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Nigeria’s crude oil production averaged 1.183mbpd in July – OPEC

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The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.183 million barrels per day (bpd) in July 2022.

OPEC made this known in its Oil Market Report for August 2022, which was made available to the press yesterday.

The report says the figure showed an increase of 7,000 barrels per day when compared with 1.176mb/d produced averagely in the month of June 2022.

“According to secondary sources, averaged 28.92 mb/d in July 2022, higher by 216,000 barrels per day month-on-month.

“Crude oil output increased mainly in Saudi Arabia, the United Arab Emirates, and Kuwait, while production in Venezuela and Angola declined,” it said.

The report says Nigeria’s July Stanbic IBTC Bank Purchasing Manger’s Index rose to 53.2 from 50.9 in June, amid stronger inflows of new orders.

It says this helped to underpin a further improvement in operating conditions in the Nigerian non-oil private sector.

“Yet, purchase and output price inflation accelerated for the fifth straight month to 18.6 per cent in June 2022, against 17.7 per cent in May, amid unfavourable exchange rate movements and higher fuel costs.

“Nevertheless, business sentiment improved as firms reported hopes of securing greater business investments,” the report added.

Energy

Minister of Power inaugurates five projects under Presidential Power Initiative

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The Minister of Power, Chief Adebayo Adelabu, has inaugurated five projects, located in Okene, Kogi State, Amukpe, Delta State, Potiskum, Yobe State, Apo in Abuja, and Ihovbor, Edo State, under the phase one of the Presidential Power Initiative (PPI).

The phase one of the PPI is targeted at increasing Nigeria’s wheeling capacity by 272 megawatts, thus culminating in a more robust delivery of electricity to consumers across the nation.

Speaking at the commissioning of the 60MVA Power Transformer yesterday, the Minister of Power, Chief Adebayo Adelabu, said: “Concurrently, we are remotely inaugurating four additional sites, namely Amukpe in Delta State, Potiskum in Yobe State, Apo in Abuja, and Ihvobor in Edo State.

“This is why we commend the strides that have been made by the FGN Power Company under the Presidential Power Initiative. In particular, the partnership that has been forged with the German government and Siemens Energy which led to the production and installation of these world-class equipment we are commissioning today.

“PPI, I must note, is a strategic and systematic approach to solving Nigeria’s perennial problems of unreliable and inadequate electricity supply. I am delighted that with the German Government’s partnership with the Federal Government of Nigeria on the execution of the PPI, we will be able to deliver reliable power supply to the entire country. Mr. President has mandated that we accelerate our Agreement with Siemens Energy, and we are currently finalizing the scope of that work with all stakeholders.”

Similarly, the Managing director/CEO, FGN Power Company, Mr. Kenny Anuwe, said: “Today marks yet another historic day in the journey of our beloved country, Nigeria and the Presidential Power Initiative (PPI). The inauguration of four other sites, which include Amukpe in Delta State, Potiskum in Yobe State, Apo in Abuja and Ihovbor in Edo State, will collectively boost the transmission wheeling capacity by 272MW for onward delivery to electricity consumers. These signify a pivotal step forward in the revitalization of the power sector, serving as a masterstroke that will profoundly impact our industrial, social, and commercial life as a nation.

“The PPI has embarked on a noteworthy initiative by deploying Ten (10) Power Transformers and Ten (10) Mobile Substations across Nigeria. This strategic move will augment the transmission wheeling capacity, a pivotal component of the current administration’s concerted efforts to expeditiously deliver enhanced power supply. Importantly, the deployment of these devices underscores our steadfast dedication to advancing improved electricity access for the people of Nigeria.

“Let me at this point express my profound gratitude to the President and Commander-in-Chief of the Nigerian Armed Forces, His Excellency, Ashiwaju Bola Ahmed Tinubu, for his single-minded determination to continue the pursuit of improved power supply for Nigerians, as initiated by his predecessor, former President Muhammadu Buhari.

