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Dangote Refinery loses N32.5bn after petrol price cut
Business

Dangote refinery denies reports of petrol processing unit shutdown

Dangote Petroleum Refinery, located in Lekki, Lagos State, has dismissed reports suggesting a shutdown of its petrol processing unit for maintenance. The clarification follows a Bloomberg story claiming that the refinery’s gasoline-making unit was undergoing repairs, necessitating a temporary halt in operations. A senior spokesperson for the company, categorically denied the claims, stating, “Loading of […]

Fuel crisis looms as Dangote refinery halts Naira sales
News

Fuel crisis looms as Dangote refinery halts Naira sales

The recent decision by the Dangote Petroleum Refinery to suspend the sale of petroleum products in naira has triggered panic buying among filling station operators. Some fuel retailers have begun stockpiling Premium Motor Spirit, anticipating a price increase due to the Federal Government’s failure to continue crude oil sales to the refinery in local currency. […]

Fuel crisis looms as Dangote refinery halts Naira sales
featured Oil and Gas

Dangote Refinery halts naira sale of petrol products

Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in naira, citing the need to align its revenue with crude oil purchase obligations, which are settled in U.S. dollars. In a notice issued to petroleum marketers on Wednesday, the refinery explained that the decision was driven by a mismatch between its naira-based sales […]

Dangote Refinery's polypropylene to enter market
News

Dangote Refinery’s polypropylene to enter market

The Dangote Oil Refinery has commenced operations at its polypropylene facility in Lagos, marking a significant milestone in its expansion efforts. According to S&P Global, the startup of Dangote’s 830,000-metric-tonnes-per-year polypropylene site was one of the final steps in the commissioning sequence of the refinery and petrochemical complex, which has been underway since January 2024. […]

Dangote Refinery loses N32.5bn after petrol price cut
featured

Dangote refinery receives fresh crude supply from NNPCL

The Federal Government has increased crude oil supply to the Dangote Petroleum Refinery to boost local refining. This comes as the refinery reduces its loading gantry price from N825 to N815 per litre. Experts highlight that crude oil supply to the Dangote Refinery is key to boosting local refining and increasing domestic production capacity. An […]

Dangote Refinery loses N32.5bn after petrol price cut
Energy

Dangote refinery cuts petrol price to N815/litre, toughens market competition

Dangote Petroleum Refinery reduced its petrol loading price from N825 to N815 per litre on Thursday, intensifying competition in the downstream oil sector. The price cut attracted oil marketers, who began bypassing private depot owners to source directly from the refinery. This N10 reduction is expected to trigger a competitive response from private fuel depots, […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote refinery secures 1m barrels of Algerian crude

Dangote Refinery has reportedly acquired its first cargo of Algeria’s light sweet Saharan Blend crude, according to Argus Media. Dangote Refinery reportedly purchased a 1 million-barrel cargo of Algeria’s Saharan Blend crude from Glencore, with delivery expected between March 15-20, according to Argus Media. The deal has not been directly confirmed by either party, and […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote to refund marketers after fuel price cut

Dangote Petroleum Refinery & Petrochemicals has pledged to refund customers who purchase Premium Motor Spirit at prices higher than its advertised rates from its authorized partners—Ardova Plc, Heyden, or MRS—across Nigeria. This decision comes after the refinery recently lowered its gantry price from N890 to N825 per litre. The company said it is part of […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote cuts petrol loading price to N860/litre

Dangote Petroleum Refinery announced a N65 reduction in the ex-depot price of Premium Motor Spirit, lowering it from N890 to N825 per litre. The new price takes effect on Thursday, February 27, 2025, according to a statement from the refinery. According to Dangote, this adjustment is designed to provide essential relief to Nigerians ahead of […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote Refinery cuts diesel price to ₦1,020 for marketers

Dangote Petroleum Refinery & Petrochemicals has reduced the gantry price of its diesel product by ₦55, bringing it down from ₦1,075 to ₦1,020 per litre. In a statement signed by the Head of Media Relations at Dangote Industries, Esan Sunday, the company said the price cut aims to ease costs for manufacturers and other consumers. […]

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