Dangote Refinery has disclosed the price of its petrol, saying that it sells at N990 per litre in trucks and N960 per litre into ships. The disclosure follows the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) claim of importing the products at cheaper rates compared to that of Dangote. The ...

In a deft move that underscores its role as a leader in Africa’s energy sector, Heirs Energies announced its participation in African Energy Week (AEW) 2024, which runs from November 4-8 in Cape Town, South Africa. The event, themed “Investment in African Energies: Energy Growth Through Enabling Environment,” brings together key industry stakeholders to shape the future of Africa’s energy ...

…………by Ben Ndubuwa…….  In a significant move aimed at revitalizing Nigeria’s gas sector, the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has called for continued government incentives to attract private investments in gas processing, transportation, storage, and distribution. This recommendation follows the recent disbursement of a substantial ₦122 billion, which is intended to bolster the country’s gas infrastructure and close ...

The Chairman of the Committee, Rep. Victor Afam (LP-Anambra), said in a statement issued on Sunday, November 3, 2024, in Abuja. He said that the public hearing, scheduled for Tuesday, Nov. 5, and Wednesday, Nov. 6, will cover the period from 2015 to 2024. The rep alleged that investments meant for the development of the renewable energy sector in Nigeria ...

………….Gross Revenue Hits ₦3.4 Trillion………. Access Holdings Plc, one of Africa’s leading financial institutions, has announced its unaudited results for the third quarter ended September 30, 2024. The financial results highlight the group’s continued growth momentum, emphasising resilience and sustainable performance as the Group works to deliver solid returns for its shareholders. Gross revenue for the nine-month period rose by ...

Head, Corporate Communications, Sahara Group, Bethel Obioma, Head of Programs, Sahara Group Foundation, Chidilim Menakaya, Executive Director, Sahara Group, Kola Adesina and Director, Governance and Sustainability, Sahara Group, Ejiro Gray at the launch of the Making A Difference Around Africa (MADAA) initiative aimed at empowering entrepreneurs, social innovators and researchers, among ideas to transform and scale their ideas and businesses. ...

……..by Ben Ndubuwa….. The Federal Government of Nigeria has signed a significant agreement with the European Union (EU) and the German Government, committing £17.9 million to support the country’s off-grid electricity initiative. This funding will be instrumental in advancing the third phase of the Nigerian Energy Support Programme (NESP), aimed at enhancing investments in renewable energy, energy efficiency, and rural ...

Shell Brasil Petróleo Ltda, a subsidiary of Shell plc, has announced the start of production of the floating production storage and offloading facility (FPSO) Marechal Duque de Caxias in the Mero field, in the pre-salt area of the Santos Basin, offshore Brazil. Also known as Mero-3, the FPSO has an operational capacity of 180,000 barrels of oil per day. (Shell ...

Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders. Shares were up 2.6% in the premarket following the report’s release. The oil major’s quarterly profit, however, declined substantially compared to the year-ago period due to lower margins on refined product sales, lower prices and the absence of favorable tax times. Chevron is aiming to ...

Exxon Mobil on Friday beat Wall Street’s third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources. Oil industry earnings have been squeezed this year by slowing demand and weak margins on gasoline and diesel. But Exxon’s year-over-year profit fell 5%, a much smaller drop than ...