Connect with us

Energy

NNPC to Rebuild Roads Under Tax Credit Scheme, as GMD Engages PTD, NARTO, FIRS, Others

Published

on

Nigeria is not refining crude locally – NNPC GMD
ABUJA-AS a follow-up to its efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond, the Nigerian National Petroleum Corporation (NNPC) has engaged critical stakeholders so as to find lasting solutions to the road network challenges and other lingering issues.
It would be recalled that following NNPC’s intervention over the weekend, the Petroleum Tanker Drivers (PTD)Branch of the Nigeria Union of Petroleum & Natural Gas Workers (NUPENG) called off a planned strike action, agreeing instead to accept the dialogue option proposed by the Corporation, a development that has sustained smooth supply and distribution of petroleum products nationwide.
On Tuesday, 12/10/21, Group Managing Director of the NNPC, Mallam Mele Kyari, took a decisive step towards actualization of his promise when he hosted a major stakeholders’ meeting at the NNPC Towers.
The meeting was attended by the NNPC, the Petroleum Tanker Drivers (PTD), the National Association of Road Transport Owners (NARTO), Department of Petroleum Resources (DPR), Federal Ministry of Works, Federal Inland Revenue Service (FIRS), Department of State Services (DSS), Federal Road Safety Corps (FRSC) and Nigeria Union of Petroleum & Natural Gas Workers (NUPENG).
During the meeting, the NNPC CEO said stakeholders have agreed on a framework for NNPC’s intervention in critical road rehabilitation through the Federal Government Tax Credit Scheme.
“We are committed to utilising the Federal Government’s Tax Credit Scheme to rebuild some of the affected roads in line with Mr. President’s Executive Order 7. Upon our fruitful deliberations today, the NNPC has pledged to support the PTD and NARTO in carrying out quick intervention fixes on some strategic bad spots identified to enable unhindered movement of trucks for transportation of petroleum products nationwide,” Mallam Kyari stated.
Established under FG’s Executive Order 7 of 2019, the Road Trust Fund Policy/Tax Credit Scheme gives private sector operators an opportunity to fund critical infrastructure with the government.
Stakeholders also agreed to enforce mandatory installation of safety valves in all petroleum product trucks in the country effective February 1, 2022 with full commitment given by NARTO.
The meeting also frowned at the abuse of axle load or tonnage limits, with the NNPC agreeing to engage the Nigerian Customs Service for enforcement of preventing the importation of tanks that exceed 45,000 litres capacity.

Energy

Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide

Published

on

 

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.

ALSO READ: Dangote Slashes PMS Price To N899.50k

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.”

Continue Reading

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

Copyright © 2022. Biztellers, powered by Alphaxristi.