Friday, 29 August 2014

CARITAS, INVESTIS PARTNER ON DIGITAL COMMUNICATION

Lagos (Nigeria), August 29, 2014: Caritas Digital, a subsidiary of Caritas PR Limited, has signed a strategic partnership agreement with Investis Limited, an international digital communication company, to deploy digital corporate communication solutions to quoted and unquoted companies in West Africa.

Commenting on the partnership, Adedayo Ojo, CEO of Caritas PR Limited, said “We are delighted with the partnership with Investis. The agreement will enable us to combine our expertise to offer clients the best in corporate and digital communication”. He added that the partnership was a response to an independent research report which showed a sharp rise in digital products and services globally and an encouraging increase in the number of corporations investing in their overall digital corporate communication in the past one year.

“Annual Reports are no longer shared during Annual General Meetings, rather these are now deployed through IR applications to targeted Investors, and shareholders with enhanced user interface for interactive engagements. The lack of these applications currently places some quoted companies in Nigeria in a disadvantage position”, Ojo said.

Ojo stated that the partnership has been designed to provide products and services including designing; building, hosting and managing corporate or investor websites and online annual reports, Investor Relations apps development, webcasting and social media solutions to quoted Nigerian companies listed on the London and Nigeria Stock Exchanges.

With this partnership, Caritas Digital and Investis will offer flexible solutions compatible with iPad, iPhone, and Android phones and social media for Investor Relations and Corporate Communication. Other solutions include iPad-compatible webcasting player; social media compatible widgets with a wide range of new corporate and investor-focused iPad, iPhone and Android Apps.

Commenting on the partnership, Investis Director, Adam Malik said, “Investis welcomes the partnership with Caritas PR Limited. This partnership provides the two companies with the opportunity to offer world class investor relations and digital communication services to discerning publicly quoted and unquoted companies”. 
Malik noted that in the past six months, there has been a significant rise in the number of companies improving their corporate websites and wider digital presence. This growth has been driven largely by growth in both Mobile (up 30%) and Social Media (up 17%).

SCHNEIDER ELECTRIC TRAINS 50,000 IN ENERGY MANAGEMENT

 Lagos, 25 August, 2014- Schneider Electric has exceeded its 2014 set target for the number of people trained from new economies in energy management. The energy giant, as part of its international Corporate Social Responsibility (CSR) activities has now trained 50,000 people. This is 10,000 more than what was envisaged in its BipBop energy access program for communities at the base of the pyramid.

Launched in 2009, the aim of the Schneider Electric BipBop program is to help resolve the issue of energy access by implementing a virtuous circle based on three pillars: social investments (Business), the creation of specific products (Innovation) and training (People). These Training pillars help to support and develop training programs on activities linked to energy management (electricity, industrial maintenance, etc.) in order to overcome the lack of local expertise in emerging economies and to increase the standard of living of people in disadvantaged communities.

Commenting on the achievement, Gilles Vermot Desroches, Sustainability Senior Vice-President at Schneider Electric  stated, "We are delighted with these excellent results in training people at the bottom of the pyramid, and they encourage us to step up our efforts. Training is the key to success of all the actions we take through BipBop”. Gilles also emphasised that the program allows local communities to obtain the long-term skills required to maintain and sell energy access solutions. “Through the diffusion of this know-how, the social business initiative launched by Schneider Electric many years ago is gradually bearing fruit.” he said.

By equipping the centres with the electrical and teaching material required for learning and practical work, as well as training the trainers by relying on the involvement of current and retired employees of Schneider Electric, the training programs which are financed by the Schneider Electric Foundation, is also committed towards the professional integration of young people and is implemented in partnership with NGOs and local authorities.

It would be recalled that Schneider Electric in its exemplary commitment towards training and sustainable development, launched a loyalty programme for electricians earlier in the year, as part of its initiative to develop the electrical retail business in Nigeria, a programme which also won the organization an award.

About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in Utilities & Infrastructure, Industries & Machines Manufacturers, Non-residential Building, Data Centres & Networks and in Residential. Focused on making energy safe, reliable, efficient, productive and green, the Group's 150,000 plus employees achieved sales of 24 billion euros in 2013, through an active commitment to help individuals and organizations make the most of their energy.

