Energy
SNEPCo, Former MD Aiboni Win Energy Times’ Awards
The Shell Nigeria Exploration and Production Company (SNEPCo) has been named Major Oil Company of the Year for last year by a Nigerian publication, Energy Times.
Biztellers reports that this is in recognition of the company’s contributions to deep-water oil and gas development and the industry generally.
Energy Times also awarded the title of Amazon of Nigeria’s Oil Sector for 2024 to Elohor Aiboni, a former Managing Director of SNEPCo now on international assignment in Brunei.
The awards were presented to SNEPCo’s Senior Operations Manager, Bolanle Odunayo-Ojo, who represented the Managing Director, Ronald Adams at a ceremony attended by key stakeholders in the oil and gas sector.
ALSO READ: BREAKING: Again, Dangote Cuts Petrol Price To N835 per Litre
“We are honored to receive the recognitions for the company and our former Managing Director as they underscore our dedication to excellence in the upstream sector,” Bolanle stated. “The modest achievements are result from teamwork and support by our partners, particularly the Nigerian National Petroleum Company Limited and regulatory agencies. The awards encourage us to continue to work together to power progress and innovation in Nigeria’s energy landscape.”
The SNEPCo has been a pioneer in Nigeria’s deep-water oil and gas production since it began production from Bonga in 2005, Nigeria’s first deep-water well. Gas from Bonga is also piped to Nigeria Liquefied Natural Gas Company Limited at Bonny Island. SNEPCo’s operations have led to significant discoveries, including Bonga Southwest in 2001 and Bonga Northwest, which began production on August 5, 2014.
In its award, the Board of Directors of Energy Times pointed to the continuing success of Bonga, notably production of the 1 billionth barrel of oil in February 2023 and the recent Final Investment Decision on the $5 billion Bonga North project.
The award on Aiboni’s highlights a career that has seen her serve in various business and leadership roles within and outside Nigeria. She was appointed Managing Director of SNEPCo in 2021 and led initiatives that deepened operational efficiency, local content development and social investment projects across the six geopolitical zones in the country.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that 172 Host Communities Development Trusts (HCDTs) have so far been incorporated by oil and gas companies operating across the country.
The chief executive, NUPRC, Oritsemeyiwa Eyesan, disclosed this while addressing the leadership of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in Abuja.
Under the Petroleum Industry Act (PIA), oil and gas companies, referred to as settlors, are required to contribute three percent of their Operating Expenditure from the preceding financial year into a Host Communities Trust Fund for the benefit of communities where they operate.
Eyesan said the NUPRC had been enforcing the provisions of the Act, particularly those relating to host communities and the obligations of operating companies, and had put in place regulations and procedures to streamline the process.
“We have laid out procedures for doing things and we have put regulations in place to streamline the process. So far, we have registered 172 HCDTs and we have been able to manage contributions by settlors,” she said.
READ ALSO: Nigeria Beats 2026 Foreign Reserves Target, Hits $53.1b
She said the trusts had funded the construction of schools, hospitals and other infrastructure, and had contributed significantly to peace and stability in previously volatile communities, which in turn had led to an increase in oil production.
Eyesan, however, admitted that some of the HCDTs had become subjects of litigation over disagreements on the constitution of their Boards of Trustees. She said the Commission had been working to ensure the trusts run smoothly, and that its Alternative Dispute Resolution Centre had played a key role in addressing some of the grievances.
She said that while the RMAFC’s interest in host communities was appreciated, oversight of how the funds are managed remained the exclusive preserve of the NUPRC.
The NUPRC boss also promised to investigate the lingering disagreement between Sterling Oil Exploration and Energy Production Company (SEEPCO) and its host community in Anambra State.
Responding, the chairman of the RMAFC, Dr Mohammed Bello Shehu, commended the NUPRC for overseeing reforms in the oil and gas sector that had contributed to growth in production.
Shehu said the RMAFC regards the upstream oil and gas sector as important, given that it accounts for a large share of revenue accruing to the Federation Account.
