News

Fuel Price May Fall As Petrol Vessels Berth At Port

Published

6 months ago

November 19, 2023

The pump price of Premium Motor Spirit, popularly called petrol, may be reduced in filling stations operated by independent marketers this week, following the massive imports of PMS by the Nigerian National Petroleum Company Limited, oil dealers stated on Saturday.

It was gathered that the recent hike in petrol prices at retail outlets operated by independent marketers was due to the short supply of the commodity, which led to acts of profiteering by both depot owners and filling stations.

But operators in the downstream oil sector confirmed to The PUNCH on Saturday night that several cargoes imported by NNPCL had arrived in Nigeria, as some of them were currently discharging at the ports.

“Once the products start hitting filling stations, fuel price will reduce, because the recent high cost was due to supply drop,” the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, The PUNCH.

On Thursday, oil marketers blamed the emergence of queues for petrol at filling stations in Abuja and neighbouring Nasarawa and Niger states on the low supply of PMS by its sole importer – NNPCL.

However, the national oil company refuted the position of marketers, as it argued that the queues in the affected areas were due to a “price war.”

But going by the latest development concerning the imports by NNPCL, operators in the sector stated that the queues would not only disappear but there would be a reduction in price at independent filling stations.

Currently, petrol is mostly sold at between N580 and N613/litre at filling stations operated by NNPCL. Most other marketers dispense the commodity at higher rates, with some selling PMS for as high as N670/litre.

“The most important thing now is that cargoes carrying PMS ordered by NNPCL have arrived, some of them have berthed and they are discharging. So the partial scarcity we are experiencing now will be gone,” Ukadike said.

He noted that the inflow of foreign exchange during the Yuletide would not necessarily impact petrol prices, rather the increased imports by NNPCL should warrant a reduction in price.

He said the large PMS imports were confirmed to marketers by NNPCL.

On whether marketers had started receiving the products, Ukadike replied, “By Monday we will start receiving from Port Harcourt and Warri, based on my last discussion with the NNPC management.”

Another major marketer also confirmed the position of IPMAN, as he stated that “when you wet the market with products, there’ll be no room for profiteering.”

Earlier, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, stated that the position of oil marketers as regards the re-emergence of fuel queues was not true, as he insisted that the oil firm had enough products.

“That is not true. The recent tightness in Abuja is essentially a price war which is typical of any competitive market. Motorists would rather queue at filling stations that offer lower prices than others.

“While NNPC retail is selling at N613/litre in Abuja, other marketers’ prices range from N625-N650/litre,” Soneye said.

News

Shell Set To Build Gas Pipelines In Oyo

Published

4 hours ago

May 3, 2024

Editor

Shell Nigeria Gas and the Oyo State Government have signed an agreement to develop a gas supply and distribution infrastructure that will deliver gas to industrial and commercial users in the state.

A statement released on Friday by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, disclosed that SNG will build and operate the gas distribution network which will serve customers across Oyo State for 20 years.

According to the statement, the project will start with the construction of gas distribution infrastructure along a 15km pipeline route, adding that it will grow to deliver up to 60 million standard cubic feet of gas per day across the state.

It was learnt that the first gas is expected in the fourth quarter of 2025.

Speaking at the signing ceremony, the Oyo State Governor Seyi Makinde, described the project as a catalyst for development in the state.

Makinde said, “This project fits into our plan to drive innovation and industrialisation in Oyo State and we’re ready to partner with more companies and other organisations to enhance the delivery of relevant projects”.

Speaking, the Managing Director of SNG, Ralph Gbobo, noted that the agreement was “a significant milestone for SNG and Oyo State to boost economic activities in Nigeria by supplying industries and manufacturers with natural gas, a more reliable, cost-efficient and environmentally friendly source of energy”.

He explained, “The gas distribution project will be a game-changer in the industrialisation drive of the Oyo State Government and help boost internally generated revenue and result in more job opportunities.

