NNPC To Supply Four Crude Oil Cargoes to $20bn Dangote Refinery   The Nigerian National Petroleum Company Ltd (NNPCL) has scheduled to supply four crude oil cargoes, (four million barrels), under its February programme to the $20 billion Dangote refinery. The four cargoes are expected to increase...

FG Targets 1.7mbpd Crude As November Output Declines   The Federal Government, on Tuesday, declared that Nigeria would meet and surpass the 2024 crude oil budget benchmark of 1.7 million barrels per barrel despite the marginal decline in oil output in November 2023. Latest figures released by...

Dangote Refinery Secures 1m Barrels of Crude Oil, Set to Commence Operation The Dangote Oil Refining Company says its plant has received its maiden one million barrels of Agbami crude grade, from the Shell International Trading and Shipping Company Limited (STASCO). In a statement on Friday,...

Dangote Refinery Receives First Shipment of Crude Oil, to Commence Production The are indications that the Dangote Refinery located in Lagos is set to commence production of refined petroleum products. According to industry sources and tanker tracking Data, S&P Global, the much expected production of refined...

NNPC to Review Pricing Regime For Crude Oil Traders   The Nigerian National Petroleum Company Limited (NNPCL) will review how its crude cargoes are priced from January 2024. A report by Bloomberg quoting a circular by the company stating that the new product pricing would be against...

Nigeria’s Rig Count Drops by 13% Nigeria’s rig count, a major index of measuring activities in the upstream sector, dropped month-on-month, MoM by 13.3 percent to 13 in October 2023, from 15 recorded in the preceding month of September 2023. This showed that there was limited...