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Tag: Ndu Ughamadu

  • NNPC subsidiary declares N15.8bn profit after tax in 2016

    NNPC subsidiary declares N15.8bn profit after tax in 2016

    The Nigerian National Petroleum Corporation ( NNPC ) says Nigerian Gas Processing and Transportation Company Ltd. ( NGPTC ), one of its subsidiary companies, has declared a profit after tax of N15.81 billion in 2016.

    The NNPC disclosed this in Abuja on Sunday in a statement by the corporation’s Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu.

    Ughamadu explained that the profit was due to the write-back of deferred tax of N8.05 billion in 2015 and part of the dividends of the ongoing transformation.

    The Chief Operating Officer and Chairman of NGPTC, Mr Saidu Mohammed, disclosed that the profit before tax for the year ended Dec. 31, 2016 was N24.4 billion as against N20.9 billion in 2015.

    “This represents an increment of 16.8 per cent, while the profit after tax reduced from N22.6 billion in 2015 to N15.81 billion in 2016.

    “Also, earnings per share reduced from N4,510 in 2015 to N3,163 for 2016.

    “The total revenue generated from gas sold and transmitted during 2016 amounted to N219.5 billion as against N155.5 billion in 2015, representing a 41 per cent increase over the previous year,” he said.

    Ughamadu said that the increase was due to revenue generated from application of higher transportation tariff and new commercial customers that came on stream.

    “An overview of NGPTC’s business performance for the year 2016 shows that 307 billion standard cubic feet (bscf) of gas was sold and transmitted as against the planned 463 bscf, thereby achieving 66.4 per cent of its target.

    “The year 2016 also reveals a performance of four per cent below the volume of 319.25 bscf sold in 2015,” the public affairs manager said.

    He noted that the company was confronted with the challenges of incessant vandalism of the Escravos-Lagos Pipeline System 1 (ELPS 1), Trans Forcados pipeline and evacuation bottleneck of condensate in 2016.

    He acknowledged the continued support of NGPTC’s host communities for the sustained peace and tranquility in the company’s areas of operation.

    The NGPTC, formerly Nigerian Gas Company (NGC) Ltd., a fully-owned subsidiary of the NNPC, was incorporated in 1981 and commenced business in 1988.

    NGC was renamed NGPTC in 2016 with a mandate to process and transport natural gas domestically and for export.

    NAN

  • NNPC recommissions Ibadan depot 

    NNPC recommissions Ibadan depot 

    Products supply and distribution have received a huge boost in Oyo State and the South West region of the country, following the re-commissioning of the Ibadan Depot of the Nigerian National Petroleum Corporation (NNPC) yesterday.

    Group Managing Director, Dr. Maikanti Kacalla Baru, who flagged off the resumption of loading operations at the Depot, said the re-commissioning was in fulfilment of the Presidential mandate of revamping the nation’s critical oil and gas infrastructure for the benefit of the citizenry.

    “It is one of the key mandates of the present administration to revamp these abandoned assets and put them back to work for the overall security and improvement of petroleum products supply and distribution for the benefit of all Nigerians,” Dr. Baru stated.

    The GMD noted that Nigeria’s energy supply security is underpinned by a robust pipeline network of over 8000km used for the transportation of crude oil, petroleum products and natural gas, of which NNPC has the largest downstream footprint with over 5,120km of pipeline network and 21 depots spread around the country.

    He, however, expressed dismay that over the years, these critical national assets had become the subject of incessant vandalism, theft and sabotage which result in huge loss of revenue, lives and property as well as serious damage to the environment.

    The corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu made this disclosure in a statement yesterday.

    He quoted Baru as saying that “It is rather unfortunate that any time oil pipelines and associated facilities are vandalized, our ability to supply petroleum products to the nation is hampered, and the livelihood of many law abiding people negatively impacted.”

    He informed that since coming on board, the NNPC has re-streamed a number of its pipelines, leading to a massive resumption of loading operations in Depots within those areas.

    Baru said NNPC had rehabilitated its System 2E (Port Harcourt to Aba), System 2D (Kaduna to Kano) and the Atlas Cove to Mosimi segment of the System 2B pipeline, which has led to the commissioning of Aba, Kano and Mosimi depots.

    While noting that efforts were also underway to re-commission the remaining parts of the System 2B pipeline (Mosimi to Ore depot and from Ibadan to Ilorin depot), the GMD also announced the conclusion of rehabilitation work on the System 2E (Aba – Enugu) pipeline segment.