“For SNG, the project is a milestone in our effort to continue growing the energy supply to businesses in Nigeria in line with Nigeria’s ambition to drive progress on the back of natural gas availability across Nigeria under the Decade of Gas initiative”.

The Managing Director of The Shell Petroleum Development Company of Nigeria Limited and Chairman, Shell Companies in Nigeria, Osagie Okunbor remarked that the event pointed to the value of partnership as “Shell continues to power progress” in Nigeria through more and cleaner energy solutions for commercial and industrial customers.

“Building on our presence in the country since the 1960s and the wide marketing and trading reach of Shell Energy, we are excited about developing gas distribution solutions and delivering competitive and reliable energy for power generation and industrial use across Nigeria,” Okunbor added.

SNG was incorporated in 1998 as a fully Shell-owned company. Over the years, the company has become a supplier of gas and now serves over 150 clients in Abia, Bayelsa, Ogun and Rivers states.

The PUNCH reports that the Federal Government said it would stop granting licences to gas companies with no capacity to build pipelines for gas distribution.

This, the government said became necessary to discourage the transportation of compressed natural gas through the roads.

The Minister of State for Petroleum (Gas), Ekperikpe Ekpo, made this disclosure when he was in Abeokuta, the Ogun State capital on Wednesday.

While saying the country must transit from fossil fuel to CNG, Ekpo revealed that he had directed the Chief Executive of the Nigerian Midstream and Downstream Regulatory Authority, Farouk Ahmed, not to issue licenses to anyone who could not pipe CNG to the end users.

News

15-year-Old Public School Student Scores 362 In UTME

Published

6 hours ago

May 3, 2024

Editor

A student of a public secondary school, Government Secondary School, Omu Aran, Kwara State, Olukayode Victor Olusola, scored 362 marks in this year’s Unified Tertiary Matriculation Examination, UTME, to be among the contenders for the highest scorers in the examination.

Though the Registrar of the Joint Admission and Matriculation Board, JAMB, Prof. Isaq Oloyede, organisers of the exam, had said the Board would not announce the highest scorer to avoid last year’s experience of confusing claims, Olukayode’s score is celebratory, as it is among the highest in recent years.

He scored 95 marks each in Mathematics, Physics and Chemistry and 77 in English Language.

His exploit is coming against the backdrop of the poor performance of candidates in the exam in which 1.4 million scored less than 200 marks out of 400. The exam was taken by over 1.8 million candidates

Also, Olukayode’s excellent performance is coming at a time when confidence is greatly eroding in what public schools have to offer and some private schools are boasting of being the most expensive in the country.

Olukayode was born in 2009 and hopes to study Electrical Electronic at the University of Ilorin, Kwara State.

His mother, Beatrice Tosin, while giving all the honour to God, also praised the studious and hard working nature of her child.

News

Group Mulls Legal Option To Stop IOCs’ Divestment From N’Delta

Published

7 hours ago

May 3, 2024

Editor

A human rights organization, ‘We The People,’ has said that it is considering legal options to hold international oil companies responsible for the massive environmental degradation from their operations in the Niger Delta for the past seven decades.

The organization said the move became necessary following the rush by the IOCs to abandon their onshore operations for deep offshore activities currently called divestment.

Executive Director of ‘We The People,’ Ken Henshaw, stated this during a Legal Roundtable on Oil Company Divestment, held in Port Harcourt, the Rivers State capital.

Henshaw said the roundtable was aimed at galvanizing experts on the environment, legal system, the media and civil society organizations to proffer legal options to hold the IOCs responsible for the years of environmental carnage in the Niger Delta before they are allowed to embark on what many have described as the criminal flight of oil multi-nationals.

According to The PUNCH, he noted that it would be difficult to hold the companies accountable for the pollution of the region caused by their operations once they leave the shores of the country, hence they needed to be tackled to take responsibility for their activities.

