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2021 Global Oil Demand Growth Stands at 5.7 mb/d – OPEC

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2021 Global Oil Demand Growth Stands at 5.7 mb/d - OPEC

 

 

By Edozie Obasi-Eze

The Organisation of the Petroleum Exporting Countries (OPEC) has revealed that global oil demand growth in 2021 is at 5.7 mb/d.
According to OPEC,

This reflects slower than anticipated demand from China and India in third quarter of 2021 (3Q21), OPEC said on Wednesday, during its 182nd OPEC Video Conference.

OPEC Secretary General, Mohammad Barkindo, noted that global oil demand had been estimated to reach 96.4 mb/d in 2021 with world total demand in 2022 estimated to reach 100.6 mb/d, almost 0.56 mb/d above 2019 levels.
In his words, “Non-OPEC liquids supply is expected to grow by 0.7 mb/d in 2021, to average 63.6 mb/d.

“The main growth drivers of 2021 are Canada, Russia, China, Norway, Brazil and Guyana.

“The forecast for non-OPEC liquids supply growth in 2022 is 3.0 mb/d, to average 66.7 mb/d. Russia and the U.S. contribute increments of 1.0 mb/d and 0.9 mb/d, respectively.

“Turning to stocks, Organisation of Economic Cooperation and Development (OECD) commercial stocks stand at 2,773 mb, which is 174 mb below the 2015-2019 average with crude accounting for 148 mb and products 26 mb of this.”

On days of forward cover, Bakindo maintained that OECD commercial stocks in October stood at 61.6 days, 0.7 days lower than the average of 2015-2019.
Secretary General laid emphasis on the need to consider the market

implications of last week’s announcement of the possible coordinated release of 70 million barrels of oil from the strategic reserves of several consuming countries.

He cautioned that the implications of excess supply in the first half of 2022 (1H2022) ought to be carefully monitored.

On some of the uncertainties clouding the picture, Bakindo highlighted the future of monetary policies, inflationary pressures, possible reintroduction of lockdowns, vaccine uptake rates, vaccine-resistance of the Omicron variant of COVID-19 and supply-chain bottlenecks.

He pointed out that the uncertainties and implications on the global oil demand and supply balance had been carefully considered in a scenario analysis as reflected in the Economic Commission Board (ECB) report.

Sharing an overview of market developments, as discussed at the 136th Meeting of the ECB, the Secretary General recalled that over 55 per cent of the global population had received at least one vaccine against the coronavirus.
Going by official statistics, over 262 million people had been sickened, resulting in over 5.2 million fatalities.

He added that the emergence of the Omicron variant of COVID-19 and the reintroduction of lockdowns in many regions of the world constitute the main public-health related uncertainties.

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NLNG Change YourStory: Backs Digital Storytelling’s New Era

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No fewer than 40 journalists from print, broadcast, and digital media in Lagos participated in this year’s NLNG Change Your Story training workshop held in Lagos between March 11 and 13.

The workshop, themed “Re-calibrate, Create, Connect,” focused on artificial intelligence in journalism, data visualisation, digital tools for real-time reporting, and ways to combat misinformation.

During the 3-day capacity workshop, participants examined the changing landscape of journalism shaped by AI and digital communication. They also explored how new media technologies can support real-time reporting, extend audience reach across borders, and strengthen engagement on digital platforms.

ALSO READ: NGX Group, IFC, CSCS and WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Dr. Sophia Horsfall, General Manager, External Relations and Sustainable Development at Nigeria LNG Limited, charged the participants to apply the knowledge gained from the NLNG Change Your Story Capacity Workshop to improve the quality and credibility of their reporting. Horsfall, who spoke on the last day of it, described the workshop as part of NLNG’s broader effort to strengthen engagement with the media and support professional excellence in journalism. She encouraged participants to use the insights gained to improve the depth and credibility of their work.

“NLNG views this engagement as a strategic partnership. We provide the energy that powers nations and generates revenue for our nation; you provide the information that powers our minds. We have been proud to host you, but our pride will only be justified when we see the ‘New Standard’ in your next feature, your next broadcast, and your next investigative report. As you head back to your various stations, I urge you to take the spirit of this workshop with you,” she said.

The intensive programme combined expert-led discussions with practical sessions. Digital Communication specialist Mr. Dan Mason led sessions on digital storytelling, while media trainer Taiwo Obe facilitated a Journalism Clinic focused on newsroom practice and storytelling skills.

Mason described the NLNG programme as a relevant ingredient to grow the foundation for new digital skills among practitioners, noting that the Nigerian media industry is a vibrant sector with many energetic young people. “For me, it’s a really good place to work. I feel strongly that at each training session, people listened. ..It’s really about people going away with a little bit more confidence to say, I’m going to do this. I can do this. And in a way, that’s all you need.

“But, what you have here is the essential ingredient in developing journalism, which is the ability to make mistakes and then learn from them,” he said. He observed that Nigeria has an incredibly high rate of young people with an interest in news. According to him, research around the world shows that Nigeria stands out at the top, having young people who are interested in news.

“They care. In your use of mobile platforms, you are way ahead. People trust journalism and journalists. And while there may be issues with people or younger generations not wanting to look at the news, you’ve got such a great and strong foundation to build upon. So, I see hope and opportunity in Nigeria, though I also see the problems, because I’m a journalist. And I see fantastic opportunities here,” he added.

The Change Your Story initiative, launched by NLNG in partnership with The Journalism Clinic, is designed to strengthen professional capacity in the media industry. Since its launch in 2014, the programme has trained about 400 journalists from print, broadcast, and digital media across Nigeria.