    “Very soon, these depots will experience the impact of our collective resolve to get the critical infrastructure back on stream,” he added.

    He commended the Oyo State Government for its consistent support over the years, which has immensely contributed to safeguarding NNPC’s Pipeline Right of Way (PROW) that feeds the Ibadan Depot.

    Responding, the Oyo State Governor, Senator Abiola Ajimobi, described the resumption of loading operations in the area as “a great development which would have a major impact on the socio-economic well-being of Oyo people and the entire South West region.

    “Today, I am happy because the resuscitation of this depot has brought about a great impact on our economic value chain which will be seen in commerce, industry and employment generation for our people” the Governor stated.

    Governor Ajimobi also heaped praises on the GMD, calling him “a reformer, transformer as well as an actualiser” who has been working tirelessly to achieve the Corporation’s objectives.

    “Having worked in this place as Area Manager for National Oil back in the eighties, I can tell you that this is the first time in many years that a sitting GMD is giving these facilities the attention they so much deserved,” the Governor noted.

    While assuring the GMD of his support towards securing NNPC’s Pipeline Right of Way (PROW) across the state, the Governor pledged to provide vehicles for security operatives patrolling pipelines within the state.

    In their separate remarks, critical downstream stakeholders of Independent Petroleum Marketers Association of Nigeria (IPMAN), Petroleum Tanker Drivers (PTD) and National Road Transport Owners (NARTO) all commended Dr. Baru for ensuring the re-streaming of numerous depots across the country which has led to the robust product supply and distribution across the country.

    It would be recalled that in May this year, the GMD was in Kano to re-commission the Kaduna-Kano pipeline.

  • Tambuwal appeals to NNPC to explore oil in Sokoto Basin

    Tambuwal appeals to NNPC to explore oil in Sokoto Basin

    Sokoto State Governor, Aminu Waziri Tambuwal, on Wednesday appealed to the Management of the Nigerian National Petroleum Corporation (NNPC), to activate oil and gas exploration campaign in the Sokoto Inland Sedimentary Basin with a view to establishing the volume and value of hydrocarbon deposits there.

    Leading a high-powered Sokoto State delegation to the NNPC Towers in Abuja, he enthused that based on existing exploration records, it is likely that renewed search for oil in the basin would yield some positive results in the nearest future.

    While commending the current administration for re-invigorating the quest for oil in the new frontiers, Hon. Tambuwal noted that the successful search for hydrocarbon deposit in the basin would go a long way in increasing the nation’s oil reserve with the attendant value addition.

    The NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu that disclosed this in a statement yesterday quoted Baru as saying that: “We are here more on an advocacy visit to your office, Mr. GMD, to kindly request for your intervention and attention for the office in charge of frontier exploration to pay attention to Sokoto basin just the way attention is being paid to other basins in the country.”

    The governor invited the NNPC GMD and top Management to a conference in Sokoto sometimes in October 2017 which is being facilitated by the Petroleum Technology Development Fund, PTDF in collaboration with the Usman Dan Fodio University.

    He said the conference would thoroughly x-ray the search for oil in the Sokoto basin.

    Governor Tambuwal also commended the GMD for recent successes in the Corporation especially the stability in the supply and distribution of petroleum products across the country.

    Responding, Group Managing Director of the NNPC, Dr Maikanti Baru explained that the Corporation, without any prompting has since embarked on properly and professional exploration of all inland basins in the country including the Sokoto basin.

    He noted that the NNPC had already procured aeromagnetic data on the Sokoto basin from the Nigerian Geophysical Survey as well as awarded contract for the mapping and procurement of apt samples to further the understanding of the area.

    Dr. Baru informed that the NNPC has contracted its subsidiary, Integrated Data Services Limited, IDSL to carry out various geochemistry investigation to boost the gathering and integration of all relevant data ahead of the planned procurement of seismic 2D data position which would, in turn, determine various prospects.

    The GMD also pledged to attend the forthcoming seminar on the Sokoto basin, noting that the Corporation would use the platform to update and also share its knowledge of the basin with relevant stakeholders. 

    On the noticeably limited disruptions in the supply of petroleum products due to the recently aborted labour strike, the GMD informed that the issues raised by labour have since been settled. He said normal loading activities have resumed in those areas affected by the industrial action.

  • NNPC: Jetty fire will not affect supply of products

    NNPC: Jetty fire will not affect supply of products

    The Nigerian National Petroleum Corporation (NNPC), Monday assured motorists and other consumers of petroleum products nationwide that the fire incident which occurred at Apapa loading jetty at the early hours of Monday will not affect supply of petroleum products.