Go to Schneider Electric Website

NUPENG RESUMES STRIKE, ACCUSES CHEVRON OF DISHONOURING AGREEMENT

The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) yesterday said it was resuming the strike it suspended early in July this year.

The NUPENG members had been spoiling for war over alleged improper retrenchment of its members by the management of American oil giant, Chevron Nigeria Limited, claiming that the company had refused to bend despite intervention by the Federal Ministry of Labour.
                                                                                                     
Read more @ Thisday Live                                                                                          

GROWING GAS DEMAND DRIVES PUSH TO EXPLOIT NIGERIA’S INLAND BASINS

With domestic gas demand expected to further increase, as more power plants are set to come on stream to bridge power supply deficits, Nigeria needs to look beyond the Gas Master Plan and explore its inland basins to meet its gas needs, industry experts have said.

The Nigerian Gas Master Plan (NGMP) which was approved in February 2008, was designed to optimise the vast gas resources in the country, but almost six years after, not much of the desired result has been achieved.

Read more @ Businessday

Thursday, 28 August 2014

NNPC SEEKS GREATER COLLABORATION WITH ARMY, POLICE ON ASSET SECURITY

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Joseph Thlama Dawha, has expressed the desire of the corporation to enhance the existing cordial relationship between the NNPC and the Nigerian Army as well as the Nigeria Police Force towards the achievement of efficient protection of vital oil and gas assets.

Speaking during two separate courtesy visits to the Chief of Army Staff, Lt. General Kenneth Minimah, at the Army Headquarters and the acting Inspector General of Police, Suleiman Abba, at the Force Headquarters, Dawha expressed gratitude to the security chiefs for their roles in providing the much needed cover for the smooth operations of the NNPC despite mounting security challenges.

Read more @ Thisday Live

TOTAL DEVELOPING PROJECTS, AS OTHER IOCS DIVEST

International Oil Companies (IOCs) playing in the Nigerian oil and gas space are showing divergent views on the attractiveness of assets as some are moving on with developments while others divest.

Royal Dutch Shell Plc , Europe’s largest oil company, said yesterday it is advancing plans to sell four fields in Nigeria, to meet a $15 billion asset-sales plan, even as French Oil major Total told BusinessDay that it was moving ahead with projects in the country, despite the uncertainty from the late passage of the PIB.

Read more @ Businessday

Wednesday, 27 August 2014

NIGERIA LOSES N38.8B TO OIL THEFT, PIPELINE SABOTAGE

THE menace of pipeline vandalism and oil theft may have cost the nation about $243 million (N38.8 billion) in 2013, according to the Nigerian National Petroluem Corporation (NNPC).

The Group Managing Director, NNPC, Joseph Dawah, who made this known at an industry event in Abuja recently, said Nigeria lost  $243 million worth of oil products last year from sabotage to the country’s pipeline network

Read more @ The Guardian

TOTAL DONATES VANS TO EBOLA OPERATION CENTRE

Total Companies in Nigeria, comprising the downstream and upstream branches, have joined the fight against Ebola Virus Disease in Nigeria, with the donation of five brand new Ford Pick-up vans and electronic fuelling cards to the Ebola Emergency Operation Centre, Yaba, Lagos.

The donation was part of the company’s initiative to support the Federal Government’s effort at curbing the spread of the disease in the country.

Read more @ Punch

$10BN CHEVRON ESCRAVOS GTL PRODUCES FIRST LIQUIDS

Nigeria has joined a small group of nations including Qatar, South Africa, Malaysia and Australia that operate hi-tech Gas to Liquid (GTL) plants, as the Chevron owned Escravos GTL has produced its first liquids, after being behind schedule for several years.

The plant would allow Nigeria to perform a leading role in an advanced sector of the energy and fuel market.

“We recently achieved a major milestone at our Escravos gas to liquids plant with the production of GTL diesel and naphtha. We anticipate continued ramp-up in first product lifting later this year,” said George Kirkland, Vice Chairman and Executive Vice President-Upstream and Gas, at Chevron Corp., during the company’s Q2 Earnings conference call.

