Russia’s energy ministry believes it could be possible to lift the gasoline export ban, currently in force until the end of the year, considering that domestic fuel prices are stable, Russian Energy Minister Sergey Tsivilyov said on Wednesday.
Russia could lift the export restrictions now because fuel prices and the fuel market in Russia are stable, the minister told reporters today, as quoted by Russian news agency Interfax.
In the middle of August, the Russian government said that Moscow is extending its ban on gasoline exports from October to the end of December 2024, as it seeks to keep domestic supply stable amid seasonal demand and scheduled repairs at refineries.
In the autumn of 2023, Russia banned exports of diesel and gasoline in an effort to stabilize domestic fuel prices in the face of soaring prices and shortages as crude oil rallied and the Russian ruble weakened. Prior to implementing the ban, Russia had raised mandatory supply volumes for motor gasoline and diesel fuel to deal with a supply crunch.
“Everything is stable with prices, the situation on the market is stable, so restrictions can be lifted – they were introduced in the first place to stabilize prices on the domestic market,” Tsivilyov was quoted as saying today.
At the end of September, Russian Deputy Prime Minister Alexander Novak said that Russia could lift its ban on gasoline exports if a fuel surplus emerges on the domestic market.
“Exports are always permitted if there is a surplus of the product on the domestic market. For example, we do not have a ban on exporting diesel fuel, because there is a surplus, and it is sold on both the domestic market and for export,” Novak said in September.
Currently, the government is not concerned about the domestic supply situation as there are sufficient petroleum products on the exchange and stable prices at gas stations, Russia’s top oil official said at the time.
Source: Oilprice.com
The Transmission Company of Nigeria (TCN) has reported that armed men invaded the construction site of its ongoing 330/132/33kV transmission substation in Obajana, Kogi State.
The attack occurred on the night of November 12, 2024, at approximately 11:55 PM.
In a statement issued by Ndidi Mbah, Public Affairs Manager of TCN, the power transmitter said reports from security personnel at the site noted that the assailants opened fire indiscriminately, causing the guards to flee.
During the attack, a 150MVA 330/132/33kV power transformer, already positioned on its plinth, was struck, resulting in a burst radiator.
In response to the incident, TCN said it is evaluating the level of damage in collaboration with the contractor managing the project.
“This incident is part of a broader pattern of vandalism targeting transmission infrastructure across the country.
“The new Obajana Transmission Substation, which is designed to be a 1X150MVA 330/132/33kV capacity substation will significantly enhance power supply to Kogi State and surrounding areas upon completion,” the statement concluded.
Source: https://energynewsafrica.com
Nigeria has announced that it had finally ended the age-long practice of petroleum importation into the West African nation.
The development is expected to save Nigeria as much as $10 billion in hard currency in-country annually, as the national oil company said it now buys from the 650,000 barrels per day Dangote Petroleum Refinery located in Lagos.
Group Chief Executive Officer of Nigerian National Petroleum Company Limited(NNPC Limited) Mr. Mele Kyari, disclosed this in Lagos, while delivering his keynote message at the ongoing 42nd annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).
The announcement came amid another cheery news by the Independent Petroleum Marketers Association of Nigeria (IPMAN) that it had struck a deal to buy products directly from the $20 billion Dangote facility.
The previous arrangement was for the independent marketers to buy from the NNPC and not from the Dangote Refinery, a practice the oil sellers had vehemently opposed.
But drawing strength from the Domestic Crude Oil Obligation (DCOO) as stipulated in the Petroleum Industry Act (PIA) 2021, Kyari also said all the oil producers in the country must supply crude to the four NNPC refineries when they come back on-stream.
He disclaimed assumptions that the national oil company was sabotaging local refineries by refusing to sell crude oil to them.
Kyari profiled NNPC as a proud part owners to the Dangote Refinery, explaining that the company saw an opportunity in the $20 billion refinery as a clear market for at least 300,000 barrels per day of its production, which will enable it to avert being caught in the emerging shrinking market for crude oil.
“Oil is found in very many unexpected locations across the world and people have choices. And therefore, we saw an opportunity to now supply to not just Dangote, but every refinery that operates in the country. So, it’s a well informed business decision. Therefore, from day one, we knew that it was to our benefit to supply crude oil to domestic refineries.
“So, we don’t need to be persuaded. We don’t need anyone to talk to us. There is no need for any pressure from the streets for us to do this. We are already doing this”, Kyari stated.
Highlighting the implications of the pressure for oil producers in Nigeria to supply crude to local refineries and in naira too, Kyari said Nigerian crude is a premium type of crude that attracts premium price
In the global market, he explained that refiners buy Nigerian crude to blend with their dirtier crude to process, adding that only few refineries take Nigerian crude for direct processing because of its expensive and high premium nature.
Kyari disclosed that the NNPC had stopped importing refined petroleum products in line with the company’s support to local processing of all crude produced in the country.
