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Tag: NNPC

  • NNPC, Shell’s Cradle-to-Career scholarship beneficiaries hit 375

    Another 108 Nigerians have been awarded secondary education scholarship under the NNPC/SNEPCo National Cradle-to-Career (NC2C) Scholarship scheme, launched in 2014. This is bringing the beneficiaries in the last four years to 375.

    The scholarship, administered by Shell Nigeria Exploration and Production Company (SNEPCo), offers full boarding and tuition-free support to the beneficiaries throughout their education in top-rated private secondary schools across Nigeria.

    “This is part of our wider social investment programmes to support Nigerian youths, particularly the less-privileged, to attain the height of their potential notwithstanding their socio-economic background,” said the Managing Director of SNEPCo, Bayo Ojulari, at the award ceremony at Grundtvig International Secondary School in Onitsha, Anambra State.

    Ojulari, who was represented by the company’s Bonga Asset Operations Manager, Elohor Aiboni, said SNEPCo, with the support of the NNPC and its co-venture partners was committed to providing opportunities for Nigerian youths not just in education, but in entrepreneurial training and empowerment as demonstrated by SNEPCo’s other social investment programmes across the country.

     

     

  • Total, NNPC commission solar system in centre for ‘special children’

    Energy giant, Total, the Nigeria National Petroleum Cooperation ( NNPC ) and other ancillary companies have commissioned alternative energy, solar system at the Don Guanella Center at Nnebukwu community in Oguta Council Area of Imo State.

    The Center operated by the Catholic Church, houses mentally deranged children and those living with down syndrome, as well as homeless old people.

    With the commission of the solar system, the Centre will now have 24 hours uninterrupted power supply, which will ease the plight of the inmates and reduce the of running the centre.

    Speaking at the commissioning, the Catholic Priest in charge of the Center, Reverend Father Jude Anamelechi, commended Total and the NNPC for the gesture, which he described as a huge relief.

    According to the cleric, “the installation of the multi-million naira solar Energy has provided a big relief to the center in the area of power supply. It has greatly improved the lives of our children here in the center especially the fact of aiding in the management of health crises at night. The project has reduced the cost of powering the center and eliminated pollution caused by the use of diesel”.

    He however appealed to the companies to do more and extend the solar to power  the borehole, stating that “with the type of children we have, water is very much important for their hygiene”

    The Priest disclosed that the Center had been in existence for 26 years, “Don Guanella Center belongs to the congregation founded by Saint Luigi Guanella, an Italian Priest. We rehabilitate mentally and physically challenged children.

    “These are children who deserve to live and enjoy life like others but are facing serious health challenges like epilepsy, Down syndrome, cerebral palsy and autism.

    “We have special school, the physiotherapy, occupational therapy and others. In our Guanella tradition we strongly believe that disability is never inability, therefore we help our children to discover the hidden capacities in them.

    “Ours is to reawaken in them and in the society the consciousness that every human being even those less gifted by nature have something to
    offer to the society.

    “With the recent admission, we have forty children (6 day care and 34 boarders) and some others are in their families because of the limited financial resources of the center to provide their ever increasing needs, which include feeding, clothing, medical, speech therapist, physiotherapist among others”.

    Read Also: Minimum Wage: No agreement on N30,000, Says FG

    Speaking at the occasion, shortly before the commissioning, the Managing Director, Total Upstream Companies in Nigeria, Mr. Nicholas
    Terraz, represented by the Head of Corporate Affairs, Abiodu Afolabi, said, ” we are contributing to the realization of the United Nations Sustainable Development Goals, SDGs. Number three and seven, which talk about ensuring good health and well-being as well as provision of cleaner, affordable, reliable, sustainable and modern energy”.

    He added that, “Two months ago, we embarked on the construction of this Solar solution project in fulfillment of the these goals andtoday, we are happy to hand over a project capable of generating 246MWH of electricity annually through the use of solar photovoltaic (PV) panels.

