• Latest
  • Trending
‘Inconsiderate’ Monopoly Tactics – PETROAN replies Dangote Refinery

Emerging report explains How Petrol Production at Dangote Refinery Affects European Oil Market

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Uzodimma Raises Imo Minimum Wage to ₦104,000

Uzodimma Raises Imo Minimum Wage to ₦104,000

Oyo Deputy Takes Over as Governor Embarks on One-Month Vacation

Oyo Deputy Takes Over as Governor Embarks on One-Month Vacation

Lecturer Punches Female Student  as Fight Erupts [Video]

Lecturer Punches Female Student as Fight Erupts [Video]

AAU ASUU Condemns SIT Over Alleged Activities, Set For Legal Action

ASUU Issues Ultimatum, Threatens Nationwide Strike

Wednesday, August 27, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Business News

Emerging report explains How Petrol Production at Dangote Refinery Affects European Oil Market

by iDeemlawful
January 16, 2025
in Business News
A A
0
‘Inconsiderate’ Monopoly Tactics – PETROAN replies Dangote Refinery

A recent report sheds light on the impact of petrol production at the Dangote Refinery on the European oil market.

This was contained in a report published by Organisation of the Petroleum Exporting Countries

OPEC claims that the production of petroleum products by the Dangote Petroleum Refinery has led to a decrease in Nigeria’s reliance on imported refined products from European sources.

In its Monthly Oil Market Report released on January 15, 2025, OPEC emphasized that the increased gasoline production from the Lagos refinery will lead to a surplus in the international market, necessitating the exploration of alternative destinations for the excess supply.

SeeThese

Why NNPC Refineries May Never Work Again – Dangote

Fuel Marketers Engage Suppliers To Crash Petrol Price To N700/Litre

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

“The ongoing operational ramp-up efforts at Nigeria’s new Dangote refinery and its gasoline exports to the international market will likely weigh further on the European gasoline market.

“Continued gasoline production in Nigeria, a country that has relied heavily on imports to meet its domestic fuel needs in the past, will most likely continue to free up gasoline volumes in international markets which will call for new destinations and flow adjustments for the extra volumes going forward,” the report partly read.

Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational for decades until recently.

The country is heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.

Fuel queues are commonplace in the country. Prices of petrol have risen fivefold since the removal of subsidy in May 2023 by President Bola Tinubu, from around ₦200/litre to around ₦1000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.

In December 2023, Aliko Dangote, Africa’s leading industrialist, commenced operations at his $20bn facility sited in Lagos with 350,000 barrels a day.

The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year.

The refinery has begun the supply of diesel, petrol and aviation fuel to marketers in the country

Tags: Dangote refineriesPetrol
Share201Tweet126SendShare
Previous Post

NASS clears JAMB of alleged Misappropriation

Next Post

Police Seal Off Rivers PDP Secretariat Over Leadership Dispute

iDeemlawful

iDeemlawful

Next Read

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets
Business News

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets

...

Read more
EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

...

Read more
NCAA orders Phones Off During Flights
Business News

NCAA orders Phones Off During Flights

...

Read more
Nigerian Government Hits Back as US Tighten Visa Rule
Business News

Nigerian Government Hits Back as US Tighten Visa Rule

...

Read more
9mobile Changes Name, Logo
Business News

9mobile Changes Name, Logo

...

Read more
CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

...

Read more
Business News

After $3b repairs, NNPC Considers Selling Nigeria’s 445,000 bpd Refineries

...

Read more
31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST
Business News

31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST

...

Read more
Next Post
Police Seal Off Rivers PDP Secretariat Over Leadership Dispute

Police Seal Off Rivers PDP Secretariat Over Leadership Dispute

Nigerian Governors reject VAT Increase in Tax Reform Bills, Make new proposal

Nigerian Governors reject VAT Increase in Tax Reform Bills, Make new proposal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

AFTERMATHS OF RAPE VICTIMS

Be patient with Tinubu, 2025 presents better deal – Ganduje

Be patient with Tinubu, 2025 presents better deal – Ganduje

Banditry: Notorious Bandits Leader, Turji Reportedly Writes President Buhari, Two Others, Makes 5 Demands

Banditry: Notorious Bandits Leader, Turji Reportedly Writes President Buhari, Two Others, Makes 5 Demands

Most Popular

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion
Campus News

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians
Featured

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]
Breaking News

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In