Kyari stated: “And therefore, I believe strongly also that we must process all the crude that we produce in the country up to the optimum. And we will do everything possible to make sure that we domesticate this. And today, NNPC does not import any product. We are taking wholly from the domestic refinery.”
He said the company was also working jointly with the federal government to manage the issue of pricing, which is one of the implications of sourcing all feedstock supply from the domestic market.
He confirmed that substantial work had been done around that, adding that it will no longer be an issue.
He further disclaimed what he described as issues on the streets that the NNPC does not want to sell crude to domestic refineries in naira and that it’s a form of sabotage.
“As a matter of fact, it makes no difference to us because if you sell crude to domestic refinery in naira and you buy product in naira from a domestic refinery, it’s a netzero game. You lose nothing. Otherwise, whatever you do, you still have to source for FX because you have to import,” he added.
Reminding other oil producers in the country that the domestic crude oil obligation applies to both NNPC and them, Kyari told the producers that they must supply crude to the four NNPC refineries when they return to production.
He clarified that selling crude to local refineries in naira didn’t mean losing the value of the product but that the only difference was that the foreign exchange gap will be removed in the process to boost local currency and country’s economy.
Kyari explained: “And for those of us in the upstream, don’t forget that we have domestic crude oil supply obligation. It is not NNPC-only obligation. You must understand this. But the DCOO doesn’t mean a loss in value. It says sell it at market price, at commercial value.
“It also serves the best interest of the businesses here, it also shows commitment beyond the talk. So, let’s all not forget that everyone in the industry contributes to this.
“Which means, and to be very practical, when NNPC refineries start working, we will come to you and tell you that you must contribute to supply to these refineries. It’s in the law. It doesn’t have to come from NNPC. And we will make sure we don’t fight with anyone. But if we don’t find our oil, we come to you.”
On ensuring gas delivery to the domestic market, he complained that only NNPC has been left to carry the burden of building the entire gas delivery infrastructure till date, as all the projects were on the balance sheet of NNPC.
He said the company has accepted to carry the burden to guarantee energy security for the country as mandated by the PIA.
In promotion of the Compressed Natural Gas (CNG) penetration in the country, Kyari confirmed that by the first quarter of 2025, at least 12 mother CNG stations will be available in the country.
In addition, he revealed that the company was building a mini Liquefied Natural Gas (LNG) plant in an unspecified location in the country to deliver gas into the market.
The facilities, he stated, will also sustain the growth of CNG delivery to the domestic market and equally make gas available to mid power plants and gas-based industries in the short term.
Also speaking at the event, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, disclosed that Nigeria’s oil production has increased to 1.8 million barrels per day.
In his speech delivered by the Executive Commissioner, Development and Production, NUPRC, Mr. Eronense Amadasu, Komolafe said the country’s oil production would rise further to 2 million bpd by December this year.
He added that the framework in pursuit of the Project 1 Million BPD championed by the commission was currently under development.
The project which aimed to increase Nigeria’s oil production by an additional one million barrels in the next 12 to 24 months was launched last month by President Bola Tinubu.
The commission chief executive however faulted the perception that the International Oil Companies (IOCs) operating in Nigeria were leaving the country, saying the multinationals were only rationalising their portfolios in the wake of the changing energy landscape.
He said NUPRC had put in place robust divestment guidelines to ensure a smooth transition, reiterating that the commission is currently auctioning 31 oil blocks spreads across the onshore, shallow water and deep offshore terrains and that the process was going on smoothly.
Also speaking, the Executive Secretary of NCDMB, Mr. Felix Ogbe, who also spoke at the NAPE conference, said with 54 per cent local content already attained under the 10-Year Strategic Roadmap, the organisation was pushing to achieve the targeted 70 retention by 2027.
In line with the Presidential Executive Orders on oil and gas, which border on the contracting cycle, Ogbe, who was represented by the General Manager, Corporate Communications and Zonal Coordination, Mr. Dan Kikile, said the agency has reduced the approval timelines to 60 days.
He enjoined industry operators to continue paying their local content levy to enable NCDMB continue to fulfil its mandate and responsibility for the industry.
Meanwhile, following its recent meeting with Aliko Dangote and members of his top management staff in Lagos, the leadership of IPMAN, on Monday announced major milestones achieved during the event.
Addressing some members of the press in Abuja on Monday, National President of IPMAN, Abubakar Shettima, stated that the Dangote Refinery had obliged IPMAN to lift petrol, diesel and kerosene directly for onward supply to its depots and retail outlets.
According to the IPMAN president, this new arrangement with the Dangote Refinery will ensure steady and ceaseless supply of petrol products all over Nigeria at an affordable rate for Nigerians also.
He said: All IPMAN members should fully support the Dangote Refinery, as it’s the ideal thing to do considering the monumental benefits of backward integration and the medium to long term impact it will have on the Foreign Exchange markets in Nigeria
“IPMAN members nationwide should rely on the Dangote Refinery and Nigerian Refineries for their white products, as this will translate into ensuring more job opportunities in Nigeria, as well as signify that total support for President Bola Tinubu’s renewed hope agenda,” he added.
