• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria Reaches Agreement With Dangote on Gasoline Distribution

11 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
72
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria Reaches Agreement With Dangote on Gasoline Distribution

Nigeria has reached an agreement with the Dangote Refinery through which the country’s state-owned energy firm will be the sole distributor of gasoline from the plant.

Nigerian National Petroleum Co. will supply crude to the Dangote Refinery and in return be the sole distributor of gasoline from the refinery, Zacch Adedeji, chairman of the technical sub-committee that negotiated the deal, said in an emailed statement. The transaction will be performed in local currency.

“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, Sept. 15,” Adedeji said, referring to premium motor spirit, or gasoline.

The deal has the potential to upend global trade in crude and refined products. It simultaneously cuts Nigeria’s dependence on imports of refined products and the Dangote Refinery’s need for imported crude.

The 650,000-barrels-per-day Dangote Refinery started the processing of gasoline this month and had indicated that it was waiting for a deal with the NNPC before it starts distributing the product.

“This initiative will help reduce pressure on the naira, eliminate unnecessary transaction costs, and improve availability of petroleum products in the country,” Adedeji said. “Diesel will be sold in naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC; NNPC will then sell to various marketers for now,” he said.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

As part of the agreement, the state-owned company will from Oct. 1 start supplying about 385,000 bpd of crude oil to the refinery, to be paid for in naira, for local processing, according to the statement.

This will cut the refinery’s demand for imported crude from the US and other parts of the world, which has sustained its production since it started processing crude at the beginning of the year.

The Dangote Refinery will be able to turn more than half of its full capacity into gasoline, enough to satisfy Nigeria’s demand for the product. It is expected to reach this level of production in three to four months, Vartika Shukla, chairman of Engineers India Ltd., the project managers, said this week.

Source: bloomberg
Via: norvanreports
Tags: DangoteGasoline DistributionNigeriaNigeria Reaches Agreement With Dangote on Gasoline Distribution

Leave a Reply Cancel reply

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

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.