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West Africa Gas Pipeline (WAGP)

  •  The Minister of State for Petroleum Resources Chief Timipre Sylva says government is taking steps to expand and develop its huge gas resources through enhanced gas exploration development and utilisation schemes Sylva disclosed this at the 10th Year Anniversary Celebration of West African Gas Pipeline Company Limited WAPCo on Friday in Lagos The News Agency of Nigeria reports that the theme of the event is Driving Regional Energy The Minister represented by his Chief of Staff Dr Adedapo Odulaja said Nigeria had approximately 209 trillion cubic feet TCF of proven gas reserve with a potential upside of 600TCF This is well placed to take a leading role in providing the much needed gas Furthermore the recently enacted Petroleum Industry Act PIA 2021 will undoubtedly support Nigeria s and indeed the global endeavor to eliminate energy poverty as envisioned in the UN s Sustainable Development Goal SDG The Act has generous incentives to enhance the development distribution penetration and utilisation of gas even as it incentivizes entry into the midstream he said Sylva said Nigeria and Africa should play a leading role in the energy transformation in order to achieve net zero emission with natural gas playing a pivotal role He said the government should therefore persist in expanding the natural gas industry towards global economic recovery and shared prosperity On the 10th year anniversary of WAPCo Sylva said its establishment represents the region s effort at self development and energy security According to him West Africa Gas Pipeline WAGP project objective at inception amongst others seeks to improve the competitiveness of the energy sectors in Ghana Benin and Togo This is by promoting the use of cheaper and environment friendly natural gas from Nigeria in lieu of solid and liquid fuels for power generation and other industrial commercial and domestic uses 10 years down the line the WAGP has literally become the poster child of economic integration in West Africa The synergy that created this fellowship of industry players under the public private partnership banner is the type we currently preach as an administration he said Mr Greg Germani Managing Director WAPCo said from conception through construction all the way through the operational phase of the West African Gas Pipeline WAGP Nigeria had constituted a constant and integral part of the WAGP value chain He said Nigeria shared promise and resources with the rest of the sub region I also salute the vision and courage of ECOWAS and the commitment it took to navigate the complexities of forging a bond of four diverse nations with two private concerns to create this outstanding example of partnership and collaboration As we traveled the entire stretch of the pipeline system celebrating the successes and achievements of the WAGP and sharing our stories I could only pause to marvel at the human spirit Distinguished ladies and gentlemen 10 years of operations will certainly come with obstacles and challenges However WAPCo is now an efficient and dependable natural gas transporter to customers in Benin Togo and Ghana supporting safe cleaner efficient long term and secure power generation from gas supply sources in both Nigeria and Ghana WAPCo continues to focus on maintaining an important safety accomplishment that reflects our passion for and commitment to a strong safety culture he said The Lagos State Commissioner for Energy and Mineral Resources Mr Olalere Odusote said the administration is ready to partner with WAPCo to create more employment for its people Odusote commended the management of the company promoting the use of cheaper and environment friendly natural gas from Nigeria in lieu of solid and liquid fuels He said the government of Lagos would continue to create conducive environment for business to thrive Speaking on behalf of the host communities Olota of Ota Oba Adeyemi Obalanlege said they saw themselves as part of stakeholders of the company Obalanlege said that gas business had generated employment for youths in their communities and assured the management of the company of their usual cooperation NAN also reports that some of the company staff were rewarded with different awards for their outstanding performance NewsSourceCredit NAN
    Nigeria taking steps to expand, develop huge gas resources – Sylva
     The Minister of State for Petroleum Resources Chief Timipre Sylva says government is taking steps to expand and develop its huge gas resources through enhanced gas exploration development and utilisation schemes Sylva disclosed this at the 10th Year Anniversary Celebration of West African Gas Pipeline Company Limited WAPCo on Friday in Lagos The News Agency of Nigeria reports that the theme of the event is Driving Regional Energy The Minister represented by his Chief of Staff Dr Adedapo Odulaja said Nigeria had approximately 209 trillion cubic feet TCF of proven gas reserve with a potential upside of 600TCF This is well placed to take a leading role in providing the much needed gas Furthermore the recently enacted Petroleum Industry Act PIA 2021 will undoubtedly support Nigeria s and indeed the global endeavor to eliminate energy poverty as envisioned in the UN s Sustainable Development Goal SDG The Act has generous incentives to enhance the development distribution penetration and utilisation of gas even as it incentivizes entry into the midstream he said Sylva said Nigeria and Africa should play a leading role in the energy transformation in order to achieve net zero emission with natural gas playing a pivotal role He said the government should therefore persist in expanding the natural gas industry towards global economic recovery and shared prosperity On the 10th year anniversary of WAPCo Sylva said its establishment represents the region s effort at self development and energy security According to him West Africa Gas Pipeline WAGP project objective at inception amongst others seeks to improve the competitiveness of the energy sectors in Ghana Benin and Togo This is by promoting the use of cheaper and environment friendly natural gas from Nigeria in lieu of solid and liquid fuels for power generation and other industrial commercial and domestic uses 10 years down the line the WAGP has literally become the poster child of economic integration in West Africa The synergy that created this fellowship of industry players under the public private partnership banner is the type we currently preach as an administration he said Mr Greg Germani Managing Director WAPCo said from conception through construction all the way through the operational phase of the West African Gas Pipeline WAGP Nigeria had constituted a constant and integral part of the WAGP value chain He said Nigeria shared promise and resources with the rest of the sub region I also salute the vision and courage of ECOWAS and the commitment it took to navigate the complexities of forging a bond of four diverse nations with two private concerns to create this outstanding example of partnership and collaboration As we traveled the entire stretch of the pipeline system celebrating the successes and achievements of the WAGP and sharing our stories I could only pause to marvel at the human spirit Distinguished ladies and gentlemen 10 years of operations will certainly come with obstacles and challenges However WAPCo is now an efficient and dependable natural gas transporter to customers in Benin Togo and Ghana supporting safe cleaner efficient long term and secure power generation from gas supply sources in both Nigeria and Ghana WAPCo continues to focus on maintaining an important safety accomplishment that reflects our passion for and commitment to a strong safety culture he said The Lagos State Commissioner for Energy and Mineral Resources Mr Olalere Odusote said the administration is ready to partner with WAPCo to create more employment for its people Odusote commended the management of the company promoting the use of cheaper and environment friendly natural gas from Nigeria in lieu of solid and liquid fuels He said the government of Lagos would continue to create conducive environment for business to thrive Speaking on behalf of the host communities Olota of Ota Oba Adeyemi Obalanlege said they saw themselves as part of stakeholders of the company Obalanlege said that gas business had generated employment for youths in their communities and assured the management of the company of their usual cooperation NAN also reports that some of the company staff were rewarded with different awards for their outstanding performance NewsSourceCredit NAN
    Nigeria taking steps to expand, develop huge gas resources – Sylva
    Economy6 months ago