“I extend my gratitude to the Honourable Minister of Power for your exemplary leadership and dedication to fulfilling the mandate of the PPI. Special thanks are also due to the former Governor of Kogi state, Yahaya Bello and the incumbent Governor of the State His Excellency, Ahmed Usman Ododo for your invaluable support during the project implementation in Okene, which has made the commissioning of this project a reality.

“We acknowledge the importance of improved power supply towards the attainment of the present administration’s Renewed Hope agenda and assure Mr. President of our determination to provide all necessary leverage towards the attainment of his administration’s national objective.”

He said: “When, on August 31, 2018, the Federal Government of Nigeria established the Presidential Power Initiative (PPI), the underlying objective was to coordinate the partnerships and secure financing for the project that would improve the country’s power transmission, distribution, and generation capacity for the benefit of Nigerian households and businesses.

“Through hard work and driven by an immeasurable sense of patriotism, the Nigerian government was able to reach an agreement with the German government, resulting in Siemens Energy’s emergence as the implementation partner to deliver on PPI’s mandate to modernize and revamp infastuctures in the power sector .

“Partnering with the German Government, Siemens A.G and Siemens Energy, we were able to set for ourselves and our dear country Nigeria, the ambitious task of boosting power supply from an estimated 4,000 megawatts to 25,000 megawatts.

“We are aware of the country’s economic and social potentials and needs. Therefore, FGN Power Company, through the PPI, has laid plans for an even distribution of power infrastructure across all the geopolitical and potential economic power zones of the country.

“This is why this commissioning of the power transformer in Okene, Kogi State is important. We strongly believe that with improved power supply in Kogi State as well as in other parts of North Central Nigeria, investments in agriculture and food processing will begin to spiral, and with that, there will be spontaneous personal, regional, and national economic growth.”

He added: “This administration is setting the course towards economic development, and access to energy is the foundation for job creation and economic growth. I am happy to announce that with our partnership with Siemens Energy, we have been able to create more jobs while also delivering capacity building in the area of power sector engineering for Nigerian engineers.”

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Lokpobiri inaugurates NCDMB Governing Council

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The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri on Thursday in Abuja inaugurated the 4th Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB).

The NCDMB Governing Council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership from representatives of select institutions connected with the oil and gas industry.

Members of the new NCDMB Council were first announced by President Bola Tinubu on December 7, 2023, and they would be chaired by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, while the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, would serve as the Secretary of the Council.

Other members include the Executive Vice President, Gas, Power, and New Energy, Nigerian National Petroleum Company Ltd, Mrs. Oritsemyiwa Eyesan, the Chief Executive Officer of the Nigerian Upstream Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, the representative of the Ministry of Petroleum Resources, Mrs. Bekearedebo Augusta Warrens and the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr. Nicholas Odinuwe.

Others include the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olorundare Sunday Thomas, Chairman of the Council for the Regulation of Engineering (COREN), Prof. Sadiq Abubakar and the representative of the Nigerian Content Consultative Forum (NCCF), Dr. Raphael Samuel.

In his remarks, the Minister congratulated the members of the Governing Council on their nomination, noting that it was based on their expertise and experience in various fields of endeavour. He explained that the NOGICD Act provided for institutional representation on the Governing Council, to enable the agency to benefit from the expertise and professionalism of key organisations and change the narrative in the oil and gas industry.

He confirmed that NCDMB had recorded tremendous achievements in the oil and gas industry in the last 13 years of its existence and had achieved many of the set objectives. He solicited the cooperation of the new Council members to raise the bar of Nigerian Content development.

He added that many African countries are coming to understudy Nigeria’s Local Content model and it was incumbent on Nigeria to deepen the level of implementation and stay ahead of other nations.

Speaking further, the Minister stated that one of the core mandates of the NCDMB is to build indigenous human and infrastructural capacities so that Nigerians can play critical roles in the oil and gas industry.