    “Each of the five buildings in the Centre is provided with solar power and run independently. With the completion of this project, the
    institution will depend less on diesel generators for its electrical needs, thus reducing environmental pollution as well as operational cost and this will leave more funds available to meet the other needs of the residents.”

    In her speech, a representative of the Imo state governor, Rochas Okorocha, Mrs Ama Eluwa, Permanent Secretary Ministry of Gender and Social Development, said, “indeed children are the leaders of tomorrow. They are the strength of a nation. They are the pride of the people. It is on this continent that children suffer immensely from abuse and neglect. Care and concerned for all children is the hallmark of a civilized nation.

    “In my capacity as the permanent secretary of Gender and Social Development, this one the institution that is under our supervision.

    “Our joy knows no bound as we see light not just for one hour but for 24 hours to help in taking care of our children.”

  • Oil, gas export sales hit $416 million, says NNPC

    • Oil slips to $86.14 per barrel amid Russia/ Saudi deal

    Nigeria realised  $416.07 million from crude oil and gas export sales in June, 2018, which is 35.78 per cent higher than the previous month’s.

    Details of the sales figures are contained in the June 2018 edition of the Monthly NNPC Financial and Operations Reports, released yesterday. The data indicated that crude oil export sales contributed $274.95 million,  translating to 66.08 per cent of the dollar transactions, compared with $244.72million contribution in the previous month.

    The gas export sales for the month amounted to $141.12million, the report said.

    The 35th Edition of the Monthly NNPC Financial and Operations Report indicated that the Corporation undertook the repairs of ruptured gas pipeline supplying gas to most thermal electricity generating plants in the country, leading to appreciable leap in power generation.

    In all, a total of 744million standard cubic feet of gas per day (mmscfd) was delivered to the gas fired power plants in the review period to generate an average power of about 2,970Mw, compared with May 2018, where an average of 742mmscfd was supplied to generate 2,940MW.

    The corporation’s statement that was made available in Abuja said that a total of 211.51billion cubic feet (bcf) of natural gas was produced in the month of June 2018, translating to an average daily production of 7,056.22mmscfd.

    For the period between June 2017 and June 2018, a total of 3,080.90 bcf of gas was produced, representing an average daily production of 7,826.41mmscfd.

    During the period under review, Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 69.35 per cent, 21.77 per cent and 8.88 per cent respectively, to the total national gas production.

    Out of the 209.55bcf of gas supplied in June 2018, a total of 113.08bcf of gas was commercialized, comprising of 36.23bcf and 76.85bcf for the domestic and export market respectively.

    This translates to a total supply of 1,207.74mmscfd of gas to the domestic market and 2,561.70 mmscfd of gas supplied to the export market for the month, implying that 53.96 per cent of the average daily gas produced was commercialized while the balance of 46.04 per cent was re-injected, used as upstream fuel gas or flared.

    The gas flare rate was 10.33 per cent for the month under review.

    Brent crude price, yesterday, slipped to $86.14 per barrel, following a deal between Saudi Arabia/ Russia to raise output.

    This, coupled with the decision by U.S to sanction Iran in November this year, a development, which would see Iran cutting down supplies to the market.

    Brent crude was traded at $86.74 per barrel on Wednesday, after which the product lost 15 cents or 0.2  per cent.

    Data from crude oil futures shows a much more significant than expected increase in U.S inventories, a development, which that oil prices would tumble,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

    US crude oil stocks rose by nearly 8 million barrels last week to about 404 million barrels, the biggest increase since March 2017, Energy Information Administration data showed on Wednesday.

    US weekly Midwest refinery utilization rates dropped to 78.9 per cent, their lowest since October 2015, according to the data.

    Meanwhile, US crude oil production remained at a record-high of 11.1 million barrels per day (bpd).

    “This on top of the other big news of the day from Riyadh that … Saudi Arabia and Russia will boost output,” Innes said.