The workshop, which began on Wednesday, concluded on Friday. At the end of the training, all participants were presented with certificates acknowledging their completion of the programme.

Nigeria LNG Limited (NLNG) has reinforced its commitment to strengthening journalism in Nigeria following the successful completion of the second edition of its #NLNGChangeYourStory workshop for 2026, held in Lagos.

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Sahara Group expands fleet with new 40,000 cbm LPG Carrier

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Modupe Asudo

Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.

The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.

Ghanaian President Mahama and Sahara Executive Directors

Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.

He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.

President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.

According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.

“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.

With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.

Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.

He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”

Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.

The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.

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NCDMB reinforces commitment to inclusive energy growth

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Modupe ASUDO

The Nigerian Content Development and Monitoring Board has reiterated its commitment to advancing gender inclusion and sustainable capacity development in Nigeria’s oil and gas industry, spotlighting a $20m Women in Oil and Gas Intervention Fund.

The Board made this known at the 3rd edition of the Diversity Sector Working Group’s Women in Oil and Gas Conference and Mentorship Programme, held on March 3, 2026, at Eko Hotels and Suites, Lagos.

The conference, organised in collaboration with the Nigerian Content Consultative Forum, was themed ‘Breaking Barriers, Shaping the Future’, with a strong focus on building bridges and empowering women for a sustainable energy future.

Delivering his goodwill message, the Executive Secretary of NCDMB, Engr Felix Omatsola Ogbe, described women’s empowerment as a strategic lever for strengthening Nigeria’s energy ecosystem, particularly at a time the global industry was undergoing profound structural change.

He explained that the sector’s navigation of energy transition, rapid technological innovation and rising sustainability expectations increasingly requires broader perspectives, adaptive leadership and inclusive participation to remain competitive and resilient.

Represented by the General Manager Midstream PCAD, Ms. Lekoma Phimia, the Executive Secretary framed inclusion not as social advocacy but as sound economics, stressing that diversity consistently delivers measurable performance outcomes across industries.

“Inclusive organisations are more innovative, more resilient and more profitable. When women thrive, industries thrive. When women lead, economies grow. When women are empowered, communities prosper,” he stated.

To illustrate this point, the Executive Secretary referenced the leadership impact of Ms. Oritsemeyiwa Eyesan, Executive Chairman of the Nigerian Upstream Petroleum Regulatory Commission, describing her tenure as clear evidence of women’s capacity to drive sector-wide transformation at the highest levels.

According to him, such leadership exemplifies how competence and inclusion are helping to steer the industry through a period of accelerated change.

While acknowledging the progress recorded, Ogbe observed that systemic barriers had continued to limit the full participation of women across segments of the oil and gas value chain, stressing that addressing the constraints requires deliberate, structured and sustained interventions.

At the centre of NCDMB’s empowerment showcase, the Executive Secretary highlighted the Women in Oil and Gas Intervention Fund, a landmark $20m initiative established in partnership with the Nigerian Export-Import Bank to provide affordable financing exclusively to women-owned businesses operating within Nigeria’s oil and gas sector.

He explained that the fund offers single-digit interest rate loans with repayment tenors of up to three years, targeted at eligible companies with approved industry contracts. According to him, the initiative is designed to accelerate local capacity and enable women entrepreneurs to transition from peripheral participation to ownership and leadership across the oil and gas value chain.

Ogbe further disclosed that a complementary intervention, implemented in partnership with the Bank of Industry, extends structured business training and additional access to capital to women-owned enterprises. He noted that many beneficiaries have expanded from small service providers into competitive vendors now supporting major oil and gas operators nationwide, particularly in logistics and marine services, safety equipment supply and environmental management — segments where female entrepreneurs have historically faced limited access to financing.

Beyond financing, the Executive Secretary highlighted NCDMB-supported skills development programmes executed in collaboration with institutions such as the Petroleum Training Institute and accredited industrial training centres in Rivers and Bayelsa states. He cited the training of women in welding and fabrication, noting that many graduates are employed in fabrication yards and contribute directly to major oil and gas projects.

“These women are earning dignified livelihoods, breaking stereotypes and inspiring a new generation,” Ogbe said, emphasising that collaboration remains critical to scaling impact, citing partnerships with financial institutions, development partners, training institutions and industry stakeholders.

He commended the NCCF Diversity Sector Working Group for sustaining advocacy and dialogue on inclusion. “We must move beyond inclusion towards leadership — more women in technical leadership roles, executive positions and industry boards,” he added.

In her remarks, the Chairman of NCCF Diversity Sector Working Group, Dr Alero Onosode, described the conference as a celebration of progress, leadership and possibility, noting that NCDMB’s sponsorship reflects its strong institutional commitment to inclusion and shared prosperity. She observed that convening the conference in March — International Women’s Day month — was symbolic, coming at a time of renewed activity and reform across Nigeria’s oil and gas industry.

“Alongside this momentum, we are seeing the rise of women into visible and influential leadership roles — regulators, CEOs, directors, engineers and policymakers shaping strategy and transforming spaces that were once dominated by a single voice,” Onosode said.

She explained that the conference theme challenged stakeholders to move from representation to impact, urging deliberate collaboration across sectors, generations and perspectives.

“Building bridges means women and men working together, turning diversity into strength and collaboration into results,” she stated, calling on industry leaders to prioritise mentorship, sponsorship and intentional partnerships.

The conference concluded with a renewed call for inclusive capacity development, with NCDMB reaffirming its commitment to empowering women, strengthening Nigerian content and ensuring that Nigeria’s energy future is sustainable, inclusive and economically transformative.

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