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Nigeria’s 40bn Barrels Oil Reserve Target Achievable -DPR

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Director, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, says Nigeria’s target of 40 billion barrels oil condensate reserve by 2025 is realistic and achievable.
Auwalu, who spoke last Saturday at the Society of Petroleum Engineers (SPE) Abuja Section 199 Independence Day Virtual Lecture, said this was possible with the policies and programmes being implemented by the Federal Government.
He said Nigeria was also planning to increase its gas reserve to 210TCF by 2025 and 220TCF by 2030.
Auwalu said Nigeria’s vast human and natural resources put it in a vantage position as Africa’s largest economy.
“Nigeria is positioned to optimally develop its oil and gas resources for the benefit of stakeholders who are the ordinary Nigerians.
”Reforms in the oil and gas sector are geared toward realising government’s aspirations.
” Government’s target to increase our oil condensates and gas reserves by 2025 is realistic and achievable with the programmes and policies being put in place,” he said.
The DPR chief said that Nigeria’s oil reserve had stagnated for over 17 years at 37 billion barrels.
He said this was because the country chose to give opportunities to more indigenous companies to participate in the oil and gas sector.
Auwalu said this led to the emergence of the Independent Petroleum Producers Group, which are wholly owned by Nigerians and could compete today with International Oil Companies (IOCs).
According to him, over $40 billion Foreign Direct Investment (FDI) has been attracted to the petroleum sector within the last 10 years, as Nigeria remains a destination of choice for investors.
He said that the sector could surpass its 10 per cent contribution to the nation’s Gross Domestic Product  by driving in-country value addition and investments.
Auwalu listed the strategies being deployed by the government to include ongoing bid rounds for marginal oil fields, construction of gas pipelines across the country as well as refineries and petrochemical development.

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Oil & Energy

FG, MEMAN Chart Ways To Safe Petroleum Products Delivery

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The Federal Government and key Petroleum Products marketers have proposed new measures to help curb rising cases of road accidents involving petrol tankers.
This followed recent incidents of road accidents resulting in cremation of hundreds of lives and causing extensive damage to properties.
Speaking at the Discourse organised by Mejor Energy Marketers Association of Nigeria (MEMAN) in Lagos, Thursday, with the theme “Improving Safe Transportation of Petroleum Products”, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, noted with dismay the number of casualties the country recorded recently due to tanker accidents.
Lokpobiri stressed the need for an  enhanced training for tanker drivers, installation of detection leak devices  as well as other safety systems that can assist drivers.
He called on Marketers and Federal Road Safety Commission (FRSC) to strengthen collaboration with stakeholders, especially in the training of tanker drivers.
On his part, the Minister of State for Petroleum Resources (Gas), Ekperikpo Ekpo, reaffirmed government’s commitment to providing enabling environment to ensure safety of petroleum products transportation.
Ekpo, who was represented by Engr. Abel, said consideration should be given to more safety means of transporting products like the pipelines and railway line.
He stressed the need for better training for drivers and implementation of safety regulations within the industry.
Earlier, Chairman, MEMAN, Huub Stokman, said the Association has elaborate training manual for members truck drivers.
Stokman insisted that more training programmes and consistent adherence to safety measures would help to curb road accidents involving tanker drivers.
Also speaking, the National President, Nigerian Association of Raod Transport Owners (NARTO), Yusuf Lawal Othman, called for support.

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Oil & Energy

Benue To Pioneer Gas Production From Coal – NGEP 

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The Chairman, National Gas Expansion Programme (NGEP), Prof. Mohammed Ibrahim, has said that the production of coal bed methane, an unconventional form of natural gas extracted from coal, is set to begin in Benue State.
Prof. Ibrahim staed this while addressing newsmen at the end of a joint meeting of the National and State gas expansion committees with Benue State Governor, Hyacinth Alia.
He said the Federal Government is committed to expanding gas availability in Nigeria for domestic use and mobility.
Ibrahim added that extracting gas from unconventional coal sources rather than traditional hydrocarbon reserves is a way to boost gas availability.
“Essentially there are four areas of implementation that the committee has identified. One is to pioneer the production of gas from what you call coal bed methane, which means that Benue is going to pioneer in the country the production of gas not from conventional hydrocarbon, but from non-conventional coal just so that the nation will have an alternative source to gas availability”, he said.
Also speaking, the Chairman, Benue State Gas Expansion Programme, Dr. Emmanuel Chenge, said the gas expansion initiative would contribute to the economic transformation of Benue State.
“The good news is that Benue is set to join the league of gas-producing states and if we are conversant with what being a member of the gas-producing state is, it shows that Benue State will start getting derivatives from that sector of the economy”, Dr Chenge stated.
The National Gas Expansion Programme (NGEP) was established to boost the exploration and utilisation of gas in Nigeria and make Nigeria a gas-based industrial nation by increasing the use of gas for transportation, cooking, and industrialization.

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NNPC Debunks Explosion Claim In Warri Refinery

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The Nigeria National Petroleum Company Limited (NNPCL) has said there was no explosion at the newly refurbished Warri Refining and Petrochemical Company (WRPC).
NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, made this known in a statement issued on Friday night.
Soneye said reports claiming that there was an explosion at the Warri refinery were false and should be ignored and disregarded by the public.
According to him, the refinery was undergoing routine maintenance.
His statement read, “NNPC Ltd. wishes to clarify that there was no explosion at the Warri Refining and Petrochemical Company (WRPC). Any reports suggesting otherwise are completely false.
“On January 25, 2025, operations at WRPC Area 1 were intentionally curtailed to carry out necessary intervention works on select equipment, including field instruments that were impacting sustainable and steady operations.
“These intervention works are essential to ensure the production of on-specification finished and intermediate products, particularly Automotive Gas Oil (AGO) and Kerosene (Kero).
“The routine maintenance is progressing as planned, and Area 1 will be back in operation within the next few days.
“Despite ongoing interventions, over the past 11 days, AGO loading has been maintained at an average of eight trucks per day, with a sufficient supply available to sustain ongoing truck load-out operations”.
Soneye added that the NNPCL was committed to ensuring an uninterrupted supply of petroleum products from the refinery.
He said the company “appreciates the patience and cooperation of all stakeholders as it completes these essential maintenance activities”.

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