    Nigeria taking steps to expand, develop huge gas resources – Sylva

    The Minister of State for Petroleum Resources, Chief Timipre Sylva, says government is taking steps to expand and develop its huge gas resources through enhanced gas exploration, development and utilisation schemes.Sylva disclosed this at the 10th-Year Anniversary Celebration of West African Gas Pipeline Company Limited (WAPCo) on Friday, in Lagos.The News Agency of Nigeria reports that the theme of the event is “Driving Regional Energy”.The Minister, represented by his Chief of Staff, Dr Adedapo Odulaja, said Nigeria had approximately 209 trillion cubic feet (TCF) of proven gas reserve, with a potential upside of 600TCF.“This is well placed to take a leading role in providing the much needed gas. Furthermore, the recently enacted Petroleum Industry Act (PIA 2021) will undoubtedly support Nigeria’s, and indeed the global, endeavor to eliminate energy poverty as envisioned in the UN’s Sustainable Development Goal (SDG).“The Act has generous incentives to enhance the development, distribution, penetration, and utilisation of gas, even as it incentivizes entry into the midstream,” he said.Sylva said Nigeria and Africa should play a leading role in the energy transformation in order to achieve net-zero emission with natural gas playing a pivotal role.He said the government should therefore persist in expanding the natural gas industry towards global economic recovery and shared prosperity.On the 10th-year anniversary of WAPCo, Sylva said its establishment represents the region’s effort at self-development and energy security.According to him, West Africa Gas Pipeline (WAGP) project objective at inception, amongst others, seeks to improve the competitiveness of the energy sectors in Ghana, Benin, and Togo.“This is by promoting the use of cheaper and environment-friendly natural gas from Nigeria in lieu of solid and liquid fuels, for power generation and other industrial, commercial, and domestic uses.“10 years down the line, the WAGP has literally become the poster child of economic integration in West Africa.“The synergy that created this fellowship of industry players, under the public-private partnership banner, is the type we currently preach as an administration,” he said.Mr Greg Germani, Managing Director, WAPCo, said from conception through construction, all the way through the operational phase of the West African Gas Pipeline (WAGP), Nigeria had constituted a constant and integral part of the WAGP value chain.He said Nigeria shared promise and resources with the rest of the sub-region.“I also salute the vision and courage of ECOWAS and the commitment it took to navigate the complexities of forging a bond of four diverse nations, with two private concerns, to create this outstanding example of partnership and collaboration.“As we traveled the entire stretch of the pipeline system, celebrating the successes and achievements of the WAGP and sharing our stories, I could only pause to marvel at the human spirit.“Distinguished ladies and gentlemen, 10 years of operations will certainly come with obstacles and challenges.“However, WAPCo is now an efficient and dependable natural gas transporter to customers in Benin, Togo, and Ghana, supporting safe, cleaner, efficient, long-term, and secure power generation from gas supply sources in both Nigeria and Ghana.“WAPCo continues to focus on maintaining an important safety accomplishment that reflects our passion for and commitment to a strong safety culture,” he said.The Lagos State Commissioner for Energy and Mineral Resources, Mr Olalere Odusote, said the administration is ready to partner with WAPCo to create more employment for its people.Odusote commended the management of the company promoting the use of cheaper and environment-friendly natural gas from Nigeria in lieu of solid and liquid fuels.He said the government of Lagos would continue to create conducive environment for business to thrive.Speaking on behalf of the host communities, Olota of Ota, Oba Adeyemi Obalanlege, said they saw themselves as part of stakeholders of the company.   Obalanlege said that gas business had generated employment for youths in their communities, and assured the management of the company of their usual cooperation.   NAN also reports that some of the company staff were rewarded with different awards for their outstanding performance.
     

