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CORAN Set 18-Month Deadline To End Fuel Importation

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Nigerian based refineries have set an 18-month period within which they will end importation of refined petroleum products into the country, only if the Federal Government would key into their plans.

The Crude Oil Refiners Association of Nigeria (CORAN), noted that there were other refineries at different stages of completion to join the 650,000-capacity Dangote Petroleum Refinery and Petrochemical.

The CORAN’s position, The PUNCH reports, was made public by its Publicity Secretary, Eche Idoko, that the Dangote Refinery and others in the country can satisfy the fuel needs of the nation.

This interesting perspective hit the public while the news waves were being ruled by the Chief Executive of the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), Farouk Ahmed, shared the perspective that Nigeria would not stop fuel importation, so as to checkmate the Dangote Refinery’s monopoly to ensure Nigeria’s energy security.

ALSO READ: Shareholders Condemn Demarketing Of Dangote Refinery

The CORAN’ Publicity Secretary argued that there was no way the government would tackle rising inflation if it did not address the high cost of fuel, especially by working with the local refiners.

In his words, “You can’t tackle inflation if you don’t address the pump price of petroleum products. You cannot say you have a plan to step down inflation and you are not involving the key sectors like the refineries; you have to involve us, let’s work together.

“And CORAN is saying that, in 18 months, if the Nigerian government will work with our programmes and plans, in 18 months, we can stop the importation of petroleum products completely.

“There are refineries in different stages of completion. In 18 months, we can produce what Nigeria will consume.”

According to Idoko, Nigeria has enough crude oil to feed Dangote and other refineries.

He pointed out that crude theft has been the major challenge to the upstream oil sector.

“We have the crude oil to feed these refineries and more fields are being licensed by the day. So, there will be crude to feed the refineries. Our production figure is dropping because of the crude that is being stolen daily.

“When we have local refineries, crude theft will be reduced. People steal crude through the pipelines and most of the refineries are located close to some of these fields. What this does is that the crude oil producers will no longer need to pump their crude through the pipelines to the terminal for export.

“The local refineries will just truck from the fields or get a short pipeline or barge from their fields to these places. We are losing heavily because unscrupulous elements are stealing crude from the long pipelines,” Idoko stated.

In addition, he pointed out that the international oil companies (IOCs) were supposed to sell crude oil to local refineries at a price lower than the international price.

Idoko urged the Federal Government to ensure that crude oil is sold in naira and not dollars, and maintained that this would reduce the cost of fuel production and the pressure on the local currency.

In his view, ending the importation of fuel would strengthen the naira against the dollar, and wants to see the IOCs start selling fuel directly to local refiners instead of referring them to their trading agents in Europe.

Recall that Ahmed had cautioned that Nigeria could not rely heavily on the Dangote refinery for its fuel supply.

According to him, the refinery had requested the regulator to stop giving import licenses to other marketers to be the only fuel supplier in Nigeria.

“We cannot rely heavily on one refinery to feed the nation, because Dangote is requesting that we should suspend or stop importation of all petroleum products, especially AGO and direct all marketers to the refinery, that is not good for the nation in terms of energy security. And that is not good for the market, because of monopoly,” Ahmed stressed.

However, the President of Dangote Group, Aliko Dangote, denied the allegation, wondering how he could be a monopoly when the Nigerian National Petroleum Company Limited (NNPC Ltd) was renovating government-owned refineries with $4bn.

Biztellers reports that several prominent figures and associations including the President of the African Development Bank Group (AfDB), Akinwumi Adesina; billionaire businessman, Femi Otedola; federal lawmakers; former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar; former Anambra State governor and 2023 Labour Party presidential candidate, Peter Obi.

Others speaking up for Dangote include the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); the Manufacturers Association of Nigeria (MAN), have all voiced their support for the Dangote Refinery, and the Pragmatic Shareholders Association of Nigeria (PSAN).

On his part, the President of Dangote Group, Alh Aliko Dangote had decried the alleged refusal of the IOCs to supply crude to his refinery, in addition to regulatory highhandedness.

According to Dangote, his refinery would begin the supply of petrol between August 10 and 12.

It was gathered that the refinery might resort to exporting its Premium Motor Spirit (PMS) also known as petrol unless the regulators and operators of the Nigerian market show required cooperation.

Energy

Asharami Synergy Unveils Fuelling Solutions In Omagwa

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In line with its commitment to driving access to quality petroleum products, Asharami Synergy Limited, a leading Sahara Group downstream company, has said the public can now access exceptional fuelling solutions at its newly commissioned retail station in Omagwa, Rivers State.

Situated strategically along the Airport Road in Omagwa, the station, which features a storage capacity of 45,000 litres each for Automotive Gas Oil (AGO, also known as diesel) and Premium Motor Spirit (PMS, also known as petrol) is equipped with two pumps and four discharge nozzles for PMS and AGO.

The facility also has ample space for sundry services in a bid to ensure consumers get more “miles and smiles” as well as the energy to “go further” with Asharami’s world-class products.

“The Asharami Omagwa Retail Station is fully operational, offering a range of premium products and services. It’s a one-stop shop that also gives our esteemed customers eat-in and take-out restaurant services, shopping, as well as the Asha lubricants and Asha Service experience which will ensure premium care for all classes of automobiles and engines,” said Oladimeji Williams, Head, Government Relations and Business Development at Asharami Synergy.