    The Group General Manager, Group Public Affairs Division, Ndu Ughamadu that disclosed this in a statement said that already, NNPC has deployed a team of engineers to the jetty while the repair of the affected parts would commence immediately.

    The fire was sparked from the activities of hoodlums who were scooping fuels spilled from ships discharging fuels at the jetty.

    NNPC Group Managing Director, Dr. Maikanti Baru, who has been fully briefed on the incident, described the occurrence as unfortunate, assuring that NNPC has more than 1.6billion litres of Premium Motor Spirit (PMS), otherwise called petrol, enough to last for 48 days.

    Baru also said the Corporation also had in stock, sufficient quantity of Automotive Gas Oil (AGO), also known as diesel, Dual Purpose Kerosene (DPK), otherwise referred to as kerosene, as well as Aviation Turbine Kerosene (ATK) to serve the country.

    NNPC advised motorists not to engage in panic paying, adding that they report any challenge they may have in the course of purchasing to the Department of Petroleum Resources (DPR) which is statutorily empowered to deal with such issues.

    DPR has offices located in all parts of the country.

    Meanwhile, the government is working assiduously to arrive at an amicable resolution of outstanding issues with the industry unions.

  • 50% of NNPC staff undergo anti-fraud training

    50% of NNPC staff undergo anti-fraud training

    The Nigerian National Petroleum Corporation (NNPC) will equip 50 per cent of its work force with requisite knowledge on how to identify and examine fraud as part of measures to stamp out corruption from its system.

    The Group Managing Director of the NNPC, Dr. Maikanti Baru, made this commitment on yesterday in Abuja while receiving a delegation of the Association of Certified Fraud Examiners (CFE), Abuja Chapter, led by its President, Mr. Ishili Emmanuel.

    The GMD said training staff on fraud examination would ensure that NNPC was not involved in the five per cent annual global revenue loss to fraud.

    A statement of the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu disclosed this in a statement yesterday.

    The statement quoted Baru as saying that: “We will seize the opportunity offered by the CFE to train at least 50 percent of our staff on fraud examination. We do know that there are a lot of advantages in getting as many staff as possible trained in fraud examination.”

    He explained that as the major foreign exchange earner for the country, NNPC was very conscious of issues of corruption in all its ramifications and had gone beyond looking at corruption in terms of money alone.

    “NNPC under my leadership has instituted what we call Governance, Risk and Compliance Division which is very much in line with the mission of CFE. The Division is not only looking at corruption in terms of naira and kobo but also at the system itself. The new Division will ensure that fraud did not manifest in our system and if does, it would be quickly nipped in the bud,” he said.

    He stated that corruption was a major waster of human resources as staff found culpable were usually prosecuted and sacked, adding that it was better to train them on fraud and safeguard them.

    The GMD said the Corporation was at the vanguard of providing support to anti-corruption agencies in the country by providing them with necessary information on cases involving its employees and other relevant third parties.

    “We have been using the anti-corruption bodies effectively. Particularly, we have very strong collaboration with the ICPC,” the GMD stated, stressing that during his stint as the Chairman of the NNPC Anti-corruption Committee, they saw the need to train and certify fraud examiners which was why the current and long-standing secretary of the committee was a certified fraud examiner with about ten others that have completed their training and were awaiting certification from the American body.

    The GMD directed the GRC Division to immediately commence the process of registering NNPC as a corporate member of the CFE, urging the body to avail the corporation of all the opportunities therein in its fight against corruption.

    Speaking earlier, the President of CFE, Abuja Chapter, Mr Ishili Emmanuel, stated that the NNPC as the apex oil and gas company in the country ought to have a robust human asset capability to deal with many of the unique socio-economic development challenges within the oil and gas industry.

    He applauded the GMD for his tenacity and commitment to fighting corruption since assuming duty as the helmsman of the corporation.

    Mr. Emmanuel stated that by joining the CFE as a corporate member, the NNPC stood to benefit from the pool of unlimited anti-fraud resources like other world class organizations around the world.

    He explained that the membership of the anti-corruption body would make a bold statement about the Corporation’s integrity, capacity and willingness to entrench the culture of transparency and anti-corruption in its system.

    The GMD was also conferred with a fellowship of the association and decorated with its prestigious lapel pin.

  • NNPC increases gas to power by 123% 

    The Nigerian National Petroleum Corporation (NNPC) has increased daily average natural gas supply to the nation’s gas power plants by 123 per cent to 730 million standard cubic feet per day (mmscf/d).

