Category: Oil and gas

  • NNPCL Spokesperson Femi Soneye Resigns.

    NNPCL Spokesperson Femi Soneye Resigns.

    Felicia Asuquo, Abuja 

    Spokesperson for the Nigerian National Petroleum Company Limited (NNPCL), Femi Soneye, has resigned.

    A statement personally issued by Soneye on Saturday said his resignation was to allow him to focus on personal businesses.

    “I extend my heartfelt gratitude to you all for the unwavering support, professionalism, and genuine commitment you’ve shown in helping to shape and amplify the NNPC Ltd story over the past 20 months.

    “Your role in building a vibrant and effective communications presence for our national energy company has been nothing short of invaluable.

    “I wish to inform you that I have stepped aside from my role as Chief Corporate Communications Officer of NNPC Ltd.

    “This decision will allow me to devote more time to my family and attend to personal responsibilities that now require my closer presence.

    “It has been a profound honour to serve both the Company and our country, and to contribute in my own way to the ongoing transformation of NNPC Ltd. I am deeply grateful for the trust reposed in me, the opportunities granted, and the incredible professionals both within and outside the organisation with whom I have worked.

    “I remain a steadfast supporter and ambassador of NNPC Ltd wherever I go. I enjoin you, dear colleagues, to continue your robust, balanced, and constructive reportage in support of the Company’s noble mission and strategic role in Nigeria’s energy future.”he submitted

     

  • Dangote Refinery Splashes Petrol Price Nationwide.

    Dangote Refinery Splashes Petrol Price Nationwide.

    Tunde Omoniyi 

    The Dangote Petroleum Refinery has announced a fresh cut in the pump prices of Premium Motor Spirit (petrol) nationwide.

    The new rates now range from ₦875 to ₦905 per litre, depending on location.

    A breakdown of the revised prices shows, Lagos:₦875, South-West ₦885, North-East: ₦905, North-West & Central: ₦895, and South-South & South-East: ₦905

    Prices indicate a ₦15 reduction per litre across all regions and partner retail outlets, applying to all major fuel marketers in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.

    Before the new price template, Lagos residents paid ₦890 per litre, while prices rose to ₦920 in the North East and South-South regions.

    Lagos residents will now pay ₦875, while those in the North East and South South will pay ₦905 per litre with the new adjustments.

    “Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company stated in the notice.

    The development comes after the 650,000 Lekki-based refinery on Monday said the naira-for-crude deal allowed it to reduce the price of petrol at the pumps.

    In a release signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

    The company affirmed that the prices of petrol will remain affordable and stable.

     

     

  • What You Should Know About The New CEO Of NNPC,Ojulari.

    What You Should Know About The New CEO Of NNPC,Ojulari.

    Emmanuel lkpeama 

    President Bola Tinubu on Wednesday, appointed Engineer Bashir Ojulari as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited.

    This was announced by the Special Adviser to the President on Information & Strategy,Mr Bayo Onanuga, the president had invoked Section 59, subsection 2 of the Petroleum Industry Act, 2021, which emphasized that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.

    Investigator news reports that Tinubu sacked the Chairman of the company, Pius Akinyelure and the Group Chief Executive Officer, Mele Kyari.

    He also removed all other board members appointed with the Chairman, Pius Akinyelure and the Group Chief Executive Officer, Mele Kyari in November 2023.

    The new 11-man board now has Ojulari as the Group CEO and Ahmadu Kida as the Non-Executive Chairman.

    Ojulari, the new NNPC Limited Group CEO, hails from Kwara State.

     

    READ ALSO:Tinubu Replaces Kyari, NNPC Board  Makes New Appointment.

    Until his new appointment, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.

    His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth $2.4 billion.

    Ojulari is also an alumnus of Ahmadu Bello University, Zaria. He graduated with a degree in Mechanical Engineering.

    He worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector.

    From Elf, he joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.

    Apart from working in Nigeria, he worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager.

    In 2015, he became the managing director of Shell Nigeria Exploration and Production Company (SNEPCO).

    During his career, he was chairman and member of the board of trustees of the Society of Petroleum Engineers (SPE Nigerian Council) and a fellow of the Nigerian Society of Engineers.

     

     

  • Energy Expert Adeyinka Adefioye Oki Unveils Homegrown Solutions To Nigeria’s Gas Flaring Crisis.

