Tag: CRUDE OIL
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Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has projected an increase of about 600,000 barrels per day in Nigeria’s crude oil production in 2025, driven by new investments in the upstream sector. According to NUPRC Chief Executive Gbenga Komolafe, the additional production will come from 28 Field Development Plans approved in 2025,…
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Nigeria has experienced a significant 26.5% increase in crude oil imports in the first half of 2025 (H1’25), totaling 5,665,602 metric tons compared to 4,478,413 metric tons during the same period in 2024. This rise is largely attributed to the Dangote Petroleum Refinery, which, with a capacity of 650,000 barrels per day, imports crude from…
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Dangote Petroleum Refinery plans to cease importing crude oil by December 2025, shifting entirely to local Nigerian crude. Currently, the refinery, which processes around 550,000 barrels daily, sources approximately 53% of its crude domestically and 47% from the U.S. as of June. Contracts with foreign suppliers are expiring, and the company expects to fully transition…
