Category: Oil & Gas

Men Who ‘Bought’ Shell: Real Story Behind The Renaissance $2.4Bn Deal

Ganiyu Amodu

▪️ Shell will exit Nigeria’s onshore after about a century for companies controlled by these titans. Meet the real “beings” behind the deals   Energy giant Shell has committed to divesting its onshore oil and gas assets in Nigeria for $2.4 billion, indicating a strategic move away from onshore oil production. A consortium, led by the Nigerian independent energy firm Renaissance Oil and including ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin, marks a significant transformation in Nigeria’s oil industry landscape. Here are the titans behind Renaissance Samuel Dossou…

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BREAKING: 100%: Renaissance Africa Energy Acquires Shell’s Asset In SPDC

ADEOLA YUSUF

“Completion of the transaction is subject to the requisite regulatory approvals,” full statement the consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group, issued. Renaissance Africa Energy has announced the acquisition of Shell’s entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC). “We are pleased to announce the signing of a landmark transaction with Shell to acquire its entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC),” the company told…

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Seven Major Marketers Approved To Sell Dangote Fuel + FULL LIST

Ganiyu Amodu

Seven notable oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to handle the lifting and distribution of refined petroleum products from the $20 billion facility. Dealers, operating under the Major Oil Marketers Association of Nigeria, stated on Sunday that upon completion of the registration process, they would commence the distribution of petroleum products produced at the plant as soon as business arrangements are finalized. This coincided with the announcement made by the Independent Petroleum Marketers Association of Nigeria that they would be meeting this week to negotiate…

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NNPCL To Hand Over Port Harcourt Refinery To Private Operators

Ganiyu Amodu

As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.” In a publication on its website on Monday, the NNPCL said the contract scope shall cover refinery business processes like…

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‘Lie Detected,’ Reactions As Port Harcourt Refinery Fails Delivery Deadline

Damilola Olonade

▪️ $1.5 bn loan-funded rehabilitation: refinery delivers zero litre as minister, NNPC flaunt mechanical completion ▪️ Platforms Africa ends countdown amidst commendations     The 60,000 barrels capacity Port Harcourt Refinery is not ready as promised. The asset has not produced a litre of petrol as of 12:09 am, today, the first of January, 2024, minutes after the December 2023 deadline promised by the officials to deliver it, Platforms Africa reports authoritatively. This reputable media group flagged off on November 29, a countdown on the promised December 2023 deadine to…

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NIPCO Inaugurates Auto Gas station in Abuja, Ups Commitment to Nigeria

Abibat Babalola

In a significant stride towards providing economical, sustainable and environmentally friendly fuel for transportation, NIPCO Gas Limited has once again underscored its unwavering commitment to environmental stewardship with the inauguration of Auto CNG station in Kubwa ,Abuja . The station.which commenced operations over over the weekend is an affirmation of the company’s determination to ensure widespread availability of Auto CNG across Nigeria . As the nation grapples with the challenges of fuel expenses, and environmental sustainability and seeks cleaner energy alternatives, NIPCO Gas is at the forefront of driving positive…

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Nigerian Govt Okays 100% VAT Waiver on Cooking Gas, CNG

Abibat Babalola

The Nigerian Government has approved a zero per cent Value Added Tax (VAT) waiver on Feed Gas for all processed, Compressed Natural Gas (CNG) and imported liquified petroleum gas, with immediate effect. The VAT-free waiver also extends to CNG equipment components, conversion and installation services, Liquified Petroleum Gas (LPG) equipment components, conversion and installation services, and all equipment and infrastructure related to the expansion CNG, LPG and the Presidential CNG Initiative, including conversion kits. In a circular, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, directed…

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Angola Mulls Exit From OPEC

Abibat Babalola

…Plan triggers crude price fall       Angola, the second largest oil producer in Africa after Nigeria, has announced its departure from the Organization of the Petroleum Exporting Countries (OPEC), the country’s news agency Angop reported. EnergyDay gathered that the announcement was conveyed by Angolan oil minister Diamantino de Azevedo. on Thursday, following the 10th session of the council of ministers under Angolan President Joao Lourenco. This development comes in the wake of OPEC, led by Saudi Arabia, reducing Angola’s oil output target for the upcoming year as part…

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Ogbe Assumes Office As Exec Sec NCDMB, Tasks Staff on Results

Precious Ibekwe

Ogbe You Don’t Know: NCDMB publishes official profile of new ES + PHOTOS   The newly appointed Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe has assumed office and held his first official meeting with the Directors and management of the Board. Platforms Africa reports that Ogbe was appointed on Thursday by President Bola Tinubu, replacing Engr. Simbi Kesiye Wabote, who had served for seven and half years in office. READ ALSO: BREAKING: Senate President Akpabio Slumps, Hospitalised BREAKING: NNPC’s Ex- GMD Is…

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Nigeria Rejects 328 Expatriate Requests From Oil Firms In 12 Months

ADEOLA YUSUF

NCDMB hits 83% 10-year roadmap target, gives reasons oil firms’ expatriate applications surge by 359 in one year   The Nigerian Content Development and Monitoring Board (NCDMB) has rejected 328 expatriate applications from oil firms just as it hits 83 per cent of its 10-tear roadmap target Platforms Africa reports that the Manager of strategy at the NCDMB, Mr. Olubisi Okunola, who reeled out these data at the capacity building workshop for media stakeholders in Lagos, maintained that the board received more applications for expatriates quota increase in 2023 than…

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