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Oando opens ultra-modern petrol station in Lagos

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Oando opens ultra-modern petrol station in Lagos

LAGOS-OANDO Marketing Limited, a subsidiary of Oando PLC has commissioned a new retail station at KM3, Orile, on the Lagos – Badagry expressway. The quality of the upgraded service station is consistent with the company’s commitment to lead in the area of fuel retailing in Nigeria, especially as they already lead the pack in most other areas of the energy value chain.

With a current fuel distribution capacity of over 2bn liters annually, Oando has retained its leading market share for fuel retailing and is poised to continue to expand leveraging its strong brand affinity, efficient distribution capacity, and entrepreneurial heritage.

Oando KM3, Orile Lagos as the station is called boasts of modern, contemporary, and eye-pleasing design with detailing infused to specifically meet the needs of customers and travelers on the Lagos-Badagry expressway axis. The station upgrade was timely executed to complement the new 10-lane super highway which is billed for completion in less than 24 months, specifically, the station is situated very close to one of the passenger train stations on the new highway.

Equipped to service over 2000 cars per day, the station’s arsenal of silent, ultra-fast premium fuel dispensing units has been specially configured to deliver accurate quantities at all times to ensure consumers receive value for money at every visit to the retail outlet. In addition to liquid fuels, Oando KM3 Orile will also retail Oando’s full basket of petroleum products including car maintenance services via its advanced auto-care center, which was also commissioned for immediate use by customers. Altogether KM3 Orile will deliver the most premium service to customers in the Ijora, Orile & Iganmu axis.

Speaking at the launch, the CEO of Oando Marketing Limited, Mr. Abayomi Awobokun expressed satisfaction with the quality of the station upgrade, its visual contribution to the neighborhood, the environmental considerations in its design, and most important the value it would bring to customers and travelers on the Lagos-Badagry super highway when it’s completed. In his remarks, he acknowledged the hospitality of the host community, led by the Ojora of Ijora, HRM Oba Abdulfatai Oyeyinka Aremu Aromire, ably represented at the station launch by a distinguished bench of high chiefs and nobles. Furthermore, he commented on the positive outcomes from the efforts of the State government as the entire area was already showing signs of increased commercial activities as a result of the huge investments in infrastructure in the area.

Speaking on the downstream Oil & Gas sector, Awobokun noted that “despite industry challenges, Oando Marketing Ltd is still able to compete favorably amongst its peers evidenced not only by its market share and current station footprint but also by its ability to continue upgrading and growing its network right across the country”.

Oando Marketing is also leading in the area of the development of blue collar workers, having so far trained over 1000 auto-mechanics via its Oleum Academy which commenced in 2014 to boost the competencies of mechanics all over Nigeria. In addition to class room and on-the-job training, the company also provides car diagnostic tools to graduating mechanics to boost their ability not only to ply their trade but to do so in a sustainable manner.

Similarly, Oando Marketing Ltd is the leading retailer of LPG in Nigeria, successfully distributing the product in every state of the country. In addition to the sales of LPG, it launched an LPG awareness campaign for teenagers” called “Teens Can Cook” in 2014, to educate and encourage the use of LPG for domestic use in schools, hospitals, restaurants and homes across the country. “The Teens Can Cook” initiative has successfully carried out cooking campaigns involving over 70 schools and at 10 NYSC camps across the country including Rivers & Kogi States. Oando intends to switch 5m homes to LPG for domestic use over a 5 year period from dirty fuels like coal and firewood.

The company recently announced the recapitalization of its downstream business through a joint venture arrangement consisting of renowned international firms with experience and proven track record in raising the standards in technology and the Oil and gas downstream sectors. Oando Marketing boasts of businesses and operations in key West African countries including Ghana and Togo.

Led by energetic and dynamic leadership and guided by international processes in operational standards and service offerings, Oando Marketing is poised to enhance its leadership as Nigeria’s premier downstream company and ultimately revolutionize the way the business is run on the African continent.

 

 

 

 

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Energy

Nigeria’s Q1 Gas Production Increases to 687bscf, Flaring Drops 8%

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Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that Nigeria’s gas production rose by about 3 percent in the first quarter of 2026, while gas flaring declined by over 8 percent year-on-year.