    Energy Expert Adeyinka Adefioye Oki Unveils Homegrown Solutions To Nigeria’s Gas Flaring Crisis.

    Emmanuel lkpeama 

    Gas flaring, the harmful practice of burning off excess natural gas during oil extraction, has remained a persistent challenge for Nigeria, costing the country billions of dollars annually while exacerbating climate change. 

    Despite government efforts and policies aimed at reducing the flaring index, Nigeria remains among the world’s top contributors to the problem.

    Speaking with investigator news,a respected energy expert and environmental advocate Adeyinka Adefioye Oki, believes this narrative can change swiftly if local expertise is prioritized and technological innovations are embraced.

    Gas flaring at an oil refinery.

     

    Oki emphasized that Nigeria possesses untapped potential to turn flared gas into usable energy products like Liquefied Petroleum Gas (LPG) and other derivatives, noting that these can not only boost Nigeria’s domestic energy market but also create employment opportunities and strengthen the country’s export potential.

    “We have indigenous capacities and solutions. “What we lack is the will to consistently back these initiatives with the right investments, policies, and partnerships.”he said

    He went further to highlight a concern gap between government policies and their execution on the ground.

    “There is often a disconnect between policy creation at the federal level and what actually happens at oil fields and terminals. We must bridge this gap to see lasting results,”

    “As a passionate advocate for energy justice,l want to urge the Nigerian government to engage local experts who understand the intricacies of both the energy industry and Nigeria’s socio-economic realities.

    “Relying solely on international consultants and multinationals without involving domestic experts is part of why Nigeria has not resolved this problem,” he argued.

    Backed by years of research, Oki’s proposed blueprint which could position Nigeria as a regional leader in clean energy if fully adopted, while calling on the Federal Government, the Ministry of Petroleum Resources, and industry stakeholders to urgently initiate collaborative frameworks that will empower local solution providers and reduce the nation’s carbon footprint.

    “Nigeria cannot afford to burn away its wealth,” Oki concluded as he emphasized the broader environmental and economic consequences of inaction

  • Naira For Crude Transactions Will Ensure Oil Sector Stability – President Tinubu 

    Naira For Crude Transactions Will Ensure Oil Sector Stability – President Tinubu 

    Felicia Asuquo, Abuja 

    President Bola Tinubu believes the naira for crude transactions will stabilise the oil sector. 

    Tinubu said this on Tuesday in a review meeting with the Implementation Committee on the Naira-based sales of crude oil and refined products.

    “Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years,” presidential spokesman Bayo Onanuga quoted his principal as saying in a Tuesday statement.

    “There can be cost and revenue adjustment in the oil sector, but the issue is that the government will not have to go back to the old way of doing things.”

    According to him, using the naira was aimed at removing the exchange rate hurdle.

    He lauded the committee for their efforts and asked the members to resolve any teething problems.

    President Tinubu called on stakeholders in the oil sector to work for the betterment of the Nigerian economy and the living standards of Nigerians.

    He called on them to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation.

    Tinubu advised stakeholders to use Afreximbank as a settlement bank to resolve the naira pricing for crude and refined products. Afreximbank is already on board as the financial adviser, Onanuga’s statement read.

    “The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet. I want the issues resolved without future waste of time,” the Nigerian president added.

    “We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium and long-term basis,” Tinubu said.

    Investigator news reports that during the meeting, the President and Chief Executive of Dangote Group asked marketers to patronise Dangote Refinery.

    According to him, the refinery had over 500 million litres of fuel in reserve after supplying 400 million to the economy.

    “What I estimated as our daily consumption is about 30-32 million litres, that one we can even start producing by next week. That is not really an issue because as we speak today, we have 500 million litres in our tanks. With that even if there is no production anywhere or no import, that will take the country more than 12 days,”  Dangote said.

    “We are very ready, we are more than ready and I am also putting my name on the line that we will be able to supply the market 30 million per day and we are ramping up, so we are ready.

    “So I am expecting that the NNPCL and the marketers should stop importing, they should come and collect what they need. I don’t know if you understand what it means to keep half of billion litres in our tanks, it is costing me money. Every day if I am to collect money I can charge 32 per cent in interest. That is what I am losing. If they come and collect, then you will not see any queue in the filling stations.”h

  • 300 NNPCL Trucks Arrives Dangote Refinery For Loading.