Henshaw stated, “Since 2020 to 2021, many international oil companies that have operated in the Niger Delta for nearly 70 years have all started selling off their assets, Agip is selling to Oando, Shell is selling to Renaissance Energy, ExxonMobil is selling to Seplat. They are selling off these assets and the players taking over these assets are indigenous companies.

“We think that this is a real problem in the sense that we are not sure of the chances or opportunities of holding these companies accountable when they leave.

“We all know that the extraction of crude oil and gas has created different levels of problems. Routinely, gas has been flared for almost 70 years, routinely oil spilled for almost 60 years and this has caused serious ecological damage and also damage to the health of the people. It has made their fishing and occupation not viable.

“So after 70 years, we are simply saying that there is a need for us to assess the extent of negative impacts created by oil extraction and place liability and responsibility where liability and responsibility should be placed.

“We are simply asking through this meeting, what are the legal options available to hold these companies accountable?”

Delivering the keynote address, a specialist in Petroleum and International Law and Policy at the University of Port Harcourt, Prof. Ibiba Worika, urged the Federal Government to exercise restraint in ratifying the oil companies’ assets divestment.

Worika advised the government to ensure that companies address the historical pollution and other environmental concerns in the oil-rich region before being allowed to leave because the people will be at the receiving end.

He said, “For us here in the Niger Delta, the divestment of IOCs is something that basically we are likely going to be at the receiving end, our environment has been essentially despoiled over the years due to decades of oil and gas exploration and development and historical pollutions have never been addressed by the oil majors or the government, and unfortunately, our communities are left alone to deal with this.

“The question is, should these oil and gas majors be allowed to divest their assets and just walk away, without addressing the historical pollution and other environmental concerns?

“I don’t think that would be fair, I think that the Federal Government should exercise restraint on giving its approval so we can have a round table discussion where these concerns can truly be expressed and let’s see what it is that can be done to address these concerns.”

Worika added that should the government fail to do the needful soonest, civil society organizations in the Niger Delta would be left with no other option but to institute legal action against the Federal Government and the IOCs.

He insisted, “I have not heard of any instances where a local government area or a state government took it upon itself to sue an oil major for and on behalf of the communities. I have not seen that, but we still have them sharing the revenues from oil and gas exploration from all these communities.

“If this is not done then I fear that we may have to institute legal actions ahead of the divestment, restraining both the Federal Government and the oil companies concerned from divesting until these matters are looked into, much more approximately, and of course remediation, as well as compensation packages are arranged for the communities.”

On his part, a former Commissioner for Environment in Bayelsa State, Iniruo Wills, said the blame for unending environmental pollution in the region should be on political leaders, such as governors, ministers and senators from the region, who he accused of abetting the pollution of the environment.

Wills, who is an environmental advocate, alleged that the political leaders have allowed the trend to continue because of pecuniary benefits.

He said, “Some of us are surprised that no state government in the Niger Delta is doing anything serious about abating the pollution in the region. So this is an opportunity to call on the individuals, I don’t like fiction or ghosts, but individuals like you and I, who are holding the offices, have the authority needed to do something.

“Some of them are in Abuja, Abuja is too far, we are in the Niger Delta, who are people in the Niger Delta that we the people have put as our gatekeepers to defend us, to defend our territories, such as the governors? So the kind of pollution and other environmental hazards that we have been singing about for 50 to 70 years are continuing, not just because of the people in Abuja or the oil companies.

“It is because somebody or people who are governors, senators, or ministers of petroleum from the Niger Delta have refused to do anything about it.

“As of this moment that we are speaking, if pollution is continuing in Rivers State, it is because Governor Siminalayi Fubara does not consider it a priority. If it is continuing in Bayelsa State, it would be because Governor Duoyi Diri does not take it as a priority.

“The day that one governor in the Niger Delta considers that this thing is a danger to his people and he is going to deploy the full weight of his executive authority and resources to deal with it, this madness will come to an end.”