On CNG, Shettima called on all members of IPMAN to begin to put all machinery in place for a successful transition of the federal government’s plans to initiate CNG refill stations in all our outlets.
“Truly there is no doubt that CNG has the potential to rejuvenate our economy for a better life for Nigerians, and IPMAN is ready to give her all to support the CNG initiative,” he added.
Source: https://energynewsafrica.com
Multinational oilfield services corporation Halliburton officially opened its operational bases in Namibia with a ceremony spanning two days (November 12-13).
Aimed at supporting offshore oil and gas projects, the operational bases are situated in Windhoek, Walvis Bay and Swakopmund, and are strategically located in close proximity to port infrastructure.
The bases – set to be opened by Namibia’s Minister of Energy and Mines Tom Alweendo and Halliburton Area Vice President Antoine Berel – are set to boost local content in Namibia ahead of first oil production in the Orange Basin.
As the voice of the African energy sector, the African Energy Chamber (AEC) commends the proactive drive by Halliburton to establish a presence in Namibia – one of the world’s biggest emerging oil players.
With its newly established operational bases, the company is not only positioning itself at the forefront of the country’s oil and gas industry, but setting the stage for improved knowledge-sharing and collaboration across the hydrocarbon service and logistics industries.
The operational base in Walvis Bay represents a $10 million investment and features a warehouse, storage facilities for horizontal tanks to store and process synthetic and water-based drilling fluids, and a storage facility for dry materials. Additionally, the facility will feature a laboratory unit which will provide engineering and support services for offshore operations.
The plant will employ 200 Namibians, 50% of which are women, with expectations that employment opportunities will more than double.
Additionally, Halliburton has partnered with the University of Namibia to develop skills in the industry.
To date, Halliburton has recorded a 300% increase in local vendor registration with the anticipated opening of the operational bases. A total of 750 local companies have responded to tenders, with local expenditure significantly increasing.
With these facilities, the Walvis Bay base will provide drilling and completion fluids for use across offshore oil rigs, thereby supporting the development of existing and upcoming offshore projects.
Speaking during the opening in Windhoek, Minister Alweendo said that the country’s oil and gas resources “can transform our economy into something more dynamic. We need to make sure that the resources we have will have an impact on our economy and our people.
Prospective Namibian entrepreneurs want to make sure they can play a role in this sector and that Halliburton can play a role in facilitating their participation.
Therefore, we need to figure out how we improve the skills of Namibians. We need to make sure that, when it comes to quality, it should not be to curtail or stop the provision of services by Namibian entrepreneurs, but rather, to help them improve their services.”
Namibia remains on track for first oil production by 2029, with energy majors Shell and TotalEnergies targeting FID for the Venus-1X (PEL 56) and Graff-1X (PEL 39) discoveries – made in 2022 – by next year.
The development of these finds will not only position the country as a deepwater oil producer but create new opportunities for further offshore field development.
Concurrently, oil and gas company Galp Energia is accelerating the development of the Mopane field. Situated in PEL 83, the field could contain as much as 10 billion barrels of oil equivalent.
Speaking at African Energy Week: Invest in African Energy 2024, Maggy Shino, Petroleum Commissioner at the Ministry of Mines and Energy, said while first oil is projected for 2029, the development of the Mopane field could get the country to first oil quicker.
This not only creates opportunities for Namibia to leverage domestic resources to fuel economic growth but stimulates the development of a new petroleum industry in the country.
“The oil and gas industry would not be in the position that it is today without the tireless efforts of companies like Halliburton and the oil and gas industry working hand in hand with the Ministry and Namcor. Oil and gas are going to fuel Namibia’s economic growth and prosperity by expanding trade, creating more jobs and fostering innovation.
Halliburton brings to Namibia some of the best technology that will encourage exploration in a sustainable fashion,” states NJ Ayuk, Executive Chairman of the AEC.
Halliburton has already been expanding its presence in the country. The company inked a deepwater integrated multi-well contract in April 2024 with energy company Rhino Resources and Azule Energy.
The contract will see Halliburton provide complete solutions for the construction of exploration and appraisal wells. Rhino Resources operates Block 2914A in PEL 85 – situated in offshore Orange Basin – and plans to begin drilling in the next four months.
With the operational bases, Halliburton is gearing up to further support projects such as this. In addition to oilfield services, the bases will drive skills development and knowledge-transfer, therefore supporting capacity building across the country.
“Halliburton should be proud of its accomplishment in hiring and training Africans. We hope other companies follow the example of Halliburton and invest in Namibians. The time for talk is over. The oil industry must step up on local content and hire, train and promote Namibians,” added Ayuk.
