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A British firm, Savannah Energy says its Accugas subsidiary has entered into a new gas sales agreement with Mulak Energy Limited to boost gas supply in Nigeria.
It said Mulak, a member of the Mansour Group, an Egyptian multinational conglomerate, initially planned to distribute Compressed Natural Gas to its industrial customers in Rivers State. The firm said in a statement on Friday that the CNG would be substituted for diesel in generators supplied by the Mantrac Group, also a member of the Mansour Group… More details through: https://punchng.com/british-egyptian-firms-to-boost-nigerias-gas-supply/
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Savannah Energy PLC, the African-focused British independent energy company, through its subsidiary Accugas, has entered into a new gas sales agreement with Mulak Energy Limited, replacing diesel generators with Compressed Natural Gas (CNG). The GSA is initially for a seven-year term…
More details through: https://businessday.ng/energy/oilandgas/article/accugas-signs-first-gas-sales-agreement-with-firm-replacing-diesel-generators/ Nigeria’s state oil company is renegotiating commercial contract terms with major oil firms, its chief told Reuters, in a move that it hopes will keep investment flowing into a sector crucial for its economy at a time when spending is being slashed.
Africa’s largest oil exporter and biggest economy relies on the oil sector for half of its budget and 90% of its foreign exchange. It wants to raise revenue but also attract investment. Oil companies meanwhile, including Royal Dutch Shell, ExxonMobil, Total and Eni, are cutting billions in spending after taking hits to their profits, shifting money to renewable fuels and focusing only on the most cost-effective markets… More details through: https://www.reuters.com/article/idUSL8N2KB2WU Morocco and Nigeria renewed their commitment on Sunday to building a gas pipeline that will take an onshore and offshore route and a fertilisers plant, the royal palace in Rabat said.
The renewed commitment came during a phone call between Morocco’s King Mohammed VI and Nigerian President Muhammadu Buhari, the palace said. The two countries agreed to the pipeline in December 2016 and launched feasibility studies. The pipeline will be 5,660 km (3,517 miles) long, the two countries said in June 2018, adding that construction will be in phases covering 25 years… More details through: https://www.reuters.com/article/idUSKBN2A11K9 At least 35,000 jobs are to be created from the 10,000 tonnes/day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL). The project is being promoted by the Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC) and DSV Engineering and committing equity investment of $670 million into it.
The Executive Secretary of NCDMB, Engr Simbi Kesiye Wabote, the Group Managing Director (GMD) of the NNPC, Malam Mele Kolo Kyari, and Executive Vice-Chairman of BFPCL, Mr Ben Okoye, signed the Final Investment Decision (FID) on behalf of their organisations in Abuja at the weekend. Speaking at the event, the Minister of State for Petroleum Resources, Mr Timipre Sylva, said that the project was part of the strategic efforts to maximise value and monetise the country’s vast gas endowments… More details through: https://www.sunnewsonline.com/670-million-brass-methanol-plant-to-create-35000-jobs-fg/ The supply of Liquefied Petroleum Gas, LPG, has increased by 11 per cent to 83,900.761 Metric Tonnes, MT, in December 2020, according to the Petroleum Products Pricing Regulatory Agency, PPPRA.
A breakdown of data obtained from the PPPRA showed that of the 83,900.761MT supplied in December 2020, from 74,915.973 MT in December 2019, 42,578.841MT was imported, while 41,321.761MT was locally sourced. It also indicated that of the 74,915.973MT supplied in the corresponding month of 2019, 57,861.211MT was imported, while 17,054.762MT was locally sourced… More details through: https://www.vanguardngr.com/2021/01/nigerias-lpg-supply-increases-by-11-to-83900mt-in-one-month/ Nigeria emerged as the fourth biggest supplier of crude oil to India in December, pushing the United States down to the sixth position just after Brazil.
Reuters reported on Wednesday that India’s crude oil imports in December soared to the highest levels in nearly three years to more than five million barrels per day as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed. India’s year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally… More details through: https://punchng.com/nigeria-overtakes-us-as-indias-fourth-biggest-oil-supplier/ Amid sharp decline in LNG utilisation rates in many parts of the world last year, gas exports from West African producers, especially Nigeria, showed some resilience in 2020, trading 27.6 billion cubic feet (bcm) of gas equivalent to the total 39 bcm traded by the region.
The country’s export was down one per cent in 2019, and not far off the 30 Bcm/year (22 million mt/year) capacity of the six-train Nigeria LNG (NLNG) facility. That was despite sharp falls in LNG utilisation rates in other parts of the world last year, particularly in the U.S. over the summer, while spot-exposed Egypt halted LNG exports almost completely in the April-September period. Noting that much of Africa’s gas supply growth would come from Nigeria, PwC, in its Africa Oil and Gas Review 2020, themed: “Energising a New Tomorrow,” said the positive outlook for natural gas, often termed the renewable bridging fuel due to its lower carbon footprint, will see stronger price and demand recovery as countries move to rebuild their economies… More details through: https://guardian.ng/energy/nigeria-leads-regional-lng-export-with-27-6bcm-amid-uncertain-outlook/ To reduce the incessant encroachment on Nigeria’s pipeline network, an Austrian Firm, ScanTECH Isoplus, has said that it is set to build one of the largest intrusion detection pipelines systems in the country.
The company noted that major agencies and institutions of government, like the Nigerian National Petroleum Corporation (NNPC) and international oil companies (IOCs) could be key beneficiaries of its investment commitment in that respect. Essentially, pipeline intrusion detection systems, have the capability to discern Third Party Interference (TPI), illegal tapping attempts and unauthorised excavation along buried pipelines; from a few to thousands of kilometres… More details through: https://www.thisdaylive.com/index.php/2021/01/18/austrian-firm-to-build-pipeline-factory-in-nigeria/ With the uncertainty trailing oil exports and revenue due to the lingering impact of the pandemic, PriceWaterhouseCoopers (PwC) has advised Nigeria and other African countries to be strategic in their energy transition plans, while exploring opportunities in gas development.
Noting that much of Africa’s gas supply growth will come from Nigeria, PwC, in its Africa Oil and Gas Review 2020, themed energising a new tomorrow, added that the positive outlook for natural gas, which is often termed the renewable bridging fuel due to its lower carbon footprint, will see stronger price and demand recovery as countries move to rebuild their economies. The report reflected the opportunities in gas export for Nigeria, noting that Africa consumes 63% of its total gas production, predominantly for power generation, even though the continent’s gas exporting countries saw a total decline of more than 6% in 2020 from 39.7 mtpa in 2019 to 37.3 mtpa in 2020… More details through: https://guardian.ng/energy/pwc-projects-nigeria-to-drive-africas-gas-supply-from-2021/ |
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