Category Archives: Energy

N250/Litre Loading . . .

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By a concerned Nigerian :

We are selling more crude than Jonathan right now at higher prices ($65+) than Jonathan did towards the tail end of his administration($50 thereabout), yet the exchange rate is more than twice.

Of course products are landing now at N180/litre (so you subsidize or ‘under recover’ . . . ‘yada yada yada’), ’cause the rates are at N360 to a dollar, at N180 to a dollar PMS will be at lower than N90/litre.


Just In!! Nigeria’s Biggest Oil Producing Vessel Arrives Lagos From South Korea (Photos)

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Biafrexit: NNPC Begins Oil Exploration In The Sokoto Basin

The Nigeria National Petroleum Cooperation (NNPC) said it has started the process that would lead to the exploration of oil and gas in the Sokoto Basin.

A statement signed by Gov. Aminu Tambuwal’s spokesman Malam Imam Imam and issued to Newsmen in Sokoto on Wednesday said that “the NNPC’s Group Managing Director, Maikanti Baro, stated this when he received Gov. Tambuwal, who paid a working visit to the NNPC Towers in Abuja’’.

“We have been on the issue of exploration in the frontier basins.

“And so far some measures of steps have been taken, as such already purchased aeromagnetic data and its being interpreted to determine the sedimentary thickness and the basin configuration.

“Secondly, we have awarded a contract for the geological mapping of the basin.

“And I am happy to state here that outcrop samples have been collected, mapped, analysed and geological modelling executed so as to ensure data integration,” Baro said

The GMD added that discussions were on-going with Integrated Data Services Limited (IDSL) to award contract for surface geochemistry, ground gravity and magnetics.

“This is necessary to determine if hydrocarbon is generated in the basins and importantly, to integrate all data for understanding of petroleum systems of the basins.

“NNPC will also carry out high resolution regional 2D seismic data acquisition to identify leads and prospects, after which a 3D seismic data acquisition will be carried out over leads and prospects.

“After all these are carried out, we will then begin to drill for oil and gas in the basin,” Baro added.

While commending Tambuwal for the visit, he assured that the cooperation was giving required attention to renewable energy and inland basins in order to create a prosperous future for the entity.

Earlier, Tambuwal said various studies had been carried out by the government on the Sokoto Basins, the result of which would be made available to the NNPC to aid its efforts.

He said the government, in collaboration with the Usman Danfodio University, would organise a national conference on the Sokoto Basin in October where international scholars would make presentations on the topic.

“We are inviting you and the NNPC to take part in this important conference because we believe it will add value in our search for hydrocarbon in the Sokoto Basin,” he said.

He said historical records indicated that the presence of hydrocarbon in the Sokoto Basin had been a subject of interest to geologists for long, a situation that made Italian oil giants, Elf, to consider preliminary exploration activities beginning from the 50s.

He said Sokoto government would welcome the start of activities and would support any effort that will lead to positive result.

Promising Results Buhari: NNPC Discovers 21 Wells Full Oil In The North

 

Moves by the Nigerian government to build up the nations proven oil reserve through exploration of new frontiers received a fresh thrust with the news that the Nigerian National Petroleum Corporation (NNPC) as 21 oil wells out of the 23 drilled so far have potential of full prospects of oil.

The report from the NNPC showed that a total of 23 oil wells have already been drilled by mining oil companies that have been involved in oil exploration in the North in the past 30 years.

While only 2 of them were reportedly hit a dry run, 21 other wells were said to hold prospects of oil.

The statement from the NNPC also said that the exploration of the oil in the North has, so far, gulped a shocking sum of about N27 billion and $340 million correspondingly.

The corporation is reportedly expecting to receive more money into the quest – in compliance with the recent presidential directive to resume oil exploration in the North.

The statement reads in part: “Discoveries made in neighbouring countries in basins with similar structural settings are: Doba, Doseo and Bongor all in Chad amounts to over 2 Billion barrels (Bbbls); Logone Birni in Southern Chad and Northern Cameroon, over 100 Bbbls; and Termit-Agadem Basin in Niger totals over 1Bbbls.

“Already the NNPC New Frontier Exploration Services Division which is leading the charge for crude oil find in the entire Inland Basins is acquiring 3,550 sq km of 3- D seismic data for processing and interpretation in addition to the already acquired 6000km of 2-D data that is currently being reprocessed.”

