Heyden Petroleum Limited has announced an amicable resolution of all issues between them and the Asset Management Corporation of Nigeria (AMCON).

The company deemed the clarification necessary because of media reports on the pending litigation between the parties.

The statement added that “Heyden Petroleum Limited has demonstrated commitment to meeting their obligations and has been making payments accordingly.

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“Given this latest development, AMCON has formally discontinued its pending litigation against Heyden Petroleum Limited, particularly Suit No. FHC/AMC/67/2024.”

Hyeden noted that “As a responsible debt recovery agency of the Federal Government of Nigeria, it is not the practice of AMCON to engage in a media trial of obligors who are meeting their obligation. Accordingly, the general public is urged to disregard any negative commentaries on the relationship between AMCON and Heyden Petroleum Limited.”

The Dangote Petroleum Refinery and Petrochemicals is of the view that deregulation should not be used as a justification for the importation of off-spec petroleum products or the undermining of Nigeria’s national interests.

This was contained in a statement on Tuesday by Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina.

The counsel came in response to remarks by Chief Executive Officer of Pinnacle Oil and Gas Limited, Robert Dickerman, on the importation and blending of petroleum products, which he framed within the context of a “deregulated commodity market.”

However, the Dangote Petroleum Refinery is of the view that his argument for a deregulated market could not obscure the serious implications of his actions, which, it claimed, not only threatened the integrity of Nigeria’s energy sector but also endangered the welfare of its citizens.

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While reiterating support for deregulation and industrialisation, the Dangote Refinery emphasised that the support must be grounded in a commitment to the sustainable growth of Nigeria’s economy, while shielding the people from exploitation.

The refinery made it clear that the health and safety of Nigerians should never be compromised in the pursuit of profit.

According to the statement, “The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialisation in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country’s economy and the protection of its people from any exploitation. Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or the subversion of national interests.”

The company also noted that, as an American, Dickerman should be well aware of how his own country protects its industries. It pointed to several recent examples from the United States to underline the point.

For instance, U.S. President Joe Biden recently opposed the sale of U.S. Steel to Japan’s Nippon Steel, stressing the importance of maintaining strong American steel companies supported by American workers — an example of protectionism that prioritises national economic interests over short-term profit.

Similarly, the U.S. has taken action to restrict the use of Chinese-made cranes in its ports, citing national security concerns. The U.S. has also imposed a 100% tariff on electric vehicles and a 50% duty on medical equipment imported from China, further demonstrating its commitment to safeguarding domestic industries.

The U.S. has also ramped up efforts to boost its own production of computer chips and medical supplies, driven by national security concerns and the need for economic self-sufficiency. Furthermore, during his presidency, George W. Bush used anti-dumping laws to impose tariffs on a range of Chinese goods that were considered to be unfairly priced.

“It is therefore perplexing that Dickerman, with all his experience in the U.S. market, would advocate for the importation and blending of petroleum products to Nigeria under the claim of deregulation and a free market. The fact is that he had deceitfully approached us and pleaded that we extend the pipeline from our refinery to Pinnacle’s tank farms for the purpose of blending our high-quality products with their imported products and selling them to Nigerians. We categorically rejected his request to extend our pipeline to their tank farms for such devious purposes because it would be a betrayal of the Nigerian people’s trust. The health and safety of Nigerians cannot—and should not—be compromised for profit,” the statement added.

The company also raised concerns over Pinnacle Oil’s decision to lease its tank farms to a company without any retail outlets in Nigeria, questioning the strategic intent behind such actions, particularly given that the farms are located just 500 metres from Dangote’s refinery.

It expressed its vigilance regarding the coordinated efforts to undermine the Dangote Refinery, drawing parallels to the fate of refineries in Port Harcourt, Kaduna, and Warri.

Consequently, the Dangote Petroleum Refinery called on the government, patriotic Nigerians, and local businesses to remain steadfast in defending the country’s sovereignty and economic independence.

“The choice we face is between fostering industrialisation or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs. For nearly three decades, cartels and their collaborators have sabotaged efforts to develop Nigeria’s refining capacity, keeping the country dependent on imported products. The time has come to end this cycle of exploitation and ensure that Nigeria’s energy sector works for the benefit of its people,” it added.

Reiterating belief that a strong, self-sufficient energy sector is vital for Nigeria’s economic growth, the Dangote Refinery affirmed that it will continue to advocate for policies and practices that protect both industries and the well-being of all Nigerians.

The company also expressed its support for healthy competition that drives innovation and quality, and looked forward to the upcoming commissioning of the four state-owned refineries, as promised by the NNPC Ltd.

“At Dangote Petroleum Refinery, we are committed to ensuring that Nigeria becomes self-reliant in petroleum production, and we welcome competition that drives innovation and quality. However, we will never allow the continued importation and blending of petroleum products, nor the deliberate destruction of our national economy. We believe that a strong, self-sufficient energy sector is vital to Nigeria’s economic growth, and we will continue to advocate for policies and practices that protect our industries and the well-being of all Nigerians.

“We eagerly anticipate the coming on stream of the Kaduna, Warri, and Port Harcourt refineries before the end of this year, as promised by the Group Chief Executive Officer (GCEO) of NNPCL, Mele Kyari. This milestone will not only end all baseless rumours of monopoly but also position Nigeria as a refining hub for petroleum products in Africa,” it concluded.

Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Company Limited (NNPC Ltd) and CNL, has expressed commitment to providing a seamless and inclusive experience for all applicants participating in the selection tests for its available job opportunities.

According to the General Manager, Policy, Government and Public Affairs, at CNL, Olusoga Oduselu, the company strategically achieves this by leveraging reputable organizations and technology.

Biztellers reports that the CNL retained Dragnet Solutions Limited (DSL), a provider of online assessment services with relevant expertise, to administer aptitude tests to candidates for its available job opportunities.

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Olusoga explained that the online assessments allow candidates to participate from various locations to save time and promote inclusivity for candidates who are constrained to participate in physical assessments.

He maintained that this strategy “provides equal opportunities for all candidates, including those with disabilities.”

According to Oduselu, the CNL was aware of some complaints of challenges by some candidates during their scheduled test period. To address these challenges, CNL engaged with DSL and deployed repeat tests for those who complained of technical hitches during the tests and those who could not participate in their scheduled tests.

“All isolated cases of system glitches have been addressed by our consultant, and the transparent, all-inclusive recruitment process continues. The applicants and our various stakeholders have commended this act of goodwill,” he stated.

The CNL’s recruitment process, including assessment, is transparent and fair and provides equal opportunity for all qualified candidates to compete for available job opportunities.

He added that the CNL assures its stakeholders that its recruitment process uses appropriate technology and complies with applicable laws and regulatory requirements.