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Category: Petroleum

International Corporate News Petroleum

Dangote Refinery Warns of Substandard Fuel Imports Amid Regulatory Gaps in Nigeria

Nigeria’s Dangote Refinery has raised concerns over the influx of substandard petroleum products entering the country, highlighting the lack of adequate testing facilities by the Nigerian oil regulator. According to Dangote, these low-quality products, which include fuel and vehicle parts, are allegedly being imported by marketers in partnership with international traders. The Punch recently reported that petroleum marketers accused the Dangote Refinery of setting higher petrol prices than imported alternatives, stating that Dangote charges bulk

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Oil International Petroleum

Pinnacle Oil Refutes Dangote Refinery’s Allegations of Substandard Fuel

Pinnacle Oil and Gas Limited has issued a firm response to Dangote Refinery’s recent accusations regarding substandard fuel blending, strongly denying any involvement in the production or distribution of low-quality fuel. The statement follows Dangote Refinery’s claims that a petroleum depot opened near its facility was raising concerns about the quality of fuel on the market. These claims from Dangote came amid allegations from petroleum marketers that the refinery was selling petrol above the import

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Oil Local News Petroleum

Sequa Petroleum Secures Approval for Key Stake in Angola’s Offshore Oil Blocks

Sequa Petroleum, a U.K.-based oil and gas company, has received official approval from the Angolan government to acquire significant stakes in three offshore oil blocks. The acquisition includes a 10% interest in Block 15/06, as well as 40% and 35% stakes in Block 23 and Block 27, respectively. In an independent review, Sequa’s share in Block 15/06 was initially estimated to hold around 55 million barrels of recoverable oil as of April 2022. This figure

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International Corporate News Oil Petroleum

NNPC’s Nigerian Refineries Face Diesel Sulfur Compliance Hurdles Amid Turnaround Maintenance

NNPC Ltd’s three refinery complexes in Nigeria, currently undergoing extensive turnaround maintenance (TAM), are not expected to meet the diesel sulfur content regulation limit of below 1,500 parts per million (ppm) upon their commissioning. This exceeds even local regulatory standards for sulfur levels in diesel, reflecting challenges in bringing the government-operated refineries in line with cleaner fuel standards. The NNPC-operated refineries are located in Port Harcourt, Warri, and Kaduna and have been under rehabilitation since

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International News Oil Petroleum

Financing Challenges Prompt Increased Investments in East African Crude Oil Pipeline

The East African Crude Oil Pipeline (EACOP), a joint project between Tanzania, Uganda, and major external stakeholders TotalEnergies and China National Offshore Oil Corporation (CNOOC), is facing significant financing hurdles. Originally set up to transport oil from Uganda’s Lake Albert reserves to Tanzania’s Tanga port, this $5 billion project has seen its two primary foreign investors step in with additional funding due to debt-financing constraints. The project has attracted criticism from environmental groups and parts

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International News Oil Petroleum

Nigeria Moves Closer to Self-Sufficiency in Petrol Production Amid Declining Imports

Nigeria appears to be on track to achieving self-sufficiency in petrol production, as recent data reveals a significant decline in the volume of Premium Motor Spirit (PMS) imported in October 2024. This decline follows an increase in PMS production at the Dangote refinery, particularly during the first two weeks of the month. According to a ship-tracking report from S&P Global Commodity Insights obtained by Nairametrics, Nigeria imported 280,400 barrels of gasoline and blend stock during

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International Corporate News Oil Petroleum

Dangote Refinery Seeks Cancellation of Import Licenses to Protect Domestic Production

Dangote Petroleum Refinery and Petrochemicals FZE has filed a lawsuit with the Federal High Court in Abuja, seeking to annul the import licenses granted to the Nigerian National Petroleum Corporation (NNPC), Matrix Petroleum Services, A. A. Rano, and four other oil companies. According to Nairametrics, these licenses permit the companies to import refined petroleum products, but Dangote contends that it produces sufficient quantities of these products to meet local demand, negating the need for imports.

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Oil International Petroleum

Nigeria’s Fuel Supply Challenges Despite Dangote Refinery’s Operations

Despite the operation of Nigeria’s largest single-train refinery, the Dangote refinery, marketers continue to rely heavily on imported premium Motor Spirit, commonly known as petrol. Although the Dangote refinery has asserted that it can meet the Nigerian market’s demands, local oil marketers have challenged this assertion. Recent findings by Punch revealed that at least four vessels transporting petroleum products were observed at the borders of Nigeria, contradicting claims that the Dangote refinery can supply the

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Local News Petroleum

PetroWorld to Launch Lubricants Factory in Angola

PetroWorld, a Dubai-based oil company, is set to open a lubricants factory in Angola early next year, with an estimated creation of approximately 20,000 jobs. The new facility will have a production capacity of around 10,000 liters of lubricants per day. Evandro dos Santos, PetroWorld’s Operations Director, announced the initiative during the fifth Angola Oil & Gas conference held last week in Luanda. The project is expected to cost $5 million, with a total funding

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International Oil Petroleum

Financial Struggles Hamper Fuel Imports in Mozambique

Several oil companies in Mozambique have been unable to import fuel in recent months due to financial difficulties, according to Moisés Paulino, the National Director of Hydrocarbons and Fuels. As reported by Carta de Moçambique, these companies have accumulated significant debts, causing disruptions in the fuel import process managed by the Mozambican Importer of Petroleum Products (IMOPETRO). Paulino highlighted that some companies’ inability to pay has created challenges, including debts to international suppliers, the government,

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