Energy
Sahara Group Unveils 2060 Net Zero Plan To Drive Sustainability
Leading energy and infrastructure conglomerate, Sahara Group has stated its commitment to transform into a net zero business entity by 2060 as it continues to align operations to facilitate greener and cleaner energy solutions.
The Corporate Communications Department, Sahara Group, made the disclosure in a statement on Tuesday signed by Bethel Obioma.
According to the statement, Director, Governance and Sustainability, Sahara Group, Ejiro Gray, made the assertion during the presentation of the group’s 2022 sustainability report, titled, “Energising Innovative Solutions for Sustainable Development.”
She said, “We have initiated the development of our Energy Transition Plan, which outlines a comprehensive framework of short- to long-term energy transition actions, accompanied by our resolute commitment to reducing our operational carbon footprint,”
Gray maintained that it was Sahara Group’s aspiration to transition into a net zero business entity before or by the year 2060.
“To this end, we aim to launch projects that will provide evidence-based insights regarding how to mitigate, reduce and eliminate our operating emissions, setting ambitious yet achievable targets for operational efficiency.
“As a global energy firm that plays a distinctive role in powering economic growth, we recognise the inherent responsibility we bear in contributing to the realisation of an equitable energy transition strategy,” she added.
Gray explained that the plan would cover Sahara Group’s operations in upstream, midstream, downstream, power and infrastructure sectors in over 42 countries across Africa, Asia, Europe, and the Middle East.
“As a foremost energy conglomerate invested in bringing energy to life responsibly, we consider our net zero plan as integral to the sustainability of our business and more importantly, our contribution to global efforts geared towards building a healthier, cleaner and more productive planet Earth for future generations,” she pointed out.
According to Gray, Sahara Group conducted a thorough GHG (Greenhouse Gas) emissions audit across its businesses for the 2019-2021 period, establishing baseline data for scope 1 and 2 emissions.
Gray maintained that, “This enables us to effectively analyze, track, and control our environmental impact in a transparent and consistent manner. The collected data will inform our efforts to mitigate environmental risks and align with our Energy Transition Plan.”
Biztellers reports that Sahara Group’s 2022 sustainability report provides critical information regarding the environmental, social, and corporate governance impacts resulting from its business operations spanning January 1 to December 31, 2022.
The scope of the report encompasses the following businesses within the Sahara Group: Upstream Operations (Asharami Energy), Midstream Operations (Sahara Trade), Downstream Operations (Asharami Synergy), Power (Generation and Distribution) – Egbin Power, First Independent Power Limited (FIPL) and Ikeja Electric (IE). It also includes a report on the Group’s Social Impact vehicle, the Sahara Group Foundation.
“As a prominent business within our industry, we surmounted numerous challenges in 2022, achieving noteworthy performance across the economic, social, environmental, and governance indicators. We would like to express our sincerest appreciation to all those who have placed their trust in our commitment to conducting business in a sustainable and responsible manner,” Gray stated.
It was gathered that an integrated approach was adopted in the report, leading to consolidated disclosures across the Group, while performance was documented across four fundamental sustainability pillars: Principles of Governance, Planet, People, and Prosperity.
These pillars serve as a framework in adherence to the Global Reporting Initiative (GRI) Standards, which facilitate robust measurement and reporting practices.
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.