Energy
Minister Commends Savannah’s Contribution To Nigeria’s Energy Sector
The Honourable Minister of Power, Adebayo Adelabu, has commended Savannah Energy, for its investment in Nigeria’s energy sector, as well as its contribution to the growth of the domestic gas market.
The Minister made the commendation during a recent visit to the Uquo Central Processing Facility (“CPF”) in Akwa Ibom State, which is owned by Accugas Limited, a subsidiary of Savannah Energy.
Adelabu described the Uquo gas facility as a huge investment and evidence of Savannah Energy’s confidence in Nigeria’s economy. He appealed to other companies in the gas industry to emulate Accugas so that Nigeria’s power challenges can be addressed.
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The Minister said, “We are calling on other companies to emulate the activities of Accugas so that the unreliable supply of gas that we have will be a thing of the past. They have been tried, they have been tested and they are trusted. One other thing I also noted is their investment in a new gas compressor to boost pressure for gas supplies. It is a significant investment. We really appreciate it, and we will continue to be partners.”
On the company’s social impact projects, Adelabu said, “I want to also thank you for the jobs you have created directly and indirectly, the CSR projects executed and for the safeguarding of the environment. We don’t want you to relent. We want you to do more to continue your expansion plans, so that you can supply more gas.”
According to the Managing Director of Savannah Energy, Nigeria, Pade Durotoye, said that the company supports the Federal Government’s adoption of natural gas as a transition fuel in Nigeria’s net-zero pathway, particularly power generation. This is why Accugas has invested in building a nameplate 200 MMscfpd processing facility, supported by a ~260km pipeline network solely for the domestic market.
Durotoye said, “All our gas is consumed domestically, with 80% being sold to power generation companies, which account for approximately 20% of Nigeria’s thermal generation capacity for the grid. In addition, the gas supplied by Accugas enables about 10% of the country’s cement production.”
He stated that Accugas has invested an additional US$45m in a new compression system at the Uquo facility that will allow the company to continue to provide reliable gas supplies to customers for years to come. The system comprises two parallel trains with a capacity of 160 MMscfpd each and is designed to increase the gas export pressure to a maximum of 81 bar gauge. The project is expected to be completed and operational later this year.
Energy
Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide
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.
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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.”
Energy
FDI: Shell To Invest Billions Of Dollars On Nigeria’s Bonga North Oil Field
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”.
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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.
Energy
Chevron Nigeria Bags ‘Energy Company Of The Year For Environmental Sustainability And CSR
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.
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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.