Enforce the PIA act on crude supply, Dangote urges NUPRC
Enforce the PIA act on crude supply, Dangote urges NUPRC Management of Dangote Petroleum Refinery has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to enforce the domestic crude supply obligation as specified in the Petroleum Industry Act (PIA), insisting that refineries in Nigeria should be allowed to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen, as enshrined in the PIA act. Spokesperson of the Dangote Group, Anthony Chiejina said last night: “We are in re…
We still can't secure our full crude requirement from NNPC-Dangote insists
We still can't secure our full crude requirement from NNPC-Dangote insists The Management of Dangote Petroleum Refinery has insisted that it is not yet getting enough crude required for the effective optimization of its refinery from the Nigerian National Petroleum Corporation Limited (NNP). The Refinery Management, in a release signed by, Group Chief, Branding and Communications Officer, Anthony Chiejina revealed that, “we therefore still insist that we are unable to secure our full crude requirement from domestic production and urg…
Investors Scramble for Fidelity Bank’s Offers
Investors Scramble for Fidelity Bank’s Offers Investors are literally scrambling for shares of Fidelity Bank Plc as the leading commercial bank’s capital raising continues to gather momentum among all categories of investors. Investors’ appetite for Fidelity Bank is shown in massive subscriptions to its ongoing rights and public offers and voluminous trading at the stock market. Current weekly report shows that Fidelity Bank was the most active stock at the stock market, outperforming the banking sector and the overall market. Fidelity Bank…
Dangote clarifies its stand on crude supply to its Refinery
Dangote clarifies its stand on crude supply to its Refinery Our attention has been drawn to media reports alleging that the Dangote Refinery has backtracked by acknowledging that NNPC supplied about 60% of the 50 million barrels we lifted. To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC's reluctance to enforce the domestic crude supply obligation and ensure that we receive our full crude requirement from NNPC and the IOCs. For September, our requirement is 15 cargoes, of which NNPC …
OPEC says Dangote refinery’s diesel, jet fuel supplies to disrupt Europe’s oil & gas indus
OPEC says Dangote refinery’s diesel, jet fuel supplies to disrupt Europe’s oil & gas industry …It is a big plus to Nigeria’s economy The Organisation of Petroleum Exporting Countries, OPEC, has said supplies from Nigeria-based world's largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil. OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery among the top Diesel and jet Fuel suppliers that …
ZENITH BANK LOCKS IN 32% DISCOUNT IN HYBRID OFFERS
ZENITH BANK LOCKS IN 32% DISCOUNT IN HYBRID OFFERS Zenith Bank Plc is offering its ongoing hybrid rights and public offers at the bank’s lowest price range, locking in about 32 per cent gain in potential immediate return for existing shareholders and new investors. Nigeria’s largest bank by profit, Zenith Bank is offering a rights issue of 5.233 billion ordinary shares of 50 kobo each at N36 per share. The shares were pre-allotted to existing shareholders on the basis of one new ordinary share for every six existing ordinary shares held as…
Credit Direct Announces Outstanding H1 2024 Financial Performance and Key Achievements
Credit Direct Announces Outstanding H1 2024 Financial Performance and Key Achievements Credit Direct Finance Company Limited (Credit Direct), the consumer finance arm of FCMB Group Plc and one of Nigeria's leading digital-first non-bank financial services providers, has recently received an upgrade to its credit rating from Agusto & Co. to BBB+. According to Agusto & Co., "The upgrade reflects Credit Direct’s dominant position in the industry and its good and consistent profitability, which compares better than most peers …
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