“The search is not limited to the Chad Basin alone but covers extensive inquest in the entire Nigerian Frontier Sedimentary Basins which includes- The Anambra, Bida, Dahomey, Gongola/Yola and the Sokota Basins alongside the Middle/Lower Benue Trough.’’

The attacks of the Niger Delta militants in the south of Nigeria reduced oil production and partially caused the country’s recession.

Following this President Muhammadu Buhari two months ago directed the NNPC to escalate search for oil in the north-east.

The administration started the long-term planned exploration of crude oil in the north-eastern part of Nigeria which will reduce the pressure on the Niger Delta region.

In a related development the Chief of Naval Staff Vice Admiral Ibok-Ete Ibas said the Nigerian Navy had commenced deployment of its personnel to the Lake Chad Basin Naval post to protect Nigeria’s territorial interest on the Lake bordering Nigeria and countries in the Sahel region commenced last month.

 

BREAKING!!! Chinese Firm Discovers Large Quantities of 3 Different Minerals in Biafraland (Photos)

Rutile, Galena, Uranium Discovered In Cross River State By Chinese Men

A group of miners from China has been prospecting for solid minerals all over the state for some weeks and so far, iron ore (magnetite) that stretches the land expanse of 10 kilometres from Iso-Bendeghe in Boki Local Government to Bendeghe-Afi in Ikom Local Government Area larger than the one found in Ajaokuta in Kogi State has been discovered. Infact, it has been confirmed that the iron ore deposit found in Cross River State is the largest in Nigeria.

In Nkarasi 2, Ikom LGA, a very massive quantity of rutile was found. It has never been imagined that rutile will ever be found in Cross River untill now. Rutile is used for the production of electronic components like capacitors, transistors, diodes and ICs. This is another interesting aspect of this prospecting process because it means that Cross River has the complete raw materials to produce electronics from start to finish.

Galena (Led ore) has also been discovered in Osina, in Yala and Iyamitate in Obubra and several other Local Governments. As we know, led is used for soldering and its demand is very high. Moreover, some Galena have silver after purification.

In Okpoma, Yala, 16million metric tones of salt deposit has been discovered and the quality is very high. At Idomi in Yakurr LGA, uranium has been discovered in very large quantity. Uranium is used for the manufacturing of atomic energy by world powers.

Apart from Akamkpa, huge quantities of lime stone have been found in Idomi, Yakurr, Boki etc. The China based mining company is ready for mining, once the prospecting and exploration is completed.

Though some have argued that issues of mineral resources, as enshrined in the fundamental rules of regime, are exclusive preserve of the Federal Government, the fact remains that the federal and state could go into a confederacy mostly when the investors’ partnership preferment is the state.

More photos next page

Shell Official Says Niger Delta Is No Longer Attractive To Investors

Mr Igo Weli, the General Manager, External Relations, Shell Petroleum Development Company (SPDC), on Thursday said the Niger Delta was no longer attractive for investment.

Weli made the claim in an interview with the News Agency of Nigeria (NAN) in Port Harcourt on the sideline of an SPDC sponsored two-day meeting with stakeholders in Abia and Rivers states.

He said that declining interest by investors was partly due to restiveness, damage of facilities and the unpredictable nature of the region’s business environment.

“The Niger Delta is no longer attractive to investors, as most businesses have already left with new and potential investors preferring to invest in other places like Lagos.

“There are issues in Nigeria today but there are parts of the country that are still working. Even in the midst of these issues and challenges, Lagos is making progress.

“Investors are going to Lagos because of the choices the state government makes and the way they organise themselves and the confidence that gives to investors, which is the reverse in the Niger Delta.

“If Dangote could invest 18 billion dollars to build a refinery in Lagos that ordinarily should be sited in the Niger Delta, then the Niger Delta should be seriously concerned.

“The region is depriving itself of investment, employment and business opportunities because of endless agitations and choices it took out of anger,” the SPDC official said.

Weli explained that Dangote refinery alone would create over 149,000 new jobs with the economies of Lagos and other South-Western states the major beneficiaries.

He said that unemployment was on the rise in the Niger Delta partly because most firms have left while others have reduced their operation in the area.

Weli wondered why the region was yet to develop despite benefiting from 13 per cent derivation and presence of establishments like the Niger Delta Development Commission; Niger Delta Ministry and Amnesty Programme.

According to him, people who desired to hurt SPDC forget that the company was a global brand with assets all over the world, and as such, could make adjustments.

