Connect with us

Energy

Govt Must Ensure Fair PMS Price Amid Dangote Refinery Launch – Yemi Adeoye

Published

on

As the Dangote Refinery rolls out its first shipment of Premium Motor Spirit (PMS), energy analyst, Yemi Adeoye has called on the Nigerian government to ensure that petrol pricing is fair, considering the current economic challenges facing the citizens.

Speaking on Channels TV, Adeoye emphasised the importance of the government engaging with Aliko Dangote and other key stakeholders to arrive at a price that does not unduly burden Nigerians, given the significant discrepancy between the landing cost and the official pump price.

Meanwhile, Aliko Dangote, the CEO of Dangote Refinery, announced that petrol could be available at filling stations across the country within the next 48 hours, contingent on the Nigerian National Petroleum Corporation’s (NNPC Ltd) decisions.

Dangote also noted that the PMS, which is lighter in colour, differs from the previous version as it is made according to Euro 5 standards.

Euro 5 has a maximum sulphur content limit of 10 ppm, compared to Euro 2, which contains up to 50 times more sulphur (a maximum of 500 ppm). Lower sulphur content results in fewer toxic emissions being released into the air, making the fuel cleaner and more suitable for use.

A check by BIZTELLERS reveals that the PMS from the Dangote refinery is lighter in colour compared to the earlier, darker version.

This statement adds urgency to the government’s discussions as they weigh the options of either subsidising the fuel or allowing it to be sold at market rates, both of which have significant implications for the nation’s economy and the well-being of its citizens.

Energy

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

Published

on

 

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.

Continue Reading

Energy

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

Published

on

 

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.

Continue Reading

Energy

Shell Restates Commitment To Supporting Indigenous Coys At Practical Nigerian Content Forum

Published

on

 

The Shell Companies in Nigeria have restated commitment to supporting Nigerian businesses in the quest to grow local content for the domestic oil and gas industry.

The company made the assertion at the recent Practical Nigerian Content (PNC) forum in Yenagoa, Bayelsa State, and committed to doing this through contract awards and scaling up of expertise.

Biztellers reports that over 700 oil and gas entities participated in the 13th edition of the PNC Forum

The four-day conference with the theme “Deepening the Next Frontier for Nigerian Content Implementation” began today and will see the hosts, Nigerian Content Development and Monitoring Board (NCDMB) and participating companies review progress on the development of Nigerian content pertaining to the implementation of the Nigerian Oil and Gas Industry Development (NOGICD) Act since it was enacted in 2010.

ALSO READ: Chevron Remains Committed To Nigerian Content Development – Swartz

The Shell companies in Nigeria were the forum with a strong message of support for Nigerian companies, having awarded contracts worth $1.98 billion to the businesses in 2023 in continuing effort to develop Nigerian content in the oil and gas industry.

The contracts, awarded by the Shell Petroleum Development Company of Nigeria Limited (SPDC), Shell Nigeria Exploration and Production Company Limited (SNEPCo), and Shell Nigeria Gas (SNG) present a three percent increase from the 2022 performance of $1.92 billion.

Business Opportunity Manager for SNEPCo’s Bonga South-West Aparo Project, Olaposi Fadahunsi, representing SNEPCo Managing Director, Ron Adams, told participants at the opening of the forum that several benefitting companies had taken advantage of the patronage to expand their operations and improve their expertise and financial strength.

“Shell companies execute a large proportion of their activities through contracts with third parties, and Nigeria-registered companies have been key beneficiaries of this policy aimed at powering Nigeria’s progress,” Fadahunsi said. He commended the Nigeria Content Development and Monitoring Board (NCDMB) for ensuring compliance with the Nigerian Content Act.

In addition to contract awards, Shell companies have implemented projects under the Human Capital Development Fund, including the Niger Delta University learning centre and digital library project and the Federal University of Technology Information Technology Hub. Both projects were inaugurated this year, in collaboration with SPDC Joint Venture partners – Nigeria National Petroleum Company Limited (NNPC), TotalEnergies and Nigeria Agip Oil Company Limited (NAOC).

Other projects include the University of Lagos Geosciences Centre of Excellence, Nigeria Diving School and funding of ongoing research at the University of Ibadan to develop a synthetic-based drilling fluid.

The Shell Companies in Nigeria also continue to develop indigenous manpower through scholarship programmes with over 3,772 undergraduate and 109 Niger Delta post graduate scholarships since 2016.

Fadahunsi added: “As we speak, beneficiaries of the 13th edition of the Niger Delta Post Graduate Scholarship awards are pursuing their studies in the United Kingdom. The employability rate of the scheme is high with over 98% of the graduates who won the awards securing employment in the oil and gas industry, academia and Information Technology, among other sectors, within one year of completing their studies. Nigerian content will continue to be an important part of Shell operations.”

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.