Read more @ Businessday Live

NNPC, SHELL, CHEVRON PAY FINES OVER GAS SUPPLY FAILURE

The Nigerian National Petroleum Corporation (NNPC), Shell Petroleum Development Company (SPDC) and Chevron Nigeria Limited, owners of N-Gas, the main supplier of gas to Ghana’s Volta River Authority (VRA), through the West African Gas Pipeline (WAGP) are paying a fine of $20 million for failure to meet their contractual obligations on gas supply to the Ghana’s electricity producing company.

N-gas, a company jointly-owned by Shell, Chevron and the NNPC, buys gas from oil companies in Nigeria and transport the gas to its customers in Benin, Togo and Ghana, through the $1 billion WAGP, which is operated by the West African Gas Pipeline Company (WAPCo)

Read more @ Thisday Live

Tuesday, 26 August 2014

NPDC’S FLOW STATION SHUT DOWN: NIGERIA TO LOSE N2BN DAILY

Nigeria’s daily crude oil output yesterday decreased by about 45,000 barrels per day (bpd) valued at about N2billion. This follows the shut down of Erhoike flow station in Ethoipe East Government Area of Delta State by members of Orogun oil producing communities.

The shutdown of the oil facility is coming after weeks of ultimatum issued to the operator of the flow station, the Nigerian Petroleum Development Company (NPDC),  by the communities. Leaders of the protesting communities vowed to sustain the face off till the oil firm decided to address their grievances.

Read more @ The Nation

STEMMING THE TIDE OF INFLUX OF SUBSTANDARD LUBRICANTS IN NIGERIA

The lubricants sub-sector is the salient but core area of the downstream industry and lifeblood of all oil-dependent machinery. With so much at stake, Chika Amanze-Nwachuku posits that ensuring that the right lubricant is used at the right time is extremely critical

As blood is essential for good health and survival of living organisms, so lubricant oils are lifeblood of engines and all oil dependent machinery.

Also, as the transfusion of the wrong blood destroys the body system, so using the wrong lubricants can damage oil wetted machinery. It is estimated that more than 60 percent of all mechanical failures are due to inadequate or improper lubrication practices.

Read more on Thisday Live

TOTAL BUILDS $900M PIPELINE TO SUPPLY GAS TO ALAOJI POWER STATION

Hope for improvement in power supply in Nigeria has been rekindled as French oil giant, Total has stated that it has built a $900 million worth of pipeline infrastructure to supply gas from the company’s Oil Mining Lease (OML) 58 to the 964 megawatt-capacity Alaoji Power Station in Abia State.

The new Managing Director of Total Upstream Companies in Nigeria, Mrs. Elisabeth Proust, who confirmed this investment to THISDAY at the weekend, however, stated that for the investment of such magnitude to be economic in Nigeria, the price of domestic gas should be increased from its current level of $2.5 to $7 per million British Thermal Unit (BTU).

Read more on Thisday Live

Monday, 25 August 2014

FG LOSES N25.8BN ON IMPORT DUTY

The Federal Government has lost N25.8 billion to some companies operating in the agricultural, health, oil and gas, mines, steel and power sectors of the economy from import waivers between January and May, 2014, New Telegraph has learnt. Waiver is an incentive granted by government to importer, exporter, manufacturers or government agencies, among others. The beneficiaries are Chevron Nigeria Limited, Indorama Eleme Fertilizer and Chemicals Limited, United Cement Company of Nigeria and NIPCO Plc.


Others are the Borno State government, Federal Capital Territory Administration/ Globe Motors, M̩decins Sans Fronti̬res (Doctors without borders). Statistics made available to our correspondent, revealed that the Nigeria Customs Service (NCS) lost over N600 billion to import and export waivers in the past. N276.9 billion was also lost to waivers between 2000 and 2008. In addition, export grants to individuals and firms cost government over N300 billion. A breakdown of the lost funds revealed that in the first quarter of 2001, N45 billion was waived; 2003 РN12.4 billion; 2004 РN55.8 billion; 2005 РN71.244 billion; 2006 РN54.921 billion, while it was N42.598 billion in 2007. In January and March, 2008 РN9.512 billion; 2011 РN55.96 billion; 2012 -N55.34 billion and 2013 РN59.42 billion.

