The 650,000 barrels per day capacity Dangote Petroleum Refinery in the Ibeju-Lekki area of Lagos is currently bailing the Federal Government out of a pressing financial crisis with the steady supply of foreign currencies, Business Hallmark can report shows. The continued flow of FX to the refinery owned by Africa’s richest man, Alhaji Aliko Dangote,...
Category: News
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Importation of toxic fuel deals a major blow to Dangote’s fight for market share.
According to current statistics from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), marketers have recommenced large-scale imports of refined petroleum products, bypassing domestic refining possibilities, most notably the $20 billion Dangote Petroleum Refinery in Lekki. Marketers in Nigeria have resumed large-scale imports of refined petroleum products due to domestic refining limitations, including underutilization...
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BP hails Brazil block as its largest global oil and gas find in 25 years
BP (BP.L), opens new tab has made its largest global oil and gas discovery in 25 years in Brazil’s Santos basin, it said on Monday, in what may be a major boost for the British company’s strategic shift away from renewable energy to refocus on fossil fuels.BP is seeking to bolster oil and gas in...
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Kazakhstan Holds Negotiations with China on Nuclear Power Plant ConstructionBy Staff Report in Nation on 4 August 2025
By Staff Report in Nation on 4 August 2025 ASTANA – Negotiations are underway with potential suppliers including China National Nuclear Corporation for the construction of the third nuclear power plant, reported the Kazakh Atomic Energy Agency on July 31. The discussions also include the development of high-power nuclear reactors and small modular reactors.The China...
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Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help
Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making debt repayment harder. Yet traditional debt contracts don’t account...
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Nigeria’s EV Market is in Vogue as Foreign Investment Pours in.
The arrival of a locally assembled electric SUV is the latest signal that Nigeria’s EV ambitions are picking up speed. Bonface Orucho, bird story agency Nigeria’s local EV assembling and production is growing, evidenced by the recent unveiling of a high-performance, all-electric SUV built on home soil. The launch signals a growing confidence in domestic...
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Nigeria’s EV Market is in Vogue as Foreign Investment Pours in.
The arrival of a locally assembled electric SUV is the latest signal that Nigeria’s EV ambitions are picking up speed. Bonface Orucho, bird story agency Nigeria’s local EV assembling and production is growing, evidenced by the recent unveiling of a high-performance, all-electric SUV built on home soil. The launch signals a growing confidence in domestic...
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Nigeria needs a bankable case for energy investment – Ojulari
Bayo Ojulari, the group managing director of the Nigerian National Petroleum Company Limited (NNPC) has called for a coordinated, strategic approach to make Nigeria’s energy sector more attractive to global investors, stating that “Nigeria needs a bankable case for energy investments.” Speaking at the 2025 Society of Petroleum Engineers (SPE) International Conference in Lagos, Ojulari...
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Africa Must Lead, Not Follow, in the Global Energy Race – Energy Trader Declares
An influential African energy trader has declared his intent to shake up the traditional oil and gas industry and place Africa firmly at the center of the global energy value chain. “People come to me to buy oil. Others come to sell it. I am not a politician. I am a businessman shaping deals, unlocking...
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Illegal Mining Threatens Ghana’s Critical Gas Pipelines – Genser Energy Warns
Kumasi, Ghana Genser Energy has raised alarm over growing threats posed by illegal mining activities popularly known as galamsey to Ghana’s national gas pipeline infrastructure. The Vice President of Operations at Genser Energy, Ing. Henry Abeiku Oppong, revealed that at least 50 communities in the Western and Ashanti regions where gas pipelines run are now...