    NewsSourceCredit: NAN

  •   Helios Investment Partners Helios the Africa focused private investment firm acting on behalf of the funds it advises and Sojitz Corporation Sojitz one of the leading investment conglomerates and trading houses listed on the the Tokyo Stock Exchange announce the completion of the sale by Helios of a 25 stake in the holding company of Axxela www AxxelaGroup com the largest private sector gas distributor in Nigeria to Sojitz Helios retains a 75 stake in the company This transaction marks Sojitz s first significant equity investment in Africa signaling its growth ambitions on the continent and serving as a blueprint for future collaboration in Africa between Helios and Sojitz in a variety of sectors As like minded shareholders Helios and Sojitz look forward to accelerating further growth of Axxela s business by leveraging Sojitz s expertise in developing gas and power infrastructure projects and providing low carbon energy solutions to industrial customers around the world world Axxela is a pioneering energy infrastructure company at the forefront of providing cleaner cheaper and more reliable energy to industrial customers in West Africa Its operations support the utilization of Nigeria s vast domestic gas resources to fuel industrial growth while facilitating the fuel switch by industries to gas reducing emissions of CO2 nitric oxide and sulfur oxide which enables the transition to a lower carbon economy Axxela enabled its customers to reduce their CO2 emissions by 1 7 million tons between 2018 and 2020 by switching their energy supply from diesel or heavy fuel oil HFO to gas and will extend that contribution to reduce CO2 emissions through the growth of your business Axxela Group started operations in 2001 and currently serves more than 200 industrial clients in key industrial hubs in Lagos Port Harcourt and Sagamu providing a comprehensive energy offer through pipelines compressed natural gas CNG and liquefied natural gas LNG It also supplies gas to utilities and industries throughout the West African region leveraging its status as a designated carrier on the West Africa Gas Pipeline WAGP a regional gas pipeline that spans Benin Togo and Ghana Sojitz is a leading conglomerate whose expertise spans multiple industries including energy gas LNG renewables power new clean energy including hydrogen automotive aerospace agriculture chemicals consumer goods healthcare infrastructure and resources As a global energy player Sojitz has extensive experience in the gas and energy infrastructure sector where he has been involved in the development of gas distribution networks LNG terminals and power plants worldwide Under Sojitz s 2023 Medium Term Management Plan the company aims to take a market oriented initiative in growing industries and has developed a downstream gas business in Vietnam in accordance with the plan This know how will improve the operation and growth of the Axxela Group and will ultimately aim to provide multiple energy solutions that meet the requirements of individual customers while contributing to CO2 reduction West Africa s abundant gas resources have for decades met the energy requirements of Europe and Asia through LNG exports with modest growth in regional consumption due to a lack of processing and distribution infrastructure to connect with demand From the market Helios and Sojitz together believe that an actionable economically viable and just energy transition pathway for Africa can be achieved through accelerated construction of gas infrastructure which would enable the switch from coal and liquid fuels eliminate gas flaring routine and would support the increased penetration of renewables by complementing their intermittent supply with a reliable and flexible gas fired power supply Ogbemi Ofuya Partner at Helios Investment Partners commented We feel privileged to enter into this partnership with Sojitz to drive further growth for Axxela s business This transaction demonstrates the value of our strategy to build strategically important market leading businesses that become highly sought after by global investors looking to enter Africa or increase their presence on the continent Sojitz is a world class energy infrastructure investor and its investment represents the first Japanese strategic investment in a downstream gas distribution business in Africa We look forward to working together to accelerate energy access for industrial growth and decarbonization in Africa Masakazu Hashimoto COO of the Health and Infrastructure Division of Sojitz Corporation commented We are pleased to announce this strategic investment in Axxela Group which opens the door to our entry into a downstream gas market in Africa where huge growth potential is expected Africa is the greatest frontier of the 21st century This transaction embodies our market oriented initiative and co creation and sharing methodologies and begins a partnership between the international reputation fund Helios and Sojitz We hope that this collaboration will create additional value for Axxela and its stakeholders through disciplined investment while fully addressing ESG issues Mr Bolaji Osunsanya CEO of Axxela Limited commented We are delighted to welcome Sojitz to the Axxela family This represents another first for us as an organization and a great testament to the continued confidence of investors in our business It also further affirms our position not only as a market leader but as a trusted partner enabling industrialization throughout Africa With Sojitz on board our capacity is stronger and we are better placed to attract the capital needed to continue executing our development oriented projects
    Helios Investment Partners and Sojitz Corporation start collaborations in West African gas downstream businesses
      Helios Investment Partners Helios the Africa focused private investment firm acting on behalf of the funds it advises and Sojitz Corporation Sojitz one of the leading investment conglomerates and trading houses listed on the the Tokyo Stock Exchange announce the completion of the sale by Helios of a 25 stake in the holding company of Axxela www AxxelaGroup com the largest private sector gas distributor in Nigeria to Sojitz Helios retains a 75 stake in the company This transaction marks Sojitz s first significant equity investment in Africa signaling its growth ambitions on the continent and serving as a blueprint for future collaboration in Africa between Helios and Sojitz in a variety of sectors As like minded shareholders Helios and Sojitz look forward to accelerating further growth of Axxela s business by leveraging Sojitz s expertise in developing gas and power infrastructure projects and providing low carbon energy solutions to industrial customers around the world world Axxela is a pioneering energy infrastructure company at the forefront of providing cleaner cheaper and more reliable energy to industrial customers in West Africa Its operations support the utilization of Nigeria s vast domestic gas resources to fuel industrial growth while facilitating the fuel switch by industries to gas reducing emissions of CO2 nitric oxide and sulfur oxide which enables the transition to a lower carbon economy Axxela enabled its customers to reduce their CO2 emissions by 1 7 million tons between 2018 and 2020 by switching their energy supply from diesel or heavy fuel oil HFO to gas and will extend that contribution to reduce CO2 emissions through the growth of your business Axxela Group started operations in 2001 and currently serves more than 200 industrial clients in key industrial hubs in Lagos Port Harcourt and Sagamu providing a comprehensive energy offer through pipelines compressed natural gas CNG and liquefied natural gas LNG It also supplies gas to utilities and industries throughout the West African region leveraging its status as a designated carrier on the West Africa Gas Pipeline WAGP a regional gas pipeline that spans Benin Togo and Ghana Sojitz is a leading conglomerate whose expertise spans multiple industries including energy gas LNG renewables power new clean energy including hydrogen automotive aerospace agriculture chemicals consumer goods healthcare infrastructure and resources As a global energy player Sojitz has extensive experience in the gas and energy infrastructure sector where he has been involved in the development of gas distribution networks LNG terminals and power plants worldwide Under Sojitz s 2023 Medium Term Management Plan the company aims to take a market oriented initiative in growing industries and has developed a downstream gas business in Vietnam in accordance with the plan This know how will improve the operation and growth of the Axxela Group and will ultimately aim to provide multiple energy solutions that meet the requirements of individual customers while contributing to CO2 reduction West Africa s abundant gas resources have for decades met the energy requirements of Europe and Asia through LNG exports with modest growth in regional consumption due to a lack of processing and distribution infrastructure to connect with demand From the market Helios and Sojitz together believe that an actionable economically viable and just energy transition pathway for Africa can be achieved through accelerated construction of gas infrastructure which would enable the switch from coal and liquid fuels eliminate gas flaring routine and would support the increased penetration of renewables by complementing their intermittent supply with a reliable and flexible gas fired power supply Ogbemi Ofuya Partner at Helios Investment Partners commented We feel privileged to enter into this partnership with Sojitz to drive further growth for Axxela s business This transaction demonstrates the value of our strategy to build strategically important market leading businesses that become highly sought after by global investors looking to enter Africa or increase their presence on the continent Sojitz is a world class energy infrastructure investor and its investment represents the first Japanese strategic investment in a downstream gas distribution business in Africa We look forward to working together to accelerate energy access for industrial growth and decarbonization in Africa Masakazu Hashimoto COO of the Health and Infrastructure Division of Sojitz Corporation commented We are pleased to announce this strategic investment in Axxela Group which opens the door to our entry into a downstream gas market in Africa where huge growth potential is expected Africa is the greatest frontier of the 21st century This transaction embodies our market oriented initiative and co creation and sharing methodologies and begins a partnership between the international reputation fund Helios and Sojitz We hope that this collaboration will create additional value for Axxela and its stakeholders through disciplined investment while fully addressing ESG issues Mr Bolaji Osunsanya CEO of Axxela Limited commented We are delighted to welcome Sojitz to the Axxela family This represents another first for us as an organization and a great testament to the continued confidence of investors in our business It also further affirms our position not only as a market leader but as a trusted partner enabling industrialization throughout Africa With Sojitz on board our capacity is stronger and we are better placed to attract the capital needed to continue executing our development oriented projects
    Helios Investment Partners and Sojitz Corporation start collaborations in West African gas downstream businesses
    Africa8 months ago