Read more @ New Telegraph

TOTAL BEMOANS HIGH COST OF OIL AND GAS PROJECTS IN NIGERIA

A French oil major, Total, has bemoaned the high cost of projects in Nigeria’s oil and gas industry, identifying long contracting cycle, security and community issues as factors that prompt contractors to inflate the cost of projects in the country.

The company has also called on the federal government to ensure that the Petroleum Industry Bill (PIB) reduces the duration for getting approvals for projects, saying the number of agencies involved in granting approvals for projects are also responsible for the high cost of projects due to the delay in getting approvals.

Read more @ Thisday Live

BAYELSA COMMUNITIES THREATEN OIL PRODUCTION

Operations of the Nigerian Agip Oil Company at Biseni in Bayelsa State face impending disruption over alleged failure of the oil company to meet its obligations to the host communities.

To avert such disruption, the host communities have asked the Bayelsa State Government to prevail on NAOC to fulfil its obligations to the people.

The communities had recently shut down five oil wells in Idu oilfield operated by Agip over its non-fulfilment of community development obligations to its hosts.

Read more @ Punch Online

Friday, 22 August 2014

ASIAN DEMAND FOR NIGERIAN CRUDE ENDS BRENT’S COLLAPSE

Brent crude’s biggest price-rout in more than a year is coming to an end as the flow of West African crude to Asia helps disperse a glut, banks including Societe Generale SA, BNP Paribas and DNB ASA said.

A “price floor is forming” close to $100 a barrel for Brent, used to value more than half the world’s oil, as the surplus of Nigerian supplies is whittled away, Societe Generale said in a report Thursday.

The incentive for sending cargoes from the region to buyers in Asia is at its strongest in four years, data from PVM Oil Associates Ltd. show.


Read more @ Businessday

NNPC RECORDS 3,571 PIPELINE BREAKS IN 2013

The Nigerian National Petroleum Corporation (NNPC) recorded 3,571 pipeline breaks in 2013 due to the activities of vandals and oil theft in the country, Group Managing Director of the corporation, Dr Joseph Dawha, said on Thursday.

Speaking on at the National Association of Energy Correspondents’ 2014 Conference in Lagos, Dawha who was represented by Francis Amego, the Executive Director, Commercial, Pipelines and Products Marketing Company Ltd (PPMC), a subsidiary of NNPC, said that the activity of vandals was first recorded in 1999 with 497 pipeline breaks.  He added that it increased to 3,571 in 2013.

Read more @ Businessday

Thursday, 21 August 2014

FRESH CRISIS LOOMS AS NUPENG HANDS AGIP ULTIMATUM OVER STOP-GAP CONTRACTS

There is growing tension in both the downstream and the upstream sectors of the oil and gas industry, following a 14-day ultimatum handed over to Nigerian Agip Oil Company (NAOC) by the Port Harcourt Zone of the Nigerian Union of Petroleum and Natural Gas (NUPENG), THISDAY has learnt.

Rising from their August 11, 2014 emergency meeting, NUPENG had handed over an ultimatum to NAOC to respect the April and June 2014 letters from the National Petroleum Investment Management Services (NAPIMS), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).

The letters, according to NUPENG, directed the Italian company to discuss the stop-gap contract of turbine and related equipment maintenance contract in OB|OB, Ebocha and Kwale with Arco Petroleum Nigeria Plc.

Read more @ Thisday

INDIGENOUS FIRMS BOOST NIGERIA’S MARGINAL FIELD PRODUCTION

The contribution of indigenous firms to oil and gas production and reserves in Nigeria through marginal fields awarded to them in the first licensing round has grown in recent times, adding pressure on the government to expedite action on the next bid round.
More indigenous oil firms are seen as positioned to boost Nigeria’s stagnant production and reserves, as the next marginal field bid round is eagerly anticipated to come on stream sooner than later.