     

     

    , that is, 721.83mmscfd, compared with the average gas flare rate of 10.4per cent, that is,  813.37mmscfd for June 2017 to June 2018.

    In the downstream sub-sector, 1,194.93million litres of petrol were supplied into the country through the Direct-Sale-Direct-Purchase (DSDP) arrangements as against the 1,096.45million litres of petrol supplied in May 2018.

    The petroleum products (petrol, diesel & kerosene) production by the domestic refineries in June 2018 amounted to 205.73million litres compared to 161.91million litres in May 2018.

  • NNPC records N18.12b monthly surplus

    The Nigerian National Petroleum Corporation (NNPC) said it recorded a trading surplus of N18.12billion for the month of May, 2018. This performance is relatively higher than the trading surplus of N17.16billion recorded in the preceding month.

    Details of the transactions contained in the recently released May 2018 edition of the Monthly NNPC Financial and Operations Reports, also indicated that the additional monthly trading surplus of N0.96billion was mainly due to increased performance of some of the corporation’s subsidiaries namely: the Nigerian Petroleum Development Company (NPDC), Petroleum Products Marketing Company (PPMC), Nigerian Pipelines and Storage Company (NPSC) and Marine Logistics.

    The report indicated that within the period, NNPC Group performance was mainly impacted by NPDC’s output which recorded a favorable variance of N18.22billion due to increase in revenue with parallel decrease in expenses. This resulted in N20.93billion net increase in the upstream gas & power surplus.

    The Corporation’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, stated this in a release yesterday.

    Overall, the report indicated that the increase in performance was bolstered by the relatively high production volumes of 1.97 million barrels per day in April, 2018 which was sold in May, thereby reducing cost per unit.

    The report noted that under the national crude oil and natural gas production, lifting and utilisation segment, 58.96 million barrels of crude oil and condensate were produced in April 2018, representing an average daily production of 1.97 million barrels. This represents 1.02 per cent increase compared to the preceding month.

    A breakdown of the production figure showed that Joint Ventures (JV) and Production Sharing Contracts (PSC) contributed about 32.82 per cent and 41.77 per cent accordingly, while Alternative Financing (AF), NPDC and Independents accounted for 14.68 per cent, 7.65 per cent and 3.08 per cent apiece.

    It was also indicated that the NPDC’s cumulative production from all fields within the period amounted to 47,759,229 barrels of crude oil which translated to an average daily production of 120, 909 barrels per day.

    In terms of national gas production, the 34th NNPC Financial and Operations Report, indicated that 231.59 Billion Cubic feet (BCF) of natural gas was produced in the months of May, 2018, translating to an average daily production of 7,785.01 Million Standard Cubic Feet per day (MMSCF/D).

  • NNPC announces N18.12bn trade surplus

    The Nigerian National Petroleum Corporation (NNPC) says it made a trade surplus of N18.12 billion in the month of May, higher than N17.16 billion in April 2018.

    The Corporation made the disclosure in a statement signed by its Spokesman, Mr Ndu Ughamadu in Abuja on Monday.

    He said details of the transactions was published in the corporation’s May 2018 edition of the Monthly Financial and Operations Reports.

    He noted that the report indicated that the additional monthly trade surplus of N0.96bn was mainly due to increased performance of some of the corporation’s subsidiaries.

    He named the subsidiaries to include the Nigerian Petroleum Development Company (NPDC), Petroleum Products Marketing Company (PPMC), Nigerian Pipelines and Storage Company (NPSC) and Marine Logistics.

    “Within the period, the NNPC Group performance was mainly impacted by NPDC’s performance which recorded a favorable variance of N18 billion due to increase in revenue with parallel decrease in expenses.

    “This resulted in N20.93billion net increase in the upstream gas and power surplus,’’ he said

    He added that the report indicated that the increase in performance was bolstered by relatively high production volumes of 1.97 million barrels per day in April, which was sold in May, thereby reducing cost per unit.

