Energy
National Honours: Wabote Lauds Sylva for Transforming Oil & Gas industry
By Paul Eso
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has lauded the Minister of State for Petroleum Resources, Chief Timipre Sylva, on the national honour of the Commander of the Order of the Niger (CON) conferred on him by President Muhammadu Buhari on Tuesday.
In a statement he personally signed, the Executive Secretary noted that Sylva who was appointed in 2019 was fully deserving of the honour having worked tirelessly to change the Nigerian oil and gas landscape and recorded several accomplishments, which had improved the economy of the nation.
He listed some of the notable achievements of the Minister to include working with the National Assembly for the passage of the Petroleum Industry Bill (PIB), which was signed into law by President Muhammadu Buhari on August 16, 2021, to become the Petroleum Industry Act (2021); the initiation and launching of the Decade of Gas Initiative in 2020 and the National Gas Expansion Program (NGEP), which is aimed at improving domestic LPG consumption and deepening the use of alternative fuels such as CNG for vehicular use.
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He added that the NGEP promotes the use of cleaner and cheaper fuels and ensures that the impact of subsidy removal from Premium Motor Spirit (PMS) is minimal.
Other achievements of the minister included improving the harmonized data reporting to Organization of the Petroleum Exporting Countries (OPEC) and provision of comprehensive technical support for Nigeria’s representation at OPEC and ensuring that the Federal Government took the Final Investment Decision (FID) that led to the development of the $7bn NLNG Train 7 project and championing Africa’s position for a multi-dimensional approach to energy transition using gas as a transition fuel.
The Minister also championed the removal of fuel subsidy so that the proceeds could be channeled towards national development, championing the rehabilitation of the three refineries in Nigeria: Port Harcourt, Warri and Kaduna to guarantee in-country refining and petroleum products sufficiency in the country and leading the drive for the distribution of Covid-19 palliatives by the oil and gas sector to states and institutions during the Covid lockdown in the country.
Wabote listed other accomplishments of the Minister to include pushing for the resuscitation of the Brass LNG project abandoned over 17 years ago by sourcing for new investors, launching the Nigerian Gas Transportation Network Code (NGTNC) program. The code ensures fair and non-discriminatory open access to the gas transmission network systems in order to promote competitiveness and drive economic growth.
He added that the Minister conceived the Nigerian Gas Flare Commercialization Program (NGFCP) to support Nigeria’s effort to achieve zero routine flaring by taking gas at flare and auctioning same to third parties for commercialization in order to eliminate environmental pollution and worked for the progressive increase in national gas reserve position to the current 206.53 trillion cubic feet (TCF) to support government’s gas revolution and expansion programs and worked to ensure the completion of the NCDMB 17- storey headquarters building in Yenagoa, Bayelsa State.
He also credited the Minister with actively working with NCDMB to ensure the establishment of modular refineries in the Niger Delta, actively working with NCDMB for the establishment of Oil and Gas Industrial parks in some oil producing states in the country, working with NCDMB to establish LPG Distribution centers in 10 Northern States of the country, as part of the Nigeria Gas Expansion program and serving as chairman of the African Petroleum Producers Orgaisation (APPO) and ensuring the revitalization of the organization to better position African oil producing countries.
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.”
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.
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.
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