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  • Oil & Gas - News
  • Updated: January 28, 2024

Weekly oil, gas news highlights from January 21 to January 28, 2024

Weekly oil, gas news highlights from January 21 to January 2

We're glad you're here for the most recent Oil & Gas News collections, where we swiftly present the most interesting AllNews stories from the previous week.

NNPCL to settle taxes, operational costs with $3.3 billion loan

Nigeria's National Petroleum Company Limited (NNPCL) has declared that it will meet its operational needs and pay upfront taxes and royalties that are owed to Nigeria with the $3.3 billion loan it received from the African Export-Import Bank.

In an article titled "Frequently Asked Questions: Project Gazelle," Chief Corporate Communications Officer Olufemi Soneye offered details on how the loan was used. Read more here.

Dangote refinery to supply fuel to 150,000 IPMAN outlets

Dangote Petroleum Refinery is set to supply fuel to approximately 150,000 retail outlets managed by the Independent Petroleum Marketers Association of Nigeria (IPMAN), following a successful meeting between refinery management and IPMAN executives.

The meeting, which was held following IPMAN's exclusive scheduling, confirmed the refinery's commitment to providing products to more than 30,000 IPMAN members. Read more here.

Why PENGASSAN objects to Shell sale

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), representing oil workers, is at the forefront of the opposition to Shell's proposed sale of onshore assets.

PENGASSAN has categorically rejected the proposed sale, citing concerns about the Renaissance Group, the consortium that will acquire the assets.  Read more here.

Fuel subsidy removal: FAAC disbursed record N15.1 trillion in 2023, 29.05 per cent leap from 2022

The removal of fuel subsidies in May 2023 fueled a significant financial shift, propelling the Federal Accounts Allocation Committee (FAAC) to disburse an unprecedented N15.1 trillion in 2023.

The remarkable surge reflects a substantial 29.05% increase from the previous year, as highlighted by the Nigerian Economic Summit Group (NESG) macro-economic outlook for 2024. Read more here.

NNPC builds 150 million-litre storage for Port Harcourt refinery

The Nigerian National Petroleum Company Limited has built a 150 million-litre storage facility for the Port Harcourt Refining Company ahead of the plants' full operation, the company announced on Wednesday.

It stated that the storage facility was built in Atlas Cove and that the company had inked Build, Operate, and Transfer agreements for the rehabilitation of pipelines and storage facilities around the country. Read more here.

These are the latest Oil & Gas news that made trends during the week. Visit our website https://allnews.ng for more Oil & Gas news around the world.

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