Thursday, 30 April 2015

Seven Energy Begins Supply of Gas to Calabar NIPP

Gas supply to facilitate addition of 560MW of additional generation capacity into the grid

Image result for uquo gas plant

Seven Energy International Limited (“Seven Energy”), the indigenous Nigerian integrated gas Company has commenced the supply of gas to the 560 MW Calabar National Integrated Power Project (“NIPP”). The commercial delivery of gas to Calabar NIPP commenced in March 2015, and is being executed through Accugas, a wholly-owned subsidiary of Seven Energy. When operating at full capacity Calabar NIPP will increase national power generation by over 10%.  

Gas is being supplied to the power plant from Seven Energy’s Uquo Gas Processing Facility in Akwa Ibom State through the Seven Energy pipeline network. The gas supply will enable the power plant to complete commissioning and start delivering electricity into the national grid.

Commenting on the achievement, Phillip Ihenacho, Chief Executive Officer, Seven Energy, said; “Delivering a cost effective and reliable gas supply is critical to providing sustainable power supply into the national grid to meet the government’s reform objectives and to facilitate industrial development. I am delighted that our ability to deliver an indigenous gas solution, from end to end is now being recognised by a broad range of industrial and power sector customers. Not only will the gas we supply drive enhanced power generation, but when combined with improvements in transmission and distribution it will also facilitate industrial and commercial developments which will have a far reaching impact throughout the community, stimulating industry and generating employment as a result.”

Steve Tierney, Managing Director, Accugas said “The Calabar NIPP is a major power plant in Calabar  and a further endorsement of the quality and reliability of our services. Our strong capability across the region with ownership of gas reserves and pipeline infrastructure have enabled us to commercialise our gas assets, delivering a solution that the market has been demanding for many years. We are ready and look forward to adding more customers to our network across the South East of Nigeria, bringing affordable and reliable gas to a wider audience.”

Seven Energy has continued to champion an industrial gas revolution through the development and production of natural gas, and, critically, its commercialisation through investment in processing and distribution infrastructure, where the Company has invested over $1 billion in the south east region of the Niger Delta in the last 5 years.

With significant capacity built into its distribution infrastructure, the Company is capable of providing a long-term supply of gas to additional off takers for power generation and for local industry.

Since the commissioning of the Uquo Gas Processing Facility in 2014, Seven Energy has begun the supply of gas to other off takers such as the Ibom Power Company, Notore Chemical Industries Limited and the United Cement Company of Nigeria, also in Calabar.

Tuesday, 28 April 2015

MOBIL ABSOLVES SELF FROM OIL SPILL AT IBENO QIT

Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC), has said that the suspected oil spill that sparked protest from the youths of its host community was not from any of its facility.

The Manager, Media and Communication, ExxonMobil, Mr. Ogechukwu Udeagha, offered the explanation yesterday, while responding to questions from Thisday.
 

NNPC ADVOCATES QUICK REFORM TO MITIGATE OIL REVENUE EROSION

The Nigerian National Petroleum Corporation (NNPC) has proposed immediate reforms that would reduce Nigeria’s seeming over reliance on oil revenue to offset over 85 per cent of her national expenditure.
NNPC Advocates Quick Reform to Mitigate Oil Revenue Erosion
 NNPC explained that a structural reform of Nigeria’s public finance model to insulate her oil industry from serving as a source of economic rent instead of an economic enabler to all other sectors of the economy, should first be pursued by the federal government now that the global price of crude oil is at a low ebb.
 

SHELL AND TOTAL DELAY WEST AFRICA PROJECTS AFTER OIL PRICE ROUT

Royal Dutch Shell and France's Total have delayed multibillion-dollar offshore oil projects in west Africa as part of efforts to rein in costs and shore up cash flow following the collapse in crude prices.

MISSING' $20BN OIL MONEY: I HAVE NOTHING TO HIDE, JONATHAN TELLS BUHARI

President Goodluck JonathanPresident Goodluck Jonathan on Monday said his administration had nothing to hide in respect of the claim by a former Central Bank of Nigeria Governor, Lamido Sanusi, that $20bn oil money was not remitted to the Federation Account by the Nigerian National Petroleum Corporation.
 
To prove this, he said he had directed that the full report by PriceWaterHouse which was commissioned to carry out a detailed investigation into the activities of the NNPC be made public immediately.
 

Monday, 27 April 2015

UNCERTAINTY LOOMS AS FUEL MARKETERS RUN OUT OF STOCK TODAY

There are indications that fuel marketers and importers would run out of stock for Premium Motor Spirit (PMS), otherwise known as fuel at the Apapa Depot and filling stations across the country due to the inability of the Federal Government to meet subsidy obligations of over N356.2 billion.

Read more @ Guardian Online

HOPE DIMS FOR PIB AS LEGISLATORS WIND DOWN

Oil workers on dutyThe promoters of the Petroleum Industry Bill anticipate that it will bring sanity into the oil and gas sector by ensuring transparency and a new fiscal regime but the hope that it will be passed soon is fading fast.
 
The Petroleum Industry Bill looks set to suffer the same fate that befell it during the 6th National Assembly as the end of the current legislature’s tenure is just a month and few days away.