Dangote Refinery Begins Expansion To 1.4 Million Barrels Per Day, Eyes World’s Largest Status The Dangote Refinery has commenced construction on a major expansion project that will increase its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, positioning it as the largest refinery in the world upon completion. According to the…
Aradel Holdings to Acquire Additional 40% Stake in ND Western Aradel Holdings Plc has announced that its wholly-owned subsidiary, Aradel Energy Limited, has entered into a definitive agreement to acquire an additional 40 percent equity interest in ND Western Limited from Petrolin Trading Ltd. This was disclosed in a statement by the company’s Chief Financial…
Obi Calls for Diversification of Port Development as FG Approves $1bn for Modernisation of Lagos Ports The Federal Government has approved a $1 billion (N1.5 trillion) modernisation project for the Apapa and TinCan Island Ports in Lagos as part of efforts to upgrade infrastructure and enhance efficiency in Nigeria’s maritime sector. Minister of Marine and…
UAE Reaffirms Support for Africa’s Clean Energy and Green Industrialization Drive The United Arab Emirates (UAE) has reiterated its commitment to deepening partnerships with African nations to accelerate the continent’s clean energy transition and green industrialization. Speaking at the Accelerated Partnership for Renewables in Africa (APRA) Investment Forum held in Freetown, Sierra Leone, the UAE’s…
Nigeria’s Oil Revenue Falls to N3.9 Trillion in Q4 2024 Amid Budget Shortfall Nigeria’s oil revenue declined by 22 percent to N3.9 trillion in the fourth quarter of 2024, reflecting a notable shortfall from the federal government’s budgetary target, according to the Budget Office of the Federation’s Q4 2024 Budget Implementation Report. The report, according …
Dangote to List Up to 10% of Refinery on Nigerian Stock Exchange, Eyes Global Partnerships Africa’s richest man, Aliko Dangote, has revealed plans to sell between five and ten percent of shares in the Dangote Petroleum Refinery on the Nigerian Exchange (NGX) within the next 12 months. Speaking in an interview with S&P Global, Dangote…
OTL Africa 2025: Industry Titans to Chart New Course for Energy Sustainability in Lagos Leaders and stakeholders across Africa’s petroleum, gas, and energy value chain will gather in Lagos from October 26 to 31, 2025, for the 19th edition of the OTL Africa Downstream Energy Week, the continent’s flagship event for the downstream sector. Organised…
NLNG MD Mshelbila Elected Secretary-General of Gas Exporting Countries Managing Director of Nigeria LNG Limited (NLNG), Dr. Philip Mshelbila, has been elected Secretary-General of the Gas Exporting Countries Forum (GECF) at the 27th Ministerial Meeting of the Forum held in Doha, Qatar. President Bola Tinubu congratulated Mshelbila on the appointment, describing it as a significant…
Shell Urges IOCs, Local Firms to Deepen Partnerships for Nigeria’s Gas Growth Shell has urged international oil companies (IOCs) and indigenous operators in Nigeria to strengthen partnerships to accelerate gas development and position the resource as the foundation of the country’s industrial expansion. The company said that achieving this goal would require sustained policy consistency,…
Nigeria Imports 69% of Petrol Despite Dangote Refinery Production Despite the commencement of operations at the Dangote Refinery, Nigeria has continued to rely heavily on imported petrol, bringing in about 15 billion litres—representing 69 per cent of the total 21.68 billion litres consumed between August 2024 and early October 2025. This is according to data…