    300 NNPCL Trucks Arrives Dangote Refinery For Loading.

    Felicia Asuquo 

    Soon Nigerians would heave a sign of relief as at least 300 trucks belonging to the Nigerian National Petroleum Company Limited (NNPCL) are at the Dangote refinery at the moment in preparation for the scheduled petrol loading on Sunday.

    The spokesperson for the NNPC, Olufemi Soneye confirmed this in a video on his X handle on Saturday.

    According to him, as of Saturday afternoon, NNPCL had deployed over 100 trucks, with hundreds more en route.

    Investigator news reports that,the Presidential Committee on the Sale of crude oil and Refined Product announced that loading of the first batch of petrol from the Dangote Refinery will commence on Sunday, September 15

    A member of the committee and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja on Friday.

    The FIRS boss had while briefing journalists, said that from October 1, the NNPCL will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.

    “I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September,” Adedeji stated.

    He explained that Dangote Refinery will in return supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.

    Other agreements reached by the committee include the sale of Diesel in Naira by the Dangote Refinery to any interested off-taker while PMS will only be sold to NNPC.

    “From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.

    “In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.

    “Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira.”

    The agreement is expected to ease the severe shortage of petrol across the country and probably bring the price which has skyrocketed recently down.

     

  • Transport minister in maritime contract mess — two weeks to exit

    Transport minister in maritime contract mess — two weeks to exit

    With less than 20 days to the end of the Muhammadu Buhari-led administration, Mu’azu Jaji Sambo, minister of transportation, has been accused of attempting to hijack the award of a lucrative maritime contract.

    It was gathered tgat Sambo pressured relevant government institutions to terminate a procurement process and give the contract out to July Seventh Ventures Limited, a company linked to a former governor of Ogun state.

    The job in contention is the channel dredging contract by the Nigerian Ports Authority (NPA).

    Following the expiration of the previous Bonny Port dredging contract, the NPA management initiated a process to contract the task to qualified companies through an international competitive bidding process.

    Aside the documented communication, the minister was said to have told persons involved privately that his attempt to seal the deal is at the behest of President Muhammadu Buhari, who, Sambo allegedly claimed, had directed him to give one of the channels to his long-term associate and former governor.

    A search at the Corporate Affairs Commission (CAC) shows that two directors of July Seventh Ventures Limited, who served under the former governor, were appointed into the position around the time Sambo began pushing for the company to take over Bonny Port dredging through the now controversial process.

    Read Also: 10th Assembly Speakership: NDF condemns APC’s appointment of principal officers

    In his bid to hasten the process and push for the contract, Sambo is working round the clock to pull the strings and ensure the Bureau of Public Procurement (BPP) is pressured into giving its nod on the deal, according to insiders.

    The minister also reportedly held a weekend meeting with Mamman Amadu, director-general of BPP, and the leadership of the NPA on May 6.

    The minister also took the BPP boss to see a top presidential aide at home to have the process fast-tracked, it was alleged.

    But Mamman was said to have pointed out the implications to both the minister and the presidential aide, pleading with them to allow the NPA management conclude the process already in the pipeline.

    The process for engaging new dredging companies for the three politage districts covered by the NPA was halted following refusal by its management to issue award letters to the pre-qualified companies, despite the certificate of no-objection issued by the BPP.

     

    The NPA management, in a letter dated November 23, 2022, employed some technicalities along the initial procurement process to justify its request for cancellation of the almost concluded process and restarting it.

    Disturbed by the suspicious moves, two of the pre-qualified companies in the botched procurement process, Messrs Dredging and Reclamation Jan De Nul Limited and Red Star Global Construction Limited approached federal high courts in Lagos and Abuja separately challenging the attempt to cancel the procurement process.

    With the new legal challenge, both the BPP and Abubakar Malami, the attorney-general of the federation, have advised against the termination of the process pending the determination of the matter.

    In a letter dated February 22, 2023, to one of the plaintiffs signed by the director solicitors of the ministry, she indicated that the attorney-general of the federation is unable to intervene on the matter in view of its pendency in court.

     

    Insiders, however, said Sambo has refused to yield any ground

     

  • NNPC, Morocco to sign gas pipeline MoU Thursday

    NNPC, Morocco to sign gas pipeline MoU Thursday

    The Nigerian National Petroleum Company Limited will on Thursday sign a Memorandum of Understanding with the Office National des Hydrocarbures et des Mines of Morocco.

