Profit-minded Dangote to set up trading arm for Lagos mega refinery
Africa’s richest man, Aliko Dangote, is planning to set up an oil trading arm, likely based in London, to help run crude and products supply for his new refinery in…
Y2023 ENERGY WEEK: LAGOS SHOWCASES PLANS TO BECOME REGIONAL OIL, GAS HUB
November 9, 2023 The Lagos State Ministry of Energy and Mineral Resources and Ibile Oil and Gas Corporation (IOGC) have demonstrated the State Government’s ambition to become a regional oil…
Vitol signs 10-year deal to buy Nigeria’s LNG from 2021
Commodities trader Vitol has signed a 10-year deal with Nigeria Liquefied Natural Gas (NLNG) to buy 500,000 tonnes of LNG per year, ramping up its long-term presence on the market….
International Oil Company Owes FG $1.6bn in Taxes – EFCC Witness Alleges
Mr Emefun Etudo, a prosecution witness for the Economic and Financial Crimes Commission (EFCC) on Wednesday, alleged that and Trafigura PTE Ltd, an international oil company, owed the Federal…
How International Oil Company, 5 Others Stole $8.4m Diesel oil — Witness Tells Court
An EFCC prosecution witness on Monday told an Ikeja Special Offences Court how an international oil company allegedly connived with five Nigerian associates to steal six million metric…
NNPC to ink crude-for-product deals with Shell and ExxonMobil
Nigeria’s state oil firm NNPC could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday. Reuters reports…