Why Dangote Refinery IPO is successful — Petroleum minister

Global crude oil prices remained under pressure on Friday, with the market on course for a fourth consecutive weekly decline as improving oil flows through the Strait of Hormuz continued to ease supply concerns that had driven prices sharply higher during the recent Middle East conflict. Although both major benchmarks posted modest gains in early Asian trading, sentiment remained largely bearish as traders assessed the return of Gulf exports.

A team of Chinese engineers has commenced a comprehensive technical assessment of the Warri Refining and Petrochemicals Company (WRPC), marking the first step in the Nigerian National Petroleum Company Limited's (NNPCL) latest effort to restore the state-owned refinery to sustainable commercial operations

A fire has been reported at Bono Depot, with emergency response teams moving to the scene as efforts to contain the incident get underway

Dangote Petroleum Refinery has said the petrol, diesel and aviation fuel currently being supplied to the Nigerian market are being produced from crude oil inventories acquired when international crude prices were significantly higher than current market levels, explaining why domestic fuel prices do not immediately mirror declines in global oil prices