Dangote Petroleum Refinery had exported two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally. Saudi Aramco is majorly state-owned petroleum and is the national oil company of Saudi Arabia. President of Dangote Group, Aliko Dangote, made this known during a visit by the…
Nigeria is one of the 48 countries that has a trade deficit with the United States of America, a major trading partner of one of Africa’s largest economy. This information is critical as U.S. President Donald Trump wages an economic war on some of its closest allies and largest trade partners. In a significant move…
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday. In a statement, the company said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. “Dangote Refinery’s…
The Central Bank of Nigeria (CBN) has approved the CFA franc to be captured on Nigeria export proceeds (NXP) form for the repatriation of export proceeds. Nonye Ayeni, executive director of the Nigeria Export Promotion Council (NEPC), spoke on Friday while addressing newsmen on the non-oil export performance for 2024 in Abuja. Nigeria’s export proceeds…
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says petrol prices will crash down following the revival of the Port Harcourt and Warri refineries by the Federal Government. In a statement on Saturday, PETROAN National Public Relations Officer, Dr. Joseph Obele, said contrary to previous doubts the refineries are “now fully operational, with…
The landing cost of imported Premium Motor Spirit (petrol) has dropped to ₦922.65 per litre, a ₦32.35 reduction from the ₦955 per litre offered at the Dangote Petroleum Refinery’s loading gantry. The price shift has reignited interest among marketers in importing petrol, offering a more profitable alternative to Dangote’s refined products, which remain priced higher….
US President Donald Trump told world business leaders Thursday to manufacture in the United States or face tariffs, in his first major speech to global leaders since returning to the White House this week. Since his inauguration on Monday, Trump has said that Washington could impose steep tariffs on major trading partners Canada, Mexico and…
US President Donald Trump says he is open to the possibility of Elon Musk, owner of Tesla and microblogging platform X, purchasing TikTok. TikTok was recently shut down in the United States following a federal ban over national security concerns tied to its Chinese ownership. The ban, which took effect on Sunday, temporarily forced TikTok…
GISTSMATE MEDIA reports that the Nigerian Communications Commission (NCC) has approved the request of telecommunications companies (telcos) to increase tariff. In a statement on Monday by Reuben Muoka, the commission’s director, public affairs, NCC said the approval was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and…
Dangote Refinery has assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina said the recent adjustment in the company’s ex-depot price “is directly related to the significant increase in global crude…