“Even the existing companies’ activities are dropping because everyday instead of spending time thinking of how to grow the business; the companies are busy thinking of how to manage crises.

“So, people need to think deeply before they act because perception of the situation in the area is likened to one day one trouble, and no longer one week one trouble.

“We should ask ourselves questions of why the region is not on the path of progress; why its roads, schools, hospitals and electricity are not different.

“Well, we should look no further because it is simply the choices the region is making,” he said.

Weli said that re-positioning of the region would involve collaboration of all stakeholders including both state and local governments; the private sector and the people. (NAN)

Biafrexit: See What Asari Dokubo & IPOB Did to Shell Company (Download Video)

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How Jonathan Reduced Electrify Tariff To Get Votes In 2015 – Fashola

Minister of Power, Works and Housing, Babatunde Fashola has claimed that the immediate past President, Goodluck Jonathan reversed

JUST IN!!! Kachikwu Clashes With Tinubu in Port Harcourt

The Minister of State for Petroleum Resources, Ibe Kachukwu has clashed with the Group Chief Executive of Oando PLC, Mr. Wale Tinubu, over alleged planned concessioning of Port-Harcourt refinery.

Both men met on Thursday during a one-day Public Hearing of the Senate on the way forward for the oil sector.

The Minister, who appeared before the Senator Abubakar Kyari-led ad hoc Committee on the Planned Concession of the Refinery rebuffed Tinubu and disowned statements credited to the latter which implied that his company (Oando) has been granted concession for the Port Harcourt refinery.

Although Wale Tinubu also denied ever making any remark in the media on alleged concession of Port Harcourt refinery to the oil company by the federal government, he vehemently maintained his stand that the refinery has been packaged for Oando’s rehabilitation.

After accusation and counter accusation between the two, the Senate and the federal agencies handling the nation’s oil refineries on alleged move to concession the Port Harcourt Refinery, all parties settled for revamping, rehabilitation and maintenance of the refinery along with others through what they termed, sourced financing from private oil firms.

Speaking further on the state of the refinery, Kachikwu who noted that $300 million would be required to repair it, said that it was better to engage the company that built the refinery in the first instance for its repairs, due to the availability of spare parts and knowledge of the configuration, adding that the country’s refineries were being run and maintained by Nigerian engineers, and acknowledged that there was the urgent need for constant retraining of the engineers.

FG Forces Capital Oil, Ifeanyi Ubah to Pay N2bn to NNPC

The Nigeria National Petroleum Corporation (NNPC) on Wednesday revealed that the Chairman of Capital Oil, Chief Ifeanyi Ubah under investigation for diversion of N11billion worth of petroleum products belonging to the Nigerian National Petroleum Corporation (NNPC) has paid back N2 billion out of the N11billion to the NNPC.

 
The chief operating officer, downstream-NNPC, Mr. Henry Nkem Obi disclosed in his presentation at a two-day investigative hearing organized by the House Committee on Petroleum (Downstream) on the disappearance of petroleum products and the spate of kerosene explosions in the country.
Nkem Obi told the committee that prior to the diversion of the petroleum products by Chief Ubah, NNPC had an agreement with Capital Oil that no party is to tamper with any petroleum products consignment in its custody without the knowledge of the other party.

 
He said that upon discovering that Capital Oil had diverted the petroleum products in its custody, the corporation reached out to relevant and sister agencies to help in the recovery of the diverted products.

 
“We’ve since engaged in the process of negotiations for defaulting party to return products to storage or pay the cash equivalent. Capital Oil has paid N2 billion and negotiations to get the full payment are on-going,” the COO said.

 
This revelation is coming on the heels of the ultimatum given to Chief Ubah and Capital Oil by the House to appear before the committee unfailingly today to speak on the disappearance of petroleum products worth N11 billion belonging to the NNPC.

 
Chairman of the committee, Hon. Akinlaja Joseph, while issuing the ultimatum, accused Ubah and Capital Oil of evading the invitation from the committee summoning him to appear and testify. Also expected to appear before the House committee today is the managing director of the NNPC retail.

 
Earlier, Speaker of the House, Yakubu Dogara, said that the disappearance of the N11billion worth of petroleum products belonging to the NNPC from the Capital Oil tank farm in Lagos, was capable of jeopardizing the nation’s economy by reducing government’s revenue and hampering efforts to exit from economic recession.