    Helios Investment Partners and Sojitz Corporation start collaborations in West African gas downstream businesses

    Helios Investment Partners ("Helios"), the Africa-focused private investment firm, acting on behalf of the funds it advises, and Sojitz Corporation ("Sojitz"), one of the leading investment conglomerates and trading houses listed on the the Tokyo Stock Exchange, announce the completion of the sale by Helios of a 25% stake in the holding company of Axxela (www.AxxelaGroup.com), the largest private sector gas distributor in Nigeria, to Sojitz. Helios retains a 75% stake in the company.

    This transaction marks Sojitz's first significant equity investment in Africa, signaling its growth ambitions on the continent and serving as a blueprint for future collaboration in Africa between Helios and Sojitz in a variety of sectors. As like-minded shareholders, Helios and Sojitz look forward to accelerating further growth of Axxela's business by leveraging Sojitz's expertise in developing gas and power infrastructure projects and providing low-carbon energy solutions to industrial customers around the world. world.

    Axxela is a pioneering energy infrastructure company at the forefront of providing cleaner, cheaper and more reliable energy to industrial customers in West Africa. Its operations support the utilization of Nigeria's vast domestic gas resources to fuel industrial growth while facilitating the fuel switch by industries to gas, reducing emissions of CO2, nitric oxide and sulfur oxide, which enables the transition to a lower carbon economy. Axxela enabled its customers to reduce their CO2 emissions by 1.7 million tons between 2018 and 2020 by switching their energy supply from diesel or heavy fuel oil (HFO) to gas and will extend that contribution to reduce CO2 emissions through the growth of your business.

    Axxela Group started operations in 2001 and currently serves more than 200 industrial clients in key industrial hubs in Lagos, Port Harcourt and Sagamu, providing a comprehensive energy offer through pipelines, compressed natural gas (CNG) and liquefied natural gas ( LNG). It also supplies gas to utilities and industries throughout the West African region, leveraging its status as a designated carrier on the West Africa Gas Pipeline (WAGP), a regional gas pipeline that spans Benin, Togo and Ghana.

    Sojitz is a leading conglomerate whose expertise spans multiple industries, including energy (gas, LNG, renewables, power, new clean energy including hydrogen), automotive, aerospace, agriculture, chemicals, consumer goods, healthcare, infrastructure and resources. As a global energy player, Sojitz has extensive experience in the gas and energy infrastructure sector, where he has been involved in the development of gas distribution networks, LNG terminals and power plants worldwide.

