fbpx
Connect with us

News

NNPC/Aiteo Joint Venture Launches Nembe Crude Oil Grade

Published

on

 

As Export of Two 950,000 barrels Cargoes CommencesThe NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market.

The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday.OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in 2014.

The Nembe Crude was previously blended with the popular Bonny Light grade and exported via the Bonny Oil & Gas Terminal.

The unique selling point of the Nembe Crude Oil grade with an API gravity was highlighted by both the Aiteo E & P and NNPC Limited Leadership at the Argus Conference in London.The Nembe Crude Oil grade also has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.Two cargoes of 950,000 barrels each of the Nembe Crude Oil grade have since been exported to France and the Netherlands. With its attractive Assay of API 29 and low sulphur content, the Nembe Crude Oil grade commands a premium to the global Brent benchmark.With the NNPC-Aiteo OML 29 JV back onstream, Nigeria now boasts of an additional crude oil export of 2 Cargoes at 950,000 barrels each per month and 1.2 Bcf of export gas monthly.

This remarkable achievement signals the commencement of activities at Nigeria’s newest crude oil terminal, the Nembe Crude Oil Export Terminal (NCOET), which was licensed in line with the extant laws and Crude Oil Terminal establishment regulations.

#

The terminal was conceived as a Floating Storage and Offloading Vessel (FSO) with a storage capacity of two (2) Million Barrels and the ability to offload crude oil to any export tanker from AFRAMAX to Very Large Crude Carriers (VLCC).

News

Stampede at Catholic Church in Maitama Claims Ten Lives During Food Distribution

Published

on

 

Ten people have been confirmed dead in a stampede at the Holy Trinity Catholic Church, Maitama, on Saturday, 21st December 2024, during the distribution of food items to vulnerable and elderly individuals.

The unfortunate incident, which occurred around 6:30 am, resulted in the loss of ten lives, including four children, and left eight others injured with varying degrees of severity. Four of the injured have been treated and discharged, while the remaining victims are still receiving medical attention.

The FCT Police Command, in a statement issued by its spokesperson, SP Josephine Adeh, confirmed the tragedy, extended condolences to the families of the deceased, and wished the injured a swift recovery.

#
Continue Reading

News

Port-Harcourt Refinery Fully Operational- Says NNPC

Published

on

 

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.

#

Preparation for the day’s loading operation is currently ongoing.

Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.

 

Continue Reading

News

Port Harcourt Refinery Halts Production Less Than a Month After Resumption

Published

on

 

Less than a month after the porthacourt  appeared to have resumed production, the facility has stopped working.

It was gathered that the lifting of petrol actually stopped last Friday, December 13, as the 18-arm loading bay of the new Port Harcourt refinery was empty.

While about 18 trucks littered the stretch of the busy road leading to the refinery itself, nine trucks were spotted inside the parking yard, while the loading bay was empty.

Journalists who visited the refinery on Thursday, December 19, 2024, observed that the lifting of Premium Motor Spirit (petrol) had stopped completely.

#

The depot, which is usually a beehive of activities where tankers scramble for space at the parking yard, was a shadow of itself with literally no vehicular or human activity relating to operations.

This was after $1.5bn was approved in March 2021 and spent on the rehabilitation of the facility.

The inauguration of the 60,000 barrel per day production capacity plant by the Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday, November 26, 2024, was met with celebration and fanfare.

During the re-opening of the facility, there was lifting of petrol to the excitement of the cheering crowd.

However, less than 10 trucks of petrol were lifted that day as against widespread claims that about 200 trucks carried petrol out of the bay.

 

Continue Reading

Trending