He highlighted that NCDMB was one of the few agencies chaired by the Minister, attributing it to the importance of the organisation to the national economy. He also mentioned that section 75 of the NOGICD Act mandates the Governing Council to manage and superintend the affairs of the Board among other duties.    

Responding on behalf of the newly constituted council, the Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas thanked the Minister for the nomination and promised to uphold the confidence reposed in them. He affirmed that NCDMB has performed creditably, and Nigerian Content implementation had become the envy of many countries.

He said, “A lot of value has been added to the oil and gas industry and the Nigerian economy and I thank those who originated the NOGICD Act. We will do our best and we will continue the good work started by the NCDMB.”

In his comments, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe promised to work closely with all the members of the Governing Council to take the Board to greater heights.

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Techno Oil bags NIES Energy Downstream recognition award

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Techno Oil Group has been awarded the Energy Downstream Recognition Award at the Nigeria International Energy Summit (NIES), the latest honour for the company in its pioneering strides in Nigeria’s energy sector.

The company has won a string of awards since 1998 when it opened shop in Nigeria’s crowded downstream sector.

Receiving the award on behalf of the company, Mrs. Nkechi Obi, the Group Managing Director and Chief Executive Officer of Techno Oil, described the latest award as delightful and a great honour for the company.

 ”We are extremely honored and humbled to receive the 2024 NIES Energy Downstream Recognition Award.

“Nothing compares with the joy of working so hard and being recognized with an award,” Obi told reporters on the sidelines of the award ceremony at Abuja’s Presidential Villa, Nigeria’s seat of power.

The NIES Energy Downstream Recognition Award is given annually in recognition of excellence among captains of industry and companies that have made extraordinary impact in the downstream of the energy industry.

“We are grateful to the Federal Ministry of Petroleum Resources and the brains behind the award, especially Mr. Brevity Anderson for the recognition of our role in the industry.”

Obi dedicated the award to the management and staff of the company for their professionalism, tenacity, hard work and loyalty – the virtues that make the company shine from year to year.

She recalled the humble beginning of the company, selling and marketing ESSO brand of lubricants as exclusive franchise holder in 1988 growing and growing steadily into a formidable firm.

According to her, Techno Oil has made a giant leap by setting up a 10,000 Metric Tons Lubricant Blending and Manufacturing Plant with state-of-the-art Quality Assurance Laboratory for its own brand of ISO-certified lubricants.

Obi said that the group is now an integrated, wholly indigenous company with diverse portfolios of prime investments in oil and gas, energy, infrastructure and manufacturing focusing on positioning itself as Nigeria’s leading service provider in the energy sector.

She said that the group also operates a 65,000 Metric-Ton Fuel Terminal Facility, where all fuels marketed by the group are received, stored and eventually distributed.

The terminal is equipped with a 200-metre two-finger jetty that aids receipts of petroleum products through coastal supplies from refineries across the world. The group is also a major supplier of Diesel, Petrol, Gas Oil, Marine Gas Oil, Marine Fuel Oil, Kerosene, Propane, Butane and Fuel Oil in Nigeria.

In line with the Federal Government’s National LPG Expansion Policy Framework, aimed at deepening the adoption of LPG, Techno Oil Group established 8,400 Metric Ton of LPG Coastal Storage Terminal with capacity to load out 6,000 metric tons, an equivalent of 300 trucks of 20 metric ton load daily.

In addition, it has LPG Bottling and Filling Plants and LPG Skids across the country, with a combined capacity of 2,000 Metric Tons responsible for the daily refill and distribution of over 24,000 bottles of LPG cylinders for both domestic and commercial users.

Techno Oil has also established a fully-automated ultra-modern LPG Cylinder Manufacturing Plant, West Africa’s Largest LPG Cylinder Manufacturing Plant, with an annual installed production capacity of over five million pieces of LPG cylinders and a state-of-the-art laboratory and modern testing equipment to ensure quality and safety.

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