March 1, 2021
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NIGERIA
The Minister of State for Petroleum Resources H.E. Timipre Sylva performed the inauguration of the Federal Government’s National Gas Expansion Program in Ado-Ekiti, Ekiti as part of its efforts to make gas an alternative energy source for industrial, transportation and domestic use.
Minister Sylva described the program as an example of using the gas value chain as a catalyst for social and economic development in Nigeria. The program’s main objective is to reinforce and expand gas supply, as well as stimulate demand in Nigeria through effective and efficient mobilization of all available assets, resources and infrastructure in the country.
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Tue Feb 23 2021
The Kaduna Refinery is expected to resume operations by the first quarter of 2023 based on the refinery rehabilitation programme progress and timeline, the Managing Director, Kaduna Refining and Petrochemical Company (KRPC) Engr. Ezekiel Osarolube said on Monday.
Osarolube said the target is to achieve 90 per cent capacity utilization post-rehabilitation, which will increase in-country refining capacity and significantly reduce petroleum products importation, thereby saving the country’s foreign reserves.
Daily Trust reports that the Kaduna Refinery, which was commissioned in 1980 had sustained operations up until 2017 when a major plant failure occurred. The plant according to the MD had only operated for nine days in June 2019 until the available crude oil in the refinery was exhausted.
The Nigerian National Petroleum Corporation, (NNPC), has said that contrary to reports that it is owing the Federation Account the sum of N3.8 trillion, it is the Federation Account and Allocation Committee (FAAC) that’s owing it the sum of N787 billion from over draft.
Audit queries: Reps fault NNPC over deductions, insist all earnings must go into federation account tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
Oil Pipelines Photo: Getty Images
At least, 96 companies are currently lobbying for contracts to rehabilitate Nigeria’s critical downstream infrastructure, especially pipelines, depots and terminals, the Nigerian National Petroleum Corporation’s (NNPC) said yesterday.
The national oil company said the infrastructure would be contracted on a build, operate and transfer (BOT) financing model. With the model, the assets would be operated by the private firms after they are rehabilitated before they are transferred to the government depending on the number of years contained in the contract.
According to the Corporation, the public opening of the bids for the contract was in line with the NNPC’s commitment to transparency and accountability.