Energy
Marketers Attribute Gas Price Hike to Supply Constraints
The recent rise in Liquefied Petroleum Gas (LPG) prices is said to be driven by supply constraints and global market pressures.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) made the assertion in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos.
According to NALPGAM President, Edu Inyang, the increase could be traced to higher depot prices caused by reduced local supply and rising international benchmarks.
He revealed that lower volumes from the Dangote Refinery had impacted domestic supply, making product access more difficult for marketers.
“Obtaining the product has become increasingly difficult, with allocations no longer as frequent as before,” he said.
He noted that some off-takers are unable to secure supplies for extended periods, while those with access are responding to prevailing demand conditions.
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He added that supplies from the Nigeria LNG Ltd. were also coming at higher costs, further pushing up depot prices nationwide.
Inyang linked the trend to developments in the global energy market, noting that international price movements continued to influence domestic pricing.
“Nigeria is not insulated from global energy shocks. Developments in the international market inevitably affect local LPG prices,” he said.
He said reliance on imported inputs and foreign exchange dynamics also contributed to rising costs.
The NALPGAM president noted that depot operators factor in landing and operational costs, which are reflected in retail prices.
“Private depot operators cannot sell below their landing and operational costs, and this ultimately impacts the final price to consumers,” he said.
He, however, expressed optimism that increased investment in gas infrastructure would improve supply.
“We have experienced similar cycles before. With the right investments, supply will improve and prices will stabilise,” he said.
Inyang called for the development of more gas processing plants and greater private sector participation to boost domestic production.
He added that improved output from existing and upcoming gas projects would help stabilise the market and moderate prices.
Energy
UNDC Assures on Readiness to Protect Oil, Gas Pipelines
The Niger Delta Youths are primed to assume national responsibilities in critical areas of the economy by protecting vital oil and gas assets in the region.
The United Niger Delta Congress (UNDC) gave the assurance at a media briefing in Abuja, over the weekend, adding that the youths of Niger Delta were ready to work with the federal government in this regard.
The group maintained that youths in the region have shown that such responsibilities, including the security of pipelines, can be entrusted to them.
Speaking at the news conference, Niger Delta Youth activist, Mallam Julius Obi, said the Niger Delta is safer while the nation’s crude is flowing based on the fact that youths in the region are doing the job.
He said that being a youth should not be a disqualification from strategic national assignments but when matched with preparation and character, a national asset.
“We are calling on the federal government to note that Nigeria is full of young men and women who are prepared, disciplined and ready to carry out national responsibilities.
“We urge the federal government to keep opening the doors of strategic national service to young Nigerians who have earned trust the only way it can be earned, by delivery,” Obi said.
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The group commended President Bola Tinubu for sustaining the security reforms in the oil and gas industry and the the National Security Adviser (NSA), Mallam Nuhu Ribadu, for coordinating the protection of the nation’s pipelines, and the management of NNPCL for providing the enabling environment.
Energy
Ambakederimo Questions NNPC Over Crude Oil Sales, Upfront Payments
Joseph Ambakederimo, convener of the South-South Reawakening Group, has questioned the accountability of Nigeria’s crude oil forward sales, demanding clarification on the volume of crude lifted, outstanding balances and the use of upfront payments.
Speaking during an interview on Arise TV on Sunday, Ambakederimo expressed concern over the monitoring of crude oil transactions, questioning who was responsible for tracking deliveries and providing feedback on the arrangements.
“We don’t even know who is monitoring and giving us the feedback of the barrels of crude that have been lifted on forward sales basis,” he said.
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He challenged the Nigerian National Petroleum Company Limited (NNPC) to provide details of the transactions, including the quantity of crude already lifted, the outstanding balance and whether the agreed deliveries had been completed.
“Today, can we get this from NNPC? How much have they lifted? What is the balance remaining? Have they been completed?” he asked.
Ambakederimo also questioned how the money collected upfront under the arrangements had been spent, demanding an explanation of its use.
“That money that was collected upfront, what was the use of the money? Can you justify it?” he asked.
He argued that Nigeria should make better use of its natural resources to accelerate infrastructure development and improve living conditions.
Citing land reclamation projects in the United Arab Emirates, Ambakederimo said Nigeria could explore similar opportunities to create additional land for residential and other developments.
He recalled seeing a signpost while travelling from Dubai to Abu Dhabi describing a project to reclaim land from the sea, using the example to highlight the development possibilities he believes Nigeria could explore.
The South-South Reawakening Group convener also argued that Nigeria could reclaim land in suitable areas, provided environmental concerns were properly managed.
He called for the country to translate its natural resource wealth into infrastructure and improved living conditions, stressing the need for greater accountability in crude oil transactions.
Energy
IEA Puts UAE’s Oil Output at 5.3mbpd for September
Oil output from the United Arab Emirates (UAE) rose to record levels in September, underscoring its resilience even amidst the Middle East crises and liberation from OPEC+ limits.
The International Energy Agency (IEA) issued the data in its monthly report, adding that Abu Dhabi raised total oil production, including condensates, by 400,000 bpd to 5.3 MMbpd.
According to the IEA, the UAE bolstered crude output to more than 4.4 MMbpd, nearing its maximum capacity, which surpasses the previous highs for total oil in August, and crude oil in June.
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The UAE has been one of the most successful among regional producers in restoring flows through the Strait of Hormuz, by drawing on a fleet of tankers to discreetly shuttle cargoes through the chokepoint and then transfer them onto other vessels. In addition, the country’s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) as of May has freed it from the group’s output caps, a source of frustration for years.
Its gains contributed to a wider recovery in flows from Gulf producers, which reached more than 75% of pre-war levels in September, led by Saudi Arabia, according to the Paris-based IEA.
Still, it’s unclear how far the regional rebound has withstood a new wave of Iranian attacks on tankers transiting Hormuz, and escalating hostilities carried out by the Houthi rebel faction in Yemen.
The UAE depleted its observable above-ground inventories at a record pace of more than 270,000 bpd in September, drawing them to an all-time low, according to the IEA.