    Under the national crude oil and natural gas production, lifting and utilisation segment, Ughamdu said the report noted that 58.96 million barrels of crude oil and condensate were produced in the month of April.

    This, he said, represented an average daily production of 1.97 million barrels.

    A breakdown of the production figure indicated that Joint Ventures (JV) and Production Sharing Contracts (PSC) contributed about 32.82 per cent and 41.77 per cent, while Alternative Financing (AF), NPDC and Independent producers accounted for 14.68 per cent, 7.65 per cent and 3.08 per cent.

    Ughamdu noted that the report also indicated that the NPDC cumulative production from all fields within the period amounted to 47,759,229 barrels of crude oil which translated to an average daily production of 120, 909 barrels per day.

    On national gas production, the report stated highlighted that 231.59 Billion Cubic feet (BCF) of natural gas was produced in the months of May, translating to an average daily production of 7,785.01 Million Standard Cubic Feet per day (MMSCF/D).

    “In the downstream sub-sector, NNPC continued to ensure increased petrol supply and effective distribution across the country.

    “ In May, 1.19 billion litres of petrol was supplied by NNPC, translating to 40.59mn Liters/day to sustain seamless distribution of petroleum products which resulted to zero fuel queue across the nation.

    “In the month under review, the corporation continued to monitor petrol evacuation figures from depots across the nation, and engaged, where necessary, the Nigerian Customs Service (NCS) and other stakeholders through existing Joint Monitoring Team,’’ He added (NAN)

  • N650b debt: Oil marketers urge Govt to hasten payment

    Oil marketers have appealed to the Federal Government to hasten payment of the over N650 billion fuel imports subsidy arrears owed them (marketers) over the years to save their assets from being taken over by banks.

    The marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMAN), Independent Petroleum Products Importers (IPPIs) and Independent Petroleum Marketers Association of Nigeria (IPMAN) made the appeal in Lagos.

    The Executive Secretary of DAPPMAN, Mr. Olufemi Adewole, who spoke on behalf of the marketers, also urged the government to lessen the bureaucracy involved in the payment process.

    Adewole said the inability of the Federal Government to pay the debt had resulted to massive job losses in the downstream subsector of the oil and gas industry and had affected the marketers’ business operation.

    Adewole said that 60 per cent of marketers had been forced out of business as banks had taken over their depots, assets and properties due to their inability to pay back monies borrowed to import fuel.

    According to him, many marketers were forced out of business, others struggling to survive due to the government’s inability to settle the subsidy arrears. The development, he said, had been threatening investment in the downstream subsector.

    The DAPPMAN chief said, although, the Federal Government had earmarked money to clear the debts, yet the marketers had not been paid. “The debt has had very adverse effects on our operations. I am aware of two depots that have been forcibly taken over by banks because they got injunctions from the courts. They did so the moment they heard that the National Assembly approved payment of the debt to marketers. Unfortunately, as at September 27th 2018, the money is yet to get into our accounts.

    “Another challenge we have is that many of the marketers have to lay off more than 90 per cent of their staff because of financial constraints,” he said.

    Read Also: Oil firm to acquire N7.2b floating vessel

    Adewole, however, said the government had promised that part of the money would come as promissory note and cash. According to him, the information gathered was that the government may pay only in promissory note. It means you have to go back and discount this promissory note in the bank. This means we are losing because the money has been delayed and this adds up the interest to be charged on our accounts. The interest came about as a result of devaluation of naira from N197 to N285 a dollar. Also what was approved to be paid is not the actual amount the government owes us. The interest came about as a result of devaluation of naira from N197 to N285 to a dollar.

    An independent marketer urged the government to deregulate the downstream sector, adding that deregulation would curb the huge amount of money spent on subsidy. According to him, marketers have run out of cash and their businesses are gradually going moribund. “No marketer can import petrol with the present price differential. We cannot buy fuel at N174 per litre at the international market and sell at N145 without being paid the differentials. The NNPC imports fuel and uses its discretion to allocate products to marketers, adding that if the subsector is deregulated it would also help government to invest the subsidy money into other sectors.