    Under Sojitz's "2023 Medium-Term Management Plan", the company aims to take a market-oriented initiative in growing industries, and has developed a downstream gas business in Vietnam in accordance with the plan. This know-how will improve the operation and growth of the Axxela Group and will ultimately aim to provide multiple energy solutions that meet the requirements of individual customers while contributing to CO2 reduction.

    West Africa's abundant gas resources have for decades met the energy requirements of Europe and Asia through LNG exports, with modest growth in regional consumption due to a lack of processing and distribution infrastructure to connect with demand. From the market. Helios and Sojitz together believe that an actionable, economically viable and just energy transition pathway for Africa can be achieved through accelerated construction of gas infrastructure, which would enable the switch from coal and liquid fuels, eliminate gas flaring routine and would support the increased penetration of renewables by complementing their intermittent supply with a reliable and flexible gas-fired power supply.

    Ogbemi Ofuya, Partner at Helios Investment Partners, commented:

    “We feel privileged to enter into this partnership with Sojitz to drive further growth for Axxela's business. This transaction demonstrates the value of our strategy to build strategically important, market-leading businesses that become highly sought after by global investors looking to enter Africa or increase their presence on the continent. Sojitz is a world-class energy infrastructure investor and its investment represents the first Japanese strategic investment in a downstream gas distribution business in Africa. We look forward to working together to accelerate energy access for industrial growth and decarbonization in Africa."

    Masakazu Hashimoto, COO of the Health and Infrastructure Division of Sojitz Corporation, commented:

    “We are pleased to announce this strategic investment in Axxela Group, which opens the door to our entry into a downstream gas market in Africa, where huge growth potential is expected. Africa is the greatest frontier of the 21st century. This transaction embodies our "market-oriented initiative" and "co-creation and sharing methodologies" and begins a partnership between the international reputation fund Helios and Sojitz. We hope that this collaboration will create additional value for Axxela and its stakeholders through disciplined investment while fully addressing ESG issues.”

    Mr. Bolaji Osunsanya, CEO of Axxela Limited, commented:

    “We are delighted to welcome Sojitz to the Axxela family. This represents another first for us as an organization and a great testament to the continued confidence of investors in our business. It also further affirms our position not only as a market leader, but as a trusted partner enabling industrialization throughout Africa. With Sojitz on board, our capacity is stronger and we are better placed to attract the capital needed to continue executing our development-oriented projects."

