Category: Oil & Gas

How NNPC, Sahara JV Plots Cooking Gas Penetration Across W’Africa

ADEOLA YUSUF

Joint venture announces FID on sub-regional LPG jetties’ construction WAGL Energy Limited, a joint venture business operated by the Nigerian National Petroleum Company (NNPC) Limited and Sahara Group, is set to develop and construct jetties across West African countries to boost the supply and penetration of Liquefied Petroleum Gas (LPG) in the sub-region. Emmanuel Ubani, Managing Director, WAGL Energy Limited said discussions were already at advanced stages for the first in the lot. READ ALSO: Why Nigeria Cannot Introduce Subsidy On Diesel – NNPC All Nigeria’s Refineries Producing Zero Litre…

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NCDMB Partnering Shell, ExxonMobil, NAOC in Oil, Gas Parks – Wabote

ADEOLA YUSUF

Major international operating oil and gas companies, notably Shell Petroleum Development Company (SPDC) and Exxon Mobil Nigeria, and the Nigerian Agip Oil Company (NAOC) have made significant investments in support of the ongoing development of the Nigerian Oil and Gas Parks Scheme (NOGaPS), the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Kesiye Wabote has revealed. He stated this recently at the Nigerian Content Sensitization Programme for Law Enforcement Agencies, organised by the NCDMB in Yenagoa, Bayelsa State with a view to strengthening the existing collaboration with…

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Seplat, HEI Ink Critical Emergency Skills Deals for Young Nigerians

ADEOLA YUSUF

Independent energy company, Seplat Energy Plc, has partnered with Health Emergency Initiative (HEI) to build the capacity of secondary school students on CPR and First Aid skills necessary to handle prehospital emergencies. Platforms Africa reports that over 30 secondary schools across the six district in Lagos benefited from the programme.. This initiative, according to a statement, became imperative with the growing anxiety about the high incidence of cardiovascular diseases (CVDs) such as heart attack, cardiac arrest, and the attendant fatalities among Nigerians in recent years. Similarly, the menace of Road…

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N74bn Bridging: You Lied, Marketers Confront NMDPRA, Threaten Scarcity

ADEOLA YUSUF

IPMAN Mohammed Shuaibu challenged the NMDPRA Chief Executive, Farouk Ahmed, to reveal names of the marketers the government paid the N74 billion to as well as show documents to prove that.   Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened that Nigeria could witness the mother of all fuel queues from next week if the Federal Government does not pay the 12 months bridging claims being owed operators in the downstream oil sector. IPMAN which claimed it controls about 70% of the…

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Oil To Hit $200 Per Barrel Soon: SEB Group

ADEOLA YUSUF

“Why G7’s price capping proposal is a “recipe for disaster”   Oil prices are likely to soar past $200 per barrel if G7 manages to cap the price of Russian crude oil, according to chief commodities analyst at Swedish bank SEB Group. Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under. The G7 leaders agreed on Tuesday to study ways to cap the price of Russian oil…

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BREAKING: Bridging Payment To Fuel Marketers Hits N74bn in 7 Months

ADEOLA YUSUF

Here, according NMDPA, is the breakdown of how much MOMAN members, IPMAN members, NNPC Rwtails and DAPPMAN members collected.   Payment of bridging claims to fuel marketers in Nigeria has hit N74 billion in just seven months Platforms Africa reports that the Nigeeia Midstream and Downstream Petroleum Regulatory Authority (NMDPA), which declared this in a statement maintained that so far, the Authority paid N71,233,712,991 bridging claims and another N2,736,179,950.84 freight differentials to the Marketers as at 6th June, 2022. READ ALSO: BREAKING: Buhari Hikes Fuel Freight Rate, Worsens Subsidy Burden…

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Why Nigeria Cannot Introduce Subsidy On Diesel – NNPC

ADEOLA YUSUF

It is regrettable that Nigeria’s petroleum refineries are not working and the possibility of introducing subsidies on Automotive Gas Oil, also known as diesel, is unlikely, the Federal Government has said. The Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made this known in Abuja on Tuesday stated that the government cannot afford the payment of subsidies on diesel. He made the comments while appearing before the House of Representatives Committee on Downstream, alongside the CEO of Nigerian Midstream and Downstream Petroleum Regulatory…

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All Nigeria’s Refineries Producing Zero Litre of Fuel – NNPC

ADEOLA YUSUF

Nigeria now depends 100% on crude swap + why no refinery functional in Nigeria at the moment, NNPC GMD opens up   Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, has said that no single litre of product is being produced from Nigerian refineries as no single refinery working at the moment in the country. Platforms Africa reports that Nigeria has four refineries with 445, 000 barrels daily cumulative capacity. Kyari disclosed the status of the refineries when he appeared before the House of…

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Real Reason Cooking Gas Price Hits N12,000 Per 12.5kg – Marketers

ADEOLA YUSUF

Marketers absolve selves of blame, open up on what potfolio investors have to do with skyrocketing gas prices   The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has blamed ‘portfolio investors’ for the high cost of cooking gas. READ ALSO: Savannah Energy Begins First Gas Sales To Central Horizon Gas Company OML 21: Nivafer Delivers HP Skid For Shell Asa North Gas Project Cooking Gas Price Skyrockets To N12,000 Per 12.5Kg NNPC, Sahara Group invest $300m in gas The president of the association, Oladapo Olatunbosun, disclosed this on Tuesday…

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Nigeria Dwarfs Education, Health Budget, Blows N2.84trn On Petrol Subsidy

ADEOLA YUSUF

INVESTIGATION: N2.84 trn spent on subsidy in 17 months doubles the N1.45 trn allocated for infrastructure in 2022 budget. It is over N700 bn higher than N2.1tr total budget for health and education. Here is Platforms Africa exclusive report on fuel subsidy and an economy in reverse gear   The Nigerian government has dwarfed the budget for three critical sectors of the economy – Education, Health and infrastructure – in 2022 fiscal year with the N2.84 trillion already spent on petrol subsidy in the last 17 months, investigation by Platforms…

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