Yemisi Izuora With the planned commissioning of its alkylation unit, 650,000 b/d Dangote refinery will be enabled it to run its crude distillation unit (CDU) at operating capacity. This is expected to happen in April according to a source with knowledge of the matter. The source said CDU capacity is 550,000 b/d currently, although vessel tracking data suggest it is running some way below that. Crude arrivals at the refinery to date in March have fallen to between 175,000-235,000 b/d, according to preliminary data from vessel trackers Kpler and Vortexa, from 405,000 b/d in February. Throughput hit a high…
Author: Orientalnews Staff
Uche Cecil Izuora Nigeria is set to introduce a new crude grade, medium sweet Obodo, which is projected to hit the market in April in a moves by Government to sustain its crude offering. Obodo has a gravity of 27.65°API and a sulphur content of 0.05pc, according to an assay seen by Argus. A source said the grade is likely to be priced in line with Nigerian medium sweet Bonga. However, details on production levels were not immediately available. The Nigerian independent Continental Oil & Gas will produce Obodo from onshore oil block OML 150 in the Niger delta region,…
Yemisi Izuora Oil giant Shell has set out plans to reduce its annual spending to $20 billion from $22 billion over the next three years. Shell has equally announced plans to ramp up cost savings and reduce spending while aiming to deliver more value with lower emissions, in spite of having weakened its carbon reduction pledge in 2024. Ahead of its capital market day, the oil giant revealed it would look to strip out $5 billion to $7 billion a year by 2028, up from the previous target of $2 billion to $3 billion by 2025. The FTSE 100 company…
The Customs Area Controller, Oyo/Osun Command, Comptroller Joseph Olugbuyi Adelaja accompanied by senior officers of the Command paid a courtesy visit to sister agencies in Oyo State, to reaffirm his commitment to the interagency collaboration. The 2 Division of the Nigerian Army, the Nigeria Immigration Service, and the National Agency for Food and Drug Administration and Control (NAFDAC) are among the agencies visited During his visit to the 2 Division of the Nigerian Army and the Nigeria Immigration Service, Comptroller Adelaja expressed his deep appreciation for the opportunity to engage with fellow security agencies. He acknowledged their critical roles…
Ken Okeke A new study commissioned by Visa reveals a rise in consumer awareness and proactive security measures for digital payments across Central and Eastern Europe, the Middle East, and Africa (CEMEA). The ninth annual Stay Secure study, which surveyed 5,800 adults across 17 diverse CEMEA markets, found that 98% of consumers now actively take precautions to secure their online transactions, showcasing increased savviness as digital payments gain momentum. While 64% of respondents in Nigeria acknowledge their vulnerability to scams like phishing, the increased adoption of security measures and preference for stronger authentication indicate a positive shift in consumer…
Ken Okeke The Ethiopian aviation sector is set to take center stage as the country prepares to host the inaugural Ethiopian Aviation Forum from April 24-25, 2025, at the Ethiopian Skylight Hotel in Addis Ababa. According to a press release by the organizers, this landmark event will gather approximately 400 senior aviation leaders from airports and airlines, comprising CEOS, CCOs, VPs, GMS, and other key executives. Participants will engage in dynamic discussions and case studies to tackle critical industry issues. The forum focuses on practical insights and fosters collaborative solutions essential for the evolution of aviation in Africa featuring…
Francesca Odimgbe The Lagos State Government, in partnership with EnterpriseNGR under the platform of the Lagos International Financial Council (LIFC), on Monday signed a Memorandum of Understanding (MoU) with the City of UK and the Foreign Commonwealth and Development Office (FCDO) for the development of an International Financial Centre in Lagos to drive economic growth. The signing of the MoU by the Lagos State Commissioner for Finance, Mr Yomi Oluyomi; CEO EnterpriseNGR, Mrs. Obi Ibekwe; Head, Eurasia, Middle East and Africa of The City UK, Chika Mourah; and Director, International Development of The City UK, Anna…
Tunde Bakare Operatives of the Lagos Directorate 1 of the Economic and Financial Crimes Commission, EFCC, have arrested two suspects for their alleged involvement in Naira abuse The suspects; Adeoti Folake and Adewuyi Modupe were apprehended in Lagos on Friday, March 21, 2025 while allegedly hawking Naira notes. Upon their arrest, the sum of N3,850.000 ( Three Million, Eight Hundred and Fifty Thousand Naira) and N1,600.000 ( One Million Six Hundred Thousand Naira )were recovered from them respectively. The suspects will be charged to court upon conclusion of investigations
Vincent Ezenagu The Federal Government and the NNPC Limited/FIRST Exploration and Petroleum Development Company (FIRST E&P) Joint Venture (JV), have called for collaboration among stakeholders in the oil-production communities to ensure sustainable development. This call was made by the Managing Director of FIRST Exploration and Petroleum Development Company, Mr. Ademola Adeyemi-Bero and the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, (Ph.D), at the KEFFESO Stakeholders Forum held at Yenagoa, Bayelsa State on Thursday, March 13, 2025. In line with the Petroleum Industry Act (PIA) 2021, the KEFFESO Host Communities Development Trust (KHCDT) was established by…
By Segun Bankole “The journey of a thousand miles they say begin with a step”. No matter how rough that journey might be, the dogged and focused ones never lose sight of where they are headed; they keep forging ahead, reinventing the wheels over and over again. This best describes the journey that one of Nigeria’s budding underwriting firms embarked upon some 30 years ago when it made its debut entry into the Nigerian Insurance landscape after metamorphosing from the then Grand Union Assurances Limited on January 2, 1995. Since then, it has been a journey of hope,…