fuel

Understanding Nigeria's Crude Oil Dilemma It seems Nigeria may soon witness another increase in petrol prices, and the reason might surprise you. Recently, the Nigerian National Petroleum Company (NNPC) Limited has reportedly halted a significant arrangement: the naira-for-crude deal with local refineries. It's a complex issue that might ripple through various sectors of everyday life. Inside sources suggest that NNPC has ceased this crucial deal, which now forces local refineries,…

Imagine stepping into the vibrant arena of the petroleum industry where strategies, alliances, and economic policies play in concert like a well-rehearsed symphony. Within this dynamic landscape, Dangote Refinery has struck a significant chord by partnering with Optima Energy. This move complements its existing partnerships with MRS Nigeria, Ardova PLC, and Hyden, reinforcing its fuel distribution network in an ever-evolving market. Since the operational commencement of Dangote’s $20 billion…

Picture this: You walk into a fuel station, grumbling about rising fuel prices, only to find out that you overpaid on your last visit because prices have been reduced. Annoying, right? Well, it seems like the folks at Dangote Petroleum Refinery are determined to address this exact scenario. Dangote Petroleum Refinery recently unveiled a plan that might make fuel users across Nigeria breathe a sigh of relief. Starting…

Changing Dynamics in Nigeria's Oil Sector: A New Chapter Initiated by Dangote Refinery In a move that underscores his prominence in the African economic landscape, Aliko Dangote has once again adjusted the ex-depot price of premium motor spirit, commonly known as petrol. Earlier this week, the Dangote refinery implemented a second noteworthy price reduction for February, now lowering costs from N890 to N825 per litre. Just a few weeks back, on February 1, we witnessed a similar trend when prices dropped by N60 per…

Edited By Ali Musa Axadle Times International–Monitoring. In a move that has reverberated across the fuel market, the Dangote Refinery made headlines on Wednesday by announcing a significant reduction in the ex-depot price of petrol. The price has been slashed by N65, bringing it down from N890 to N825 per liter. At first glance, this may appear as just another business decision, but as with many things in life, the ripple effects reach far and wide. Starting…

Imagine living in a world where you’re shielded from the capricious nature of global oil markets. Economies cushioned by stable and affordable fuel prices are like well-oiled machines running smoothly amidst the chaos of currency fluctuations and subsidy scrambles. They provide a predictable, steady climate where businesses and individuals can plan with confidence. But is it truly just about predictability? "The greatest wealth is to live…

In a tragic turn of events, at least 86 lives have been claimed and countless others injured following the catastrophic explosion of a fuel tanker in Niger State, nestled in northern Nigeria. The heartbreaking reality is that most of the victims were local residents, drawn to the scene like moths to a flame, desperate to collect the spilled petrol. It’s a stark and grim reminder of the struggles faced by impoverished communities where the lure of potential profit outweighs the looming dangers, as authorities have reported.…

In a spirited address at the COP29 summit in Baku, former US Vice President Al Gore didn’t hold back in his criticism of the fossil fuel sector. He asserted that industry figures are “far more adept at winning over politicians than they are at tackling emissions.” As a dedicated climate advocate, Mr. Gore called on conference attendees to prioritize actionable solutions instead of succumbing to the pressures exerted by both the political elite and corporate interests. "We must confront the question of how long we’ll allow…

Kenya Airways, often hailed as the pride of East Africa, has embarked on a groundbreaking project. This venture, aimed at both innovation and environmental conservation, seeks to transform discarded plastic waste into diesel fuel. This initiative not only promises to cut down on fuel expenses but also represents a significant stride toward tackling the pervasive issue of pollution. According to a report by Victoria Amunga for Voice of America, this project's implications could ripple far beyond Nairobi. Plastic waste is a…

In the bustling city of Frankfurt, an intriguing meeting took place between Somali President Hassan Sheikh Mohamud and Christoph Kannengiesser, CEO of Afrika-Verein. The venue? The renowned German-African Investment Conference. Their purpose was clear: forging stronger economic ties and boosting investment between Somalia and Germany. The event was covered extensively by SONNA, Somalia's National News Agency. FRANKFURT, Germany (AX) — In a spirited rallying cry, President Hassan Sheikh Mohamud spoke with great enthusiasm to…