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Tag: Dangote Refinery

  • Dangote announces further reduction in price of diesel

    Dangote announces further reduction in price of diesel

    The Dangote Petroleum Refinery has announced a further reduction in the prices of diesel and aviation fuel to N940 and N980 per litre, respectively.

    TheNewsGuru.com (TNG) reports Dangote Refinery made the announcement on Tuesday after right after its big price drop to N1,000 just two weeks ago.

    In an unprecedented move, Dangote Refinery had announced reduction of the price of diesel from N1200 to N1,000 per litre two weeks before.

    Dangote Refinery had rolled out the product in March at a reduced price of N1,200 per litre, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

    TNG reports diesel, which has impact on the cost of some food, is mostly used in large quantity in Nigeria by industries and articulated vehicles for transporting goods across the country.

    A reduction in the price of diesel will subsequently affect the prices of goods and services across board and reduce the current skyrocketing prices in the country.

    Customers purchasing five million liters or more from the refinery will benefit from the revised price of N940, while those purchasing one million liters or more will be eligible for the price of N970.

    Mr. Anthony Chiejina, the Head of Communication, made this known, saying it aligns with the company’s goal of easing the economic challenges faced by Nigerians.

    “I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations be it Lagos or Maiduguri.

    “You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” Chiejina said.

  • Army detains 2 soldiers over alleged theft in Dangote Refinery

    Army detains 2 soldiers over alleged theft in Dangote Refinery

    The Nigerian Army (NA) says its has detained two soldiers allegedly involved in a reported case of theft at the Dangote Refinery in Lagos.

    The Director, Army Public Relations, Maj.-Gen. Onyema Nwachukwu, in a statement on Wednesday,  said the Nigerian army was deeply concerned over its personnel’s involvement in criminality.

    Nwachukwu said that act of criminality, which was prevented by the proactive intervention of vigilant troops and private security operatives on duty at the refinery, was totally unacceptable and highly regrettable.

    He said that such act does not represent the ethics and values of the Nigerian army, adding that the two suspects had been identified and currently under custody.

    According to him, preliminary investigation revealed that the two suspects were hired by a civilian contractor simply identified as Mr Smart, who claimed he wanted to recover some Armoured cables he had left behind on the refinery’s premises.

    “Unknown to the soldiers, the said contractor, sensing trouble as they approached the security post, excused himself from the vehicle and bolted, leaving them behind.

    “Further investigations are ongoing to fully ascertain the depth of culpability of the apprehended soldiers.

    “Additionally, the stolen cables have been recovered and are in safe custody,” he said.

    Nwachukwu said the army was working closely with the management of  Dangote Refinery to ensure  thorough investigation into the unfortunate incident.

    He reassured the public that appropriate disciplinary measures would be meted out to the culprits, adding that no act of criminality would be condoned amongst its personnel.

    “The Nigerian army remains steadfast in ensuring that the key values of discipline and integrity are adequately entrenched amongst its personnel.

    “We shall also continue to cultivate and promote dedication and a culture of accountability and ethical behaviours within our ranks,” he added.

  • Army detains 2 soldiers over alleged theft in Dangote Refinery

    Army detains 2 soldiers over alleged theft in Dangote Refinery

    The Nigerian Army (NA) says its has detained two soldiers allegedly involved in a reported case of theft at the Dangote Refinery in Lagos.

    The Director, Army Public Relations, Maj.-Gen. Onyema Nwachukwu, in a statement on Wednesday, said the Nigerian army was deeply concerned over its personnel’s involvement in criminality.

    Nwachukwu said that act of criminality, which was prevented by the proactive intervention of vigilant troops and private security operatives on duty at the refinery, was totally unacceptable and highly regrettable.

    He said that such act does not represent the ethics and values of the Nigerian army, adding that the two suspects had been identified and currently under custody.

    According to him, preliminary investigation revealed that the two suspects were hired by a civilian contractor simply identified as Mr Smart, who claimed he wanted to recover some Armoured cables he had left behind on the refinery’s premises.

    “Unknown to the soldiers, the said contractor, sensing trouble as they approached the security post, excused himself from the vehicle and bolted, leaving them behind.

    “Further investigations are ongoing to fully ascertain the depth of culpability of the apprehended soldiers.

    “Additionally, the stolen cables have been recovered and are in safe custody,” he said.

    Nwachukwu said the army was working closely with the management of  Dangote Refinery to ensure  thorough investigation into the unfortunate incident.

