refinery

After President Bola Tinubu's recent tour of the $20 billion Dangote refinery complex in Lekki, Lagos, a ripple of excitement spread across the country. Aliko Dangote himself described the impending changes as a “major shakedown” poised to influence not just the refinery but the entire nation. It’s an ambitious declaration, isn’t it? What could such a "shakedown" mean for Nigeria and its citizens? Although Dangote abstained from revealing every detail, his message was clear: this impending transformation will extend far…

It’s an interesting time in the world of oil, particularly in Nigeria, where the national petroleum company and the Dangote refinery— the country’s pride, with a staggering $20 billion investment and an impressive capacity of 650,000 barrels per day (bpd)— have recently shifted their sourcing strategy. In a surprising twist, they are now turning to the U.S. crude oil market. According to data from Bloomberg's ship tracking, this decision is set to take effect in 2025, marking a significant change in their operational…

Dangote Oil Refinery: A New Era in Fuel Production In an ambitious move, the Dangote Oil Refinery is set to import at least five million barrels of U.S. West Texas Intermediate (WTI) crude oil this July. This information comes from three well-informed trading sources who are familiar with the company's operations and strategies. Consider this: a refinery with the capability to process an astounding 650,000 barrels per day is looking to import approximately 161,000 barrels daily in July. This comes shortly after a…

On Saturday, Femi Soneye, the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), made a significant announcement regarding the Port Harcourt Refining Company (PHRC). The forthcoming closure of the refinery is described as a temporary measure, aimed at enhancing operational efficiency and ensuring the refinery's long-term viability. Reflecting on the situation, Soneye stated, “The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to inform the general…

The Dawn of Dangote Polypropylene: A Game-Changer in the Global Market In an exciting development, the Dangote Petroleum Refinery and Petrochemicals has announced a strategic partnership with Vinmar Group, a prominent global distributor of petrochemicals. This alliance is set to launch Dangote Polypropylene, a product poised to make significant waves in international markets. The partnership raises the question: can local brands truly compete on a global stage while retaining their unique cultural…

Nigerian fuel traders are navigating a challenging landscape filled with unmet expectations. Despite proclamations made six months ago that the state-owned Port Harcourt and Warri refineries were ready for operation, traders still find themselves struggling to secure gasoline from these facilities. It raises an important question: How long can a nation, rich in resources, rely on aging infrastructure? This situation has led traders to maintain their dependence on imports and the privately-owned $20 billion Dangote…

Strengthening Connections: Botswana and Namibia’s Energy Integration In a significant move towards regional energy integration, Botswana and Namibia are laying the groundwork for a jointly-owned oil refinery. This initiative is revelatory, not just for its immediate implications but also for the broader narrative of collaboration and resilience in the face of changing market dynamics. According to The Namibian, this venture was a highlighted agenda during Namibian President Netumbo Nandi-Ndaitwah’s recent visit to…

The Nicolaos, a Greek-operated Suezmax tanker, recently made headlines by successfully docking at the Sentuo Refinery. This event marked a significant milestone, heralding the resumption of operations at the refinery after a six-month hiatus. The anticipation surrounding this delivery was palpable, as it symbolized hope for a facility that had struggled to fulfill its potential. Using data from vessel tracking systems, one can see that the Nicolaos is no ordinary vessel. With a deadweight tonnage of 165,000, this tanker…

In a significant turn of events, Nigeria's Economic and Financial Crimes Commission (EFCC) has initiated a profound investigation into a staggering $2.9 billion refinery fund scandal. This revelation has exposed over ₦80 billion associated with the recently dismissed Managing Director of a key refinery, casting a bloody shadow over the nation’s energy sector. As details unravel, the implications ripple through a web of connectivity that affects not only the refinery's operations but also the broader landscape of…

Nigeria’s Refinery Crisis: A Closer Look The recent shutdown of the Warri Refinery—barely a month after it was declared operational—has ignited a firestorm of concern regarding the management and oversight of Nigeria's oil sector. How can a facility that absorbed nearly $900 million in maintenance costs cease operations so soon after opening its doors? It’s a question that has left industry experts scratching their heads and citizens questioning the transparency of the Nigerian National Petroleum…