Energy
NDEP unveils Aradel Holdings Plc as new name
By Akinyemi Precious
The Niger Delta Exploration and Production has Unveiled its new name and now bears Aradel Holdings.
This was revealed at its Unveiling which took place at Eko Hotels and Suites, Lagos State on Friday.
The new name was influenced by the heritage,founder’s legacy and the future Industry path with reference to Founding father Aret Adams and Niger Delta, the foundation of the company.
According to the management, the decision to change the Company’s name underscores the commitment to repositioning the company as a leading African company, dedicated to providing sustainable energy solutions that drive economic growth now and in the foreseeable future.
“Over the years, our business has evolved significantly, and we have successfully expanded our presence across the entire value chain of the oil and gas industry, including renewable energy.
“The new brand, Aradel Holdings Plc, not only represents our present endeavours but also encompasses our future aspirations.”
Through its new brand identity, NDEP aims to better reflect its current, future portfolio, and its long-term strategy to become the leading African company delivering sustainable energy solutions that support economic growth.
Also, it is a part of the strategic rebranding initiative aimed at better reflecting the Company’s current portfolio and positioning it for future growth.
The firm was Incorporated in March 25th, 1992 originally as the Midas Drilling Fund before assuming the name Niger Delta Exploration and Production Plc (NDEP) in November 1996.
This marks a significant milestone in the company’s 30-year history of accountability, resilience, adaptability, diversity, excellence, and leadership.
NDEP is a fully integrated energy group with interests in multiple oil and gas assets and its business across the upstream, midstream and downstream value chain of the oil and gas industry.
While speaking at the event, the Chief Executive Officer, Aradel Holdings Plc, Adegbite Falade who quoted Abraham Lincoln and Eleanor Roosevelt emphasised that the best way to predict the future is to create it and that the future belongs to those who believe in the beauty of their dreams made it known that Aradel Holdings had many transformations to offer.
He noted that Aradel Holdings Plc plans to be the first privately owned modular refinery in the refining of PMS as well as many other expansions to be made.
“Our consistent growth is attributable to our Innovation and adaptability which continue to propel us as industry pioneers who consistently deliver value to our stakeholders.
“Our relentless pursuit of operational excellence, profitability, cutting edge technologies, strategic partnerships, and unwavering safety standards ensure that we consistently surpass expectations.
“Together, let us fuel growth, foster collaboration, and lead the way toward a sustainable energy future.”
However,the Chairman of Aradel Holdings, Ladi Jadesimi traced the history of the firm, noting that it had operated in the past three decades and pioneered several initiatives, including marginal field operations, one of which is the Okpele Field, which it has grown the daily production from about 1,000 barrels of crude oil per day to 13,000 barrels.
The company is also a fully integrated oil and gas company, and also pioneered modular refinery initiatives with the first train of 1,000 barrels per day, which has since expanded to 11,000 barrels per day.
Speaking virtually at the ceremony marking the rebranding of the Niger Delta Exploration and Production, NDEP, into Aradel Holdings, the Executive Secretary, Nigerian Content Development and Monitoring Board,Simbi Wabote has said that Indigenous Oil and Gas companies must instill principles of corporate governance in their operations if they are to grow and achieve sustainability.
He lauded the management of Aradel Holdings for setting high standards of corporate governance.
“One of the incredible things the Chairman, Ladi Jadesimi; the former Managing Director, Layi Fatona and their team have done is instilling the spirit of corporate government, that is why the company is succeeding the owners of the business are not contractors; they do not engage contractors and they do not engage in round tripping, that has led to their success,”he said.
Speaking further, Wabote described Aradel Holdings as a good example, noting that they have made significant returns to their joint venture partners.
“They are one of the local companies that NNPC Limited is proud to associate with. NCDMD is also proud of their success and we will continue to support them,” he assured.
Dwelling on local content development, Wabote challenged Aradel Holdings to champion the development of local content, stressing that the implementation of the Nigerian Content initiative and the Nigerian Oil and Gas Industry Content Development, NOGICD, Act enabled indigenous producers to exist and thrive.
He insisted that it is the responsibility of Aradel Holdings and other local producers to support local content, protect and enhance it, with a view to creating jobs, growing technology, and developing the nation’s natural resources.
Energy
Synergy, commitment crucial to clean energy transition, sustainability in Africa — CEO, Egbin Power
As carbon emissions reduction and energy security remain a crucial focus in the global sustainability agenda, shared commitment, synergy and decisive actions are the cornerstone of accelerating the transition to cleaner energy and achieving a sustainable environment.