    He reassured the public that appropriate disciplinary measures would be meted out to the culprits, adding that no act of criminality would be condoned amongst its personnel.

    “The Nigerian army remains steadfast in ensuring that the key values of discipline and integrity are adequately entrenched amongst its personnel.

    “We shall also continue to cultivate and promote dedication and a culture of accountability and ethical behaviours within our ranks,” he added.

  • What Tinubu said about Dangote reducing price of diesel

    What Tinubu said about Dangote reducing price of diesel

    President Bola Tinubu has commended the Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil (AGO), also known as diesel.

    This is contained in a statement by Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, on Wednesday in Abuja.

    Diesel is mostly used in large quantity in Nigeria by industries and articulated vehicles for transporting goods across the country.

    A reduction in the price of diesel will subsequently affect the prices of goods and services across board and reduce the current skyrocketing prices in the country.

    Dangote recently reviewed downwards the price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of N30 per litre for an offtake of five million litres and above.

    Ngelale said that the price review represented a 60 per cent drop.

    He said that Tinubu stated that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.

    The Presidential spokesman said that the federal government has 20 per cent stake in Dangote Refinery.

    He said that the President noted the significance of partnership between the public and private entities in advancing the overall well-being of the country.

    Ngelale said that the President called on Nigerians and businesses to put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive.

  • BREAKING: Dangote Refinery announces roll out of diesel

    BREAKING: Dangote Refinery announces roll out of diesel

    Dangote Group has commenced the roll out of diesel from its petroleum refinery located in Lekki, Lagos State to oil marketers, marking a significant milestone in Nigeria’s petroleum sector.

    TheNewsGuru.com (TNG) reports the conglomerate made this known on Monday via platform X, formerly Twitter.

    The launch of operations at the Dangote refinery is expected to reduce Nigeria’s reliance on imported petroleum products drastically.

    Independent Petroleum Marketers Association of Nigeria (IPMAN) had claimed that the landing cost of the product from the refinery is pegged at N1,250 per litre.

    Members of three prominent associations, which constitute 75 per cent of the total market in Nigeria, have been registered to make the product available in the country.

    The associations are Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Oil Marketers Association of Nigeria (MOMAN).

    The 650,000 barrels capacity Dangote Refinery, the world’s largest single-train refinery commenced production in January. The refinery commenced refining with production of diesel and aviation fuel.

    The refinery started production after receiving six million barrels of crude oil from the Nigerian National Petroleum Company Ltd.

    TNG reports the refinery can load 2,900 trucks a day at its truck-loading gantries. Diesel is being loaded via sea from the single point mooring (SPM-P3) and via land from the gantry at the the Dangote Refinery.

  • Dangote Refinery begins registration of distributors

    Dangote Refinery begins registration of distributors

    The management of Dangote Petroleum Refinery has commenced registration of distributors for its products, a statement by the outfit said on Friday in Lagos.

    According to the statement, members of three prominent associations that constitute 75 per cent of the total market in Nigeria have been registered.

    The associations are Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Oil Marketers Association of Nigeria (MOMAN).

    The company is also considering other marketers that have signified interest in the lifting and distribution of its petroleum products in the country, the statement said.

    It quoted the Executive Secretary, DAPPMAN, Mr Olufemi Adewole, as saying that the association had commenced discussions with Dangote Petroleum Refinery regarding the lifting and distribution of refined petroleum products.

    DAPPMAN, it said, had discussed with Dangote last year during a meeting between its Chairman, Dame Winifred Akpani, 2nd Vice Chairman, Alhaji Mahmud Tukur and the President of Dangote Group, Aliko Dangote.

    “The meeting was to explore areas of collaboration between the refinery and DAPPMAN members whose nationwide presence will be critical in distributing products from the refinery to the consumers,” it said.

    It added that the refining of petroleum products from Dangote Refinery would accelerate Nigeria’s economic development and provide DAPPMAN members with seamless access to refined petroleum products.

    In the same vein, National Vice President of IPMAN, Alhaji Hammed Fasola, said the association had declared its intention to lift and distribute petroleum products from Dangote Refinery.

    “We have already established a business relationship with Dangote Refinery. We believe that the relationship is going to be a win-win one.

    “Our association owns 80 per cent of the retail outlets in the country and we have all it takes to ensure smooth distribution of petroleum products from Dangote Refinery across the country,” the statement quoted Fasola as saying.

