News
Dangote ships 17 cargoes to African countries as global petrol crisis escalates
Dangote refinery, Africa’s largest, has increased export of petrol and urea to African countries hit by supply disruptions caused by the Iran war, its owner, Aliko Dangote said yesterday.
Dangote said the refinery, operating at its maximum capacity of 650,000 barrels a day, had helped cushion the effect of the crisis both in Nigeria and across the continent, a Reuters report said.
“What I can do is assure Nigerians … and most of West Africa, Central Africa, and East Africa, we have the capacity to supply them,” Dangote said during a tour of the refinery on the edge of commercial capital Lagos.
He said the facility had shipped some 17 cargoes of petrol to other African nations and exports of urea fertiliser had also recently risen, as buyers sought alternative sources of supply.
“In the last couple of days, we’ve been looking to mostly African countries, which we were not doing before,” he said, referring to the fertiliser shipments, without giving figures, Reuters added.
The refinery has capacity to produce up to three million metric tons of urea annually, most of which is typically exported to the United States and South America, officials say.
Fuel prices in oil-producing Nigeria have reached record-high levels, industry figures show, as maximum output from Dangote refinery has not offset the effect of high crude prices.
Dangote said the refinery hoped to get more crude cargoes priced in local currency to help curb fuel costs.
Two trade sources and a refinery official told Reuters last week that state oil firm Nigerian National Petroleum Company Limited (NNPC) was allocating seven May cargoes for Dangote refinery, up from five in previous months.
Meanwhile, oil prices inched up in choppy trade on Monday, as investors awaited clarity on the status of talks between the U.S. and Iran and remained wary about sustained supply losses due to shipping disruptions.
Brent crude futures were up 0.1 per cent to $109.13 a barrel, even as U.S. West Texas Intermediate (WTI) crude futures were trading up 0.69 per cent, or 77 cents, at $112.31 per barrel.
U.S. and Iran received the framework of a plan to end hostilities, but Iran rejected immediately reopening the Strait of Hormuz, after President Donald Trump threatened to rain “hell” on Tehran if it did not make a deal by the end of Tuesday.
Iran also said it had formulated its positions and demands in response to recent ceasefire proposals conveyed via intermediaries. The Strait of Hormuz, which carries oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait and the United Arab Emirates, remains largely closed due to Iranian attacks on shipping after the war began on February 28.
Some vessels, however, including an Omani-operated tanker, a French-owned container ship, and a Japanese-owned gas carrier, have passed through the Strait of Hormuz since Thursday, shipping data showed, reflecting Iran’s policy to allow passage for vessels from countries it deems more friendly, Reuters reported.
The Middle East supply disruptions have led to refiners seeking alternative sources for crude, particularly for physical cargoes in the U.S. and Britain’s North Sea. Spot premiums for U.S. West Texas Intermediate crude has jumped to all-time highs on competition between Asian and European refiners.
On Sunday, OPEC+ agreed to a modest rise of 206,000 barrels per day for May. Saudi Arabia also set the official selling price of May Arab Light crude oil to Asia at a record premium of $19.50 a barrel, above the Oman/Dubai average, an increase of $17 from the previous month, Aramco said.
Several candidates recently shortlisted for recruitment into the Nigerian Army from Imo State have sustained varying degrees of injuries after the vehicle conveying them to the Nigerian Army Depot in Zaria, Kaduna State, was involved in a road accident on Saturday.
The candidates were said to be travelling to the training institution to commence their basic military training when the accident occurred.
Military sources familiar with the incident disclosed that the journey was being coordinated under the supervision of Lieutenant Colonel P.D. Ngal.
A military source said the victims had successfully passed the recruitment process and were heading to the Depot Nigerian Army in Zaria to begin their recruit training before the accident disrupted the journey.
“The candidates from Imo State were on their way to the Depot Nigerian Army in Zaria to begin their recruit training when the accident happened this morning,” the source said.
Videos seen by our correspondent showed several injured candidates lying by the roadside and inside damaged vehicles as emergency responders and other travellers made frantic efforts to evacuate them.
Many of the injured candidates were subsequently rushed to nearby hospitals for medical attention.
As of the time of filing this report, the exact cause of the accident and the number of casualties had yet to be officially confirmed.
Benue State Police Command has condemned the killing of the Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and another man, Yakubu Isa, describing the attack as a senseless criminal act capable of undermining ongoing peace and security efforts in the state.
The victims were reportedly attacked by gunmen while returning from a security meeting along the Okwudu-Ogoli Road in Otukpo Local Government Area.
In a statement issued on Saturday, the Police Public Relations Officer, DSP Udeme Edet, said the Commissioner of Police, CP Cletus C.N. Nwadiogbu, condemned the killings and expressed condolences to the families of the deceased.
“The Commissioner of Police strongly condemns in its entirety the brutal killing of the Chairman of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State chapter, Ardo Rabo Mohammed, and one Yakubu Isa, who were reportedly attacked by unknown assailants while returning from a security meeting along Okwudu-Ogoli Road, Otukpo,” the statement read.
According to the police, the command has commenced a full-scale investigation into the incident, with tactical and intelligence teams deployed to track down those responsible.
The Commissioner assured residents that the command would leave no stone unturned in ensuring the perpetrators are identified, arrested and prosecuted.
He appealed to members of the public to remain calm, avoid taking the law into their own hands, and refrain from spreading unverified information capable of escalating tensions.
The police also urged anyone with credible information that could aid the investigation to report to the nearest police station or contact the command through its emergency lines.
Three bandits have been arrested in Benue state after a lady who they had kidnapped and released, identified them at a motor park and raised alarm.
The k!kidnappers came to Ihotu park to board a vehicle to Makurdi and were met by the lady they had earlier kidnapped and released after collecting ransom from her relatives.
They were even using a bag they collected from the girl. The girl raised the alarm, held one inside the vehicle, and two took to their heels, but were caught.
They had a ghana-must-go bag at the back of the vehicle. N11m was found inside the bag.
Following the confirmation of their identity by another lady who was also their victim, mob gathered around with the intent to beat them up and possibly set them ablaze.
But the park manager decided to invite the police and soldiers who rescued them and took them to their station.
It was later gathered that the Benue state Governor, Rev. Father Hyacinth Alia called and said he was interested in the case which made the police to take the apprehended bandits to Makurdi, the state capital.
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