The Dangote Petroleum Refinery has shielded Nigerian consumers from rising global fuel prices by keeping domestic petrol prices stable despite increasing international gasoline prices, higher freight costs, and tightening global fuel supplies. This was contained in the latest market intelligence by S&P Global Commodity Insights. According to the report, fuel importers supplying the Nigerian market are …
Dangote Petroleum Refinery has ended naira-denominated sales of its refined petroleum products, shifting to a new dollar-based pricing system for petrol, diesel, and aviation fuel. The move marks a significant change from the naira-for-crude arrangement that began in October 2024, shortly after the refinery commenced commercial operations. In a notice sent to marketers, the refinery …
Dangote Petroleum Refinery has rolled out a major direct distribution strategy, providing free petrol delivery to six select states across Nigeria. In a statement via its X handle on Wednesday, the $20 billion refinery indicated that the free delivery scheme will start in Lagos, Ogun, Rivers, Kaduna, Abuja and Delta. It added that the scheme …
The federal government convened a meeting on Monday with key stakeholders in the downstream oil and gas industry, including Dangote Refinery, regulatory bodies, and major oil marketers, to negotiate a reduction in the pump price of petrol nationwide and ensure fairer pricing for Nigerian consumers. The meeting, held at the Nigerian Midstream and Downstream Petroleum …
Dangote Petroleum Refinery has successfully issued its debut Eurobond, raising $750 million to strengthen its finances and optimize its debt ahead of a planned initial public offering (IPO). According to a report by Eurobond Africa, the five-year dollar-denominated bond is due in July 2031. Priced at par to yield 7.50 per cent, the transaction was executed through …
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, cutting it by N50 per litre to N1,075, marking the fourth price cut by the refinery within a single month. The company confirmed the price cut in a statement released on Thursday, July 2. The …
Dangote Petroleum Refinery and the Republic of the Congo's national oil company, Société Nationale des Pétroles du Congo (SNPC), have begun discussions on a strategic partnership to strengthen the supply of refined petroleum products and deepen energy cooperation across Africa. The talks took place during a visit by an SNPC delegation to the Dangote Petroleum …
The Dangote Refinery has expanded its crude sourcing to include cargoes from the United Arab Emirates (UAE), marking a notable shift in its supply chain strategy. According to a report by S&P Global Commodity Insights, the $20 billion refinery recently imported two cargoes of crude oil from the UAE, marking its first-ever procurement of Middle …
Dangote Refinery has further cut its ex-depot price of Premium Motor Spirit (petrol) from ₦1,175 to ₦1,125 per litre, reflecting a ₦50 reduction. This was confirmed in a notice sent by the refinery to its customers, where it indicated that the gantry loading price has been reduced from ₦1,175 per litre to ₦1,125 per …
The company says claims that its products are shipped to Togo and brought back into Nigeria lack commercial logic and contradict its business objectives. Dangote Petroleum Refinery has debunked allegations that its refined petroleum products are exported to Lomé, Togo, and subsequently re-imported into Nigeria, dismissing the claims as unsubstantiated and commercially illogical. In …
