Energy

Courtesy Unsplash: Fossil fuel Oil-rich nations and developing countries within the G77 are emphasizing the need for a more balanced approach in global climate negotiations, pushing back against efforts by western nations to rush the phase-out of fossil fuels. According to western negotiators, these nations are urging Azerbaijan, the host country of the upcoming UN COP29 summit, to prioritize discussions on transitioning away from fossil fuels. However, the G77 countries, many of which rely heavily on oil and gas exports for economic stability, are advocating for a more equitable solution that acknowledges their unique challenges. At COP28 in Dubai last December, nearly 200 countries agreed to gradually transition away from fossil fuels by 2050, while tripling renewable energy ca...

By Paul Ejime AFTER much ado, the Nigerian National Petroleum Company Limited (NNPCL) on Sunday 15th September 2024, confirmed lifting fuel from the Dangote Refinery for sale to long-suffering consumers. Many are still wondering, why all the delay, insincerity, avoidable controversy, allegations and counter-allegations in the first place. On Tuesday, the 3rd of September 2024, Nigerians were supposed to be jubilant that their country would shed decades of an embarrassing nickname of an oil-producing nation that shamelessly imports refined petroleum products coupled with inexplicable shortages. The Lagos-based Dangote Refinery, the world’s largest integrated private oil refining project worth about US$20 billion with a production capacity of 650,000 barrels per day, rolled out its ...

By Ali Elias  The Nigerian National Petroleum Company Limited (NNPC Ltd) have announced, according to its Press Release today, the estimated prices of Premium Motor Spirit (PMS), also known as Petrol, obtained from the Dangote Refinery, at its retail stations across the country. In line with the provisions of the Petroleum Industry Act (PIA), NNPC Ltd wishes to emphasize that PMS prices are determined by market forces and negotiated directly between parties on an arm's length basis, without government intervention. The Statement titled, “NNPC Ltd Releases Estimated Pump prices Of PMS From Dangote Refinery, Based On September 2024 Pricing” reads: The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in ...

By Ali Elias This is the key insight garnered during a visit, last week, by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, to Nigeria LNG's (NLNG) six-train plant, Train 7 Project site, and the Maritime Centre for Excellence (MCOE) in Finima, Bonny Island, Rivers State, NLNG's Managing Director and Chief Executive Officer, Dr. Philip Mshelbila, emphasized the project's significant impact on Nigeria's economy. He highlighted that the Train 7 Project would not only create jobs and drive sustainable development but also strengthen Nigeria's position in the global energy market. Represented by NLNG’s Deputy Managing Director, Mr. Olakunle Osobu, Dr. Mshelbila praised the NCDMB's unwavering support for the Train 7 Project, de...

R-L: GCEO NNPC Ltd, Mr. Mele Kyari; Director, Deepwater and Production Sharing Contract (PSC) of Chevron Nigeria Limited (CNL), Mrs. Michelle Pflueger and Queen Nwaha Torkwasi of Legal Department, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), display signed documents during a ceremony on conversion of the NNPC/CNL JV assets into PIA terms, held at the NNPC Towers in Abuja, on Monday. By Ali Elias NNPC Ltd and Chevron Nigeria Ltd (CNL) have successfully transitioned five Joint Venture (JV) assets to the new Petroleum Industry Act (PIA) terms, marking a significant milestone in Nigeria's oil and gas sector. This conversion, which aligns with the PIA 2021 provisions, shifts the assets from the Petroleum Profit Tax (PPT) regime to the more investor-friendly PIA framework. At...

By Ali Elias The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to allegations made by the Muslim Rights Concern (MURIC) concerning its actions towards Dangote Refinery Limited (DRL). MURIC claimed that recent adjustments to the pump price of Premium Motor Spirit (PMS) by NNPC Ltd are undermining Dangote Refinery's ability to offer competitive prices and that NNPC Ltd has positioned itself as the exclusive offtaker of all products from the refinery. In a bid to clarify the situation, NNPC Ltd has issued a statement to address these concerns and provide accurate information on the matter. According to the Press release, “The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limi...

(L-R) Engr. Felix Ogbe & Gov. Alex Otti By PR The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Friday, September 6, 2024 met with Dr Alex Otti, Governor of Abia State, at the Government House, Umuahia. The meeting was on the request of the Abia State government for the participation of the NCDMB in the proposed Abia Innovation and Industrial Park (AIIP), Owaza, Abia State The AIIP, which covers 1995 hectares of land, is made of industrial, commercial, and residential areas. The project is expected to cost over USD 1.3 billion with the potential to create thousands of jobs. The AIIP also hopes to harness the abundant oil and gas reserves within Ukwa for the development of the park and communities...

CORAN Chairman, Mr Momoh Oyarekhua THE Crude Oil Refinery-owners Association of Nigeria (CORAN) says the commencement of production of Premium Motor Spirit (PMS) by Dangote Refinery has reinforced Nigeria’s position on the global energy stage. Chairman of the association, Mr Momoh Oyarekhua, said this on Thursday in a statement while congratulating Mr Aliko Dangote and his team at the Dangote Refinery, on the remarkable achievement of commencing the production of PMS. Oyarekhua said that the refinery’s commencement had put the country on the path of self-sufficiency in petroleum products refining and development of associated industries. He said that the significant milestone was not only a testament to the dedication and hard work of Dangote Refinery but also a reflection ...

ES NCDMB, Engr. Felix Ogbe, holds a bouquet of flower By PR The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe has commended the significant Nigerian Content strides achieved in the Nigeria LNG Limited (NLNG) Train 7 Project.  Speaking on Friday during a visit to the NLNG six-train plant, Train 7 Project construction site, and the NLNG Shipping and Marine Services Limited (NSML) training centre, Maritime Centre for Excellence (MCOE) in Finima, Bonny Island, Rivers State, Engr. Ogbe emphasised the need for increased collaboration and advocacy for Nigerian Content in the oil and gas industry. Engr. Ogbe was received by Mr. Olakunle Osobu, Deputy Managing Director; Engr. N...

Waltersmith Refinery By Ali Elias The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced yesterday that it has granted Waltersmith in Ibigwe, Imo State, an additional 5,000 barrels per day (bpd) license as part of the refinery's Phase 2 development. This modular refinery, which initially had a 5,000 bpd capacity under Phase 1, is being expanded to 10,000 bpd, with plans to further increase capacity to 40,000 bpd in the near future. "Today, the Authority granted a License to Construct (LTC) of Phase 2 to Waltersmith Refining and Petrochemical Company Limited," said Farouk Ahmed, the Authority's Chief Executive, adding that the refinery is expected to be commissioned by the third quarter of 2025, with plans to move forward to Phase 3 immediately afte...