Business

NMDPRA Licenses Edo Modular Refinery for Operations

Published

2 years ago

August 20, 2024

493 Views

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued operational licence to Edo Modular Refinery and Petrochemical Company Limited, Ologbo in Ikpoba-Okha local government area of Edo State.

The NMDPRA is the Technical and Commercial Regulator of Midstream and Downstream Operations in the petroleum industry with its issuance of operational licence being the final stage of approval from the regulatory authority that would make the plant operate as a refinery.

The Chief Executive Officer of NMDPRA, Ahmed Farouk in a ceremony, handed the certificate to AIPCC, the parent company of the Edo Refinery.

Farouk, who was accompanied by the Executive Director (ED), NMDPRA, Hydrocarbon Processing Plant Installation and Transport Infrastructure (HPPITI, Mr Francis Ogaree, handed over the operational license to the refinery Head, Technical Operations, Segun Okeni.

Farouk assured the management of the refinery that the regulatory authority is a business enabler and would be ready to give the refinery all the necessary support in all its projects.

A statement by Okeni made available to journalists in Benin City on Tuesday said the company is out to make her contributions to the petroleum refinery and gas processing subsector adding that the AIPCC is developing three other projects and one of such would be completed in the next one year.

On the alleged non-allocation of crude from the Nigerian National Petroleum Corporation Limited (NNPCL), Okeni revealed that the refinery is finalising arrangements with an indigenous oil company to access crude oil for optimal production capacity.

“We are finalising a major crude supply agreement with an indigenous oil company.

Although the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NMDPRA have been supportive but once we find a source of crude they will normally give us urgent approval.

However with this licensing, NUPRC ought to consider existing local refineries in the bidding round for marginal field”, he said.

Business

UPDATE: Malindi Court Declines to Halt Dangote Refinery Launch in Lamu

Published

3 hours ago

September 29, 2026

Charles Flames

4 Views

The Malindi Environment and Land Court has declined to issue orders stopping the launch and construction of the planned KSh 2 trillion Dangote Oil Refinery in Lamu County.

In a ruling made public on Monday, 28 September 2026, the court instead directed both parties to maintain the status quo on the disputed land in the Hindi/Manda Magogoni area until the matter is heard on 14 October 2026.

The case was brought by 133 residents of Chandavai. They claim the land is their ancestral heritage, where their families have lived and farmed for generations. The residents say they do not oppose development but want their land rights recognised before the project proceeds.

The court ordered the government and other respondents to file their responses within 14 days. The application is scheduled for hearing on 14 October 2026.

The groundbreaking ceremony for the refinery is expected to go ahead as planned on Wednesday, 30 September 2026. While the court has not halted the ceremony at this stage, the status quo order means activities on the disputed site may be restricted pending the October hearing.

Business

Oil Rises As US Rejects Iran Proposal

Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.

Published

2 days ago

September 28, 2026

OCHEFA

17 Views

Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays.

Trump also said Tehran had overplayed its hand and expects negotiations to resume this week.

Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.

Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south.

Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities.

In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.

Business

NGX Debuts Invest WhatsApp Channel

The channel provides investors with an additional, convenient way to participate in public offers.

Published

2 days ago

September 28, 2026

OCHEFA

25 Views

Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.

The channel provides investors with an additional, convenient way to participate in public offers.

Investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521.

They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application.

As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.

(VANGUARD)