Energy
Global Energy Transition, An Opportunity for Nigerian Oil & Gas Industry – Wabote
Lucky MOMOH
ABUJA- THE ongoing disruptions in the international energy industry present a unique opportunity for the Nigerian oil and gas industry to attract investments and serve as one of the leading hubs to meet global energy needs.
The Executive Secretary of the Nigeria Content Development and Monitoring Board, (NCDMB) Engr. Simbi Kesiye Wabote stated this recently in a lecture he delivered at the Society of Petroleum Engineers – Oloibiri Lecture Series and Energy Forum (SPE – OLEF) 2022 held in Abuja.
He spoke on the theme, “Global Energy Transition: Implications on Future Investments in the Nigerian Oil and Gas Industry,” and maintained that the clamour by developed countries to reduce carbon emissions through cutting the utilization of fossil fuels is because those nations have run out of hydrocarbon reserves.
The Executive Secretary outlined his perspectives on global energy transition, its implications on global energy security and investments, and the opportunities for the oil and gas industry in Nigeria, pointing out that the outcome of energy transitions has always been the redistribution of the constituents in the energy mix rather than the outright swap of one form of energy for another.
He said the rush to move the world away from fossil fuels has resulted in first world countries shifting funding away from the development of hydrocarbons towards renewable energy, and energy shortage, causing a decline in the supply of hydrocarbons due to lack of investments, because the pace of the shift to renewable energies is unable to meet world energy demand.
Bearing in mind the technological capability and natural endowments as key drivers to the energy mix, the Nigerian Content Chieftain observed that divestments have resulted in the emergence of indigenous companies playing major roles in exploration and production activities such that companies like Aiteo, First E&P, Eroton and others have acquired assets and are now responsible for the production of about fifteen percent of the nation’s oil and more than sixty percent of domestic gas.
He decried the divestment of the IOCs and their reluctance to make further investment in oil and gas which has resulted in the repatriation of capital out of Nigeria. He lamented that this has stifled the nation’s economy of the much-needed foreign exchange and funds used as loans to acquire oil and gas assets instead of developing new production assets. He also hinted that energy shortage has provided a huge opportunity for the Nigerian oil and gas industry by diversifying oil and gas energy hubs even as it works on adding renewables to the global energy mix to ensure energy security.
Wabote canvassed for a balance between the drive for renewables and new investments in fossil fuels, warning that a misalignment in the transition strategy will result in supply and demand disruptions as witnessed in the current situation in Europe.
He further suggested that as the world continues to expand the options of sources of energy available for use, it should be open to welcome new additions without discarding existing ones. He however, bemoaned the demonizing or de-marketing of other energy sources and setting unrealistic deadlines for countries to abandon fossil fuels. He expressed hope that nations will jealously guard their local sources of energy to ensure it remains in their energy mix for the benefit of its people.
Energy
Asharami Synergy Unveils Fuelling Solutions In Omagwa
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.
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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.
Energy
Awards Galore For Shell, Staff At NAPE 2024 Conference
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.”
Energy
Accugas Denies Culpability In Akwa Ibom’s Power Outage
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.”
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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.”