Source: https://energynewsafrica.com
Objective of AOW: Energy 2025
AOW: Energy 2025 arrives at a pivotal moment for Africa’s energy landscape with a clear mission: to drive investment, facilitate M&A, promote farm-in opportunities, and accelerate capital flows across the African energy sector. Our mandate is clear; to position Africa at the forefront of the global energy debate and accelerate natural resource development for the good of the continent.
We are committed to forging partnerships that secure Africa’s role as a key player in the global energy mix. Our objective is to make Africa the supply base of choice for global energy demand and to ensure energy access for all across our continent by harnessing the untapped potential of the oil, gas, and energy sectors.
As we witness the opening of COP 29 in Baku, it is evident that a balanced, collaborative conversation on global energy security is urgently needed and the role of sustainable oil and gas within a balanced global energy mix. Africa’s abundant natural resources, when responsibly harnessed, can fuel both regional prosperity and global energy stability.
AOW is committed to positioning Africa at the forefront of this dialogue, showcasing strategies for sustainable development, decarbonization, and regional supply chain strengthening whilst ensuring we have a positive and balanced approach to the energy transition.
AOW will continue to amplify a crucial message: Africa has the potential to harness its natural resources to address the imminent challenges surrounding global energy supply and demand. We believe that as we progress through the energy transition, Africa’s oil, gas and natural resources can provide security and continuity, ensuring the continent’s position as a reliable supply base capable of meeting both international and regional energy needs.
Why Ghana?
Ghana stands as a prime example of Africa’s potential as a thriving, resource-rich nation, bolstered by a stable regulatory environment and a cosmopolitan, business-friendly outlook.
As a risk-adjusted producing nation, Ghana embodies what’s possible when substantial natural resource potential is matched by an open, strategic approach to international partnerships.
With support from The Presidency, the Ministry of Energy, GNPC, Petroleum Commission, NPA, and Ghana Tourism, Ghana is the ideal host for AOW: Energy 2025.
As event organizers and partners for the 2025 edition and beyond, Sankofa Events and the Africa Prosperity Network are confident that hosting AOW in Accra will position Ghana to lead the charge for Africa’s voice in the global energy debate, prioritizing regional prosperity and meaningful global engagement across the oil, gas, and energy sectors.
Statement of the President of the Republic of Ghana, His Excellency Nana Akufo-Addo
“It is with considerable pride that I address you on behalf of the government of Ghana and our strategic partner, Sankofa Events, regarding this exciting development. 2025 will mark a watershed moment for Africa Oil Week, a trusted brand that has served our continent’s oil, gas, and energy sectors for over 30 years. Throughout its history, AOW has been a vital platform for discussions and innovations that have driven the sector forward, resulting in landmark projects and investments across Africa.
“I am therefore personally delighted to endorse Africa Oil Week and to welcome its move from Cape Town to Accra. My gratitude extends to Sankofa Events for entrusting Ghana as the new host of such a significant gathering, led by Mr. Paul Sinclair, a fellow Ghanaian whose dedication to advancing Africa’s energy sector is truly inspiring.”
The Importance of Partnership with Africa Prosperity Network
The partnership between AOW: Energy and the Africa Prosperity Network (APN) underscore the shared vision that both APN and AOW have for socio-economic advancement across Africa.
This collaboration is about much more than an event; it’s about helping our continent realize the full potential of its natural resources, generating wealth, building capacity, and empowering economies across Africa.
APN and AOW are dedicated to creating a legacy of development that emphasizes capacity building, local content empowerment, diversity, inclusion, and tangible outcomes that uplift communities.
Together with our international partners, we envision a thriving energy ecosystem that sustainably harnesses Africa’s natural resources for the benefit of its people, while creating robust business opportunities for the global private sector that joins us in this endeavor.
A Call to Ghana’s Industry Leaders
To the industry leaders and stakeholders in Ghana, we invite you to join us in making AOW: Energy 2025 a resounding success. This government-endorsed event represents an unparalleled opportunity for Ghana and Africa to showcase its energy potential, build strategic alliances, and chart a course toward sustainable growth and energy security for Africa.
AOW: Energy 2025 is not just a conference; it is a catalyst for action and a platform for transformative change. By coming together, we can leverage this gathering to ensure energy security, economic progress, and prosperity for our region and beyond. Let us work together to make this vision a reality, for the benefit of Africa and its people. We can sustainably develop our natural resources for the good of Africa and in a balanced manner that contributes to the challenges of the global energy transition.
Quotes for print from Paul Sinclair, CEO, AOW: Energy & Sankofa Events:Statement 1
“I am filled with pride as we bring AOW home to Ghana. This is a truly unique event with over 30years of success. AOW: Energy is the continuation of a vision to create platforms of change for Africa. It’s about taking control of our own energy destiny, setting a new standard, and driving Africa’s narrative forward. Hosting AOW: Energy here in Accra is a powerful step toward that goal, positioning Ghana and Africa as essential players in the global energy sector.”
