Connect with us

Energy

Seplat Energy wins gas infrastructure project of the year award at NIES 2024

Published

on

Seplat Energy Plc has won the coveted award of the Gas Infrastructure Project of the Year.

The award was received by Mr. Okon on behalf of the management and staff of the Company at the recently concluded 2024 Nigeria International Energy Summit (NIES) held in Abuja.

Making a case for gas development in Nigeria, Seplat Energy Plc, the energy company said gas development is a clear solution to Nigeria’s immediate problems and remains a longer-term transition fuel.

The Director New Energy at Seplat Energy, Mr. Effiong Okon, said this whilst delivering Keynote during the Gas Stakeholders Conversation panel session at the conference.

“Increasing the supply of reliable, affordable and sustainable energy is Nigeria’s greatest challenge; but clearly gas is the logical transition fuel we need to realise this,” Okon said.

He linked gas development to power, Liquefied Natural Gas (LNG) export, Compressed Natural Gas (CNG) production, fertilizer production, Liquefied Petroleum Gas (LPG) production, and building materials production, among others.

He added, “Today we have acute housing and infrastructure shortage, but no commercially viable substitute for production of building materials e.g. cement, glass, steel; about 90,000 deaths per year due to biomass cooking; and rising population presents urgent need to improve agricultural production. We can fund all of the above with gas.

“We can also reduce reliance on petrol, increase and decarbonise domestic transport fuel if we leverage on gas. Of course, these would in turn strengthen our focus on sustainability.”

According to the IEA Global Energy Outlook 2022, natural gas production in Africa is expected to grow by 15 per cent between 2020 and 2030, driven mainly by new projects in Egypt, Nigeria and Mozambique.

Okon stressed that the Nigerian energy industry must focus on end-to-end solutions to unlock the full value of Nigeria’s gas, noting that exploration, production, gas processing and delivery of gas to the last mile remain germane to maximising the dividends of the resource.

For a sustainable gas development programme in Nigeria, the Seplat New Energy Director emphasised the need for bankability and access to low-cost capital; use of technology, Internet of Things (IoT) and smart metering to reduce Aggregate Technical Commercial and Collection (ATC&C) losses; and technology-enabled revenue delivery opportunities to aid fund collection.

Energy

Fuel scarcity: Queues will dissappear by Wednesday – NNPC

Published

on

…Border residents stranded as petrol hits N1,000 per litre

The Nigerian National Petroleum Company (NNPC) Limited has informed the public that the current fuel shortages and the accompanying queues will be resolved by Wednesday.

The Chief Communications Officer at NNPCL, Olufemi Soneye shared this information with journalists on Tuesday in Lagos.

He stated that the company has more than 1.5 billion litres of fuel in stock, sufficient to last for at least 30 days.

“Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

“Some folks are taking advantage of this situation to maximise profits.

“Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain.

“The lines will be cleared out between today and tomorrow,” Soneye assured.

Similarly,  the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, has expressed optimism that the fuel queues in Lagos and Ogun will diminish this week, based on assurances from the NNPC.

However, Fashola noted that the queues in Abuja might persist longer because of the distance from Lagos.

“The information available to us from the NNPC Ltd was that there was a logistics problem, and when that happens, it will disrupt the supply chain.

“That might be a delay in the movement of ships from the mother vessel to the daughter vessel before it gets to the depot tanks.

“Before we can correct that, surely it will take some days. I think by Tuesday or Wednesday, there will be more products available for lifting by marketers.

“It might take time before it can ease off in Abuja, considering the distance to Lagos and the bad roads, Lagos might be calm this new week,” Fashola said.

Meanwhile residents of Badagry, Lagos were stranded on Tuesday as most commercial vehicles plying the area were off the road due to scarcity of Premium Motor Spirit (PMS), otherwise called petrol.

Correspondent, who monitored the situation, reports that many workers and businessmen were sighted waiting endlessly at some bus stops due to unavailability of vehicles.

The situation led to a hike in transport fare as a litre of petrol in the area now sells as high as N1,000, while fare rose from N800 to N1,500 from Badagry to Mile 2.

At some popular bus stations in Badagry – Aradagun, Mowo and Agemowo, scores of residents were seen struggling to enter a few available taxis and commercial buses.

Mr Johnson Afilaka, a Badagry resident, said he could not go to work on Monday due to an increase in transport fare from Badagry to Mile 2.

“Today, we queued up for buses, but none came. A few taxis that came raised their fares so high.

“Government should come to our aid in Badagry by providing some of the Lagos BRT buses for us here,” he said.

Mrs Christiana Adigun, a staff of the National Population Commission (NPC), said she could not drive to her office due to difficulty in getting petrol for her car.

She said that in spite of the fact that she was willing to buy a litre at N1,000, it was difficult to get the product, adding that getting a commercial vehicle to her office also posed another challenge.

On sales of petrol in Badagry, only the NNPC fuel station at Aradagun and Mobil fuel station in Badagry were selling at official prices of N568 and N610 respectively.

However, other independent marketers with fuel stations were selling between N950 and N1,000 per litre.

Mr Friday Ajasa, a motorist, said his car had been on the queue at NNPC Aradagun since 7.00.a.m, adding that as at 12.00.noon, he was yet to get the product.

“When we blame the government for the scarcity, we should as well blame petrol marketers in Badagry for the hike because they are not helping the situation.