    In a series of tweets via its official Twitter handle on Wednesday, the NNPC stated that the MoU, which would be signed in Rabat, Morocco, would also involve the Economic Community of West African States.

    The oil firm said, “In line with Federal Government’s mandate to drive the execution of the 7,000km Nigeria Morocco Gas Pipeline Project, the Group Chief Executive Officer, NNPC Ltd, Mele Kyari, today (Wednesday) paid a courtesy call on the President, ECOWAS Commission, Dr. Omar Touray.

    “The visit was in preparation of the signing of a Memorandum of Understanding between the NNPC Ltd, Office National des Hydrocarbures et des Mines (ONHYM) of Morocco and the ECOWAS, scheduled to hold on September 15, 2022 in Rabat, Morocco.

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    “During the visit, the NNPC Ltd and the ECOWAS Commission reaffirmed their commitment towards the project, which, when completed, will provide gas to the West African countries through to the Kingdom of Morocco and subsequently to Europe.”

    It added, “The NNPC and ONHYM would also sign two MoUs with Société Mauritanienne des Hydrocarbures of Mauritania and Petrosen of Senegal, both of whom are expected to participate in the project.”

    The NNPC stated that once completed, the project would supply about three billion standard cubic feet of gas along the West African Coast from Nigeria, Benin, Togo, Ghana, Cote d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea Bissau, Gambia, Senegal and Mauritania to Morocco.

    “Other benefits of the NMGP project include improving the living standards of people, integration of the economies within the sub-region and mitigating against desertification through sustainable & reliable gas supply,” the oil firm stated.

  • US, Nigeria Agree on Gas Deployment in Push for Renewable Energy Sources

    US, Nigeria Agree on Gas Deployment in Push for Renewable Energy Sources

    Mr. John Kerry, the United States’ Special Envoy on Climate Change and a member of the country’s security council, assured Nigeria yesterday of the country’s technical assistance in its efforts to decarbonize its energy sources.

    Kerry, a former US Secretary of State, said during a visit to the Minister of State for Petroleum Resources, Mr Timipre Sylva, in Abuja that the two countries agreed to collaborate closely in the deployment of gas as a transition effort as part of the move toward clean and renewable energy.
    In addition, the United States announced yesterday that it would commit $200 million to assist Nigeria and other countries in transitioning to clean energy sources more quickly. In Abuja, the US Special Presidential Envoy for Climate Change announced this during a separate courtesy visit to the Minister of Environment, Mohammed Abdullahi.

    Furthermore, while briefing the press on the outcome of the meeting with Sylva, Kerry, a former US lawmaker, noted that the country was interested in Nigeria’s methane abatement and decarbonisation programme, promising that the initiative would be supported by his country’s Department of State, Energy.

    Kerry stated that it would be completely irresponsible for the United States not to acknowledge the reality of the climate change challenge, stressing that 80 per cent of all the emissions in the world come from just 20 countries.

    At the same time, he admitted that 48 sub-Saharan African states were responsible for just 0.5 per cent of all emissions, but said no country embarked on the industrial revolution with the intention of polluting the world.
    “Mother nature, whose life has been greatly disturbed by the act of human beings, doesn’t measure whether the emissions are Chinese emissions or US emissions or Europe emissions. It’s the conglomerate of all the emissions.

    “And the challenge of the climate crisis comes from the emissions that come the choices we make, about how we power our vehicles, our homes, light our homes, heat our homes, and how we have energy that cooks and provides for our lives. That’s just the reality,” he added.

    Stressing that Nigeria was one of the countries in Africa that would suffer the most from the consequences of the climate crisis, he explained that although he was not in the country to tell Nigeria that it was emitting too much, Nigeria needed to know that its policies would have a profound impact on the global effort to solve the problem.

    Quoting scientists, Kerry stated that to avoid the worst consequences of the climate crisis, the world has to reduce its emissions by a minimum of 45 per cent or up to 50 per cent.
    “What we don’t want to have happen is that Nigeria and other countries make a decision that they’re going to build out a capacity infrastructure that is going to undo what we’re trying to do and set us back,” the US envoy stated.

    “I don’t know if you know this, but literally one half of the gas Nigeria vented, or flared, or leaked was 10 billion cubic metres of methane. That’s according to the recent World Bank report. And according to the global methane pledge energy pathway, that is equivalent to over half of Nigeria’s total gas consumption which was vented, flared or leaked.