He thanked the NUPRC leadership for honouring the RMAFC’s invitation and called for stronger collaboration between the two institutions in the interest of the country.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that crude oil imports by domestic refineries rose by 151.5 percent to 5.13 million barrels in July 2026, from 2.04 million barrels in June.
In a related development, domestic crude supply to refineries fell sharply during the month.
According to the NMDPRA’s July 2026 Midstream and Downstream Statistics, local refineries received a total of 17.88 million barrels of crude in July, comprising 12.75 million barrels supplied domestically and 5.13 million barrels imported.
Imported crude therefore accounted for 28.7 percent of total crude receipts by domestic refineries in July, while domestic supplies contributed the remaining 71.3 percent.
The 5.13 million barrels imported in July represented a significant rebound from the 2.04 million barrels recorded in June. It was also higher than the 2.08 million barrels imported in May and 0.41 million barrels in April.
READ ALSO: Host Community Angry at FG’s Political Undertones on Kolmani Oilfield
However, July’s import volume remained below the 9.43 million barrels recorded in March, the highest monthly volume so far in 2026.
The data showed that crude imports stood at 0.71 million barrels in January before rising to 4.25 million barrels in February and peaking at 9.43 million barrels in March.
Imports subsequently plunged to 0.41 million barrels in April, before recovering to 2.08 million barrels in May, 2.04 million barrels in June and 5.13 million barrels in July.
The report also disclosed that domestic crude supply to refineries declined by 25.4 percent month-on-month, falling from 17.08 million barrels in June to 12.75 million barrels in July.
In January, domestic refineries received 8.83 million barrels of domestic crude and 0.71 million barrels of imported crude, bringing total receipts to 9.54 million barrels.
The figure rose to 13.13 million barrels in February, comprising 8.88 million barrels of domestic crude and 4.25 million barrels of imports.
March recorded the highest total crude receipts at 20.92 million barrels, with domestic supply contributing 11.49 million barrels and imports 9.43 million barrels.
Total receipts stood at 18.37 million barrels in April, made up of 17.96 million barrels of domestic crude and 0.41 million barrels of imports.
In May, refineries received 17.92 million barrels, comprising 15.84 million barrels of domestic crude and 2.08 million barrels of imports, while June recorded 19.12 million barrels, made up of 17.08 million barrels of domestic crude and 2.04 million barrels of imports.
Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
In an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries.
The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, asked customers to take note of the revised DPRP PMS gantry and coastal price, which is effective 26th August 2026.
READ ALSO: US Hails DPRP as Nigeria’s Petroleum Exports Surge Seven Times
According to the table contained in the notice, the coastal price rose from N1,562,265 per metric tonne to N1,582,380, while the gantry price increased from N1,185 to N1,200 per litre.
The refinery further directed customers to return all Authorisation to Collect documents for repricing, adding that a new volume contract would be issued for immediate loading resumption.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre. The previous increase took effect from midnight on August 21, 2026, according to industry trackers.
However, the latest hike comes against a backdrop of falling international crude oil prices. Data from oilprice.com on Tuesday showed West Texas Intermediate crude trading at $82.13 per barrel, down $2.88 or 3.39 per cent, while Brent crude stood at $88.37 per barrel, declining by $3.80 or 4.12 per cent. Murban crude also fell to $92.71 per barrel, shedding $8.73 or 8.61 per cent.
Our correspondent gathered that marketers and depot operators who received the circular might have begun returning existing ATCs for repricing in line with the refinery’s directive.
The N15 increase could result in higher pump prices as oil marketers factor in transportation, landing and other downstream costs. Petrol is expected to return to an average of N1,250 per litre.
The Dangote Group has yet to respond to messages from our correspondent.
The price increase comes at a time of renewed volatility in the international oil market amid the ongoing US-Iran conflict. Reuters reported that oil prices fell as investors viewed the latest US sanctions against Iran as less threatening to global oil supplies than a military escalation. However, analysts warned that the decline could be an overreaction, noting that prices could rise sharply if Iran retaliates militarily.
Reuters also reported that supply disruption risks remained, with only two commodity vessels transiting the Strait of Hormuz on Monday, the lowest daily tally since early May. The waterway handled about one-fifth of global oil consumption before the conflict began, leaving the market vulnerable to further disruptions.
