As culled from Reuters’ publication Nigeria’s state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs, three industry sources with knowledge of the matter said.

The refinery, funded by Africa’s richest man, Aliko Dangote, will transform oil trading in the Atlantic Basin and remove a lucrative outlet for fuels produced in Europe and the United States that have for years powered the cars, trucks, and generators on the continent.… Read the rest

Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said the newly acquired Heat Treatment Furnace and Dish Heads Forming Machines of indigenous MG VowGas would raise foreign exchange and create employment opportunities for Nigerian youths.

Wabote at the commissioning of the facility in Port Harcourt, Rivers state, explained that before now, fabrication of high magnitude work in oil and gas were done outside Nigeria, inducing capital fright and reducing our foreign exchange.… Read the rest

The Federal Government (FG) has launched a new Monitoring and Evaluation Reporting Template for stakeholders of the oil and gas industry in Nigeria.

The new template was conceptualized and presented to the oil and gas stakeholders by the Nigerian Content Development and Monitoring Board (NCDMB).

NCDMB, in a statement on Thursday, said this is in line with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 and the Nigerian Content 10-Year Strategic Roadmap.… Read the rest

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it will enforce crude supply obligations to local refineries.

The Commission Chief Executive, Engr. Gbenga Komolafe said this on November 1, while meeting with crude suppliers in Abuja.  

According to him, the NUPRC is committed to upholding the domestic crude oil supply requirements outlined in the Petroleum Industry Act (PIA) of 2021 to ensure ample crude oil provision to local refineries.… Read the rest