An analysis of the commission’s gas production status reports for the first three months of 2025 and 2026 revealed that total gas output increased from 667.27 Billion Standard Cubic Feet (BSCF) in Q1 2025 to 687.09 billion scf in Q1 2026.

The increase of approximately 19.81 billion standard cubic feet represented a year-on-year growth of about 2.97 percent, highlighting continued slow but steady expansion in Nigeria’s gas sector amid the federal government’s push to deepen gas utilisation and monetisation.

In addition, the NUPRC figures had it that January 2026 gas production stood at 233.96 billion scf, compared to 236.32 billion scf in January 2025.

However, production rebounded strongly in the subsequent months, with February 2026 output rising to 212.62 billion scf from 199.68 billion scf in February 2025.

In the same vein, March 2026 production climbed to 240.51 billion scf, compared to 231.28 billion scf recorded in March 2025, making it the highest monthly production level in the period under review.

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At the same time, the data showed marked improvement in gas flare management. Total gas flared in Q1 2025 stood at 50.95 billion scf, compared to 46.83 billion scf in Q1 2026. The reduction of about 4.12 billion scf translated to a decline of roughly 8.1 percent year-on-year.

Similarly, average flare intensity improved significantly during the period. The average gas flare rate dropped from about 7.65 percent in Q1 2025 to approximately 6.81 percent in Q1 2026, indicating that a larger proportion of produced gas was captured for productive use rather than burnt off.

In the same vein, monthly flare rates for Q1 2025 were 7.92 percent in January, 7.94 per cent in February and 7.08 percent in March. For Q1 2026, the flare rates declined to 7.34 percent in January, 6.62 percent in February and 6.48 percent in March.

The data also revealed a significant shift in the structure of Nigeria’s gas production. Associated gas production, which is gas produced alongside crude oil, declined during the review period.

Total associated gas output fell from 370.28 billion standard cubic feet in Q1 2025 to 332.82 billion standard cubic feet in Q1 2026. In contrast, non-associated gas production recorded substantial growth.

Non-associated gas output increased from 296.99 billion standard cubic feet in Q1 2025 to 354.17 billion standard cubic feet in Q1 2026, suggesting increased contribution from standalone gas projects and dedicated gas developments, rather than reliance on oil-linked gas production.

Also, export gas sales recorded one of the strongest improvements during the quarter. The NUPRC data showed that export gas sales rose from 223.99 billion standard cubic feet in Q1 2025 to 292.87 billion standard cubic feet in Q1 2026.

This represented an increase of about 68.89 billion standard cubic feet or approximately 30.75 percent year-on-year. Findings show that the increase was likely driven by stronger Liquefied Natural Gas (LNG) export performance and improved international demand for Nigerian gas supplies.

However, domestic gas sales weakened slightly during the same period. Domestic sales declined from 186.98 billion standard cubic feet in Q1 2025 to 171.15 billion standard cubic feet in Q1 2026, representing a drop of roughly 8.5 percent.

This raised concerns regarding the adequacy of gas supply to Nigeria’s domestic market, especially for power generation and industrial use. Despite the decline in domestic sales, gas utilisation efficiency improved marginally due to lower flare volumes.

The improved flare metrics suggested that operators were more efficient in capturing and commercialising produced gas. According to the data, total utilised gas stood at 639.91 billion scf in Q1 2025 and 639.68 billion scf in Q1 2026, indicating relatively stable utilisation volumes despite higher production.

With proven gas reserves estimated at about 215.19 trillion cubic feet (TCF), Nigeria has in recent years increasingly prioritised natural gas as a transition fuel capable of supporting domestic energy needs, industrial growth, petrochemical expansion and export earnings.

The federal government has also intensified efforts to reduce routine gas flaring through stricter regulatory enforcement and commercialisation initiatives targeted at flare gas recovery, especially through the Nigerian Gas Flare Commercialisation Programme (NGFCP).

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Energy

Renewed US-Iran Tensions Drag Oil Price Northwards

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After the United States carried out what it described as defensive strikes in southern Iran, which put fresh question marks over the fragile ceasefire and ongoing peace talks between Washington and Tehran, oil prices spiralled on Tuesday.

The world is taken aback because the strikes came in the midst of hopes that both countries were nearing an agreement to end the three-month war and reopen the Strait of Hormuz for the free movement of oil shipments.

