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featured Oil and Gas

Dangote Refinery cuts petrol price by ₦1 as brent crude surges

Dangote Petroleum Refinery on Wednesday reduced its ex-depot price of Premium Motor Spirit, known as petrol, by N1 per litre. The price cut came even as diesel prices climbed across several petroleum depots in Lagos, reflecting mixed trends in Nigeria’s downstream petroleum market. Meanwhile, global crude oil prices surged sharply on Wednesday, with international benchmark […]

featured Oil and Gas

Dangote Refinery, marketers cut petrol, diesel depot prices

Nigeria’s downstream petroleum market witnessed another round of price reductions on Monday, with the Dangote Petroleum Refinery and several major fuel marketers lowering depot prices for Premium Motor Spirit, popularly known as petrol, and diesel. This development comes at the backdrop of pressures from the Federal Government as well as growing competition and improving product […]

Investment

How land discount sealed Dangote Refinery deal — Fashola

Former Lagos State Governor Babatunde Fashola said his administration discounted the price of land allocated to the Dangote Group to secure the refinery project that later became the Dangote Petroleum Refinery in the Lekki Free Zone. Nairametrics reported that Fashola made the disclosure during his keynote address, titled “From Presence to Power: Advancing Women’s Influence […]

featured Oil and Gas

Why pump prices don’t follow daily crude costs — Dangote Refinery

Dangote Petroleum Refinery and Petrochemicals says its product pricing is not tied to daily swings in global crude prices, addressing recent public and government pressure for marketers to cut fuel prices following the drop in international oil benchmarks. The clarification came in an official statement responding to calls from Nigerians and the Federal Government for […]

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Dangote Refinery slashes petrol ex-gantry price to N1,075/litre

The Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit, popularly known as petrol, from N1,125 per litre to N1,075 per litre. The N50 per litre reduction, representing a 4.4 per cent decrease from the previous price, is expected to further intensify competition in Nigeria’s downstream petroleum sector. This is the refinery’s […]

Business

Dangote Refinery rejects claims of fuel exports, re-importation via Lomé

The management of Dangote Petroleum Refinery and Petrochemicals has expressed concern over the spread of what it described as false and misleading reports alleging that its petroleum products are exported to Lomé and later re-imported into Nigeria. The company said in a statement that while it does not usually respond to baseless allegations, it deemed […]

Oil and Gas

Dangote Refinery denies exporting fuel for reimportation

The management of Dangote Petroleum Refinery and Petrochemicals has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are exported to Lomé and subsequently re-imported into Nigeria. The company said in a statement that, as a matter of policy, it does not engage with baseless allegations, but it considered […]

featured

Dangote Refinery slashes petrol gantry price by N75/litre

Dangote Petroleum Refinery has announced a N75 per litre reduction in the gantry price of Premium Motor Spirit, commonly known as petrol, citing easing tensions in the Middle East that had contributed to elevated energy prices over the past three months. In a circular issued to fuel marketers on Monday, the refinery said it reviewed […]

Business

Dangote refinery cuts West Africa fuel imports

The expansion of the Dangote Petroleum Refinery has led to a sharp reduction in clean petroleum product imports into West Africa, significantly altering regional tanker traffic and shipping patterns, according to a report by S&P Global. Data from S&P Global Commodities at Sea showed that West Africa’s imports of clean refined products fell by 23 […]

Business

Dangote refinery boosts Nigerian crude prices amid global uncertainty

Dangote Petroleum Refinery’s increasing demand for Nigerian crude oil is providing crucial support to the country’s oil market, boosting premiums for key crude grades and helping sustain demand amid uncertainty in global energy markets. The refinery’s growing crude intake has strengthened the pricing of Nigerian oil grades compared with competing Angolan crudes, as geopolitical tensions […]

Business

Dangote Refinery valued at $39.1bn in private placement offer

The Dangote Petroleum Refinery has been valued at $39.1 billion as it seeks to raise fresh capital from investors through a private placement. According to an Information Memorandum seen by Nairametrics, the refinery is offering three billion ordinary shares at a placement price of $0.35 per share. The transaction is expected to raise approximately $1 […]

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