Gas
NNPC selects 26 firms to lift Nigeria’s crude oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. The crude term contracts, expected to run from 2021 through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company. The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August. The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria’s petrol needs as well as cover some of its diesel and jet fuel consumption. However, in the fresh crude oil...
Ireland’s health service IT systems shut down by ransomware attack
Ireland’s health service said it was under a ransomware attack on Friday that forced it to shut down its computer systems. A ransomware attack locks users out of their computer systems until they pay a fee to the intruder. There were few details, but the attack was described as significant by Ireland’s Health Service Executive. Motorists line up for fuel at one of the few remaining gas stations that still has fuel in Arlington, Virgina, on May 13, 2021. AFPBiden says oil pipeline back in operation after cyber attack It said it was shutting down all its IT systems to protect them from the attack while it consulted security partners. Covid-19 vaccinations would still go ahead as planned, the agency said. “We apologise for inconvenience caused to patients and to the public and will give furth...
Two people killed in Sudan rally over 2019 protest killings
At least two people have been killed and dozens wounded as Sudanese security forces cracked down on a rally that demanded justice for protesters killed during anti-government demonstrations two years ago, according to the army. Prime Minister Abdalla Hamdok on Wednesday said he was “shocked” by the killings, calling it a “crime to use live bullets against peaceful protesters”. Hundreds gathered on Tuesday evening outside the army headquarters in the capital, Khartoum, at the site where thousands gathered in 2019 initially demanding the removal of then-President Omar al-Bashir and urging a transfer to civilian rule. The demonstration on Tuesday started shortly before iftar, the evening meal which breaks the fast during the holy month of Ramadan. It marked two years since the bloody dispersa...
NNPC assures will continue to meet financial obligations to FAAC
The Nigerian National Petroleum Corporation (NNPC) has clarified that the revenue projection contained in the letter to the Accountant General of the Federation being cited in the media pertains only to the Federation revenue stream being managed by the Corporation and not a reflection of the overall financial performance of the Corporation. A press release by the Corporation’s spokesman, Dr. Kennie Obateru, stated that the clarification became necessary in the light of media reports insinuating that the Corporation was in financial straits. NNPC maintains that it is conscious of its role and was doing everything possible to shore up revenues and support the Federation at all times. “The shortfall will be remedied by the Corporation as it relates only to the Federation revenue stream being...
Nigerian government grants approval for $2.9 billion Escravos seaport
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession Company, MMCC. The proposed $2.9 billion project is majorly designed to boost economic/national development of Nigeria particularly, Delta State.Chairman, Chief Executive of the firm, Rear-Admiral Andrew Okoji, who confirmed the approval, weekend, said the Federal Ministry of Transport has directed the firm to pay N1 billion, apparently to express its interest. He said: ‘‘It is going to be a lease for about 50 years, the investment for the port is coming from abroad. “We have gotten provisional approval from the Federal Government through the Federal Ministry of Transportation, as they have told us to lodge in $1 billion as evidence of capacity to...
Kebbi: NSCDC sets up committee to investigate ‘extortion’
File Photo The Nigeria Security and Civil Defense Corps (NSCDC) says it has set up a five-man committee to investigate alleged N1 million extortion by its staff in Kebbi State. The State Commandant of the corps, Alhaji Suleman Ibrahim, made this known at a news conference in Birnin Kebbi on Monday. Ibrahim said, “I have read a report online that my officers have been alleged to have extorted money from a client. ”This has never been the tradition of the Nigerian Security and Civil Defense Corps in the state as one of our core values is serving with integrity, honesty and diligence. “I am not a party to such an incident and I am not aware of it, and I doubt if any of my officers will do such an illegal and unlawful act. ”But still, we will take any allegation serious to its logical conclusi...
NNPC to partner Borno government to establish gas power plant
The Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Alhaji Mele Kyari has said that the corporation will partner with Borno State Government to establish a Gas Power Plant following the vandalization of the national grid by insurgents which put the state almost three months into total blackout. Kyari who led a powerful delegation on a courtesy call on Governor Babagana Umara Zulum on Friday said, the Federal Government will not fold its arms and neglect the state which is been ravaged by insurgents, especially cut off from the national grid, as power is a source of income to the teaming people of the state. “We are here with my colleagues, the Head of Gas and Power Business, Engineer Yusuf Usman, Representatives of Greensville Liquefied Natural Gas (LNG), which is a...
DPR: Market forces should determine gas prices
File Photo The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. According to him, the levers include availability, accessibility, a...
Traffic in Suez Canal resumes after stranded ship refloated
Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated, the canal authority said. The 400-metre (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting traffic on the shortest shipping route between Europe and Asia. Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the centre of the canal on Monday afternoon. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots. “Admiral Osama Rabie, the Chairman of the Suez Canal Authority (SCA), announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and ...
OPEC: Gas is vital to Nigeria’s future
The Organisation of Petroleum Exporting Countries (OPEC) says gas remains vital to Nigeria’s future in the global oil and gas sector. The OPEC Secretary General, Mohammad Barkindo, disclosed this on Monday in Abuja, at the pre-summit conference on “Decade of Gas”. He said that the move of the country to develop its huge gas deposit was a step in the right direction. “Gas is vital to Nigeria’s future, as is oil, and both will be fuels of choice globally for the foreseeable future and instrumental in facilitating the energy transition,” he said. The secretary-general said that the ‘Decade of Gas’ from 2021 to 2030 was likely to place Nigeria at the forefront of the vital global industry. Barkindo commended President Muhammadu Buhari’s effort as Head of Nigeria’s Delegation to OPEC, in the or...
Suez Canal Authority says stranded ship partially refloated
The stranded container ship that blocked the Suez Canal for nearly a week was almost fully re-floated on Monday and has restarted its engines, a shipping source with knowledge of the matter said, raising hopes the busy waterway will soon be reopened. The 400-metre (430-yard) long Ever Given has been straightened in the canal and will undergo initial inspections before being moved, two sources said. Video posted on social media appeared to show the ship’s stern had swung around, opening space in the canal. Other footage, which could not be immediately verified by Reuters, included cheering and ships’ horns sounding in celebration. Ship-tracking service VesselFinder has changed the ship’s status to under way on its website. The Ever Given became jammed diagonally across a southern section of...
WTO chief warns against Nigeria’s continued reliance on oil & gas
Dr. Ngozi Okonjo-Iweala, Director General of World Trade Organisation (WTO), has warned of Nigeria’s continued reliance on crude oil and gas as the major source of revenue to the government. Okonjo-Iweala sounded the warning on Wednesday in Abuja at a meeting with Women Entrepreneurs in Nigeria held at the headquarters of the Nigerian Export Promotion Council (NEPC). She urged the government to transit from oil and gas based economy to other non-oil sectors. She pointed out that unless Nigeria diversifies her economy, it would be left behind by other countries. She said, “I have kept on harping that Nigeria should transit from oil and gas based economy to producing in other non-oil sector. “This is because of the climate change. Fossil fuels which are oil and gas, that Nigeria depends on, ...