  •   Eboh and Emmanuel Afonne The Nigerian National Petroleum Company Limited NNPC started the week by congratulating stakeholders in the country s political and industrial sectors for the successful activation of the Petroleum Industry Law PIA 2021 It should be remembered that the law was enacted by Buhari on August 16 as an economic game changer Stakeholders including Akwa Ibom State Governor Mr Udom Emmanuel NNPC Managing Director CEO Malam Mele Kyari and former Seplat Petroleum Managing Director Mr Austin Avuru praised the recently concluded 27th Nigerian Economic Congress Summit NES The summit was a public private dialogue organized by the Economic Summit Group NESG In a virtual presentation Governor Emmanuel applauded President Buhari s timely assent to the PIA saying the law has given a sense of ownership to all stakeholders especially host communities The governor who was represented in the state government SSG Dr Emmanuel Ekuwem said the arrangements for border exploration would help revisit oil wells that had been blocked and improve the economy of the country State For his part the former chief executive of Seplat Petroleum Mr Austin Avuru said the PIA will change the way NNPC operates because it has allowed the company to do business by rules rather than discretion He further noted that the NNPC operating under the Companies and Related Affairs Act CAMA would strengthen the oil industry In his presentation titled PIA 2021 Is a New Day NNPC CEO Malam Mele Kyari gave an overview of the structure of the new NNPC Limited as provided in the PIA Kyari who was represented by the company s financial agent Mr Umar Ajiya said that according to the PIA the NNPC will operate under the CAMA regime declare dividends to its shareholders and keep 20 percent of its profits to develop its activities Minister of State for Petroleum Resources Timipre Sylva and NNPC CEO Malam Mele KyariThe PIA was promulgated to provide legal governmental regulatory and fiscal frameworks as well as guidelines for the development of host communities and other related issues in the upstream middle and downstream sectors of the Nigerian oil industry The law is made up of five chapters 319 articles and 8 annexes Also during the week under review the NNPC said the country s demand for petroleum products is expected to increase by 14 57 percent to 17 3 million metric tons and 15 1 million metric tons in 2020 This projection was made by CEO Mele Kyari on the occasion of the opening of the 15th Africa Downstream Oil Trade and Logistics Week OTL which took place in Lagos In a keynote address at the event Kyari revealed that the country needs around 3 097 billion in investment in condensate refineries to meet expected demand for petroleum products According to Kyari who was represented as executive director downstream NNPC Engr Adeyemi Adetunji NNPC needs 1 6 billion to 2 7 billion to improve the supply and distribution of petroleum products renovate liquefied petroleum gas LPG infrastructure and build gas plants natural compressed CNG in the country Speaking on the theme of the conference Downstream in Transition Getting Set the NNPC coxswain said the country would need a refining capacity of around 1 52 million barrels per day of flux MBPSD to meet its gasoline needs over the next four years He also predicted that the demand for natural gas could increase by about four times over the next decade from 4 8 billion cubic feet per day bcf d in 2020 to between 10 and 23bcf d in 2030 He said the current domestic market supply is around 8 billion cubic feet per day for electricity 0 77 billion cubic feet day for industries and 3 2 billion cubic feet j for export via LNG and the West Africa Gas Pipeline WAGP while about 54 billion cubic feet j was flared According to him the expected growth in demand would come from the increase in the haulage capacity of the existing national electricity grid in accordance with the Presidential Power Initiative large fertilizer projects Dangote Brass and industrial demand for natural gas in the northern axis of the country Regarding the outlook for the global oil market Kyari said Some 10 4 trillion in global stimulus in response to the COVID 19 pandemic has resulted in a rebound in consumer spending while incentives for long term investment term in hydrocarbons had declined Citing recent data from the Petroleum Exporting Countries OPEC Kyari said hydrocarbons will continue to be relevant in the global energy mix over the next two decades He slao cited the OPEC date as saying that global oil demand is expected to drop from a pandemic of 90 6 million barrels per day mbpd in 2020 to 108 2 mbpd in 2045 or 28 of needs global energies OPEC data further indicated that the increase in demand would be due to the global population which is expected to reach 9 5 billion by 2045 and the enormous potential for expanding access to services energy for the underserved He noted that the downstream sector of the Nigerian oil and gas industry was in transition before the adoption of the PIA This he said was in response to global energy transition and decarbonization initiatives Kyari argued that it would be difficult to discuss the transition in the downstream sub sector regardless of the overall developments taking place in the industry adding that NNPC has diversified its portfolio over the years to move to a energy company with new investments in gas electricity and renewable energies He said key pipeline projects are underway to ensure gas delivery to demand nodes noting that the company has also made progress with the Refinery Rehabilitation Program to strengthen its participation in the oil and gas value chain gas Kyari explained that the transition in Nigeria s oil and gas sector was driven by decarbonization efforts to switch to renewable energy in response to environmental concerns As investments in hydrocarbons continued to decline due to the energy transition and geopolitics Kyari said the global economy was facing shortages high energy prices rising inflation and growth sluggish Meanwhile the NNPC has revealed the cost of Route 21 that it plans to rehabilitate as part of the federal government s Road Infrastructure Development and Renovation Tax Credit program in accordance with Presidential Decree 007 of 2019 Following the approval of the Executive Council FEC the NNPC would construct a total of 1 804 6 km of roads at a total cost of N 621 237 143 897 35 six hundred and twenty one billion two hundred and thirty seven million one hundred and forty three thousand eight hundred and ninety seven naira thirty five Kobo The breakdown is set out below in a statement issued by Deen Muhammad Group Managing Director NNPC Group Public Affairs Division S No ZONED KM TO COVER COT BILLION NAIRA 1 Center North 791 10 244 872 518 149 29 2 Northeast 273 35 56 126 741 692 11 3 North West 283 5 23 057 338 426 61 4 South East 122 0 43 281 895 080 04 5 South South 81 9 172 027 737 903 32 6 South West 252 7 81 870 912 645 98 Total 6 zones 1 804 6 km N621 237 143 897 35 The NNPC once again expresses its thanks to the Federal Executive Council for its timely approval of the start of the project and to the Federal Tax Service FIRS for its support Visit us on for more details Source NAN
    NNPC Weekly Review: Stakeholders hail PIA as economic game-changer
      Eboh and Emmanuel Afonne The Nigerian National Petroleum Company Limited NNPC started the week by congratulating stakeholders in the country s political and industrial sectors for the successful activation of the Petroleum Industry Law PIA 2021 It should be remembered that the law was enacted by Buhari on August 16 as an economic game changer Stakeholders including Akwa Ibom State Governor Mr Udom Emmanuel NNPC Managing Director CEO Malam Mele Kyari and former Seplat Petroleum Managing Director Mr Austin Avuru praised the recently concluded 27th Nigerian Economic Congress Summit NES The summit was a public private dialogue organized by the Economic Summit Group NESG In a virtual presentation Governor Emmanuel applauded President Buhari s timely assent to the PIA saying the law has given a sense of ownership to all stakeholders especially host communities The governor who was represented in the state government SSG Dr Emmanuel Ekuwem said the arrangements for border exploration would help revisit oil wells that had been blocked and improve the economy of the country State For his part the former chief executive of Seplat Petroleum Mr Austin Avuru said the PIA will change the way NNPC operates because it has allowed the company to do business by rules rather than discretion He further noted that the NNPC operating under the Companies and Related Affairs Act CAMA would strengthen the oil industry In his presentation titled PIA 2021 Is a New Day NNPC CEO Malam Mele Kyari gave an overview of the structure of the new NNPC Limited as provided in the PIA Kyari who was represented by the company s financial agent Mr Umar Ajiya said that according to the PIA the NNPC will operate under the CAMA regime declare dividends to its shareholders and keep 20 percent of its profits to develop its activities Minister of State for Petroleum Resources Timipre Sylva and NNPC CEO Malam Mele KyariThe PIA was promulgated to provide legal governmental regulatory and fiscal frameworks as well as guidelines for the development of host communities and other related issues in the upstream middle and downstream sectors of the Nigerian oil industry The law is made up of five chapters 319 articles and 8 annexes Also during the week under review the NNPC said the country s demand for petroleum products is expected to increase by 14 57 percent to 17 3 million metric tons and 15 1 million metric tons in 2020 This projection was made by CEO Mele Kyari on the occasion of the opening of the 15th Africa Downstream Oil Trade and Logistics Week OTL which took place in Lagos In a keynote address at the event Kyari revealed that the country needs around 3 097 billion in investment in condensate refineries to meet expected demand for petroleum products According to Kyari who was represented as executive director downstream NNPC Engr Adeyemi Adetunji NNPC needs 1 6 billion to 2 7 billion to improve the supply and distribution of petroleum products renovate liquefied petroleum gas LPG infrastructure and build gas plants natural compressed CNG in the country Speaking on the theme of the conference Downstream in Transition Getting Set the NNPC coxswain said the country would need a refining capacity of around 1 52 million barrels per day of flux MBPSD to meet its gasoline needs over the next four years He also predicted that the demand for natural gas could increase by about four times over the next decade from 4 8 billion cubic feet per day bcf d in 2020 to between 10 and 23bcf d in 2030 He said the current domestic market supply is around 8 billion cubic feet per day for electricity 0 77 billion cubic feet day for industries and 3 2 billion cubic feet j for export via LNG and the West Africa Gas Pipeline WAGP while about 54 billion cubic feet j was flared According to him the expected growth in demand would come from the increase in the haulage capacity of the existing national electricity grid in accordance with the Presidential Power Initiative large fertilizer projects Dangote Brass and industrial demand for natural gas in the northern axis of the country Regarding the outlook for the global oil market Kyari said Some 10 4 trillion in global stimulus in response to the COVID 19 pandemic has resulted in a rebound in consumer spending while incentives for long term investment term in hydrocarbons had declined Citing recent data from the Petroleum Exporting Countries OPEC Kyari said hydrocarbons will continue to be relevant in the global energy mix over the next two decades He slao cited the OPEC date as saying that global oil demand is expected to drop from a pandemic of 90 6 million barrels per day mbpd in 2020 to 108 2 mbpd in 2045 or 28 of needs global energies OPEC data further indicated that the increase in demand would be due to the global population which is expected to reach 9 5 billion by 2045 and the enormous potential for expanding access to services energy for the underserved He noted that the downstream sector of the Nigerian oil and gas industry was in transition before the adoption of the PIA This he said was in response to global energy transition and decarbonization initiatives Kyari argued that it would be difficult to discuss the transition in the downstream sub sector regardless of the overall developments taking place in the industry adding that NNPC has diversified its portfolio over the years to move to a energy company with new investments in gas electricity and renewable energies He said key pipeline projects are underway to ensure gas delivery to demand nodes noting that the company has also made progress with the Refinery Rehabilitation Program to strengthen its participation in the oil and gas value chain gas Kyari explained that the transition in Nigeria s oil and gas sector was driven by decarbonization efforts to switch to renewable energy in response to environmental concerns As investments in hydrocarbons continued to decline due to the energy transition and geopolitics Kyari said the global economy was facing shortages high energy prices rising inflation and growth sluggish Meanwhile the NNPC has revealed the cost of Route 21 that it plans to rehabilitate as part of the federal government s Road Infrastructure Development and Renovation Tax Credit program in accordance with Presidential Decree 007 of 2019 Following the approval of the Executive Council FEC the NNPC would construct a total of 1 804 6 km of roads at a total cost of N 621 237 143 897 35 six hundred and twenty one billion two hundred and thirty seven million one hundred and forty three thousand eight hundred and ninety seven naira thirty five Kobo The breakdown is set out below in a statement issued by Deen Muhammad Group Managing Director NNPC Group Public Affairs Division S No ZONED KM TO COVER COT BILLION NAIRA 1 Center North 791 10 244 872 518 149 29 2 Northeast 273 35 56 126 741 692 11 3 North West 283 5 23 057 338 426 61 4 South East 122 0 43 281 895 080 04 5 South South 81 9 172 027 737 903 32 6 South West 252 7 81 870 912 645 98 Total 6 zones 1 804 6 km N621 237 143 897 35 The NNPC once again expresses its thanks to the Federal Executive Council for its timely approval of the start of the project and to the Federal Tax Service FIRS for its support Visit us on for more details Source NAN
    NNPC Weekly Review: Stakeholders hail PIA as economic game-changer
    General news1 year ago