Statement 2
“I am deeply grateful to the Government of Ghana for their incredible support in making the vision of bring AOW: Energy home to Ghana a reality. This collaboration brings immense opportunities not only for investment in oil, gas, and energy, but it’s also a significant milestone for Ghana’s business tourism and MICE sectors. Together, we are not only hosting an event but also placing Ghana at the heart of the international energy conversation. This will undoubtedly strengthen Ghana’s position on the global stage and create a wealth of opportunities across our nation and broader region as we host the continent in Accra in September 2025.”
Statement 3
“My sincere thanks go to Africa Prosperity Network for their steadfast partnership in bringing AOW: Energy 2025 to Ghana. Their commitment to this initiative, grounded in a shared vision for a prosperous continent, is evident. Together, we are poised to move the needle on energy security for Ghana and for Africa as a whole. With this partnership, we are building a legacy of economic growth and energy empowerment for all Africans.”
Statement 4
“Sankofa Events is steadfast in its commitment to supporting Africa’s economic development. AOW: Energy 2025 will not cease in its mission until we have realized the full potential of our continent’s natural resources. This means local content growth, job creation, industrialization, and regional development. We stand fully committed to this cause, working with our partners, the government of Ghana, all regional governments, regional National Oil Companies and Regulators, and the global private sector to drive meaningful, sustainable growth across Africa.
Statement 5
“We look forward to welcoming the world to AOW: Energy in Accra, Ghana, from the 15th to 18th of September 2025, at the Kempinski Hotel. Together, we will create an event that not only brings Africa’s energy sector into focus, but also paves the way for a prosperous, energy-secure future for our continent. This is Africa’s moment, and we’re honoured to share it with the global community.”
South Africa’s Minister of Mineral and Petroleum Resources Gwede Mantashe has reiterated that the country was committed to developing its oil and gas sector, despite external pressures to transition to a greener economy.
Speaking at the just ended African Energy Week in Cape Town, Mantashe noted that with President Cyril Ramaphosa assenting to the Upstream Petroleum Resources Development Bill, which seeks to accelerate petroleum exploration and development and includes provisions to address unconventional gases like shale gas, South Africa was well on its way to become a competitor in the international oil and gas space.
“While we are getting pinned down not to take these steps, we needed to [explore oil and gas], lift the moratorium on shale gas, as we are still a developing economy.
Whether we lifted the moratorium or not, critics would always be there. Gas is described as a transitional technology…and is part of the green transition,” he stated.
Earlier this year, Mantashe invited written comments on his intention to investigate the Karoo Basin through large-scale land seismic and airborne surveys to explore for oil and gas that may lie below the ground.
The surveys aim to assess geological risks and examine whether there are enough resources to justify extraction.
“[These projects] will improve our gross domestic product by 8%,” he said, noting that across the border in Namibia and Mozambique there have already been significant economic turnarounds with the discovery and development of oil and gas.
Meanwhile, Mantashe emphasized the need to balance economic development with climate change initiatives. “Development and environmental stewardship must coexist…and we must responsibly manage natural resources.
Mine responsibly, drill responsibly, protect the climate, indigenous plants and land, but don’t stop developing. If you stop that, you will have consequences further down the line,” he noted.
Mantashe further noted that he did not expect to see South Africa move away from coal-fired power stations by 2030. “Not in my lifetime,” he said, adding that the country can transition into new technologies, but it should “never dismantle old technologies. I am a great believer of mixed technologies and with coal we have a very strong base load technology.”
Source: https://energynewsafrica.com
Algeria’s National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) has launched licensing bid round for six onshore conventional blocks during the just ended licensing opportunities at African Energy Week in Cape Town, South Africa.
The six high-potential opportunities consist of a mix of exploration, development and export opportunities and are open to competitive bidding.
The round is part of a five-year licensing plan designed to attract global upstream investors and leverage more than 20 opportunities in Algeria.
Following the launch of the licensing round on October 14, access to the tender documents and data packages will open on November 26.
The deadline for bid submissions is April 15, 2025, followed by the evaluation and awarding of bids.
The six opportunities span a cumulative perimeter size of 152,000 km², supported by over 102,000-line km of 2D seismic data and more than
45,000 km² of 3D seismic data. Potential bidders will have access to Perimeter Conditioned Data Packages and Evergreened Data Packages during the data access period, which runs from November 26, 2024, to April 1, 2025.
To submit a bid, participants must prequalify with ALNAFT and acquire the necessary tender documents.
The presentation was followed by a Fireside Chat featuring ALNAFT and the Hydrocarbon Regulatory Authority (ARH), which highlighted the advantages of investing in Algeria’s oil and gas sector.
In addition to being one of the most established markets with strong geological potential, Algeria offers an attractive regulatory framework and various vehicles for partnerships with international oil companies (IOCs).
“We have been working with IOCs for more than 35 years and never had a problem with contract sanctity. In Algeria, a contract is a holy document,” said Mourad Beldjehem, President of ALNAFT.