ALSO READ: NNPCL Launches Utapate Crude Oil Blend, Eyes Production Expansion In 2025

At the Commissioning, Willaims said the new station represents an important step in Asharami Synergy’s expansion plan aimed at reaching and serving more communities responsibly. “This station is strategically positioned close to the airport, serving as the gateway for powering socio-economic development in the community and those close to it, while enabling Asharami Synergy integrate all aspects of its downstream business towards ensuring efficiency and value for our customers,” he stated.

Williams commended the Federal Airport Authority of Nigeria (FAAN) and the Omagwa community leaders for their support and collaboration throughout the project’s duration, describing it as a “seamless and productive process that highlights Asharami’s corporate stewardship and social impact” in the community.

Similarly, Ifesinachi Ezike, Regional General Manager (South South), FAAN, emphasized the broader significance of the new station, stating, “This occasion marks a significant milestone not just for Asharami Synergy but for the airport and the entire community. It marks not just an opening of a new facility but the beginning of a renewed commitment to enhancing the travel experience of all our passengers and stakeholders”.

In a move that underscores its commitment to sustainability and community development, Asharami Synergy also commissioned a solar-powered borehole during the launch. The borehole is set to improve access to clean and reliable water for residents, marking a tangible contribution to the local community.

“At Sahara, we are always making a difference—not just through our business operations; we are unwavering in our commitment to driving sustainable development and building partnerships that enhance the well-being of our host communities,” Williams added.

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Energy

Awards Galore For Shell, Staff At NAPE 2024 Conference

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The Shell companies in Nigeria and staff won awards in recognition of their robust participation at the 42nd Annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE), held in Lagos.

At the closing dinner of the event, the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), Ronald Adams pledged sustained efforts by the company to address “the Nigerian energy trilemma by powering progress towards energy security in a sustainable manner”.

On the awards, the Shell was declared Best Overall Exhibitor and Best Exhibiting Energy company (International) just as Geophysicist Somime Oguntola took home the Award of Excellence for Oral Paper (second place).

The icing on the cake was a Shell staff, Johnbosco Uche, being installed as the new President of the NAPE.

It was gathered that the Shell companies in Nigeria have supported NAPE since its founding in 1975, using the skills and expertise of the large pool of energy professionals in its employment to improve its activities especially educational and mentoring programmes.

In addition to being a major sponsor of the 2024 conference, Shell mounted a high-profile exhibition, featuring among other things, career counselling, engagements on Nigerian Content and Contractor development and panel sessions on Women in Industry and Sustainability Energy Challenge.

A highlight was the Shell medical stand which attended to more than more than 500 conference participants and members of the public over the four days of the annual event. The doctors and nurses offered a wide range of services including laboratory tests, deworming, medical consultation as well as ophthalmology checks and distribution of nearly 300 eyeglasses.

Adams referred to the operations of SNEPCo as an example of Shell’s contribution to energy security in Nigeria. “As a result of sustained production from Bonga, we have provided funds to finance development, created a new generation of Nigerian Deepwater professionals, empowered indigenous contractors and service providers, and implemented social investments that have touched lives in the six geo-political zones of the country,” he said.

Adams added, “SNEPCo and indeed Shell are in Nigeria for the long haul. Our commitment is reflected in both our current and growth plans, all of which are grounded in principles of safety, affordability, and competitive performance.”

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Energy

Accugas Denies Culpability In Akwa Ibom’s Power Outage

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Owing to the persistent power outage, which has crippled economic and social life in most parts of Akwa Ibom State and environs, Accugas Limited has washed its hands off the ugly situation.

This was contained in a statement under the signature of its Communications Manager, Okwudili Onyia, in which the company traced the anomaly to a “fault in the 132-KV Aba-Itu transmission line”.

To ameliorate the situation, the company maintained that “It is imperative that the restoration of the Aba-Itu line is completed as soon as possible.”

In addition, the company pledged thus, “Accugas will continue to partner with, and support, the government of Akwa Ibom State towards achieving the government’s agenda for economic development and prosperity of the state.”

ALSO READ: NNPC Ltd To Supply 100mmscf/d Gas To Dangote Refinery

The statement reads, “Accugas Limited, a subsidiary of Savannah Energy, wishes to strongly deny the misinformation concerning its alleged involvement in the current power outage in Akwa Ibom State.

“The power cut in Akwa Ibom State is entirely due to the reported fault in the 132-KV Aba-Itu transmission line, which, unfortunately, is preventing power being transmitted from the National Grid into the State. It is imperative that the restoration of the Aba-Itu line is completed as soon as possible.

“Ibom Power Company (“IPC”) is one of 23 thermal power generation companies which channel power to the National Grid, which in turn disseminates all accumulated power to each State of the Federation through the electricity distribution companies (“Discos”). Indeed, Accugas supplies gas to enable c. 20% of Nigeria’s thermal generation capacity and, as such, is a critical enabler of the Nigerian economy.

“Within Akwa Ibom State, Accugas has been the sole supplier of gas to IPC since 2014 and, together with other Savannah subsidiaries, has invested over US$1.5 billion in gas development within the state. Furthermore, Savannah has recently invested c. US$45 million in a gas compression project at Accugas’ Uquo central processing facility at Esit Eket. Accugas’ commitments also extend to several social investment projects in the state. All the foregoing investments and projects, including other imminent investments Accugas intends to make in the State, demonstrate the Company’s long-term commitment to Akwa Ibom State and Nigeria.

“Accugas will continue to partner with, and support, the government of Akwa Ibom State towards achieving the government’s agenda for economic development and prosperity of the state.”

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