Oil & Energy
Iran To Receive Frozen Oil Money, Feb 1 …As Agreement With World Powers Begins, Today

Governor Kashim Shettima of Borno State (3rd-left),inspecting a unit of Centre Pivot Irrigation Equipment, being installed by an American Agro Firm at a farm site on Maidugurikonduga Road under the gricultural transformation programme recently. The unit moves in circle to water crops in dry Season. Photo: NAN
Oil revenue money that
had been frozen under international embargoes is set to start flowing to Iran from February 1, 2014, with a target to cap its nuclear programme.
The Tide learnt that one of the states, Tehran, would receive a first payment of 550 million dollars.
An Senior U. S. Administrator, said that the total of 4.2 billion dollars were to be handed over in six months payments to the concerned parties.
In Brussels, the European Union, has promised it would fulfill its promise to partly lift sanction on Iran as part deal.
According to the EU foreign policy chief, Catherine Ashton, the EU sticks to its comments when it concerns sanctions and take all the necessary steps.
Ashton, who spoke through her spokeswoman, Maja Kocijancic, noted that all moves in that direction must be followed, so that what was agreed would also be fulfilled.
Our reporter also gathered that the agreement between Iran and the six World Powers would commence today Monday, January 20, 2014, when Tehran is to start rolling back parts of its nuclear programme.
Meanwhile, the Iranian Deputy Foreign Minister, Abbas Aragchi, has said that those talks could begin in two to three weeks, adding that the venue is not yet decided.
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Dangote Refinery Resumes Gantry Self-Collection Sales, Tuesday
This is revealed in an email communication from the Group Commercial Operations Department of the company, and obtained by Newsmen, at the Weekend.
The company explained that while gantry access is being reinstated, the free delivery service remains operational, with marketers encouraged to continue registering their outlets for direct supply at no additional cost.
The statement said “in reference to the earlier email communication on the suspension of the PMS self-collection gantry sales, please note that we will be resuming the self-collection gantry sales on the 23rd of September, 2025”.
Dangote Petroleum Refinery also apologised to its partners for any inconvenience the suspension may have caused, while assuring stakeholders of its commitment to improving efficiency and ensuring seamless supply.
“Meanwhile, please be informed that we are aggressively delivering on the free delivery scheme, and it is still open for registration. We encourage you to register your stations and pay for the product to be delivered directly to you for free. We sincerely apologise for any inconvenience this may cause and appreciate your understanding,” it added.
It would be recalled that in September 18, 2025, Dangote refinery had suspended gantry-based self-collection of petroleum products at its depot. The move was designed to accelerate the adoption of its Free Delivery Scheme, which guarantees direct shipments of petroleum products to registered retail outlets across Nigeria.
The refinery stressed that the earlier decision was an operational adjustment aimed at streamlining efficiency in the downstream supply chain.
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