Consequently, from about $97 per barrel on Monday, global benchmark Brent crude futures rose by roughly 3.5 percent on Tuesday to around $100 per barrel.

According to reports, US forces struck missile-launch sites and other targets in southern Iran on Monday, even as the Donald Trump administration signalled that a peace agreement between the two sides could be close.

In a statement, the US Central Command said the attacks were defensive in nature. “US forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces. Targets included missile launch sites and Iranian boats attempting to emplace mines,” CENTCOM spokesman Capt. Tim Hawkins said.

Reacting, Iran accused the United States of violating the ceasefire with the strikes. Iran’s Foreign Ministry said the attacks in the southern Hormozgan province, where Iranian media reported explosions early on Tuesday, amounted to a “gross violation” of the fragile ceasefire that has been in place for nearly seven weeks, according to Reuters.

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Both sides had earlier indicated progress on a memorandum of understanding that could halt the war and restore shipping activities through the Strait of Hormuz, while giving negotiators 60 days to address more contentious issues, including Iran’s nuclear programme.

Reports also indicated that Iranian negotiators had pushed for the proposed agreement to include the release of billions of dollars in frozen assets during talks held in Qatar.

The war, which began with US and Israeli strikes on Iran on February 28, has triggered a major oil supply shock, increasing the costs of fuel, fertiliser, and food globally. Iran had responded to the attacks by launching drones and missiles at Gulf states hosting US military bases.

Traffic through the Strait of Hormuz, which accounts for about one-fifth of global oil and liquefied natural gas trade, has remained significantly below normal levels since the conflict began.

Although diplomatic efforts are continuing, there are growing fears that the latest US strikes could further escalate tensions in the Middle East and disrupt global energy supplies.

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Energy

At 92% Completion, NLNG Train 7 Nears Pre-commissioning Phase

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The seventh gas liquefaction train of the Nigeria Liquefied Natural Gas (NLNG) Limited is on the verge of completion, having reached 92 percent of project stages.

The plant which aligns with existing trains at the company’s gas processing complex in Bonny Island, Rivers State, will propel Nigeria’s LNG production capacity with additional 8.0 million tons per annum (mtpa) from current 22 mtpa to 30 mpta upon completion.

Managing Director and Chief Executive Officer, NLNG, Adeleye Falade, made the revelation at a forum hosted by the Nigerian Content Development and Monitoring Board (NCDMB) in Lagos.

According to him, the $7.0 billion project driven by Saipem, Chiyoda, Daewoo continues to enjoy broad support from the presidency and industry regulators.

In a presentation delivered on his behalf at the event, Falade stated that the project has so far consumed a significant 120 million man hours out of the target 200 million man hours of mostly indigenous labour.

He also declared that the company has enhanced all safety measures on the construction site after recording two lost time on injury (LTI) incidents. He assured that the project contractors are prioritizing workplace safety as the project drives to pre-commissioning stages.

Mr Falade, whose presentation was delivered by Train 7 Project Manager, Ali Uwais, also noted that the Train 7 project has helped galvanize local investment in steel fabrication and galvanizing capabilities, pointing at the 4000 tons of steel already deployed in the project.

He also pointed to the spur effect in the domestic cable manufacturing industry, stating that all cables used in the project are manufactured in Nigeria. He, however, added that additional interventions are required to close quality gaps in the local manufacturing industry.

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In noting the urgent need for in-country standard accountabilities, Mr Falade challenged agencies and regulators in the manufacturing industry to rise to the plate of ensuring international competitiveness on product quality.’

In counting some of the interventions driven by the company to close capacity and capability gaps in the domestic industry, he noted that the NLNG is relentless in establishing centers of excellence in tertiary institutions in the country with the purpose of addressing human capacity deficits.

The Train 7 project alone, he pointed out, has facilitated the training of 13,000 Nigerians, bolstered community focused participation initiatives, and facilitated rapid infrastructure development in the host Bonny Island.

Mr Falade told the industry audience at the event that the real value of the Train 7 project must transcend site activities to capture capacity, facilities and infrastructure developed for the project.

He called on other players in the industry to contribute to building capacity, standards and quality that compete globally, adding that Train 7 proves that Nigeria can grow and develop to global standards.

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