FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Nigeria Ends NNPC’s Role as Dangote’s Sole Buyer: Reuters

OIL
BulletEnergy BulletsCommodities

Nigeria’s local fuel traders can now buy petrol directly from the Dangote oil refinery, ending state-oil firm NNPC’s exclusive buying rights as the country moves to fully deregulate its processing sector, Reuters said.

  • The 650k b/d Dangote oil refinery started processing gasoline in September and announced that NNPC would be the sole buyer.
  • This arrangement allowed the government to continue to provide subsidies on oil products.
  • A Nigerian government committee approved Oct. 1 the sale of crude to Dangote in local naira currency, with the understanding that the refinery would fully meet the country’s fuel needs.
93 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Nigeria’s local fuel traders can now buy petrol directly from the Dangote oil refinery, ending state-oil firm NNPC’s exclusive buying rights as the country moves to fully deregulate its processing sector, Reuters said.

  • The 650k b/d Dangote oil refinery started processing gasoline in September and announced that NNPC would be the sole buyer.
  • This arrangement allowed the government to continue to provide subsidies on oil products.
  • A Nigerian government committee approved Oct. 1 the sale of crude to Dangote in local naira currency, with the understanding that the refinery would fully meet the country’s fuel needs.