    NNPC Weekly Review: Stakeholders hail PIA as economic game-changer

    -Eboh and Emmanuel Afonne

    The Nigerian National Petroleum Company Limited (NNPC) started the week by congratulating stakeholders in the country's political and industrial sectors for the successful activation of the Petroleum Industry Law (PIA 2021).

    It should be remembered that the law was enacted by Buhari on August 16, as an economic game changer.

    Stakeholders, including Akwa Ibom State Governor Mr. Udom Emmanuel, NNPC Managing Director (CEO) Malam Mele Kyari, and former Seplat Petroleum Managing Director, Mr. Austin Avuru, praised the recently concluded 27th Nigerian Economic Congress. Summit (NES).

    The summit was a public-private dialogue organized by the Economic Summit Group (NESG).

    In a virtual presentation, Governor Emmanuel applauded President Buhari's timely assent to the PIA, saying the law has given a sense of ownership to all stakeholders, especially host communities.

    The governor who was represented in the state government (SSG), Dr Emmanuel Ekuwem, said the arrangements for border exploration would help revisit oil wells that had been blocked and improve the economy of the country. State.

    For his part, the former chief executive of Seplat Petroleum, Mr. Austin Avuru, said the PIA will change the way NNPC operates because it has allowed the company to do business by rules rather than discretion.

    He further noted that the NNPC operating under the Companies and Related Affairs Act (CAMA) would strengthen the oil industry.