    On his part, the Executive Secretary of MOMAN, Clement Isong, confirmed that members had registered with Dangote Petroleum Refinery to become marketers of its products.

    “I confirm that my members have registered with them. We were waiting for the production to start and now it has started; we shall soon start discussing the terms,” Isong was quoted as saying.

    The statement said that the refinery was designed for 100 per cent Nigerian crude, with the flexibility to process other crudes.

    It said that the refinery could load 2,900 trucks a day at its truck-loading gantries.

  • What billionaire Otedola said after visiting Dangote Refinery

    What billionaire Otedola said after visiting Dangote Refinery

    Billionaire Femi Otedola has been wowed by the Dangote Petroleum Refinery, situated in the Lekki Free Zone, Lagos State.

    TheNewsGuru.com (TNG) reports Otedola visited the refinery on Wednesday after which the billionaire took to social media to express his admiration.

    Otedola described the Dangote Refinery, covering a land area of approximately six times the size of Victoria Island, as “the 8th wonder of the world”.

    “Today I visited the 8th wonder of the world: the Dangote Oil Refinery, which just started production.

    “Congratulations to my bestie @AlikoDangote on this tremendous feat! Guinness Book of Records for the world’s largest single train petroleum refinery in the world.

    “History is made,” Otedola wrote on X, formerly known as Twitter.

    TNG reports the long awaited Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), officially started production recently.

    The Pipeline Infrastructure at the Dangote Petroleum Refinery is the largest anywhere in the world, with 1,100 kilometers to handle 3 Billion Standard Cubic Foot of gas per day.

    The Refinery alone has a 435MW Power Plant that is able to meet the total power requirement of Ibadan DisCo.

    The Refinery will meet 100% of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.

  • Dangote Refinery reveals when products will be available for Nigerians

    Dangote Refinery reveals when products will be available for Nigerians

    Dangote Petroleum Refinery has started the production of diesel and aviation fuel, and the products will be in the market before the end of the month.

    TheNewsGuru.com (TNG) reports the 650,000 barrels capacity Dangote Refinery, the world’s largest single-train refinery located in Lekki, Lagos, commenced production on Friday morning.

    Mr Anthony Chiejina, Dangote Group Head of Corporate Communications, confirms: “The refinery started production after receiving six million barrels of crude oil from the Nigerian National Petroleum Company Ltd”.

    It was gathered that the Dangote Petroleum Refinery commenced production with the refining of diesel and aviation fuel.

    In a statement on Friday in Lagos, Mr Chiejina quoted the President of Dangote Group, Alhaji Aliko Dangote, to have elatedly thanked President Bola Ahmed Tinubu for his support, encouragement and thoughtful advice towards the actualisation of the project.

    Dangote also thanked the Nigerian National Petroleum Company Ltd., the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerians for their support and belief in the historic project.

    According to him, “We thank President Tinubu for his support and for making our dream come true.

    “This production, as witnessed today, would not have been possible without his visionary leadership and prompt attention to details.

    “His intervention at various stages cleared all impediments, thereby accelerating the actualisation of the project.

    “We also thank the NNPCL, NUPRC and NMDPRA for their support.

    “These organisations have been our dependable partners in this historic journey.

    “We also thank Nigerians for their belief and support in this project,” he said.

    Dangote said: “We have started the production of diesel and aviation fuel, and the products will be in the market before the end of the month.

    “This is a big day for Nigeria. We are delighted to have reached this significant milestone.

    “This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects.

    “This is a game changer for our country, and I am very fulfilled with the actualisation of this project.

    “The refinery has so far received six million barrels of crude oil at its two SPMs located 25 kilometres from the shore.

    “The first crude delivery was done on Dec. 12, 2023, and the 6th cargo was delivered on Jan. 8, 2024,” he added.

    He said that the refinery can load 2,900 trucks a day at its truck-loading gantries.

    He added that the products from the refinery will conform to Euro V specifications.

    Dangote boss said that the refinery design complies with the World Bank, US EPA, European emission norms, and Department of Petroleum Resources (DPR) emission/effluent norms. State-of-the-art technology.

    “I must extend our sincere appreciation to our Bankers and financiers, both local and offshore, who demonstrated a great deal of patience, in seeing us through many difficult times.

    “In the same vein, we thank the Government of Lagos State, under the leadership of Babajide Sanwo-Olu, who has been incredibly proactive in ensuring that the many challenges we encountered in the course of executing this project were quickly resolved.

