Category: Energy

NNPCL Says No Explosion At Warri Refinery

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited has diismissed speculation of an explosion at the Warri Refining and Petrochemical Company (WRPC). Its spokesman,Olufemi Soneye,conveyed this a statement,saying any such report is completely false and unfounded. He explained that on January 25, 2025, operations at WRPC Area 1 were intentionally curtailed to carry out necessary intervention works on select equipment,including field instruments that were impacting sustainable and steady operations. According to him,these intervention works are essential to ensure the production of on specification finished and intermediate products, particularly Automotive Gas Oil (AGO)…

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NUPRC Goes Tough As 50 Oil Producers, Refiners Bicker Over Domestic Supply Anomaly

ADEOLA YUSUF

  . ‘Henceforth no export permits for crude oil cargoes intended for domestic refining,’ full statement the upstream regulator sent to Platforms Africa      The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has bemoaned the violation of domestic crude supply law by some producers and refiners, declaring that it would “henceforth deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations.” Platforms Africa reports that this came as more than 50 critical industry players, both the refiners and producers…

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Consortium Targets April To Complete Eko DisCo’s 60% Acquisition

ADEOLA YUSUF

    ‘In excess of $200 million,’ what to know about the deal and the activities of the consortium comprising of North South Power Company Limited (NSP), Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund (SIIF)     Transgrid Enerco Limited on Tuesday, January 21, signed a Share Purchase Agreement (SPA) for the proposed acquisition of a 60 per cent equity stake in Eko Electricity Distribution Company (EKEDC), which is envisaged to be in excess of $200 million. Platforms Africa reports that the consortium comprises North South Power Company Limited…

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’48 Hrs After Explosion Killed 98,’ Residents Scoop Oil As Another Tanker Falls

ADEOLA YUSUF

‘Poverty or Greed,’ what Tinubu, other Nigerians said about the attitude to tanker fall, scooping and explosion   Barely two days after 98 people were burnt to death or injured when a fallen petrol tanker exploded in Niger State, another tanker fell in Bida town of Niger State on Monday. In a widely circulated video online, young persons were seen milling around the broken down truck. While some managed to scoop, others fled in different directions, apparently to prevent being caught up in an unfortunate situation. Premium Times quoted a…

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Nigeria Regains Top Spot In Africa’s Oil Upstream Investment

ADEOLA YUSUF

Nigeria has reclaimed its position as Africa’s leading oil upstream investment destination, overtaking Angola despite the latter’s continued investment in major deepwater developments. Data sourced from Wood Mackenzie, Nigeria topped the continent’s upstream capital expenditure (capex) rankings in 2024, driven by a series of incremental deepwater projects and sustained activity in its rich offshore basins. The country outpaced Angola, which had held the position in recent years, by capitalising on major oil projects such as the Agogo-Ndungu development by Azule Energy, and the ongoing work on TotalEnergies’ infill projects –…

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Vandals Responsible For Buguma Wellhead Fire – NNPC Ltd

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited (NNPC Ltd) reports that the fire incident at its Buguma Wellhead 008, operated by its subsidiary, NNPC Eighteen Operating Ltd (NEOL), was directly caused by the activities of pipeline vandals attempting to compromise the Christmas Tree and steal crude oil. According to an e-signed information from NNPC Ltd, the Chief Corporate Communications Officer, NNPC Ltd., Abuja, Olufemi Soneye said that this unfortunate act of sabotage, which also resulted in severe damage to the well’s back pressure valve, reflects a disturbing pattern of repeated attacks…

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TCN Records Attacks On 18 Transmission Towers In Five Days

ADEOLA YUSUF

The Transmission Company of Nigeria (TCN) has recorded destruction of over 18 transmission towers between January 9 and 14, 2025, in Rivers, Abia, and Kano States. Ndidi Mbah, the company’s image-maker, in a statement quoted Engr. Emmanuel Okpa, to have disclosed that routine inspections uncovered significant damage to multiple towers, with specific incidents including the removal of structural components and bolts in Abia State. According to the statement, TCN’s operations face challenges due to these acts, prompting calls for community support to protect critical infrastructure. The company emphasized the need…

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13 Facts About Olumide Adeosun, Eterna Plc’s New MD/CEO

ADEOLA YUSUF

The Board of Directors of Eterna Plc has appointed Mr. Olumide Adeosun as the new Managing Director/Chief Executive Officer of Eterna Plc. According to a statement issued on Thursday by David Edet, the Company’s Secretary/Legal Adviser, the appointment will take effect on February 3, 2025. The Board commends the outgoing MD/CEO, Mr. Abiola Lawal, who has resigned from the company, effective January 31, 2025, for his significant contributions and exemplary leadership during his tenure. ‘Strengthening Infrastructure,’ NNPC To Fix Pipelines, Depots In ‘2 to 3 Years’ – Soneye 3-1: How Brighton…

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Nigeria Grows National Oil Reserves By 1.45% – NUPRC

ADEOLA YUSUF

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has disclosed that the nation grows its national oil and gas reserves by 1.45% and 0.206% respectively in 2024. Commission Chief Executive (CCE), NUPRC , Engr. Gbenga Komolafe disclosed this on Thursday at the Petroleum Industry Stakeholders’ Forum which was held at the Petroleum Technology Development Fund (PTDF) Towers in Abuja. He said, “the upstream sector experienced growth in the national oil and gas reserves by 1.45% and 0.206% respectively in 2024 compared with 2023 and oil production rose by 26% from April…

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‘Four MDs, 1 Director,’ Axxela Announces Strategic Reorganisation + Names

ADEOLA YUSUF

How the next-phase realignment will drive future growth, company gives details   Axxela Limited, a gas and power portfolio company in sub-Saharan Africa, has announced a bold organisational restructuring as part of its strategic commitment to accelerating growth and expanding market influence. This transformation to a group structure, the company said in a statement to Platforms Africa, “marks a significant milestone in the company’s journey to support Nigeria’s energy transition agenda, deliver increased customer value, and advance its pan-African expansion aspirations.” Over the past two decades, Axxela has nurtured its…

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