“We previously had one type of contract for partnership, and now we have three: production-sharing, concession and risk services contracts.”
Algeria is seeking increased upstream investment and capital to drive new exploration activities, while prioritizing broader goals such as energy access, infrastructure development and local content.
“We need more exploration. Today, we have more than 240 discoveries waiting to be developed. We need to make more discoveries to increase our reserves. We are looking for companies who are strong in exploration,” said Beldjehem.
“Africa’s energy priorities are essential to stimulate socioeconomic development – universal access to energy, modernizing existing infrastructure and local capacity building and training to sustain African projects,” said Rachid Nadil, President of ARH.
Source: World Oil
The Group CEO of Nigerian National Petroleum Company Limited (NNPC), Mele Kyari has reiterated the company’s commitment to resolving Nigeria’s energy trilemma, by ensuring energy security, sustainable growth and energy affordability.
Speaking at the opening ceremony of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition themed: “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth and Affordability” in Lagos, on Monday Kyari said the company has perfected plans to deliver 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants soon, as part of efforts to boost the existing 1.6bscf of gas supply for domestic market.
“The energy trilemma is a profound responsibility we shoulder as stewards of Nigeria’s energy future. NNPC Ltd is working tirelessly to improve our supply chain, develop new refining capacities and expand our retail network,” Kyari stated.
According to him, NNPC Ltd is set to collaborate with private refineries to ensure affordable and sustainable petroleum products supply; Naira-for-crude transactions in order to stabilize the local currency and regulate forex markets.
This, he added, will bring about expansion of gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipelines projects and the development of cleaner energy options, such as Liquiefied Natural Gas (LNG) and Compressed Natural Gas (CNG).
“Currently, NNPC Ltd supplies over 1.6 billion standard cubic feet (bscf) of gas per day to the domestic market through infrastructure we either own outright or operate with partners. This distribution network is entirely managed on NNPC Ltd.’s balance sheet,” Kyari added.
Explaining that the Company is expanding its efforts to enhance domestic energy access, the NNPC Ltd helmsman said the next 3-6 months will see significant project launches, including CNG mother stations, mini-LNG plants, and additional CNG daughter stations.
Kyari, who commended President Tinubu’s efforts to relieve forex pressures by reducing fuel imports and strengthening Nigeria’s local refining capacity, emphasized the need for collaboration, innovation, and technology in achieving Nigeria’s energy goals.
“Resolving the energy trilemma requires bold ideas, shared knowledge, and collective determination. Together, let us build a Nigeria where energy is secure, sustainable, and affordable for all.”
On NNPC Ltd’s mandate to guarantee energy security as stipulated by the Petroleum Industry Act, Kyari said the Company has fostered partnerships and investments aimed at enhancing local production and generating revenue for economic diversification.
Reacting to claims that NNPC Ltd is sabotaging the efforts of domestic refineries, Kyari said the NNPC Ltd is part-owners of the Dangote Refinery, stressed further that such investment is a strategic move aimed at strengthening domestic fuel supply.
Source: https://energynewsafrica.com
South Africa’s minister for Electricity Kgosientsho Ramokgopa has confirmed that debt owed to Eskom by municipalities nationwide has grown to R90 billion.
Minister Ramokgopa was speaking at a media briefing on the City of Johannesburg’s R 6 billion debt.
According to him, the debt issue needs to be addressed as this threatens the country’s economy as well as the tariff increase for 2025/26.
In August, the power utility applied for a 36% tariff increase from the National Energy Regulator of South Africa (Nersa), which has been rejected.
Ramokgopa says debt owed to Eskom impacts electricity tariffs.
He says, “It also has got tariff implications, if you look at the tariff submission by Eskom to Nersa and one of the matrices there that gets to be accounted for is at debt levels. So essentially debt has got impact on the tariff.”
Source: https://energynewsafrica.com
QatarEnergy has signed an agreement to buy a 23% working interest in a concession agreement offshore Egypt from the block’s operator Chevron, the state firm of Qatar said on Monday.
QatarEnergy will acquire 23% of the North El-Dabaa (H4) Block in the Mediterranean from Chevron, which will retain a 40% interest in the concession.
The other partners on the block are Woodside with a 27% interest and Tharwa Petroleum Company, an Egyptian state company, with a 10% interest.
The H4 Block lies about 10 kilometers (6.1 miles) offshore the Egyptian Mediterranean shore at water depths ranging between 100 and 3,000 meters (328 – 9,842 ft).
“We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome,” said QatarEnergy’s president and CEO, Saad Sherida Al-Kaabi, who is also Qatar’s Minister of State for Energy Affairs.
This is yet another expansion for QatarEnergy in exploration blocks internationally.
In Egypt, where Western companies including Chevron plan more investments,, QatarEnergy signed earlier this year a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt, while Exxon as operator will retain the remaining 60% working interest.