“Some of the cars on queue at the fuel stations in Badagry belong to cross- border illegal petrol dealers who usually take the product to Benin Republic to re-sell.

“Most of the major marketers here prefer to sell to them rather than sell to residents and this is the height of unpatriotic conduct.

“When these people enter, they buy up to 350 litres of petrol inside one car, and for us who just wanted 15 litres in our vehicles, they will tell you that petrol has finished,” he said.

Mrs Funke Alabi, a motorist on queue at Mobil filling station, called on security agents to check excesses of petrol pump attendants in the area.

Explaining the reason for petrol scarcity, Alhaji Abdul-Ganiyu Adelani, the Chairman, Independent Petroleum Marketers, Badagry, blamed the scarcity on lack of product at NNPC tank farm.

Adelani urged the NNPC to make available more petrol in their tank farms so that all filling stations in Lagos and other parts of Nigeria would get enough supply.

Continue Reading

Energy

Fuel scarcity: NMDPRA warns marketers against hoarding

Published

on

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Osun has warned petroleum marketers in the state against hoarding.

The agency also warned residents of the state against panic buying, hoarding and storing of petroleum products at home.

The State Coordinator of NMDPRA, Mr Adekunle Adeyemo gave the warning while speaking with journalists on Monday in Osogbo.

Adeyemo said that the surveillance team of the agency would be all out to ensure that no filling stations hoard the product.

He said that any marketers caught hoarding the fuel or engaging in any form of sharp practices would be dealt with in accordance with the dictates of the law.

Adeyemo promised that the agency would intensify its monitoring and surveillance of outlets in line with its regulatory mandate to ensure compliance with quality, quantity and safety of operations.

According to him, the government is doing everything possible to ensure adequate availability of the product, and it will be unfair for independent marketers who have the product in stock to be hoarding it.

“We want to appeal to independent marketers who have petroleum products in stock to stop hoarding.

“It will be inhuman for those who have the product to be hoarding and inflating the pump price.

“The surveillance team of the agency is already out to ensure that those who have the product are dispensing it to motorists at a reasonable price.

“However, any filling station caught hoarding the product with the view of inflicting pains on the masses will not be spared.

“Yes, there might be a little challenge in the supply process, but relevant government agencies are doing everything possible to ensure that the situation is normalised.

“We will not fold our hands while some few individuals will inflict undue pain on the residents of the state by hoarding the products,” he said.

Adeyemo appealed to petroleum marketers to always adhere strictly to standard safety practices in their filling stations.

He warned that any marketer that violates the standard procedure would be dealt with according to the law.

Adeyemo also appealed to consumers to report sharp practices such as under-dispensing, to the agency for appropriate action.

The NMDPRA boss also warned against storing petroleum products at homes, adding that such can cause a fire outbreak.

He said that people needed to be very careful with how they handle petroleum products.

“Storing of petroleum products at home can result in a fire outbreak, which can lead to the destruction of lives and property.

“We have to be wise, there’s no reason for panic buying or hoarding of the product because the government is doing everything possible towards adequate supply of the product,” he said.

Continue Reading

Energy

Students issue 48-hour ultimatum to FG to address fuel scarcity

Published

on

By Ismail Azeez, Osogbo

Students of the Obafemi Awolowo University, Ile-Ife have issued a 48-hour ultimatum to the government to address worsening fuel scarcity, threatening to hit the streets if the government fails to regulate prices.

The ultimatum was contained in a statement signed by the Obafemi Awolowo University Union President,  Abbas Akinremi and obtained by our correspondent on Monday.

The students demanded the revival of the country’s four refineries.

The Union demanded immediate action from the government to curb hoarding practices, and regulate prices.

Akinremi said that they will not hesitate to hit the streets if the government fails to address the fuel crisis which constitutes a threat to their academic pursuit.

According to the statement, “The current plight of students due to the surge in fuel prices and the unavailability of petrol for efficient transportation has reached unprecedented levels. We, as students, can no longer endure the burden imposed by the government’s neo-classical economic policies.

“Last year, when the decision to eliminate fuel subsidies became public knowledge, many, including students, harbored doubts about its impact on the nation’s economy. Even those who supported the removal of subsidies were skeptical, given the absence of concrete plans to alleviate the ensuing challenges.

“Since then, Nigerians, especially students, have been grappling with harsh economic realities. From soaring electricity tariffs to the skyrocketing cost of living; the adverse effects of the government’s capitalist policies have spared no one.

“Despite these challenges, students persist in their pursuit of education and academic endeavors. However, recent events such as fuel shortages and fluctuating prices have left students stranded both on campus and in town.

“And, it has also made students gnash their teeth in excruciating pain because the artificial increase in the price of PMS has affected goods. Despite our pleas, the government has turned a deaf ear. As students, we refuse to accept policies that suffocate us.

“As students of Obafemi Awolowo University, the recent fuel scarcity which is so evident in Ile-Ife town and its environs has rendered us immobile. Public transportation services to campus and even within town are disrupted due to fuel shortages, while fuel stations exploit the situation by unjustly hiking prices. Students bear the brunt of these issues directly, pushing us to our limits.

“We, the students of Obafemi Awolowo University, have been pushed to our Limits. We demand immediate action from the government to address the fuel scarcity, curb hoarding practices, and regulate prices. The government must not test our will by not addressing these demands within the next 48hrs,” the statement read.

Continue Reading

Trending