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The Crude Oil Refinery Owners Association of Nigeria (CORAN) has called for the gradual elimination of petroleum product...
30/09/2026

The Crude Oil Refinery Owners Association of Nigeria (CORAN) has called for the gradual elimination of petroleum product imports as domestic refining capacity expands, urging the Federal Government to position Nigeria as a major exporter of refined petroleum products.

Speaking at the Nigeria Oil Refining Summit in Lagos, CORAN Chairman Momoh Jimah Oyarekhua said Nigeria has the crude resources, refining assets, domestic market, and geographic advantage needed to become a leading refining hub in Africa.

CORAN said achieving this goal will require reliable crude supply, affordable financing, adequate infrastructure, and a competitive operating environment for domestic refineries.
The association also called for stronger enforcement of the Domestic Crude Supply Obligation under the Petroleum Industry Act, while urging commercially sustainable arrangements between crude producers and refiners to ensure local refineries can meet domestic demand, produce surplus fuel, and expand into regional and international export markets.

The White House is considering regulatory relief that would allow broader sales of red-dyed diesel as part of an effort ...
30/09/2026

The White House is considering regulatory relief that would allow broader sales of red-dyed diesel as part of an effort to bring ​down soaring prices, a move that could allow some buyers to avoid the federal fuel tax, according to two people familiar with the discussions.

The red-dye ‌proposal has emerged from days of administration deliberations as one of the leading alternatives to a diesel export ban, which has been discussed as global supply disruptions drive prices to record levels. President Donald Trump has backed a ban, but that has faced widespread opposition from the oil industry and other parts of the business community.

The Trump administration is looking for ways to bring down diesel prices without disrupting fuel supplies or creating ​additional costs elsewhere in the economy, under growing pressure to ease fuel costs as November's midterm elections approach and Trump's economic approval ratings remain under strain.

The administration has ​also been seeking voluntary commitments from major refiners to limit diesel exports, Reuters reported last week, as officials weigh alternatives to a government-imposed ⁠export ban.

Energy Secretary Chris Wright has contacted executives at several major refiners to gauge their willingness to engage in such an action. A White House official said no final decisions ​have been made, but the president is weighing all options to lower prices.

Building the Future. Together. 🌍At ENTEKHUB, we’re creating a “Digital Ecosystem” that connects innovation, business, an...
30/09/2026

Building the Future. Together. 🌍
At ENTEKHUB, we’re creating a “Digital Ecosystem” that connects innovation, business, and data to power the next era of growth.

Technology + Business = Transformation.
Join Nigeria’s leading community for Commercialisation, Entrepreneurship & Digital Transformation.

📍 Lagos Island | Port Harcourt G.R.A Phase 2
🌐 entekhub.com | ☎ +2347052290067/68

Saudi Arabia has resumed crude oil loadings from its Red Sea port of Yanbu after restarting the East West Pipeline, impr...
29/09/2026

Saudi Arabia has resumed crude oil loadings from its Red Sea port of Yanbu after restarting the East West Pipeline, improving the outlook for Middle East oil exports.

The pipeline was shut on September 11 following drone attacks, disrupting crude shipments from Yanbu. Saudi Aramco has now issued its October loading schedule, while trade sources estimate crude loadings at around 2 million barrels per day since last week.

Pipeline throughput is currently estimated at about 2.65 million bpd and could rise to 3 million to 4 million bpd in the coming days.
However, a full return to the pre attack level of roughly 5.5 million bpd may take another month.

The restart comes as disruptions to shipping through the Strait of Hormuz continue to constrain regional oil exports, making alternative routes such as Yanbu increasingly important.

The Federal Government says Nigeria must gradually move away from relying heavily on crude oil exports by increasing dom...
29/09/2026

The Federal Government says Nigeria must gradually move away from relying heavily on crude oil exports by increasing domestic refining, petrochemical production and related industrial activities.

Minister of State for Petroleum Resources, Heineken Lokpobiri, said the government is strengthening the Domestic Supply Obligation to ensure local refineries have reliable and commercially viable access to crude, while improving the connection between the upstream and downstream sectors.

Industry leaders, however, warned that rising refinery demand could put pressure on Nigeria’s crude supply.

IPPG Chairman Adegbite Falade said domestic refineries could require more than 1.5 million barrels per day as capacity expands, while production stood at about 1.68 million bpd in August.

He called for increased exploration and production, improved infrastructure, financing and a transparent domestic crude market to ensure refineries receive the right crude volumes, grades and delivery at commercially viable terms.

