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AOW 2021: Sahara Group advocates measured transition in Africa’s upstream sector

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AOW 2021: Sahara Group advocates measured transition in Africa’s upstream sector

Precious ADELOLA

LAGOS– SHARA Group, a leading energy conglomerate with operations in Nigeria has announced that its strong delegation will canvass the adoption of an “Africa appropriate” transition agenda in the Africa’s upstream sector at the Africa Oil Week, AOW, in Dubai.

The hint was dropped by the groups Executive Director, Moroti Adedoyin-Adeyinka in a statement issued by the company and made available to Biztellers.com.ng via electronic mail.

Adedoyin-Adeyinka said the event which kicks off on November 8 needs to consider the disparate development level in Africa when discussing how best the continent and its global partners should approach the desirable goal of energy transition. “We need to have realistic goals and milestones that will ultimately enhance energy transition in Africa in a manner that leaves no one behind. Sahara Group as a foremost promoter of access to energy and sustainable environments is delighted to join other African and global stakeholders to help shape a sustainable future for upstream business in Africa, she said.

According to her, a “responsible and cleaner” production and consumption of energy in Africa holds the key to unlocking economic prosperity on the continent. “We are increasingly witnessing a paradigm shift in oil and gas policies and operations in Africa, and this is commendable. How and when Africa achieves energy transition remains a huge talking point for the world at large and we need to keep the conversation going at AOW and other platforms. We envision that desired future at Sahara Group, and we are already aligning our operations, investments and partnerships in this regard,” she added.

Scheduled to speak on “Diversity and Inclusion”, Adedoyin-Adeyinka will be joined by Henry Menkiti, Chief Operating Officer, Asharami Energy (a Sahara Group Upstream Company), Nicolas Mignot, Chief Financial Officer, Sahara Energy Int’l Geneva, Kola Motajo, Vice President, Treasury, Sahara Energy Int’l Geneva, Andrew Laven, Chief Operating Officer, Sahara Energy Resources, Dubai, and Temitope Olagbami, Head, Corporate Finance, Sahara Group.

Menkiti, Mignot and Laven will speak on panels focused on Safeguarding and Strengthening African Upstream Portfolios through Technology & Innovation, setting the green agenda, and evolution of financing. “Bringing energy to life responsibly is a brand promise that propels our operations across Africa, Asia, Europe and the Middle East and we remain committed to using the agency of thought leadership to promote global access to sustainable energy,” Adedoyin-Adeyinka stated.

Now at its 27th year, the AOW is a global platform that facilitates conversations, investments and thought leadership in Africa’s upstream sector, bringing together governments, national and international oil companies, independents, investors, and service providers.

The event will among other issues examine the role of diversity and inclusion within Africa’s energy transition, set the context for Africa’s energy transition, explore where the greatest impact be made within the hydrocarbon industry to address ESG goals and highlight how to promote traditional energy projects to green-minded investors and funds.

Energy

Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide

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MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.

The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.

Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.

ALSO READ: Dangote Slashes PMS Price To N899.50k

It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.

In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM

Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”

In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.

A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.

“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”

A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.

“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.

A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.

According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”

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Energy

FDI: Shell To Invest Billions Of Dollars On Nigeria’s Bonga North Oil Field

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As a direct implication of the Federal Government’s Foreign Direct Investment drive, the Royal Dutch Shell has completed the final investment decision on the deep offshore Bonga North project in Nigeria.

Biztellers reports that the Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest.

Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich, said, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio”.

ALSO READ: OGUNCCIMA Commends Dangote Refinery’s Impact

It was gathered that the Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.

The company is optimistic that the project will sustain oil and gas production at the Bonga facility.

The Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.

In addition, the Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.

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Energy

Chevron Nigeria Bags ‘Energy Company Of The Year For Environmental Sustainability And CSR

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Chevron Nigeria Limited (CNL), has received an award as “Energy company of the year (2024)” for its Environmental Sustainability and Corporate Responsibility accomplishments.

The award presented by the Nigerian News Direct newspaper, on Friday December 6, 2024, and was received by Manager Communications, Chevron Nigeria and Mid-Africa Business Unit, Victor Anyaegbudike, at a colourful event at the Grand Ballroom of the Oriental Hotel, Lagos.

ALSO READ: Stakeholders Hail NCDMB As Local Content Level Hits 56%

The organizers of the award noted that Chevron has implemented the “Protecting People and the Environment” policy, which aims at preventing injuries, illnesses, and environmental incidents. They also referenced that the company has achieved 97% gas flaring reduction in its operations in Nigeria, while implementing waste management and environmental conservation programs.

According to the media organization, Chevron Nigeria has also invested millions of dollars in community development programs, supporting education, health and economic development initiatives that have benefited thousands of people, while ensuring diversity, inclusion, and employee engagement in its business operations.

Receiving the award from the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, Anyaegbudike thanked the organizers for the honour, and reiterated Chevron’s commitment to continue to develop, affordable, reliable and ever-cleaner energy that enables human progress around the world.

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