Defining the African Energy Narrative.
The Nigerian National Petroleum Company Limited (NNPC Ltd) and partners in Oil Mining Lease (OML) 118 have signed agreements to advance the Bonga South West/Aparo (BSWAp) deepwater project towards Final Investment Decision (FID). The agreements were signed on Monday by NNPC and the OML 118 contractor parties, comprising Shell Nigeria Exploration and Production Company Limited […]
Nigeria’s seaborne petroleum product exports have increased seven-fold since 2023, driven largely by rising output from the Dangote Petroleum Refinery, the US Energy Information Administration (EIA) has said. According to the EIA, Nigeria’s seaborne petroleum product shipments averaged 561,000 barrels per day (b/d) in the second quarter of 2026, compared with an annual average of […]
Nigeria has approved a major tax incentive package for Shell Plc’s long-delayed Bonga Southwest Aparo (BSWA) deepwater oil project, marking one of the government’s most significant efforts to revive investment in the country’s upstream petroleum sector. The incentive, linked to production volumes, is expected to accelerate the project’s long-awaited Final Investment Decision (FID) and could […]
Nigeria’s downstream petroleum market has entered another period of price volatility following the decision by Dangote Petroleum Refinery to discontinue naira-denominated sales of refined petroleum products in favour of US dollar pricing. The policy shift has triggered an immediate increase in depot prices, with petrol rising by as much as ₦113 per litre, signalling the […]
Nigeria’s Dangote Petroleum Refinery has imported its first-ever crude oil cargoes from the United Arab Emirates, marking a significant shift in its sourcing strategy as it seeks to secure more reliable feedstock supplies amid persistent domestic crude shortages. According to a report by S&P Global Commodity Insights, the 700,000-barrels-per-day refinery recently purchased two cargoes of […]
The planned listing of the Dangote Petroleum Refinery is increasingly being viewed as more than just another corporate planned initial public offering (IPO), as the conversation across financial and energy markets is shifting toward a much bigger question of whether the refinery shares can fundamentally redefine African energy investment. For decades, Africa’s energy story has […]
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has criticised the lawsuit filed by the Dangote Petroleum Refinery seeking to revoke fuel import licences issued by the Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The association warned that the legal action could destabilise Nigeria’s downstream petroleum sector, disrupt […]
Nigeria’s latest attempt to revive its long-troubled refineries in a partnership with two Chinese companies has been met with deep skepticism from critics and energy experts. The state-owned energy company Nigerian National Petroleum Company Limited (NNPCL) recently signed a Memorandum of Understanding with Hong Kong-listed Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation […]
For decades, countries in East Africa have depended heavily on imported fuel to keep vehicles moving, factories running and economies functioning. Petrol, diesel, and aviation fuel mostly arrive through international suppliers, leaving local markets exposed to global crises far beyond their control. When oil prices spike internationally or shipping routes become unstable, the effects are […]
Nigeria may be on the cusp of a significant shift in its energy and foreign exchange landscape, following the Dangote Petroleum Refinery’s achievement of full operational capacity. Chairman of First HoldCo, Femi Otedola, expressed optimism that the naira could strengthen substantially in the coming months, projecting that the currency may trade below ₦1,000 per dollar […]
