Category: Oil & Gas

Sahara Group Urges Investments in Africa to Achieve Low Carbon World

ADEOLA YUSUF

Sahara Group has urged developed countries to embark on intentional technological investment in sustainable projects in Africa and other developing economies to enhance global efforts towards achieving a low carbon world. A statement sent to Platforms Africa quoted the Director, Governance and Sustainability, Sahara Group, Ejiro Gray, to have said this, adding that the energy access must be a critical part of the ongoing energy transition conversation, especially in developing economies. Gray emphasised the need for developed economies to take greater responsibility for moving the world closer to low carbon…

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Airlines in Nigeria To Shut Down Thursday As Aviation Fuel Scarcity Worsens

ADEOLA YUSUF

Chairman Airpeace, Allen Onyema, demands Jet A1 Import License, says all airlines to run out of fuel in three days   Allen Onyema, Airpeace Chairman, has warned that Airlines in the country would shut down operations over the non-availability of Aviation fuel to run their operations. ‘We have only three more days, all airlines in Nigeria will shut down. We are not threatening this country, it is a fact”, Onyema said. READ ALSO: Nigerian Varsities Remain Shut Till May As ASUU Extends Strike For 8 Weeks BREAKING: National Grid Collapses,…

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Diesel Price Hits N720 Per Litre, Nigerian Manufacturers Groan

ADEOLA YUSUF

The Manufacturers Association of Nigeria (MAN), is seeking urgent intervention from the government to support the production of goods, as the price of aitomative gas oil (AGO) also known as diesel hits N720 per litre. The Oyo, Osun, Ekiti and Ondo branches of the Chairman, MAN, Lanre Popoola stated this in Ibadan on Sunday, while speaking on the increase of prices of petroleum products and lack of power supply. “It is a difficult thing ensuring production at this time, as diesel has gone up to N720 and N730 per litre.…

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NCDMB, AFREXIM, APPO Mull New Funding Models For African Oil Industry

ADEOLA YUSUF

The Nigerian Content Development and Monitoring Board (NCDMB), African Petroleum Producers’ Organization (APPO), and Africa Export-Import Bank (AFREXIMBank) have outlined new and sustainable models of funding oil and gas investments in Africa, using resources drawn from the continent and de-emphasizing international financiers. The new pathways were some of the key outcomes of the African Local Content Investment Forum (ALIF) hosted by the NCDMB in Lagos on Monday and form part of the concerted efforts to overcome the decision of western nations and their financial institutions, and international operating oil companies…

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Stakeholders Laud NCDMB’s Investment in Base Oil Plant

ADEOLA YUSUF

Key stakeholders of the oil and gas industry have commended the Nigerian Content Development and Monitoring Board (NCDMB) for catalyzing the development of critical oil and gas facilities, including Bunorr Integrated Energy Limited which would produce lube oil and other lubricants in-country. The stakeholders gave their commendations when they toured the base oil manufacturing plant located near Omagwa, Rivers State. The project is one of the Board’s flagship projects and is expected to be commissioned later in the year and the visit was in continuation of stakeholders’ tour of the…

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How 33,000 Litre-Petrol Tanker Exploded In Lagos Filling Station – Witness

ADEOLA YUSUF

11 Plc probes cause of the incident as fire razed storey building, rendered many homeless There was pandemonium at Idi-Oro, in the Mushin area of Lagos State, Nigeria’s commercial capital, on Wednesday, when a tanker loaded with Premium Motor Spirit (petrol) exploded at a Mobil Filling Station in the community. The fire was said to have spread to an adjoining three-storey building, burning down the property. Eyewitnesses said the fire started around 1pm when the tanker, laden with 33,000 litres of petrol, was discharging its content at the filling station…

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Oil Firms’ Debts To Nigeria Hit N1.32trn in 2020 – NEITI

ADEOLA YUSUF

Nigeria earned $20.43 billion from the sector in 2020, a decline of 40 per cent compared to $34.22 billion realised in 2019. The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that oil and gas companies liabilities to the Federation Accounts as at December 31, 2020 was N1.32 trillion. Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, made this known on Monday in Abuja at the public presentation of reports on Oil, Gas and Mining as well as Fiscal Allocation and Statutory Disbursement. Orji, while providing highlights on the 2020…

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Nigeria, Senegal Ink MoU on Local Content Development

ADEOLA YUSUF

This is part of Nigeria’s strategic support to the development of Local Content across the African continent, which has already been extended to Ghana, Niger Republic, Uganda, Kenya, Gabon, Ugandan, and Congo Brazzaville The Nigerian Content Development and Monitoring Board (NCDMB) and the authorities of the Senegalese Petroleum Industry agreed on Tuesday to sign a Memorandum of Understanding (MoU) to guide Nigeria’s support for the development of Local Content in Senegal. This agreement was reached during a meeting in Lagos between the Executive Secretary, Engr. Simbi Kesiye Wabote and key…

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Africa Not Ready To Abandon Oil, Wrong To Blame Us For Emission ― APPO

ADEOLA YUSUF

As the global climate debate gets more intense, reaffirming the reality that the energy industry must decarbonize in order to save the earth from what may eventually become an irreversible catastrophe, meaning also that the exploitation anduse of fossil fuels must be phased out or at least phased down, the African Petroleum Producers’ Organization (APPO) has insisted that the people of Africa cannot immediately abandon the use of fossil fuels for the continent’s economic development According to Dr. Omar Farouk Ibrahim, who heads the continent’s 15 Member Countries Petroleum Organization,…

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Lagos to Probe Petrol Souvenir at Party

ADEOLA YUSUF

The attention of the Lagos State Government has been drawn to a video showing kegs of petrol being handed out as souvenirs at an event Centre in Lagos. The video has gone viral on the social media. There is no doubt that this action is dangerous and can lead to loss of lives and property. It is blatantly against all safety measures in such places. The Lagos State Government through the Safety Commission is investigating this matter and will ensure that all parties to this reprehensible action are made to…

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