DPRP Uses Court to Restrain NMDPRA from Meddlesomeness
Group Credits PINL with Safeguarding Environment, Farms
Dangote Threatens Petrol Importers’ Supply Over Product Blending
JUST IN: ‘Nothing Left to Give’ — Messi Announces Retirement From Argentina
INEC Raises Alarm as Fake 2027 Election Recruitment Website Surfaces
2027: ‘We Must Build the Table’ — Opposition Leaders Meet in Abuja to Challenge Tinubu
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
1fpsbv
61ejbz
Some genuinely superb articles on this site, thank you for contribution. “My salad days, When I was green in judgment.” by William Shakespeare.
you have a great blog here! would you like to make some invite posts on my blog?
you are in point of fact a good webmaster. The site loading velocity is incredible. It seems that you are doing any distinctive trick. Moreover, The contents are masterpiece. you have performed a magnificent activity in this topic!
You have remarked very interesting points! ps decent site.
I have been absent for a while, but now I remember why I used to love this web site. Thanks , I’ll try and check back more often. How frequently you update your web site?
A powerful share, I simply given this onto a colleague who was doing a bit evaluation on this. And he in actual fact bought me breakfast as a result of I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to debate this, I feel strongly about it and love studying more on this topic. If attainable, as you grow to be expertise, would you thoughts updating your blog with extra details? It is extremely useful for me. Large thumb up for this blog put up!
Fantastic beat ! I wish to apprentice while you amend your web site, how can i subscribe for a blog website? The account helped me a acceptable deal. I had been a little bit acquainted of this your broadcast provided bright clear concept
What i don’t realize is in reality how you are no longer really a lot more neatly-preferred than you may be right now. You are very intelligent. You already know therefore significantly relating to this matter, produced me in my opinion imagine it from so many numerous angles. Its like women and men don’t seem to be involved unless it is one thing to accomplish with Lady gaga! Your individual stuffs nice. At all times handle it up!
Great beat ! I would like to apprentice whilst you amend your web site, how can i subscribe for a weblog site? The account aided me a applicable deal. I had been a little bit acquainted of this your broadcast provided brilliant clear concept
Nice post. I be taught something more challenging on totally different blogs everyday. It’s going to all the time be stimulating to read content from different writers and practice a bit of something from their store. I’d choose to make use of some with the content material on my weblog whether you don’t mind. Natually I’ll give you a hyperlink in your internet blog. Thanks for sharing.
There are actually quite a lot of details like that to take into consideration. That may be a nice point to convey up. I offer the thoughts above as normal inspiration however clearly there are questions just like the one you convey up where an important factor can be working in sincere good faith. I don?t know if greatest practices have emerged around issues like that, however I am positive that your job is clearly identified as a good game. Both girls and boys really feel the affect of just a moment’s pleasure, for the rest of their lives.
Hello There. I found your blog using msn. This is a really well written article. I’ll be sure to bookmark it and return to read more of your useful information. Thanks for the post. I will definitely return.
Pretty nice post. I just stumbled upon your blog and wished to say that I’ve really enjoyed browsing your blog posts. In any case I will be subscribing to your rss feed and I hope you write again very soon!
I will right away snatch your rss as I can’t to find your e-mail subscription link or e-newsletter service. Do you’ve any? Kindly permit me recognise so that I could subscribe. Thanks.
I like what you guys are up also. Such smart work and reporting! Carry on the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my web site 🙂
As I site possessor I believe the content material here is rattling excellent , appreciate it for your hard work. You should keep it up forever! Good Luck.
Useful information. Fortunate me I found your site by accident, and I am surprised why this twist of fate didn’t happened earlier! I bookmarked it.
Of course, what a splendid blog and illuminating posts, I will bookmark your site.Best Regards!
Respect to website author, some good selective information.
I carry on listening to the news broadcast lecture about getting free online grant applications so I have been looking around for the best site to get one. Could you tell me please, where could i find some?
you’ve gotten a great blog right here! would you prefer to make some invite posts on my blog?