7 articles tagged with “Petroleum Industry Act”
Nigeria's government has suspended petrol import licenses for the second consecutive month, enforcing provisions of the Petroleum Industry Act as Dangote Refinery now supplies nearly two-thirds of domestic demand.
Dangote Refinery supplied 40.1 million litres per day of petrol in February, representing 61.78% of Nigeria's consumption, as declining crude prices pushed the country's trade surplus to a two-year low in Q4 2025.
NUPRC oversees TotalEnergies-Aradel oilfield handover while AMNI International commences Okoro Field drilling operations, as President Tinubu issues executive order to restore constitutional order in petroleum revenue administration.
AMNI International's Okoro Field drilling rig arrival underscores indigenous operator capacity as President Tinubu signals comprehensive Petroleum Industry Act review and OPEC+ weighs production increases amid Middle East tensions.
TotalEnergies credits Nigeria's Petroleum Industry Act with enabling transparency and foreign investment inflows, while Dangote Petroleum Refinery unveils plans for a 400,000-tonne surfactant plant as part of its transformation into an integrated industrial complex.
Nigeria's petroleum workers union PENGASSAN has demanded the withdrawal of President Tinubu's Executive Order on oil revenues, warning the directive undermines the Petroleum Industry Act and threatens investor confidence in the sector.
President Bola Tinubu has signed an executive order eliminating multiple deductions from oil and gas revenue, targeting an estimated 30% of receipts currently withheld before remittance to the Federation Account.