Energy
Quality Petroleum Education will solve challenges of Energy Transition, create boom in Gas Sector- Wabote
Lucky MOMOH
WARRI-THERE is an urgent need for the Federal Government and other stakeholders of the oil and gas industry to intensify efforts in the promotion of quality petroleum education and development of competent manpower who would help Nigeria meet the challenges of the ongoing energy transition and expected boom in the gas sector.
This was the key recommendation by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote in the convocation lecture he delivered on Friday at the Federal University of Petroleum Resources (FUPRE) Effurun, Delta State, titled “Defining the Value of Local Content in Petroleum Education.”
He canvassed that as western nations shift their attention from oil and gas and focus on the provision of funding, manufacturing of equipment, and development of supply chain to support their renewable energy sources, it is imperative that Nigeria and other hydrocarbon-rich countries develop the requisite capacity and capability to produce and utilize their fossil fuel resources.
According to him, the ongoing debate and the deadlines being set in respect of energy transition underscored the need to develop home-grown skill sets to develop and manage the nation’s natural resources. He stressed that “the narrative around energy transition has further revealed the need to ensure that there is a direct link between our petroleum education and the development and utilization of our hydrocarbon resources, so we are able to deal with any outcome of the transition.”
Commenting on the recent enactment of the Petroleum Industry Act 2021 and the Decade of Gas initiative, Wabote pointed out that those developments would not only engender investments and utilization of the nation’s estimated 600 trillion cubic feet of gas reserves but also lead to a boom in the gas sector, which would benefit discerning institutions, investors, operators, and service providers.
He added that “these scenarios require a robust petroleum education sector to ensure that our in-country skill sets are available and sufficient to support the exploration, development, production, and processing of hydrocarbon resources.”
The Executive Secretary charged educational institutions in Nigeria to prepare for the opportunities and challenges of energy transition and gas revolution by preparing robust curriculum in petroleum education with the mindset of enabling Nigerians develop and utilize our hydrocarbon resources using our home-grown technology. The institutions should put require greater focus on development of top-notch graduates to enable the development of Nigerian hydrocarbon resources – especially gas, he canvassed.
This he further explained, “will ensure that we are not forced out from the development of hydrocarbon resources due to lack of technical capability as was the case with coal development in Enugu.”
He maintained that FUPRE is an institution devoted to petroleum education and should be at the forefront of preparing our manpower needs for any outcome or impact of Energy Transition.
He agreed on the need to add renewables to the global energy mix to ensure energy security, but criticized attempts by the western world to demonize or de-marketing other energy sources as well as extracting commitments and setting unrealistic deadlines for countries to abandon fossil fuels.
He advised all nations to jealously guard their locally available sources of energy and ensure they remain in their energy mix for the benefit of their people.
He also highlighted two implications that have emerged from the rush to move the world away from fossil fuels and they include Divestment, whereby western countries shift funding away from the development of hydrocarbons towards renewable energy and Energy Shortage, which is the decline in the supply of hydrocarbons due to lack of investments and the fast pace of the shift to renewable energies.
He posited that Divestment has resulted in the emergence of indigenous companies playing major roles in exploration and production activities “such that companies like AITEO, FIRST E&P, EROTON, and others have acquired assets and are now responsible for producing about 15% of Nigeria’s oil and more than 60% of domestic gas.”
He however regretted that the divestment of the international oil companies and their reluctance to make further investments in oil and gas have resulted in the repatriation of capital out of Nigeria. “This stifles the nation’s economy of the much-needed foreign exchange with funds used as loans to acquire oil and gas assets instead of being used to develop new production assets,” he rued.
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.
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.
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