Nigeria

PMS: NNPC to import 100 million litres/day in February

With the return of fuel queues in some major Nigerian cities, the Nigerian National Petroleum Corporation (NNPC) has programmed to bring in two cargoes of petrol per day for the rest of February 2018 to boost supply.
 
Each cargo will include 50 million litres, roughly 35,000 tonnes, to “increase supply and replenish strategic reserves”, NNPC said in a statement.
 
Also, to enhance supply, 45 million litres of petrol was discharged from ships into jetties across the country on Thursday.
 

Intermodalism: NPA flags off cargo movement by containerized barge

In line with efforts to encourage intermodal transportation in cargo evacuation, Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman on Wednesday, flagged off the first movement of export cargoes with barges from the Ikorodu Ikorodu Lighter Terminal to APM Terminal Apapa by CRS Logistics Limited.
 
The current management of the NPA has continually emphasised the importance of deploying multimodal means of transportation from and into all port locations in Nigeria. 
 

Vitol ships rare Suezmax cargo to West Africa

Nigeria’s push to keep its citizens stocked with fuel is drawing close to a million tonnes a month of gasoline from Europe - including now on a rare Suezmax vessel booked by Vitol.
 
The country is working overtime to replenish its tanks after shortages and queues popped up across the nation of more than 180 million in early December - sparking a scramble for state oil company NNPC.
 

The NPA-Intels saga rolls on

The NPA has given Intels Nigeria a two-week ultimatum to remit an outstanding $48 million that ought to have been paid into the maritime agency’s treasury single account in 2017. 
 
Speaking during an interview with CNBC Africa, Hadiza Bala Usman, the agency’s managing director, said Intels’ notice of termination will stand if the company failed to settle its debt. 
 
“I am giving Intels a possible two-week window to provide payment, two weeks from now, following which the notice of termination will not be withdrawn,” she said. 

PTDF to accelerate oil exploration in northern frontier basins

The Petroleum Technology Development Fund (PTDF) recently conducted a two-day Regional Technology Knowledge Sharing Programme (RTKSP) at the Usmanu Danfodio University, Sokoto with focus on the hydrocarbon potentials of the Sokoto and other frontier basins of Nigeria. 
 
This is a significant step towards the application of knowledge from its sponsorship of local research to solve problems of the oil and gas industry.
 

Nigeria's crude swap contract in disarray

The cumulative production of Nigeria’s refineries again fell to zero at a time daily fuel consumption rose to 55 million litres, putting the Direct Sale and Direct Purchase (DSDP) contracts between Nigerian National Petroleum Corporation (NNPC) and refiners abroad under pressure. 
 
The consumption of premium motor spirit (PMS) also known as petrol has risen from 35 million to a record 55 million litres daily, subjecting the DSDP also known as crude swap contracts, into 20 million litres deficit.
 

Group faults NNPC’s retention of $16.8bn NLNG dividend

The Publish What You Pay (PWYP) Nigeria, has faulted the Nigerian National Petroleum Corporation (NNPC) for its continued withholding of dividends, amounting to $16.88 billion, paid by the Nigeria Liquefied Natural Gas Limited (NLNG) to it for the Federation Account.
 
The monies, which have reportedly not been remitted to the Federation Account is being held by the NNPC. The NNPC said it was holding on to the money on the orders of the President.
 

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