BREAKING!!! Nigeria In Trouble As Production Of Petrol Cars Ends In 2025

Nigeria may likely be in deeper economic trouble with the recent verdict Standford University economist that leading automobile manufacturers in Asia, Europe and the United States, to discontinue the manufacture of petrol-powered cars, buses and trucks in the next eight years.

After eight years, he said that the entire market for land transport will switch to electronic powered transport system. According to him, this will lead to the collapse of oil prices and the demise of the petroleum industry, Nigeria’s key foreign exchange earner.

In a futuristic forecast by Standford University economist, Tony Seba, people will switch en masse to self-drive electric vehicles (EVs) that are 10 times cheaper to run than fossil-based cars, with a near-zero marginal cost of fuel and an expected lifespan of 1 million miles (1.6 million kilometres).

Seba, however, said that only nostalgics will cling to the old habit of car ownership whereas the rest will adapt to vehicles on demand.

He observed that it will become harder to find a petrol station, spares, or anybody to fix the 2000 moving parts that bedevil the internal combustion engine and dealers will disappear by

2024.

“Cities will ban human drivers once the data confirms how dangerous they can be behind a wheel. This will spread to suburbs, and then beyond. There will be a “mass stranding of existing vehicles”. The value of second-hand cars will plunge. You will have to pay to dispose of your old vehicle. It is a twin “death spiral” for big oil and big autos, with ugly implications for some big companies on the London Stock Exchange unless they adapt in time” he said.

According to him, the long-term price of crude will fall to $US25 a barrel while most forms of shale and deep-water drilling will no longer be viable.

“Assets will be stranded. Scotland will forfeit any North Sea bonanza. Russia, Saudi Arabia, Nigeria, and Venezuela will be in trouble. It is an existential threat to Ford, General Motors, and the German car industry.

They will face a choice between manufacturing EVs in a brutal low profit market, or reinventing themselves a self-drive service companies, variants of Uber and Lyft. They are in the wrong business. The next generation of cars will be “computers on wheels”. Google, Apple, and Foxconn have the disruptive edge, and are going in for the kill.

Silicon Valley is where the auto action is, not Detroit, Wolfsburg, or Toyota City. The long-term price of crude will fall to $US25 a barrel. Most forms of shale and

JUST IN!!! Nigeria Is In Big Trouble – Minister Of Power, Fashola Raises Alarm

Minister of Power, Works and Housing, Babatunde Fashola has continued to trade words with members of the National Assembly over tampered 2017 Budget which recorded some added projects by Lawmakers.

According to the Minister, Nigeria is in big trouble if lawmakers do not understand the difference between cash and budgets.

Fashola had earlier complained that some provisions of the budget violate the nation’s constitution. The National however clapped back that the Minister was spreading ‘half-truths’ about the controversial Budget.

The former Lagos Governor who spoke in a statement signed by Hakeem Bello, his special adviser on media, said it will not be out of place to seek a resolution of the conflict between the executive and the legislators at the supreme court.

He alleged that the national assembly was more interested in small projects that are not life-changing.

In the case of the Second Niger Bridge where one of the spokespersons alleged that the provision in 2016 budget was not spent and had to be returned, Fashola said that this displays very stark and worrisome gaps in knowledge of the spokesperson about the budget process he was addressing.

Fashola said the focus on contracts by the spokesperson of the house of representatives is probably a “Freudian slip that reveals his mindset”.

He said: “Budget is not cash, it is an approval of estimates of expenditure to be financed by cash from the ministry of finance. The ministry of finance has not yet released any cash for the second Niger bridge, so no money was returned.

“Three phases of early works of piling and foundation were approved and financed by the previous government in the hope that a concession will finally be issued, which has not happened because concessionaires have not been able to raise finance.

“The continuation of early works IV could not start in May 2016 when the budget was passed because of high water level in the River Niger in the rainy season.

“The contract was only approved by the federal executive council in the

BREAKING!!! NNPC Crashes Diesel Price Nationwide By 42%

 

Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC).

It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation.

However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

Shedding more light on this remarkable achievement, NNPC Spokesperson, Mr. Ndu Ughamadu, said some of the Corporation’s strategic interventions in this regard include improving the supply of AGO and remodeling of the product distribution to address sufficiency issues across the country.

“Since January this year, we have worked very hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme,” Ughamadu affirmed.