The Qatari company is also boosting its presence in exploration hotspots such as Namibia, South Africa, and Suriname.
In March this year, TotalEnergies and QatarEnergy expanded their efforts to explore for oil and gas in the Orange Basin offshore Namibia by acquiring a nearby license in the basin in South African waters.
Following completion of the transaction, TotalEnergies will hold a 33% participating interest in Block 3B/4B and assume operatorship, while QatarEnergy will hold a 24% stake.
Then in July, QatarEnergy signed an agreement with Chevron to buy a 20% working interest in a production-sharing contract for block 5 offshore Suriname.
The operator of the block, Chevron, will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname’s national oil company Staatsolie, will own the remaining 40%.
Source: Oilprice.com
The Transmission Company of Nigeria has reported that vandals have again attacked its 330kV Lokoja–Gwagwalada transmission line 1, in the early hours of Saturday, 9th November 2024.
In a statement issued by Ndidi Mbah, Public Affairs Manager of TCN, it said the company’s engineers attempted to re-energise the 330kV Lokoja–Gwagwalada transmission line 1, but the line tripped.
“After efforts to reclose the line failed, a patrol team of TCN linesmen was dispatched to physically trace the line for faults.
“Upon inspection, they discovered that transmission towers T306, T307 and T308 along line 1 had been vandalised, disrupting bulk power transmission along the route.
“Further examination revealed that the vandals had stolen two spans of aluminium conductor from line one,” the statement said.
The Lokoja–Gwagwalada line is a double-circuit transmission line, and while TCN is still supplying bulk power through line two, efforts are underway to source replacement aluminium conductors for the two spans stolen from line one.
The rising trend of vandalism targeting transmission lines and towers has become a significant challenge, severely impacting the country’s power infrastructure and hindering the expansion and stability of the national grid.
This recent incident adds to an alarming pattern of attacks on the transmission network nationwide.
In the Gwagwalada area alone, recent acts of vandalism include the attack on the Gwagwalada–Kukuwaba–Apo transmission line on 10th December 2023, the Gwagwalada–Katampe line on February 26, 2024, and several others on that axis.
Such acts of vandalism continue to disrupt the stability and growth of Nigeria’s national grid.
“We once again appeal to members of the public, especially residents of communities hosting transmission lines and towers, to collaborate with TCN and security operatives in combating this menace.
“Vandalism of power installations is a disservice to us all and undermines efforts to strengthen the nation’s transmission system,” TCN said.
Source: https://energynewsafrica.com
The African Refiners and Distributors Association (ARDA) has demanded an immediate end to the pricing of petroleum products in US dollars by African nations to stem the weakening of local currencies and boost the continent’s economies.
The Association also asked the African countries to build integrated infrastructure to guarantee energy security that is independent of developed countries to stabilise their economies.
The President of ARDA, Dr. Mustapha Abdul-Hamid, who is also the Chief Executive Officer of Ghana’s downstream petroleum sector, National Petroleum Authority (NPA), speaking at the just ended African Energy Week in Cape Town, South Africa, also called for a halt in the export of crude oil from Africa, insisting that the continent is far from meeting its energy security amid rising population.
He argued that by reducing reliance on foreign currencies for energy transactions, African countries could better stabilise their economies, reduce energy import costs and foster long-term energy security.
Dr Abdul-Hamid stressed the need for Africa to refine and use its own resources rather than export raw crude oil only to re-import refined products.
“Nobody puts crude oil in their vehicle or airplane. Everything that generates movement and wealth is a refined product. This underlines the need for closer collaboration between Africa’s upstream and downstream sectors to ensure that the continent fully benefits from its natural resources,” he said.
Dr. Mustapha Abdul-Hamid, President of ARDA
Dr Abdul-Hamid proposed a policy harmonisation, infrastructure integration and regional currency adoption as the three-tier strategy to promote Africa’s energy independence.
He said Africa’s current fuel specifications differ greatly from one country to another, adding that it is a disparity that creates barriers to regional trade and limits cooperation.
“For example, Ghana has a fuel sulfur limit of 50 parts per million (ppm), while several West African neighbours allow levels between 1,500 and 3,000 ppm, making imports challenging and costly.
“Without a harmonised specification across Africa, trade within the continent remains difficult, restricting our ability to collaborate effectively,” Abdul-Hamid stated.
He also emphasised the importance of collaboration among regulatory bodies, national oil companies and governments to develop a unified approach to energy production and distribution.
He added that efforts like Ghana’s policy requiring companies to use locally refined fuel for oil extraction machinery strengthens domestic refinery output.
Dr. Abdul-Hamid advocated for establishing a regional currency that would mitigate the effects of Africa’s dependence on the U.S. dollar.
“Currently, oil marketers in Ghana require US$400 million each month to import refined petroleum products; a demand that constantly pressures the Ghanaian Cedi. Developing a shared currency within regional blocs like West Africa could reduce these pressures and allow us to strengthen our economies,” he suggested.