“Without necessarily ranging them, I can count five indigenous oil companies that are poised to grow in the upstream sector. They include Energia, Platform, Seplat, Niger Delta Resources, Waltersmith, and Emerald,” Wumi Iledare, president, International Association for Energy Economics, told BusinessDay

Read more @ Businessday

Wednesday, 20 August 2014

MONTHLY OIL REVENUE DECLINES TO N630.3BN IN JULY

Excess crude account drops to $4.1bn as FG, states, LGs share N654.5bn FAAC ponders directive on first line charge for judiciary
James Emejo 

Production hiccups including a force majeure declared by Shell, shut-down of trunk lines and pipelines at Akpo and Bonny terminals caused a significant decline in monthly receipts as gross revenue for July dropped by about N154.5 billion to about N630.3 billion compared to about N784.8 billion in June.

Also, a substantial decline in Company Income Tax (CIT) has further dampened the prospects for higher collections for the month.

Read more @ Thisday

OIL COMPANIES WANT PSC ARRANGEMENT FOR JV OPERATION

The long-standing inability of the government-owned Nigerian National Petroleum Corporation (NNPC) to fund its own share of joint venture (JV) projects with oil companies has prompted calls for an arrangement, similar to what obtains in production-sharing contracts for JV projects, to address the funding problem.

This is as NNPC’s inability to fulfil its financial obligation is affecting the activities of the partners and taking a toll on local contractors, as projects are being held up.

Nigeria’s oil and gas production structure is mainly split between JV with NNPC onshore and in shallow water, and production sharing contracts (PSC) in deepwater offshore.

Read more @ Businessday

Tuesday, 19 August 2014

SEVEN ENERGY’S $600M GAS PLANT GOES LIVE

Nigeria’s President Goodluck Jonathan, on Thursday commissioned a N90 billion ($600m) gas processing facility at Uquo in Akwa Ibom State located in Nigeria’s oil-rich Niger-Delta region.

The Uquo Field was one of the 24 marginal fields awarded in 2003 to indigenous companies by Nigeria’s Department of Petroleum Resources (DPR) as part of the government’s Marginal Field Programme aimed at increasing reserves, production, employment, local content and indigenous participation in the upstream oil and gas sector.

Owned by Accugas Ltd, a wholly owned subsidiary of indigenous company Seven Energy International Limited headquartered in Lagos and London. The gas plant commenced gas deliveries in early 2014 to the 190 megawatts (MW) Ibom Power Station.

Read more @ Ventures Africa

EFCC RECOVERS N5B FROM FUEL SUBSIDY SCAMMERS

The Economic and Financial Crimes Commission (EFCC), said it has so far recovered about N5 billion from persons and organisations indicted in the fuel subsidy probe, which began over two years ago.

Spokesman to the EFCC, Wilson Uwujaren said in a statement Monday that while this amount has been recovered for the government, investigations are still ongoing on the 13 oil subsidy cases that are being prosecuted. These cases, according to him, involve individuals as well as corporate bodies.

Read more @ The Guardian

NIGERIA’S REFINERIES PROCESSED 497,000MT IN FEB –NNPC

The four refineries in Nigeria processed 497,000 metric tonnes of crude oil last February the Nigerian National Petroleum Corporation (NNPC) said in a report at the weekend.

The refineries are the Kaduna Refinery and Petrochemical Company (KRPC); Port Harcourt Refining Company (PHRC); and Warri Refining and Petrochemical Company (WRPC). The report, which centred on February, 2014, was obtained by New Telegraph. It revealed that the combined average capacity of the refineries in the month under review was 35.55 per cent.


“443,000 metric tonnes of dry crude oil, condensate and slop was received by the refineries in the month. With an opening stock of 460,000 metric tonnes, total crude oil available for processing was 903,000 metric tonnes, out of which 497,000 metric tonnes was processed,” the corporation said in the report.

WIND FARMS CAN STORE AND DELIVER SURPLUS ENERGY

The worldwide demand for solar and wind power continues to skyrocket. Since 2009, global solar photovoltaic installations have increased about 40 percent a year on average and the installed capacity of wind turbines has doubled. The dramatic growth of the wind and solar industries has led utilities to begin testing large-scale technologies capable of storing surplus clean electricity and delivering it on demand when sunlight and wind are in short supply.


