downstream sector

Depot fuel prices declined across major supply hubs on Wednesday as marketers reduced the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), while global crude oil prices continued their downward trajectory

Dangote Industries Limited has announced plans to expand its refining footprint to a combined 2.1 million barrels per day (bpd) in Nigeria and Kenya, alongside a $46 billion investment programme spanning its refining, fertiliser and cement businesses between 2026 and 2028

Dangote Petroleum Refinery exported 208,234 metric tonnes (MT) of petroleum products to Lome, Togo, in four separate cargoes during the June loading cycle, underscoring the refinery's growing role in supplying refined fuels to the West African market

Nigeria's Liquefied Petroleum Gas (LPG) market is showing strong signs of a major price correction as product availability improves significantly across coastal depots, with wholesale prices falling to as low as ₦1,100 per kilogramme from an average of ₦1,500/kg recorded just days ago.

The Dangote Petroleum Refinery has taken a significant step in its crude sourcing strategy by purchasing its first-ever cargoes from the United Arab Emirates, signalling a broader diversification of feedstock as Nigeria's domestic crude supply continues to face constraints.

Nigeria imported no Automotive Gas Oil (AGO), commonly known as diesel, in May 2026, as domestic refineries produced enough volumes to meet local demand while maintaining export supplies, a Petroleumprice.ng review of the latest Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) factsheet has shown

The Nigerian downstream petroleum market recorded one of its steepest weekly price corrections in 2026, with depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) falling sharply across Lagos, Warri, Port Harcourt and Calabar as improving supply conditions coincided with a sustained decline in global crude oil prices.

Ogun State has moved a step closer to joining Nigeria's league of oil-producing states following significant progress in crude oil exploration activities at Eba Island in Ogun Waterside Local Government Area.

Dangote Petroleum Refinery is preparing for a public share sale that could raise up to $2 billion, with the planned offering expected to rank as the largest initial public offering (IPO) ever undertaken in Africa, according to a Bloomberg report

Fresh shipments of PMS, AGO, ATK and LPG are arriving at strategic depots and jetties across Lagos, Warri, Port Harcourt and Calabar as marketers continue to replenish inventories to sustain fuel distribution across the country. The latest tanker movement, covering berthing activities between June 20 and June 26, shows a steady flow of coastal cargoes into major receiving terminals.

Liquefied Petroleum Gas (LPG) prices are beginning to soften across Lagos as fresh product arrivals and rising inventories improve supply conditions in Nigeria's cooking gas market. The increase in available volumes has eased procurement pressure on marketers and strengthened expectations of further price moderation in the coming weeks.

Depot owners have once again reduced Premium Motor Spirit (PMS) prices below the prevailing rate offered by Dangote-linked marketers, extending a competitive trend that has gained momentum across Nigeria's downstream petroleum market

Dangote Petroleum Refinery has lined up the export of 238,000 metric tonnes of Jet A1 aviation fuel, with one vessel currently loading and two others scheduled to arrive for cargoes bound for Europe, according to the latest tanker movement report

The downward movement in Nigeria's petrol market gathered pace on Wednesday as Lagos depot owners maintained lower loading prices for Premium Motor Spirit (PMS), following a sharp decline in international crude oil prices driven by easing supply concerns in the global market.

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