Author: Rareview

By Ali Elias The recent adjustment in petrol prices by independent oil marketers in Nigeria, particularly in the Federal Capital Territory (FCT), marks a significant development in the nation's downstream oil sector. Following the deregulation of the petroleum industry, marketers are now sourcing petrol directly from the Dangote Refinery, reflecting the end of the exclusive purchase agreement previously held by the Nigerian National Petroleum Company (NNPC). With pump prices rising to around N1,200 per liter, this shift has far-reaching implications for both the oil market and the broader Nigerian economy. The deregulation has paved the way for competitive pricing, altering the dynamics between oil marketers, refineries, and consumers. Implications for the Nigerian Economy The ...

By PR The NNPC Ltd/ Seplat Energy Joint Venture (JV) partnership has conducted a medical outreach, providing free eye health services to individuals with visual impairments in Ohaji/Egbema community of Imo State. Through its “Eye Can See” programme, a Corporate Social Responsibility (CSR) initiative, the JV dispensed more than 10,000 reading glasses and successfully performed 639 eye surgeries, including cataract removals, for host community members who otherwise had limited access to such vital medical services. The “Eye Can See” programme, which commenced in 2017, has been a beacon of hope in the eastern asset of the NNPC upstream investments, positively impacting over 20,000 people to date.  In his remarks during the event, Chief Upstream Investment Officer of NNPC's Up...

By PR In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 Gas Technology Conference and Exhibition (Gastech), in Houston, United States, on Thursday.Brass LNG and OK LNG are two LNG projects with the potential of manifold economic benefits for the country which include job creation, power generation, revenue generation and economic diversification. The multi-billion dollar projects were however stalled due to unfavourable market dynamics and slow decision-making by the political...

By Ali Elias In a landmark development for journalism in Nigeria, Nigeria LNG Limited (NLNG) has announced the creation of the "NLNG Prize for Energy Reporting" at the prestigious Diamond Awards for Media Excellence (DAME). This new category is designed to acknowledge and reward exemplary reporting on energy issues in the country, underscoring the media's pivotal role in informing and shaping public discourse around Nigeria’s dynamic energy sector. The announcement was made during an event titled “Celebrating the Voices of Impact,” held in Lagos over the weekend. The event celebrated the media’s remarkable contributions over the last 20 years to NLNG’s signature projects: The Nigeria Prize for Literature and The Nigeria Prize for Science. The media's tireless efforts have been critic...

Executive Secretary Engr. Felix Omatsola Ogbe (centre, front row) flanked by some of his directors with some of the participants (standing) at the meeting By PR The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had eliminated middlemen from the oil and gas industry value chain and contributed to shortening the oil industry contracting cycle to six months, courtesy of the three Presidential Directives on Local Content operations issued by President Bola Tinubu in March 2024. The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe stated this in Lagos while speaking at a breakfast meeting with some media executives. Executive Secretary Engr. Felix Omatsola Ogbe (centre) flanked by some of his directors He confirmed that NCDMB had co...

…Urges collaboration among African oil service firms By PR The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday signed a Memorandum of Understanding (MoU) with the Petroleum Commission, Ghana (PCG) towards developing and deepening local content regulations in Ghana’s upstream petroleum sector. The signing ceremony took place at the sidelines of the 2024 Annual Local Content Conference and Exhibition held at Takoradi, Ghana. The MoU is valid for three years and it is centred on the desire to build synergies through information sharing and transfer of skills of mutual interest and benefits. Under the MoU, NCDMB will offer PCG strategic advic...

Shell has named a new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo.) He is Ronald Adams, formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director. Both appointments take effect today (October 1.) Country Chair, Shell Companies in Nigeria, Osagie Okunbor said: “I’m pleased to welcome Ronald to Nigeria to consolidate and further improve the outstanding performances of SNEPCo in deep-water production and life-changing social investments across Nigeria. I wish to congratulate Elohor for the outstanding deliveries since she took over in August 2021. The assignment in Brunei is ...