    “That’s money lost to Nigeria and if you capture that, you can sell it at a place like Europe, they have a high need for that now. So there’s a great benefit to Nigeria to be involved in the methane pledge and to move forward,” Kerry stated.

    “We are convinced that there are significant abilities to have greater amounts of clean energy deployment in terms of solar and geothermal which cannot only provide you with clean fuel and it’s cheaper, it’s less expensive.

    “So we’re not going to solve every problem here today. But I think we have set up a structure with a working group that’s already been announced previously, but we want that working group to kick into higher gear.

    “We want to figure out exactly how we could be helpful to each other as we go forward. What Nigeria decides to do because of its amount of gas will have a profound impact on what other countries decide. We want to be certain to try to do everything we can to avoid the worst consequences of this crisis,” he noted.

    Stressing that President Joe Biden had put $12 billion on the table as part of that programme, in order to help countries to reduce the obvious impacts of the climate crisis, he added that the rapidity of the melting of the ice sheets, the rising sea level, the increased heat on the planet was not what should be joked with.

    “15 million people die every year from the quality of the air that comes from pollution, which is greenhouse gases. 5 million people a year die from just the extreme heat and that’s getting worse. So our urgency cannot be stated strongly enough,” he said.

    In his comments, Sylva said both countries agreed on the need to work together on global gas emission reduction, stating that a team has been set up to work out the details.

    He insisted that the “lesser evil” was to provide energy to Nigerians by utilising gas, explaining that at this moment, Nigeria is not the biggest contributor to global carbon emissions.

    “In fact, I will just tell you that in the scenario, that 48 countries in Africa contribute just 0.5 per cent of carbon emissions. And if we double our power production and consumption in this country, at this moment using gas, we will only be increasing carbon emissions by another 0.5 per cent.

    “That means we’re only responsible for contributing about 1 per cent of global carbon emissions. We are not denying the fact that climate change is real. We accept the problem of climate change.

    “And we will also like to say that on the energy transition, we have certain realities that the world must take into account. Our reality is that we have this number of people without access to electricity, but we don’t have the funding and the technology to be able to achieve this transition,” he added.

    Also, Kerry said the United States would commit $200 million to help Nigeria and other countries transit faster to clean energy sources.

    He said this known during a courtesy visit to the Minister of Environment.

    He said the support, captured under the US Clean Energy Demand Initiative, would help countries to implement the buying and production of green products.

    Kerry signed a memorandum of understanding (MoU) with the minister on the initiative, saying the programme would also help to address the climate crisis and create jobs for Nigerians.

    “The initiative is also to accelerate the marketplace creation so that it will help the transition programme faster and help to achieve a clean energy economy as well as dealing with the climate crisis.

    “We have $200 million at the moment committed to startups in the process of safety for the programme. But we know that ultimately this transition is going to take billions of dollars and even trillions of private investments.

    “We talked today about the ways in which we can be helpful to bring a major amount of capital to the table with technology to help Nigeria move faster to the clean energy economy. That is the future and all of the citizens of Nigeria will benefit from cleaner air.”

    “You are a producer of fossil fuel you have enormous gas reserves. But you also have great respect for the land and great concern about how to proceed forward. And so I would like to explore with you and listen to you to think through how we can work together as you implement your own climate change,” he added.

    Reacting, the Minister, thanked the US government for considering Nigeria as one of the countries to participate in the Clean Energy Demand Initiative.

    He assured that the ministry was committed to working with the US government for the effective implementation of environmental programmes and to achieve net zero in Nigeria.

  • FG Urged To Revoke N48bn Pipeline Surveillance Contract From Tompolo

    FG Urged To Revoke N48bn Pipeline Surveillance Contract From Tompolo

    A rights activist in the Niger Delta region, Mrs Rita Lori-Ogbebor, has urged the federal government to revoke the N48bn pipeline surveillance contracted it awarded to ex-militant warlord, Government Ekpemupolo, alias Tompolo.

    She asked the government to take up the responsibility of protecting the region in order to avert a crisis worse than the one going on in the north.

    Read Also: Breaking: FG drops charge against Nnamdi Kanu

    She noted that a Niger Delta’s warlord, Mujahid Dokubo Asari, had spoken against the contract awarded to Tompolo.

    On the Niger Delta Development Commission, she said the Act establishing the NDDC and master plan guiding the commission should be implemented to ensure equity, fairness and justice.