Maverick Research’s Post

Market Report: The Establishment of Dangote Refinery The Dangote Petroleum & Petrochemicals (Dangote Refinery), Africa's largest oil refinery, marks a transformative milestone in Nigeria's energy sector. As the country aims to reduce dependence on fuel imports, this facility is poised to reshape the landscape of petroleum refining in West Africa, positioning Nigeria as a key player in the global energy market. In this report, we examine the refinery's operational framework, its potential impact on Gross domestic profit of the country and markets, and the opportunities it presents for investors, policymakers, and stakeholders across the energy value chain. #tiwatalksgreen #thenigerianenergysector #accesstoenergy #nigerianenergyupdates

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said the development of local refining capacity would position #Nigeria as a global powerhouse. He spoke at the maiden summit of the Crude Oil Refinery Owners Association of Nigeria (CORAN). The theme of the summit was: “Making Nigeria a Net Exporter of Petroleum Products”. The summit discussed the future of Nigeria’s oil refining industry and its potential to drive economic #growth and energy security. Lokpobiri, who was represented by the Director Upstream, Ministry of Petroleum Resources Engr. Kamoru Busari, said that the summit’s theme was timely and essential as it provided a crucial platform for stakeholders to explore Nigeria’s midstream and downstream oil and gas sectors, fostering self-sufficiency in refined petroleum products. #oilandgasindustry #Nigeriaoilandgas #refinery #crudeoil #Africa

Exciting News: Dangote Refinery Starts Processing Fuel! Big news from Nigeria’s energy sector! The Dangote Refinery has started producing Premium Motor Spirit (PMS), also known as petrol, with the Nigerian National Petroleum Corporation (NNPC) as its only buyer. This step is a major milestone toward making Nigeria self-sufficient in fuel production. If NNPC doesn't need all the fuel produced, the refinery plans to look at exporting to global markets, creating new opportunities. This development is set to transform Nigeria's economy and energy landscape! #EnergySector #DangoteRefinery #NNPC #FuelProduction #NigeriaGrowth #OilAndGas #Innovation #GlobalMarkets

Business News. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved Shell International Plc's bid to sell its onshore assets to Renaissance for $1.3 billion. The deal, which involves Shell's 75-year-old assets, is expected to increase Nigeria's oil production, boost government petrol dollar earnings, support the naira, and accelerate the government's gas development plans. The Renaissance consortium, comprising ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin, is expected to invest $7 billion to develop Bonga assets and help local operators develop an additional 300,000 barrels per day to 500,000 barrels per day. The deal is expected to inject new energy into Nigeria's oil and gas sector, but experts are closely examining its potential impact on Bonga's production and development plans. The development of Bonga Southwest will cost $10 billion, with the majority of resources located in OML 118 and OMLs 132 and 140 operated by US major Chevron. How the deal pushes through. #trendingnews #businessnews #lekki #nigeria #media #news #business #blogger #NewsUpdate

Dangote Refinery has reduced the ex-depot price of petrol from ₦990 to ₦970 per litre and reached a deal with oil marketers to supply an average of 28 million litres daily for domestic consumption over the next six months. Meanwhile, the Nigerian National Petroleum Company Limited has directed oil marketers to stop petrol imports, emphasizing the refinery's capacity to meet local demand. Temitope Kolade, Senior Manager, Oil, Gas, and Power Unit, shares expert insights on these developments and their implications for the energy sector on CNBC Africa. https://lnkd.in/eKU5jv7s #AndersenNigeria #EnergySector #DangoteRefinery #OilAndGas

With a new tax relief package,the Federal Government of Nigeria is set to bring in $10Billion into gas exploration in deepwater operations. Major multinational JV partners like ExxonMobil,has indicated interest in investing $10Billion in Nigeria deepwater oil production. With a production of oil that doesn't seems enough for internal refining and export.There is great need for the country to attract more investments in drilling and production of Crude-Oil.

I see the ongoing debacle between Dangote Refinery and NNPC Ltd/regulators as a golden opportunity to sanitize and further restructure Nigeria's oil & gas industry. This will require more voices than that of Aliko Dangote, but unfortunately the fear of victimization has left the top oil magnates voiceless and toothless. 1. The Independent Petroleum Producers Group, Crude Oil Refiners Association of Nigeria and Major Energy Marketers Association of Nigeria needs to rise up and propose the best plan for getting quality refined petroleum products locally to Nigerians at most affordable price 2.The Nigerian Bar Association committee on oil & gas needs to tear the PIA to pieces, review it vis-a-vis current industry realities and sponsor a comprehensive amendment. It presently feels like our oil & gas industry is operating in a LEGISLATION-FREE ZONE (LFZ) 3. IPPG, OPTS, PCTS, PETAN, PLAN, NGA, ALDG, PENGASSAN, OGTAN, MEMAN, CORAN, HOSTCOM etc need to speak up too. Official statement from these bodies will help keep all stakeholders on their toes. Demand should be made for global best practices across the entire value chain including policy formulation (to be continued) #defendtheoil

#Divested Multinational organizations Multinational companies that have divested from Nigeria, along with the estimated amount: 1. Shell Pe dotroleum - $3.8 billion (2020) 2. ExxonMobil - $2.5 billion (2020) 3. Chevron - $1.5 billion (2019) 4. Total Energies - $1.2 billion (2020) 5. Eni (Agip) - $1.1 billion (2020) 6. BP - $900 million (2019) 7. Anadarko Petroleum - $800 million (2018) 8. Occidental Petroleum - $700 million (2019) 9. ConocoPhillips - $600 million (2017) 10. Petrobras - $500 million (2017) Note: The amounts listed are estimates and may vary depending on the source. According to various reports and news articles, these companies divested from Nigeria due to various reasons such as: - Declining crude oil prices - Security concerns and instability - Regulatory challenges - Environmental concerns - Decline in oil reserves - Shift to renewable energy sources The Nigerian government has been working to address these issues and attract new investments, but the country still faces significant challenges in the oil and gas sector. Sources: - Reuters - Bloomberg - Oil & Gas Journal - Nigerian National Petroleum Corporation (NNPC) - Various news articles and reports.

Exciting developments in the energy sector! Nigeria's $20bn Dangote Refinery faces allegations from the NMDPRA that its diesel products are inferior to imports. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the Dangote refinery has not yet been licensed to begin operations. Swipe to read more #EnergyLawyer #EnergyLawExperts #EnergyLaw #OilandGas

The idea of Oando or SEPLAT acquiring one of Nigeria's refineries could transform them into a global powerhouse across Africa. This move would not only position them to compete with Dangote but also expand their asset base, enabling them to invest in and optimize the refinery's operations. If this were to happen, how would it reshape the oil and gas industry? We could see increased competition, improved refining capacity, and greater influence on the African energy market, potentially driving down costs and boosting regional growth