  • NNPC embarks on healthcare venture to reduce medical tourism

    The Nigerian National Petroleum Corporation (NNPC) has teed-off a major national healthcare intervention project designed to halt medical tourism to foreign destinations through the provision of state-of-the-art hospitals and diagnostic centres across the country.

    Details of the medical venture plans published in the Q3 2018 Edition of the NNPC Magazine indicated that the corporation has set a five-year gestation period for the project to achieve substantial impact in Nigeria’s healthcare delivery system.

    The NNPC quarterly publication reported that the healthcare project is in three parts. The first is Occupational Health designed to specifically service NNPC staff, their dependents and retirees. All current NNPC clinics fall under this scheme and are presently being upgraded to reflect the new realities.

    The second scheme involves some key NNPC hospitals like the erstwhile Abuja International Diagnostic Centre (AIDC) and the Benoni Hospital in Benin City which are being equipped to service both NNPC staff and outsiders because of their projected excess capacity.

    The third leg of the medical project which has been designated as ‘new business’ involves locations where state-of-the-art hospitals and diagnostic centers will be constructed on NNPC unutilized lands in Kaduna, Mosimi and Port Harcourt for commercial purposes.

    NNPC Group Managing Director, Dr. Maikanti Baru, said he was delighted by the development being spearheaded by the NNPC Medicals, saying the project would impact on the bottom line of the corporation in the long run.

    According to NNPC’s statement that made this disclosure on Thursday, Baru affirmed that apart from the financial benefits the project promises, it also underlined the progress being made in the transformation efforts to reposition NNPC as a fully integrated company of the future.

    Read Also: Strike: NNPC begs oil workers to exercise restrain

    The NNPC Magazine’s report further informed that the icing on the cake is the erstwhile Abuja International Diagnostic Centre which is being reconfigured to assume the status of a national flagship medical mall.

    Upon completion, the centre will warehouse top class health care providers in cardiovascular, oncology, renal dialysis, radiology and lab services.

    The dream, it was gathered, is essentially to make AIDC a hub for other clinics through telemedicine.

    This process allows the remote delivery of healthcare services, such as health assessments or consultations with the support of telecommunications and information technology infrastructure. It will enable the healthcare providers to evaluate, diagnose and treat patients without the need for an in-person visit.

    Babatunde Adeniran, Chief Operating Officer, NNPC Ventures, said the new-found medical vision was modeled as well as inspired in part by successes recorded in other jurisdictions like Saudi Arabia, where the state oil company, Saudi Aramco, partners John Hopkins to provide best medical care for its staff and residents of other Middle East countries.

    “NNPC has 52 clinics/hospitals, the largest network of healthcare facilities in Nigeria which is enough capacity for us to build on, upgrade the facilities and achieve our commercialization dream. The aim is to reduce to zero, medical tourism and the accompanied capital flight with a view to retaining the money in Nigeria while also improving NNPC’s revenue,’’ he said.

    Musa Shaibu, veteran Occupational Health Physician and Managing Director of NNPC Medical Services Limited (NMSL), told the NNPC Magazine that the corporation was harnessing its strong brand name and market place identity to achieve remarkable results in the pursuit of medical excellence.

    “The NNPC name is huge, it is a golden name and as we are going into healthcare delivery in the name of NNPC, it is going to be a huge advantage. Don’t forget that, over the years, because we have been in the practice, we have interfaced with the best in healthcare delivery across the world. We know what to do and how to achieve result,’’ he said.

  • FEC okays $64m contract for Escravos power supply

    The Federal Executive Council ( FEC ) meeting on Wednesday approved $64 million for power supply to Escravos communities.

