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Dangote Petroleum Refinery has raised $750 million through its first international Eurobond issuance, marking its debut in global debt capital markets.

The funds will be used to refinance existing obligations, support working capital, and scale operations at the 650,000 bpd Lekki facility.

The successful sale comes as the company prepares for a future public listing, with the Eurobond expected to establish a benchmark yield curve for investors ahead of the IPO.

How the UAE Is Using Price to Grab Asian Oil Market Share

The UAE has adjusted its Murban crude pricing formula for offshore cargoes to make it more competitive against Middle Eastern benchmarks favored in Asia.

Abu Dhabi’s ADNOC is targeting refiners in China, India, Japan, and South Korea — the region that buys most of the Gulf’s oil.

The pricing shift is designed to attract term buyers, defend market share against Saudi Aramco and Iraq, and boost volumes through Fujairah’s export hub outside the Strait of Hormuz.

It marks a strategic move in Asia’s price-sensitive crude market.

𝐑𝐮𝐬𝐬𝐢𝐚𝐧 𝐅𝐮𝐞𝐥 𝐅𝐫𝐮𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐑𝐢𝐬𝐞𝐬 𝐀𝐬 𝐂𝐫𝐢𝐬𝐢𝐬 𝐁𝐢𝐭𝐞𝐬

Fuel shortages are spreading across Russia as Ukraine's drone attacks on oil refineries and fuel depots continue to disrupt supplies.

The shortages are affecting farmers, motorists and businesses, with long queues at filling stations and rising fuel prices reported in several regions.

The situation has become severe enough for President Vladimir Putin to acknowledge the problem and promise action to stabilise the market.

As fuel supplies remain tight, concerns are growing over the impact on agriculture, transportation and everyday life across the country.

Fresh cargoes of Premium Motor Spirit and Automotive Gas Oil are expected to dock at key depots and jetties in Lagos, Warri, and Port Harcourt this week.

Marketers are restocking fast after depot prices eased recently, making imports more attractive.

The incoming volumes should ease pump queues, improve AGO availability for generators and logistics, and stabilize prices in the Southwest, South-South, and Delta corridors.

NMDPRA is monitoring discharge and truck-out to ensure smooth distribution.