Tag: downstream
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Senate Approves New CEOs for NUPRC and NMDPRA in Nigeria’s Oil Regime
Senate Confirms New Leadership for Nigeria’s Oil Regulators The Nigerian Senate has confirmed the appointments of new chief executives for two of the country’s pivotal petroleum regulatory bodies, NUPRC (Nigerian Upstream Petroleum Regulatory Commission) and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority). The move marks a significant leadership reset across Nigeria’s oil and gas…
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IPMAN Backs Dangote Refinery, Eyes Ownership: Nigeria’s Refining Landscape Shifts
IPMAN Signals Support for Dangote Refinery Amid Drive for Domestic Refining The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed plans to participate more directly in Nigeria’s refining sector by backing the Dangote Refinery project and pursuing potential refinery ownership, contingent on regulatory approval. This bold stance comes as the body seeks to deepen…
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Dangote Refinery Reconfirms N699 Petrol Price, Attracts Marketers
Dangote Refinery Reaffirms N699 Petrol Price, Signals Strong Market Position The Dangote Refinery has reaffirmed that its petrol price at the gantry remains fixed at N699 per litre, a development that could influence pricing strategies across Nigeria’s downstream sector. In a note circulated on its X platform, the company stated that the product is available…
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Sunoco completes cash-and-stock deal to buy Parkland
Sunoco completes multi‑billion takeover of Parkland Sunoco LP has finalized its long‑planned acquisition of Parkland Corp., marking a major consolidation in the North American energy and convenience store sector. The deal, valued at US$9.1 billion when announced and inclusive of assumed debt, closes after months of regulatory scrutiny and market anticipation. The completion signals a…
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Sunoco Completes Cash-and-Stock Deal to Buy Parkland in $9.1B Transaction
Sunoco Closes $9.1 Billion Parkland Acquisition Sunoco LP has completed its long-anticipated acquisition of Parkland Corp., marking a significant consolidation in the North American energy sector. The deal, valued at about US$9.1 billion including assumed debt, was announced in May and officially closed on Friday, with Parkland’s shares set to be delisted from public markets…
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Nigeria Emerges as Africa’s Oil Trading Hub: The Next Growth Frontier
Nigeria’s Transformation into Africa’s Oil Trading Hub Nigeria is accelerating its evolution from a price-taker in the global oil market to a pivotal trading hub for Africa’s downstream sector. Industry leaders say the country’s strategic location, improving infrastructure, and policy reforms are turning the nation into a dynamic marketplace for refined petroleum products across the…