Having analysed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and land use, transportation, industry and others, the Chief Executive Officer, Egbin Power, Mokhtar Bounour, charged for synergy and renewed commitment among stakeholders.
He made this known at the maiden edition of Asharami Square, a Sahara Group initiative aimed at amplifying the discourse on sustainability through impactful media advocacy.
While highlighting Egbin Power’s unwavering commitment to reducing carbon emissions and promoting sustainable energy sources, Bounour further stressed the need for deepened engagement and advocacy to further prioritise sustainability.
Bounour outlined Egbin Power’s comprehensive approach to sustainability, which includes an array of pragmatic initiatives such as obsolescence management, asset upgrades, energy efficiency improvement, sustainability and environmental impact management, and fugitive emissions minimization.
These programs are strategically designed to effectively address carbon emissions and promote cleaner energy initiatives.
According to him, Egbin Power drives sustainability through afforestation, adoption and enforcement of ANSI Lighting Design Standards for the Egbin built environment, a gradual switch from Internal Combustion Engines (ICEs) to Compressed Natural Gas (CNG) and the integration of Electric Vehicles (EVs) into the company’s operations, among other interventions.
“These actions demonstrate Egbin Power’s commitment to thinking globally and acting locally, ensuring that deliberate and impactful steps are taken to promote sustainability and environmental consciousness actively.
“As a responsible organisation Egbin Power is steadfast in its commitment to promoting sustainability.
“Our roadmap and initiatives are designed to align with global sustainable development goals and to ensure that we contribute to a cleaner and more sustainable energy landscape in Africa.
“Our pragmatic initiatives which include obsolescence management, asset upgrades and overhauls, energy efficiency improvement, sustainability and environmental impact management, and fugitive emissions minimization as part of programs designed to address carbon emissions.
“We are committed to treating the environment with the utmost care, knowing well that every activity we engage in – either as an individual or collectively as an organisation has an impact on the ecosystem,” Bounour explained.
By Esther Agbo
NNPC Retail Limited has swiftly responded to allegations circulating on social media regarding coercive practices at one of its filling stations.
A video clip surfaced on social media, X (formerly Twitter) precisely, purportedly showing customers being pressured to purchase lubricants or engine oil in order to obtain Premium Motor Spirit (PMS), commonly known as petrol. The attendant in the video claimed that this directive originated from NNPC Retail Management.
In a statement issued, NNPC Retail categorically refuted the allegations, asserting that such practices are entirely false and do not align with the company’s Customer Service Charter. According to NNPC Retail, customers visiting any of their filling stations are under no obligation to purchase additional products as a condition for buying petrol.
Managing Director of NNPC Retail Ltd, Mr. Huub Stokman, emphasised the company’s commitment to transparent and quality service delivery.
He stated, “We are dedicated to providing clear, transparent and quality service to all our customers, guaranteeing that their needs are met without any recourse to unnecessary and unscrupulous conditionalities.”
In response to the incident, NNPC Retail Limited has initiated an investigation to ascertain the facts surrounding the video. The company has assured the public that appropriate disciplinary measures will be taken against any individuals found responsible for misconduct.
“The public is hereby advised to disregard the information in its entirety and report any such occurrences to the appropriate authority.
“In the meantime, NNPC Retail Limited has launched an investigation into the unfortunate incident and assures that appropriate disciplinary action will be taken against the culprit (s).”
In line with the Electricity Act 2023, the Nigerian Electricity Regulatory Commission, NERC, issued an order transferring regulatory oversight of the electricity market in Imo to the Imo State Electricity Regulatory Commission.
This was contained in a recent order signed by NERC Chairman Sanusi Garba.
The order shall take effect on July 1, 2024.
The implication is that Imo State will be responsible for the complete regulation of its electricity market.
The order stated: “Section 230 (3) of the Act mandates the commission to develop a transition plan and timeline for the transfer of regulatory oversight of the intrastate electricity market from NERC to ISERC upon receipt of formal notification from the State
“EEDC shall complete the incorporation of EEDC SubCo within 60 days from the effective date of this Order and, EEDC SubCo shall apply for and obtain a licence for the intrastate supply and distribution of electricity from ISERC.
“EEDC shall identify the actual geographic boundaries of Imo State and carve out its network in Imo State as a standalone network with the installation of boundary meters at all border points where the network crosses from Imo State into another state.”
With the development, Imo becomes the fourth state to get electricity regulatory authority after Enugu, Ondo and Ekiti states.
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