PIB: Senate limits fuel imports to Dangote, other refiners The Punch
Published 12 July 2021
If the new provision on fuel imports inserted by the Senate in the Petroleum Industry Bill is adopted by the House of Representatives and the President, only active refinery licence holders will be allowed to import petroleum products into the country when the bill becomes a law.
Companies holding refining licences in the country include Dangote Oil Refinery Company, Waltersmith Refining & Petrochemical Company Limited, OPAC Refineries, Niger Delta Petroleum Resources, BUA Refinery & Petrochemicals as well as Edo Refinery and Petrochemical Company Limited.
The PUNCH had exclusively reported on February 28 that Dangote Group had suggested for inclusion in the PIB a provision that the licence to import petroleum products should be assigned only to companies with active refining licences, saying this would encourage investment in local refining.
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NDEP set to inaugurate 11,000bpd refinery The Punch
Published 8 July 2021
The Niger Delta Exploration & Production Plc, an independent integrated energy company, has said its refinery, with a processing capacity of 11,000 barrels per day, will be inaugurated soon.
The company also announced the Department of Petroleum Resources’ approval for the introduction of hydrocarbon to the Train 3 of its Ogbele refinery.
Niger Delta Petroleum Resources, a subsidiary of NDEP, had in 2010 inaugurated a 1,000bpd mini refinery for the extraction of diesel from crude oil produced from the Ogbele field.
The Chairman of NDEP, Mr Ladi Jadesimi, was quoted in a statement as saying that this would make the full-fledged refinery ‘the first of such privately owned and operated in Nigeria’.
Peter Uzoho
Nigeria’s first marginal oil field, Ogbele field, owned by the Niger Delta Exploration and Production (NDEP) Plc has produced 20 million barrels of oil and 95 billion standard cubic feet of gas in its 15 years production.
The NDEP disclosed this at its 26th annual general meeting (AGM) held virtually recently, where it celebrated its 15th anniversary since the oil production at the Ogbele field.
The company said the achievements were recorded despite the negative impact of the COVID-19 pandemic on oil companies last year.
The latest production performance disclosed by the NDEP, whose upstream subsidiary, Niger Delta Petroleum Resources (NDPR) Limited is the operator of the field, showed that the company increased production at the field by one million barrels of oil and five billion scf of gas in 2020, from the cumulative 19 million barrels and 90scf reported in 2019.
PIB: Dangote refinery, others to buy crude in naira The Punch
Published 5 July 2021
Holders of refining licences in the country can pay for domestic crude oil supply in naira, according to the Petroleum Industry Bill passed by the National Assembly on Thursday.
Companies holding refining licences include Dangote Oil Refinery Company, Waltersmith Refining & Petrochemical Company Limited, OPAC Refineries, Niger Delta Petroleum Resources, BUA Refinery & Petrochemicals and Edo Refinery and Petrochemical Company Limited.
The Senate and House of Representatives, according to copies of the passed bills seen by our correspondent, recommended that payment guarantees to be provided by refinery licence holders shall be in dollars or naira.