NIPCO Gas Limited is planning a Floating Liquefied Natural Gas project in Nigeria that could require more than $3 billio...
29/09/2026

NIPCO Gas Limited is planning a Floating Liquefied Natural Gas project in Nigeria that could require more than $3 billion in investment and produce about 3 million tonnes of LNG annually.

The company is considering locations in Delta State’s Escravos area and Akwa Ibom, with the final site to be determined after feasibility and technical studies. The project would include an FLNG facility and supporting marine and export infrastructure.

NIPCO said the project is still at the assessment stage and remains subject to feasibility results, regulatory approvals and a final investment decision.
The company is evaluating gas supply, FLNG technology, shipping, financing and domestic supply opportunities, while also exploring a potential strategic partnership with NNPC.

If developed, the project could supply both international LNG markets and Nigeria’s growing domestic gas demand.

The Federal High Court in Port Harcourt has granted a Mareva injunction restraining Kofa Energy Limited, Redstar Oil & G...
29/09/2026

The Federal High Court in Port Harcourt has granted a Mareva injunction restraining Kofa Energy Limited, Redstar Oil & Gas Limited and Halkoff Logistics International Limited from withdrawing, transferring or disposing of funds and assets over an alleged debt of $1.602 million and ₦1.314 billion.

The case was filed by Gimbrowns Marine Security Oil and Gas Limited over alleged unpaid charges for crude oil storage, charter, professional and security logistics services involving 150,000 metric tonnes of crude oil.

Justice Stephen Dalyop Pam ordered the companies to preserve funds and other assets up to the value of the claims, including bank balances, shares and movable or immovable property.

Commercial banks were also directed to disclose the companies’ account balances within seven days of receiving the order. The case has been adjourned to October 9, 2026, for the court to hear arguments on the plaintiff’s motion on notice.

Crude oil prices rose over 1% on Monday, Sept 28, as Iran and the U.S. remain deadlocked over reopening the Strait of Ho...
28/09/2026

Crude oil prices rose over 1% on Monday, Sept 28, as Iran and the U.S. remain deadlocked over reopening the Strait of Hormuz.
Brent crude climbed to $105-$107 a barrel and WTI to around $93-$94 in early Asian trading.

Iran says it can reopen the strait within seven days if Washington lifts its naval blockade on Iranian ports, eases military pressure, removes oil sanctions and agrees to a ceasefire. President Donald Trump rejected the proposal on Saturday, saying Iran "overplayed its hand," though he told Axios he expects talks to resume this week with Qatar mediating.

The impasse keeps pressure on a waterway that carried 20% of global oil and LNG before the war began Feb 28. With tanker traffic slumped, Houthi drone attacks in Saudi Arabia and U.S. plans to curb diesel exports, Brent is up over 70% this year and headed for a third monthly gain.

The Centre for Reform and Good Governance, CRGG, says NNPCL’s 2026 performance has increased Nigerians' trust in Preside...
28/09/2026

The Centre for Reform and Good Governance, CRGG, says NNPCL’s 2026 performance has increased Nigerians' trust in President Bola Tinubu’s administration.

According to the Centre, NNPCL recorded ₦19.04 trillion in revenue and ₦2.28 trillion profit after tax between January and June 2026 under Group CEO Bashir Ojulari.
Statutory remittances to the Federation Account reached ₦6.286 trillion in H1 and climbed to ₦7.913 trillion by end of July, including ₦1.627 trillion in July alone.

Director Maxwell Onazi said: “The 2026 half-year numbers speak louder than any rhetoric... NNPCL is now operating as a true commercial entity that delivers value to the Nigerian people.” The Centre said this marks a break from past irregular transfers and limited disclosure.

CRGG described the results as “concrete evidence that the Tinubu administration’s reforms in the oil and gas sector are working and that Nigerians can once again trust that their most strategic national resource is being

Dangote says his planned Lamu refinery in Kenya will double the power capacity of his Nigerian plant, generating 1,000MW...
28/09/2026

Dangote says his planned Lamu refinery in Kenya will double the power capacity of his Nigerian plant, generating 1,000MW from petcoke with 500MW to be sold to the Kenyan government.

Speaking in Lagos on September 25 while hosting President William Ruto ahead of the September 30 groundbreaking at Lamu, Dangote said:
“The power plant in Lamu will be actually double (the one in Nigeria).”
The Lamu refinery itself is planned at 700,000 barrels per day, matching the current Lekki plant which he plans to expand to 1.4m bpd by 2029.

The $16 billion project is expected to take 3-4 years, create 60,000 jobs, and serve as a gateway for industrialization beyond refining into fertilizer and chemicals, with Lamu Port handling construction.

It will be linked to his 4,000km cross-border pipeline network including Lamu-Ethiopia and Djibouti-Ethiopia corridors.

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