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Nigeria Moribund Refineries and Pipelines Still Draw N264 Billion Annually Says Ex-NNPC Boss

Marketers to rally FG, stakeholders to achieve 18 months subsidy removal targetAnalyst warns government against tampering with PIAThe inefficiencies associated with the four inactive refineries and decrepit petroleum pipelines and depots belonging to the Nigerian National Petroleum Company Limited (NNPC) cost Nigeria over N264 billion annually A former Chief Operating Officer (Upstream) of former Nigerian National Petroleum Corporation and Chairman ...

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Rep Set-Up Adhoc-Committees on Capacity of Nigeria Refineries and Daily Consumption of PMS

The House of Representatives has set up two adhoc committees to investigate the state and actual production capacity of the nation’s refineries. The committee will also investigate the daily consumption of the Premium Motor Spirits (PMS). The Speaker of the House, Femi Gbajabiamila stated this on Wednesday while reacting to a motion of urgent public importance by the minority leader, ...

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Dangote Refinery to Start Operations in Q3

… ……..Will save $9bn annually for Nigeria………..mAdesina The President of Dangote Group, Alhaji Aliko Dangote, has over the weekend stated that the Dangote Refinery and Petrochemicals will kick off operations before the of the first quarter (Q1), 2022 with initial daily output of fuel production of 540,000 liters pending when it starts full scale production towards the end of the ...

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FG to Establish 18 Modular Refineries in Oil-Producing States

The Federal Government on Wednesday said it was working to establish three modular refineries in each of the oil producing states, particularly in the Niger Delta region. Going by the plan, the government would have to establish about 18 refineries in the country’s six major oil producing states in the Niger Delta including Rivers, Bayelsa, Akwa Ibom, Delta, Edo and ...

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NNPC Swapped Crude Oil Worth N1.64 Trillion for Refined Products Last Year

Nigeria’s crude oil valued at N1.64tn was exchanged for refined Premium Motor Spirit, popularly called petrol, under the Direct Sale Direct Purchase arrangement from January to August 2021, for eight months.. The latest data from the Nigerian National Petroleum Company Limited on DSDP cargoes that were swapped for refined petrol show that a total 63.46 million barrels of crude oil ...

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Dangote Refinery to Boost Growth of Downstream Sector in 2022 – CPPE

The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively on the downstream sector of the Nigerian economy in 2022. Likewise, Financial Derivatives Company Limited, a financial institution, in its recent Economic Report for 2022, expressed a firm belief ...

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Minor Fire Incident at Port Harcourt Refinery – NNPC

The Nigeria National Petroleum Company ( NNPC) has said that a minor fire incidence occurred at the Port Harcourt Refining Company (PHRC) in the early hours of the new year. The incident, which was contained in less than two hours was caused by a spark while a 33,000 litre truck was discharging naphtha into a tank at the PHRC. The ...

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African Petroleum Refiners Seek Upgrade of Continent’s Refineries for Cleaner fuels

The African Refiners and Distributors Association (ARDA) has said the continent needs to deliver the “refineries of the future”, to be able to meet the growing energy needs of its population. Executive Secretary of ARDA, Anibor Kragha, in a presentation at the Africa Energy Futures Forum held during the 23rd World Petroleum Congress in Houston, USA, noted that the existing ...

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Dangote Refinery Awards Scholarship to 137 Students in Host Communities

Dangote Oil Refining Company has awarded scholarships to 137 tertiary institutions and secondary school students from its host communities in Ibeju Lekki, Lagos State. The company said the scholarship, which is part of its Corporate Social Responsibility (CSR) programmes, had become an annual event meant to contribute to the educational development of the people and position them in right place ...

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Duport Modular Refinery to Be Completed December 2021

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has said that the Duport Modular Refinery is on track to be completed before the end of December 2021. He made this statement recently during an inspection visit to Duport Energy Park situated at Egbokor in Edo state. The project is being developed with equity ...

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