The Secretary-General of African Petroleum Producers’ Organisation (APPO), Omar Farouk Ibrahim, stressed the need to build robust infrastructure within Africa to reduce dependency on foreign markets.
He cautioned that reliance on imported resources leaves African countries vulnerable to international sanctions and supply disruptions.
“We have vast resources on our continent, yet we often depend on imports for energy. Partnering with neighbouring countries to build the necessary infrastructure can secure our energy needs,” Ibrahim said, adding that developing intra-continental infrastructure is crucial to achieving genuine energy security.
The Chief Executive of Association of Oil and Gas Marketing Companies, Dr. Riverson Oppong, highlighted Africa’s paradox of exporting raw resources while lacking refined products for domestic use.
Oppong pointed out that nearly 90 per cent of Africa’s crude production is exported.
“We have the resources, but we lack access to them because we are locked into a cycle of exporting raw materials and re-importing finished products. This cycle compromises our economic stability and weakens our energy security,” Oppong noted.
He questioned the rationale behind Africa’s continued export of crude oil only to re-import it as refined petrol, a practice he argued weakens local refineries and increases costs.
“During a recent visit to Morocco, I saw a refinery capable of processing 550,000 barrels per day, sitting idle like a ‘white elephant.’ Why are we sending our crude oil to Europe to be refined, only to bring it back to Africa at a premium?” he asked.
Oppong urged African countries to invest in domestic refining capacity and support local refineries to enhance energy self-sufficiency.
Source: https://energynewsafrica.com
Oil Marketing Companies in the Republic of Ghana have adjusted their pump prices for both petrol and diesel for the first pricing window of November, which runs from the 1st to the 16th of November 2024.
Petrol is selling between ¢13.99 and ¢14.99 per litre while diesel is sold between ¢14.99 per litre and ¢15.50.
This follows the continuous depreciation of the local currency, the cedi, against major international currencies, especially the United States dollar, and the rising cost of refined petroleum products on the international market.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
Currently, a US dollar is being exchanged for Gh¢16.50 at the Forex Bureau.
Currently, GOIL is selling petrol (Ron 91) at Gh¢14.64 per litre while petrol (Ron 95) is sold at Gh¢15.59, with diesel being sold at Gh¢15.45 per litre.
Shell is selling petrol at Gh¢14.98 per litre while diesel is sold at Gh¢15.58 per litre.
TotalEnergies is selling petrol at Gh¢14.90 while diesel is sold at Gh¢15.50 per litre.
Star Oil is selling petrol (Ron 91) at Gh¢13.99 per litre while petrol (Ron 95) is sold at Gh¢14.99, with diesel being sold at Gh¢14.99 per litre.
Petrosol Ghana is selling petrol at Gh¢14.49 while diesel is sold at Gh¢15.39 per litre.
Zen Petroleum is selling petrol at Gh¢13.65 per litre while diesel is sold at Gh¢14.04 per litre.
Cash Oil is selling petrol at Gh¢13.99 per litre while diesel is sold at Gh¢14.99 per litre.
Lucky Oil is selling petrol at Gh¢13.98 per litre while diesel is sold at Gh¢14.74 per litre.
Pacific is selling petrol at Gh¢14.39 per litre while diesel is sold at Gh¢14.79 per litre.
Engen Ghana is selling petrol at Gh¢14.50 while diesel is sold at Gh¢15.40 per litre.
Benab is selling petrol at Gh¢13.97 while diesel is sold at Gh¢14.99 per litre.
Frimps is selling petrol at Gh¢14.06 while diesel is sold at Gh¢14.26 per litre.
Allied is selling petrol at Gh¢13.99 while diesel is sold at Gh¢14.99 per litre.
Source: https://energynewsafrica.com
Nigeria’s National Petroleum Company Limited (NNPC) has dismissed reports that the company’s retail outlets in parts of the West African nation are selling adulterated Premium Motor Spirit (PMS), popularly known as petrol.
A statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., said after a viral video clip of someone pouring a dark liquid which he claimed to be Premium Motor Spirit (PMS) purportedly bought from an NNPC retail outlet at Keffi Flyover came to their attention, they investigated the issue but found the claim to be false.
The NNPC said it had carried out spot checks at all its outlets and found this claim to be false.
According to the NNPC, the product was not, and could not have been bought from any NNPC retail outlet as the company does not dispense petroleum products into bottles or jerrycans as displayed in the video.
“NNPC Retail Ltd. does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high-quality, safe and reliable petroleum products are available at its stations nationwide,” he said.
The company urged members of the public to discountenance the spurious claims made in the video and be wary of selfish and unpatriotic elements pushing such narrative as they do not mean well for the country.
“We take pride in maintaining accurate pump integrity with regular inspection and calibration to ensure consistency across our stations nationwide,” the company said.
Source: https://energynewsafrica.com