Also, in its quest to enhance efficient distribution of AGO, the Corporation was able to resuscitate its critical pipelines and depots in places such as Atlas Cove-Mosimi, Port-Harcourt Refinery-Aba and Kaduna Refinery-Kano. Efforts are also ongoing to revamp and commission other critical pipelines across the country.

Another key intervention that has enhanced supply and distribution of diesel, the NNPC Spokesperson noted, was the Corporation’s robust engagement with critical downstream stakeholders where salient issues were raised and duly addressed. These stakeholders include: Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Furthermore, as a result of consistent positive engagement with the Central Bank of Nigeria (CBN), NNPC equally extended the expansion of Premium Motor Spirit (PMS) Foreign Exchange Intervention Scheme to accommodate Diesel and Aviation Fuel.

The general public is hereby assured that the Corporation would continue to ensure seamless supply and distribution of diesel and other petroleum products across the country to make the lives of Nigerians better.

Ndu Ughamadu

Group General Manager,

Group Public Affairs Division,

NNPC, Abuja.

18th June, 2017.

BREAKING!!! All Refineries Owned by Northerners Banned From Operation in N/Delta – Ankio Briggs

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BREAKING!!! Petroleum Industry Bill: Kano, Kaduna, Gombe Listed As Host Communities, To Share From Funds

The new Petroleum Industry Bill (PIB) before the House of Representatives has expanded the concept of host communities to include some non-oil states.

The Bill, read for the second time yesterday, provides that state where there is a refinery, petroleum depot or where pipeline passes through will draw from the host communities’ funds.

According to the NNPC, Nigeria has 5000 kilometres of pipeline network and twenty-one (21) storage depots. Independent marketers account for over 83 depots spread across the country.

The pipeline networks (depending on the product they are conveying) crisscross states in the West mostly Lagos and South Warri, Port Harcourt, East Aba, Owerri down to the North, Kaduna, Kano and Gombe.

The House yesterday passed three different bills on the petroleum industry for second reading including the Senate version already passed by the upper chamber last month.

Although some lawmakers picked holes in the bill, they allowed it pass for second reading for stakeholders to contribute their quota during public hearing.

The bill provides that the benefits to be derived by non-oil communities will be less than those for communities where oil exploration and production take place.

The bill is titled: ‘A Bill for an Act to provide for a framework relating to Petroleum Host Community’s participation, cost and benefit sharing amongst the government, petroleum exploration companies and petroleum host communities and for related matters.’

Leading debate on the Bill, Rep Joseph Akinlaja (PDP, Ondo), said the draft law provides that there should be a Petroleum Communities Trust Fund as a corporate body for each local government hosting upstream facilities to manage the monies received as payment for hosting petroleum operations.

He said there shall be a board for the fund and that 0.5 percent of the fund would be allocated to local government councils in the affected communities.

He said the federal government shall pay to each fund the following monies: 10 percent of the total amount payable to a state government from its derivation revenue and 20 percent of an aggregate of the total royalties accruing to the federal government to be evenly distributed by all concerned local governments.

Other monies to be paid by the federal government are 50 percent of government receipt from levies for pipelines payable to host communities hosting such pipelines and

Arewa: Understanding The Northern Nigeria Oil Reserves Strategy

From a reader:

A recent visit to the city of baga in Borno on the lake Chad called to mind that a century ago, the lake Chad region hold half the world oil reserves. 6 years ago, the battle of Boko Haram begins, one of the bloodiest of Terrorist war, the western bogy war to control large, part over who controlled those vast oil reserves . Today, the region has little to show for it. Still relatively poor and underdeveloped, and environmentally one of the most devastated in the world, it now sees. it will soon start seen it’s salvation once again in the promise of newly discovered oil reserves. And once again, Western oil companies and political strategists are showing greater interest in the region as it embarks on a project to build the region through NGOs.

But there is no escaping that the region that has grabbed the greatest global attention during the past 6 years such as bring back our girls, or matters of resources , the North, remains critical for future energy supplies. In a way, all the scrambling to develop resources around the world today is intended to delay the day of reckoning. Although the north, holds between two-thirds and three-quarters of all known resources reserves. For that reason the United States and the West have continued to define the region as being vitally important just As the Middle East, and destabilize the region for now to keep the Chinese at bay, so yes we want igbos to leave the north, and we will take the war to them inside biafra land, just like South Sudan, let’s the geopolitical chess move begins, we are ready,.. And yes I was in the meeting. Including deputy UN sec.