    The Corporation, in its June 2017 Monthly Financial and Operations Report released on Tuesday, said the gas supply was for June 2017 as against 327mmscf/d in the corresponding period in 2016.

    According to the report, gas supply to power plants increased slightly by 0.13 per cent from 729mmscf/d in May 2017 to 730mmscf/d in June 2017.

    This was contained in the statement that the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu issued in Abuja.

    The report also indicated that nationwide petroleum products supply continued to record remarkable stability following the performance of Nigeria’s three refineries which produced between five and six million litres of Premium Motor Spirit (PMS), also known as petrol, per day in June 2017.  

    The refineries also produced between five and six million litres of Automotive Gas Oil (AGO), also known as diesel, per day in the period under review.

    “The Corporation has maintained seamless nationwide supply and distribution of petroleum products which guarantees stable products and queue-free filling stations across the nation,” the report stated.

    The report also showed that the performance of the Port Harcourt Refinery continued to improve with a boost to the midstream value chain as it inched towards sustained commercial operations.
     
    It would be recalled that the pump price of diesel crashed by 42% nationwide following strategic intervention by the Corporation in May 2017.
     
    On pipeline vandalism, the report indicated that the Corporation recorded about eighty-six (86) cases of pipeline breaks across the country in the period under review. 
     
    According to the report, out of these 86 cases, 77 were due to pipeline vandalism, which represents almost 40% increase relative to cases recorded in the previous month (May 2017). 
     
    The report added that while the Port Harcourt-Aba line recorded the highest pipeline breaches of 55 points (66%), there was also an unusual upsurge in the activities of vandal along Kaduna-Zaria line which witnessed 13 vandalized points during the period.
     
    There was also a slight decrease in national gas production compared to previous month, which stood at 227.15BCF or an average of 7,571.50 mmscfd, the report noted.
     
    This, the Corporation explained, was despite sustaining the success recorded by its enhanced crude oil evacuation and oil lifting in June 2017 following re-opening of Forcados Oil Terminal (FOT) on March 31st, 2017. 

    The NNPC further called on Nigerians to continue to support the Corporation in the area of security with a view to ensuring zero vandalism of the nation’s oil and gas infrastructures.

    The June 2017 report is the 23rd edition in the series, which seeks to sustain effective communication with the Corporation’s stakeholders in line with its commitment to becoming more accountable, responsive and transparent organisation.

  • NNPC seeks deeper collaboration on health care development with India

    NNPC seeks deeper collaboration on health care development with India

    The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru has called for a deeper collaboration with India to revitalize  the corporation’s 52 clinics across the country.

    A statement by NNPC Spokesperson, Mr Ndu Ughamadu said Baru made the call on Thursday in Abuja, when he received the Indian High Commissioner, Mr Nagabushana Reddy.

    He said that the call was part of NNPC’s efforts to kick-start its diversification into the health care business.

    Baru said the corporation would reduce the trend of medical tourism from Nigeria to various countries.

    The NNPC boss said the corporation was already discussing with some Indian health care providers to come into the Nigeria and help grow the capacities of its medical staff.

    This, he said, was aimed at putting in place world class health care facilities in the country.

    He urged the high commissioner to encourage Indian oil and gas companies to participate in the forthcoming marginal fields bid round, adding that their participation would further deepen the bilateral relations between Nigeria and India.

    According to him, there is a symbiotic commercial relationship between the Nigeria and India, which has led to the increase of daily crude oil supply to India to 30,000 barrels per day in 2017.

    “We recognise that India is one of the highest off-takers of Nigeria’s crude oil and we are ready to ensure that this harmonious economic relationship is sustained,” Baru said.

    Responding, Reddy said India and Nigeria had high bilateral relations, adding that India was ready to further expand the collaboration in economic, trade, commerce and security.

    He said that India was one of the highest importers of Nigeria’s crude oil.

    He commended the NNPC for keeping to the terms of the contracts with three of its indigenous companies, adding that his visit was to further consolidate the gains of previous engagements.

  • Indonesia seeks more crude from Nigeria – Ambassador

    Indonesia seeks more crude from Nigeria – Ambassador

    Indonesian Ambassador to Nigeria, Mr Harry Purwanto, on Wednesday indicated his country’s interest to purchase more crude oil from Nigeria.

    Purwanto declared the South-East Asian country’s interest in Abuja when he paid a courtesy visit to the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr Maikanti Baru.

    In a statement signed by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs Division, Purwanto, said Indonesia looked forward to lifting crude oil directly from Nigeria, rather than through a third-party as is currently the case.