    “I thank him immensely. I also sincerely thank our host communities and their traditional leaders for their sustained patience, forbearance, and admirable willingness to work with us to find amicable and win-win resolutions to the many issues we have had to deal with as the construction of this huge facility progressed.

    “Our staff have also contributed so immensely to the success of this project. I thank them profusely,” Dangote added.

  • BREAKING: Dangote Refinery officially begins production

    BREAKING: Dangote Refinery officially begins production

    Dangote Refinery started production on Friday morning as a gas flare stack was seen at the refinery located in the Lekki Free Zone, Lagos State.

    TheNewsGuru.com (TNG) reports the Dangote Refinery started production after receiving one million barrels of Agbami crude via MT ALMI SUN recently.

    The one million barrels of Agbami crude received was the last cargo to complete the initial scheduled 6 million barrels consignment to be delivered to the facility for commencement of production of refined petroleum products.

    Initial processing capacity is expected to reach 350,000 barrel per day (bpd) at the 650,000 bpd integrated refinery, with the aim of ramping up to full capacity by the end of the year.

    ALSO READ || Dangote Refinery reveals when products will be available for Nigerians

    According to information available on the company’s website, the refinery will meet 100% of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.

     

    Details shortly…

  • VIDEO: Nigeria to destroy 800,000 litres stolen crude despite refinery plans, high petrol prices

    VIDEO: Nigeria to destroy 800,000 litres stolen crude despite refinery plans, high petrol prices

    Nigeria’s state-owned oil firm, NNPC Ltd, has announced that an intercepted 800,000-litre vessel carrying suspected stolen crude oil off the coast of Cameroon will be destroyed as a deterrent to oil theft.

    Chief Corporate Communications Officer, NNPCL Garba Muhammad, said in a statement on Monday, that the oil was stolen from a well in south western Ondo state.

    The vessel named MT Tura II with IMO number: 6620462 owned by Holab Maritime Services Limited, a locally registered Nigerian company, was intercepted on July 7, by Tantita Security Services, a private security outfit owned by former Niger-Delta militant Government Ekpemupolo alias Tompolo.

    According to the NNPCL spokesperson, the suspicious vessel did not possess valid documentation for the oil cargo when it was apprehended.

    “The illegal trade of stolen crude oil not only inflicts significant economic losses on Nigeria and legitimate stakeholders in the oil industry, but also perpetuates a cycle of corruption, environmental devastation, and social instability.

    “Destroying vessels involved in transporting stolen crude oil is of paramount importance as a strong deterrent,” Muhammad said.

    This comes at a time when Nigeria has invested over N11.35 trillion ($25 billion) in the past decade to revive its three moribund refineries, which are currently operating at less than 30 per cent capacity, resulting in a shortage of locally refined petroleum products.

    While the move aims to deter oil theft and enforce stronger penalties, it could potentially exacerbate the challenges faced by the Nigerian energy sector.

    The low production capacity, coupled with the removal of fuel subsidies, has led to a significant increase in petrol prices, with rates soaring as high as N557 ($1.21) per litre, up from N189.

    The federal government had initially announced that the Port Harcourt Refinery would resume operations by the end of the first quarter of 2023, after failing to meet the initial December 2022 deadline.

    However, further delays have occurred and as the third quarter begins, the refinery is yet to commence operations. Some modular refineries, such as the Waltersmith and Duport refineries, where NNPC holds a 30 per cent stake, are also scheduled to start operations this year.

    The operational success of these refineries, alongside the Dangote refinery’s 650,000-barrel-per-day capacity, is expected to significantly reduce Nigeria’s dependence on imported petroleum products, stabilise petrol prices and ensure energy security for Nigeria.

    But theft from pipelines and wells in the Niger Delta has remained a significant challenge to Nigeria’s oil output in recent years and is one of the biggest obstacles facing President Bola Tinubu.

    According to NNPCL, preliminary investigations revealed that the recently intercepted vessel had been operating in stealth mode for the past 12 years, with its last reported location being Tin Can Port in July 2011.

    The company said it had escalated the details of the arrest and investigation outcomes to the appropriate government authorities and assured Nigerians that the fight against crude oil theft would continue until it is completely eradicated.

    Despite ongoing efforts to combat oil theft, the interception of the vessel underscores the persistent challenges Nigeria faces in addressing this issue.

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