A team of Stanford researchers have looked at the "energetic cost" of manufacturing batteries and other storage technologies for the electrical grid. An issue is whether renewable energy supplies, such as wind power and solar photovoltaics, produce enough energy to fuel both their own growth and the growth of the necessary energy storage industry.


FLARING MUST BE UNATTRACTIVE FOR FULL FLARE OUT

To put an end to the recurring issue of gas flaring in Nigeria’s oil and gas sector, the Federal Government should make the practice unprofitable by enforcing stringent penalties against defaulting companies.

This is the opinion of Mr. Moritz Abazie, the Managing Director of Strides Energy and Maritime Limited, an offshore oil and gas construction firm.

Read more @ Vanguard

Monday, 18 August 2014

NNPC’s restructuring stalls NPDC’s MoU with host communities

The shake up in the Nigerian National Petroleum Corporation (NNPC) and its exploration and production arm, the Nigerian Petroleum Development Company (NPDC), has stalled the  signing of Global Memorandum of Understanding (GMoU) between the NPDC and  the host communities from which it acquired Shell’s divested assets in the Niger Delta region.


A source told The Nation that arrangements had been concluded for the signing of the understanding with the communities before August 8, unfortunately, the Group Managing Director of NNPC, AndrewYakubu was removed while the NPDC’s Managing Director, Victor Iyowuna Briggs and top management staff of the corporation were also redeployed on August 1.

Read more @ The Nation

GAS SHORTAGE PUTS PRESSURE ON FIRMS’ COST

President Goodluck Jonathan is scrambling to boost gas supply in the country as shortage of the fuel used to power most manufacturing plants hit companies’ costs amid crisis in the sector arising from government policies that seek to control prices.

Dangote Cement plc, Nigeria’s largest company and Africa’s biggest producer of the building material, said on Friday that first-half profit declined 11 percent as operating costs increased on gas supply challenges resulting in use of heavy oil for its plants.

Read more @ Businessday

NLNG, NIMASA RESUME LEGAL BATTLE OVER $140M TAX

The bickering between the Nigeria Liquefied Natural Gas (NLNG) and Nigerian Maritime Safety and Administration Agency (NIMASA) over $140 million tax worsened yesterday as the agency declared that it would resume legal action against NIMASA and Global West Vessel Specialist Limited (GWVS) in its bid to be exempted from paying freight levies on its gas cargoes.

This action, the company said in a statement, was sequel to a ruling on August 11by a Court of Appeal sitting in Lagos, which upheld NLNG’s request to sue a private security company, Global West Vessel Specialist Limited, employed by state maritime security agency NIMASA to carry out blockades of shipment of LNG cargoes between May and June 2013.

Friday, 15 August 2014

Jonathan Inaugurates N90bn Uquo Gas Processing Facility


Nigeria’s power sector has received a boost as President Goodluck Jonathan yesterday inaugurated a 200 million standard cubic feet of gas per day, Uquo Gas Processing Facility, which has a capacity to power 1,000 megawatts (MW) of gas-fired power plants.

The N90 billion facility, which is located in Esiet-Eket  Local Government Area  of Akwa Ibom State, and funded by Seven Energy, is the first of its kind to be built by Nigerian independents.

Read more @ Thisday Online

Thursday, 14 August 2014

Seven Energy Boosts Power Generation with N90billion Uquo Gas Facility

Seven Energy International Limited, indigenous Nigerian integrated oil and gas development, production and gas Distribution Company today confirms that its N90billion Uquo Gas Processing Facility, in Esit Ekit, Akwa Ibom State has been commissioned by President Goodluck Jonathan, bringing a major boost to Nigeria’s quest for a stable power supply.




FG TASKS OIL INDUSTRY OPERATORS ON OIL SPILL

The Federal Government has urged oil and gas companies operating in Nigeria to partner with it towards eradicating oil spillage and its harmful effect on the environment.

The Minister of Environment, Mrs. Lawrencia Mallam, called for the partnership during the inauguration and handover ceremony of the Geographic Information System laboratory stationed at the headquarters of National Oil Spill Detection and Response Agency in Abuja.

She said operators in the sector must join hands with the government to ensure safe and cleaner environment.