    He said his country’s president Joko Widodo, had instructed Indonesia National Oil Company, Pertamina, to direct its attention to Nigeria in its quest to meet that country’s surging energy needs.

    Purwanto, according to the statement, extended an invitation to the NNPC to grace the Indonesia-Nigeria Business Forum holding in Lagos.

    The statement said a Memorandum of Understanding, on possible areas of co-operation between the two countries was in the works.

    Ughamadu said the call by the ambassador signified the prospects of soaring Nigeria’s market share in Asian emerging economies which include China and India, having lost grounds in crude oil sales in the U. S. due to shale oil exploration.

    He said although Indonesia produced 900,000 barrels of crude oil per day, it supplements its 1.4 million barrels per day consumption with supplies from Nigeria, 18 per cent and Saudi Arabia, 28 per cent.

    In his response Baru said NNPC was interested in working with Indonesia on its initiative to replace firewood and kerosene with Liquefied Petroleum Gas (LPG) as primary domestic fuel for cooking.

    He acknowledged that the corporation was aware of the huge success of the kerosene substitution programme in Indonesia and would like a collaboration to help Nigeria achieve a similar feat.

    Baru added that the NNPC would like to partner with Indonesia in the area of bio-fuels production to diversify the nation’s energy mix and meet its energy needs.

    He challenged Indonesia to consider participating in an upcoming bid round in order to realize its aspiration of maintaining a presence in the Nigerian oil and gas sector.

  • NNPC to resume oil exploration in Chad Basin in six weeks

    NNPC to resume oil exploration in Chad Basin in six weeks

    The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru says oil exploration activities in the Chad Basin will resume in six weeks time.

    Baru made this known in a statement issued by the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu.

    Baru said the resumption of oil exploration activities became necessary following improved security in the North East.

    The NNPC boss said this when he visited Gov. Kashim Shettima of Borno State and the Shehu of Borno, Alhaji Abubakar El-Kanemi in Maiduguri.

    “We have been discussing with military authorities in the area and they have assured us of improved security.

    “Once they give us the green light, we would resume operations in the area within six weeks,” Baru, who was represented by the Chief Operating Officer, Gas & Power, Mr. Saidu Mohammed, said.

    Baru informed the governor that NNPC was keen on increasing its production from 1.9 million barrels per day (bpd) to three million bpd as well as increasing its oil and gas reserves, a target that necessitated exploring for more oil within and across some of the nation’s inland basins.

    He commended the efforts of President Muhammadu Buhari and Shettima for restoring peace, reconstructing and rehabilitating the region, adding that the Corporation was ready to provide support in that regard.

    Baru appealed to the Shehu of Borno to prevail on his people to show oil exploration activities resumes.

    Highlight of the visit was the presentation of relief materials by Baru to the Shehu for Internally Displaced Persons (IDPs) in the state.

    Responding, Shettima said the insurgency had taken a huge toll on the North-East region leading to the loss of more than 9.6 billion dollars, with Borno state alone losing 5.6 billion dollars.

    “We need your support in our reconstruction and rehabilitation efforts, so that when the history of the new Borno is written, NNPC’s name will be written in gold,” he said.

    Shettima said while international donour agencies and good-spirited organisations like the NNPC were keen on helping the IDPs, the state’s ultimate target was to resettle the IDPs in their various communities.

    Also speaking, the Shehu of Borno commended the NNPC for identifying with the Borno people and expressed happiness over the prevailing peace across the state and the entire North East.

     

  • 37 companies bid for NNPC fire-fighting trucks supply

    37 companies bid for NNPC fire-fighting trucks supply

    No fewer than 37 companies have submitted bids to supply firefighting trucks to Nigerian Pipelines and Storage Company (NPSC), a downstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC).

    The NNPC stated this in a statement in Abuja on Wednesday by Mr Ndu Ughamadu, its Group General Manager, Public Affairs Division.

    The corporation said that the bid would lead to the procurement of six firefighting trucks that would replace the non-functional and old trucks in its fleet.

    “The public bid opening is part of NNPC’s avowed commitment to openness and transparency aimed at transforming the corporation into a focused, accountable, competitive and transparent organization, conducting its business with Integrity.

    “The firefighting trucks, when procured, would reduce to the barest minimum, the incidences of fire outbreak in the 21 depots across the country,” it said.

    The Nigerian Content Development and Monitoring Board, the Bureau of Public Procurement and several Civil Society Organizations were on hand to observe and ensure strict compliance to due process in the exercise.