    In his presentation titled: “PIA 2021 Is a New Day”, NNPC CEO Malam Mele Kyari gave an overview of the structure of the new NNPC Limited as provided in the PIA.

    Kyari, who was represented by the company's financial agent Mr. Umar Ajiya, said that according to the PIA, the NNPC will operate under the CAMA regime, declare dividends to its shareholders and keep 20 percent of its profits. to develop its activities.

    Minister of State for Petroleum Resources, Timipre Sylva and NNPC, CEO, Malam Mele Kyari

    The PIA was promulgated to provide legal, governmental, regulatory and fiscal frameworks as well as guidelines for the development of host communities and other related issues in the upstream, middle and downstream sectors of the Nigerian oil industry. .

    The law is made up of five chapters, 319 articles and 8 annexes.

    Also during the week under review, the NNPC said the country's demand for petroleum products is expected to increase by 14.57 percent to 17.3 million metric tons and 15.1 million metric tons in 2020.

    This projection was made by CEO Mele Kyari on the occasion of the opening of the 15th Africa Downstream Oil Trade and Logistics Week (OTL) which took place in Lagos.

    In a keynote address at the event, Kyari revealed that the country needs around $ 3.097 billion in investment in condensate refineries to meet expected demand for petroleum products.

    According to Kyari who was represented as executive director, downstream, NNPC, Engr. Adeyemi Adetunji, NNPC needs $ 1.6 billion to $ 2.7 billion to improve the supply and distribution of petroleum products, renovate liquefied petroleum gas (LPG) infrastructure and build gas plants natural compressed (CNG) in the country.

    Speaking on the theme of the conference "Downstream in Transition: Getting Set", the NNPC coxswain said the country would need a refining capacity of around 1.52 million barrels per day of flux ( MBPSD) to meet its gasoline needs over the next four years.

    He also predicted that the demand for natural gas could increase by about four times over the next decade, from 4.8 billion cubic feet per day (bcf / d) in 2020 to between 10 and 23bcf / d in 2030.

    He said the current domestic market supply is around 8 billion cubic feet per day for electricity, 0.77 billion cubic feet / day for industries and 3.2 billion cubic feet / j for export via LNG and the West Africa Gas Pipeline (WAGP), while about 54 billion cubic feet / j was flared.

    According to him, the expected growth in demand would come from the increase in the haulage capacity of the existing national electricity grid in accordance with the Presidential Power Initiative, large fertilizer projects (Dangote, Brass) and industrial demand for natural gas. in the northern axis of the country.

    Regarding the outlook for the global oil market, Kyari said, “Some $ 10.4 trillion in global stimulus in response to the COVID-19 pandemic has resulted in a rebound in consumer spending while incentives for long-term investment term in hydrocarbons had declined. "

    Citing recent data from the Petroleum Exporting Countries (OPEC), Kyari said hydrocarbons will continue to be relevant in the global energy mix over the next two decades.

    He slao cited the OPEC date as saying that global oil demand is expected to drop from a pandemic of 90.6 million barrels per day (mbpd) in 2020 to 108.2 mbpd in 2045, or 28% of needs. global energies.

    OPEC data further indicated that the increase in demand would be due to the global population, which is expected to reach 9.5 billion by 2045, and the enormous potential for expanding access to services. energy for the underserved.

    He noted that the downstream sector of the Nigerian oil and gas industry was in transition before the adoption of the PIA.

    This, he said, was in response to global energy transition and decarbonization initiatives.

    Kyari argued that it would be difficult to discuss the transition in the downstream sub-sector regardless of the overall developments taking place in the industry, adding that NNPC has diversified its portfolio over the years to move to a energy company with new investments in gas, electricity and renewable energies.

    He said key pipeline projects are underway to ensure gas delivery to demand nodes, noting that the company has also made progress with the Refinery Rehabilitation Program to strengthen its participation in the oil and gas value chain. gas.

    Kyari explained that the transition in Nigeria's oil and gas sector was driven by decarbonization efforts to switch to renewable energy in response to environmental concerns.

    As investments in hydrocarbons continued to decline due to the energy transition and geopolitics, Kyari said the global economy was facing shortages, high energy prices, rising inflation and growth. sluggish.

    Meanwhile, the NNPC has revealed the cost of Route 21 that it plans to rehabilitate as part of the federal government's Road Infrastructure Development and Renovation Tax Credit program in accordance with Presidential Decree 007 of 2019.

    Following the approval of the Executive Council (FEC), the NNPC would construct a total of 1,804.6 km of roads at a total cost of N 621,237,143,897.35 (six hundred and twenty-one billion, two hundred and thirty-seven million , one hundred and forty three thousand, eight hundred and ninety-seven naira, thirty-five Kobo).

    The breakdown is set out below in a statement issued by Deen Muhammad, Group Managing Director, NNPC Group Public Affairs Division.

    S / NoZONEDKM TO COVERCOT (BILLION NAIRA)
    1.Center-North791.10244 872 518 149.29
    2.Northeast273.3556,126,741,692.11
    3.North West283.523 057 338 426.61
    4.South East122.043,281,895,080.04
    5.South South81.9172 027 737 903.32
    6.South West252.781 870 912 645.98
    Total6 zones1,804.6 kmN621.237.143.897.35

    The NNPC once again expresses its thanks to the Federal Executive Council for its timely approval of the start of the project and to the Federal Tax Service (FIRS) for its support.

    Visit us on for more details.

    Source: NAN

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