Author: Daniel Terungwa

Dangote Industries’ Remarkable Growth and Impact on Nigeria’s Economic Landscape Nigeria’s business magnate, Aliko Dangote, recently inaugurated a cutting-edge integrated cement plant in Maisaiti district, Ndola, with a capacity of 1.5 million metric tonnes per annum. The project includes a 30-megawatt coal-fired plant, marking Dangote Industries Limited’s sixth integrated cement plant outside Nigeria, demonstrating the…

Concerns Arise Over International Oil Companies’ Exit from Nigeria’s Onshore Oil Business  Former SPE President Warns of Long-Term Impact on Economy and Workforce The recent exit of International Oil Companies (IOCs), notably Shell, from Nigeria’s onshore oil business has raised concerns about the long-term implications for the nation’s economy and workforce, according to Joe Nwakwue,…

NNPC, CDS Inspect Illegal Vessel Intercepted in Warri On Monday, the Nigerian National Petroleum Company Limited (NNPC Ltd) conducted an inspection of an illegal crude oil vessel loaded with thousands of metric tonnes of crude oil. The vessel was intercepted by Tanita Security Services, a private security firm, in collaboration with the Nigeria Security &…

China Plans to Increase January Exports of Diesel and Jet Fuel, Adding to Global Supply In January, China’s exports of oil products are expected to rebound as refineries, armed with new quotas, increase shipments of diesel and jet fuel in anticipation of peak Lunar New Year travel, according to estimates from traders and analysts. China,…

Eighth SAIPEC 2024 Reveals Program Highlights The eighth edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) is scheduled to take place at the Eko Convention Center in Lagos from February 13 to 15, 2024. Hosted by PETAN in strategic partnership with the Nigerian Content Development & Monitoring Board (NCDMB), Nigerian Upstream Petroleum…

Renaissance Africa Energy Set to Acquire Shell Petroleum Development Company of Nigeria Limited Renaissance Africa Energy is thrilled to announce the signing of a historic agreement with Shell for the acquisition of Shell’s entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC). Renaissance, a consortium comprising ND Western Limited, Aradel Holdings Plc.,…

Shell Announces Agreement to Sell Nigeria Onshore Oil Business for $2.4 Billion On Tuesday, Shell announced its agreement to sell its Nigerian onshore oil and gas subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, a consortium consisting of five companies, for up to $2.4 billion. According to the statement, Shell will…