    This was disclosed by the Minister of State for Petroleum Resources, Ibe Kachikwu, at the end of the FEC meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

    According to him, if executed, it will stop the N18 million spent monthly by the Nigerian National Petroleum Corporation (NNPC) to provide power to the area.

     

    Details Later…

  • Ondo ethanol project with NNPC to start before January

    Efforts by Ondo State Governor Oluwarotimi Akeredolu’s administration to industrialise the state has started paying off with the cassava-ethanol project expected to take off before the end of the year.

    The ethanol project is a partnership between the state government and the Nigerian National Petroleum Corporation (NNPC).

    The Special Adviser to the Governor on Development and Investment, Mr Boye Oyewumi, spoke at the weekend on the project when a team of foreign experts and NNPC officials visited the proposed site of the plant at Okeluse in Ose Local Government Area.

    Oyewumi said the ethanol project, which would also involve a consortium of Obax Worldwide Limited and Complant, besides the NNPC, will create 12,000 direct jobs while over 200,000 farmers would be fully engaged.

    “We are here with the representatives of the NNPC, Obax Worldwide Limited and a Chinese company, Complant. I’m happy to inform you that we are now about to start,” he said.

    Also, the Senior Special Assistant to the Governor on Agriculture and Agri-Business Mr Akin Olotu said the NNPC team would check the terrain and dialogue with residents of the community.

    The governor’s aide assured the people that the industry would be the answer to the industrialisation agitations of the people.

    He added: “It’s an ethanol plant and we are looking at close to a million tonnes capacity plant. Imagine the multiplier effects on the economy of the state and individuals.”

    At the palace of the Ojima of Okeluse, the governor’s aide solicited the support and cooperation of the community for the project.

    While Oyewumi suggested that his people be involved in the execution of the project, Oba Owasunloye expressed optimism that his subjects would be favourably disposed to its early completion.

    The monarch expressed concern over the failure of past administrations to keep their promises to develop the town.

    He urged Akeredolu to complete the project.

    Also, the leader of the foreign team, Mr Wang Qing, stressed that the Federal Government was interested in the programme.

    He promised to do expedite action on the project for its early completion.

    Qing expressed appreciation to the host on the level of hospitality extended to members of his team.

    The memorandum of understanding (MoU) for the establishment of the cassava ethanol plant in Okeluse had been signed by the Ondo State government and the NNPC.

  • NNPC urges NUPENG, PENGASSAN to halt planned strike action

    The Group Managing Director (GMD), NNPC, Dr Maikanti Baru, has urged oil workers to halt their planned strike over a labour dispute involving Chevron Nigeria Limited (CNL) management and the staff.

    The unions are National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

    Baru made the appeal in a statement by NNPC’s Group Public Affairs Manager, Mr. Ndu Ughamadu, in Abuja on Sunday.

    The GMD, Nigerian National Petroleum Corporation, said he had directed the management to work with other stakeholders to resolve the issues raised by the leadership of the unions.

    He appealed to the unions not to do anything that would disrupt the industrial harmony that had pervaded the sector.

    The group managing director expressed fears that the gains of the recent past in the sector, if care was not taken, could be frittered away inadvertently.

    He however expressed optimism that the current dispute would be settled amicably.

    The News Agency of Nigeria (NAN) recalls that the unions had recently called on the National Assembly to intervene in the brewing impasse between CNL and its staff in Nigeria

    The unions further urged the Federal Ministry of Petroleum Resources, the NNPC and the Department of State Services (DSS) to also intervene.

    The disagreements borders on the company’s disclosure that the contracts with all its manpower services providers would expire by the end of October, 2018.

    Consequently, NUPENG and PENGASSAN, last week Wednesday, put their members on red alert.

    Meanwhile, the NNPC has allayed concerns of petroleum product consumers over possible hiccups in supply in parts of the country due to the workers’ ultimatum.

    It gave the assurance that the corporation had adequate storage of petroleum products across the country to take care of the national demand.