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Boost for Nigeria’s Oil Production, As NNPC’s Utapate Crude Grade Hits Global Oil Market

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Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart speaks at the official unveiling of the Utapate crude oil blend during the Utapate Crude Roadshow held on the sidelines of the 2024 Argus European Crude Conference in London, United Kingdom, on Wednesday.

 

 

In a major boost for Nigeria’s crude oil production, revenue generation and
economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil
grade, the Utapate crude oil blend, before the international crude oil market.

It would be recalled that in July, 2024, NNPC Ltd and its partner, the Sterling Oil
Exploration & Energy Production Company (SEEPCO) Ltd introduced the Utapate
crude oil blend, following the lifting of first cargo of 950,000 barrels which headed
for Spain.

During a ceremony held at the Argus European Crude Conference taking place in
London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P
Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate
crude oil blend into the market as a significant milestone for Nigeria’s crude oil
export to the global energy market.

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“Since we started producing the Utapate Field in May 2024, we have rapidly
ramped up production to 40,000 barrels per day (bpd) with minimum downtime.
So far, we have exported five cargoes, largely to Spain and the East Coast of the
United States; while two more additional cargoes have been secured for November
and December 2024, representing a significant boost to Nigeria’s crude oil export
to the global market,” Foucart told a packed audience of European crude oil
marketers.
He added that since its introduction into the global market, the Utapate crude oil
blend has enjoyed a positive response from the international crude oil market, due
to its highly attractive qualities.
Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural
Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of
330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf
of gas.
“We have a number of ongoing projects to increase our production from the
current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to
65,000bopd by June 2025. Essentially, we are targeting opportunities to increase
production to 80,000bopd by the end of 2025,” Foucart added.He said the Utapate crude oil terminal is sustainable, affordable and fully compliant
with the rigorous environmental regulations and sustainability principles especially
those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade
said the pricing structure of the Utapate crude oil blend is similar to that of
Amenam crude as it is a light sweet crude which is highly sought after by refiners
across the world due to its low sulphur content, efficient yield of high-value
products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted
to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading
intends to run a term contract on the Utapate crude oil blend cargoes, principally
targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the
Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur
content of 0.0655% and low carbon footprint due to flare gas elimination, fitting
perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a
manner that is safe, environmentally responsible, and beneficial to the local
communities.
The Utapate field development plan, executed between 2013-2019 and approved in
October, included converting wells and facilities from swamp/marine to land-
based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development
of significant infrastructure such as production facilities, storage tank, a subsea
pipeline and an offshore loading platform to facilitate crude oil evacuation and
loading.

The entry of the Utapate crude oil blend into the market is coming barely a year
after the NNPC Ltd announced the launch of Nembe crude oil, produced by the
NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).

In a statement by Olufemi O Soneye Chief corporate communications officer NNPCL said the remarkable achievement signals the commitment of the NNPC Ltd to
increasing Nigeria’s crude oil production and growing its reserves through the
development of new assets.

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Idiaye Emerges Edo Assembly Speaker, Alleges Corruption, Poor Leadership Under Ousted Predecessor

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By Yusuf Danjuma Yunusa

The newly elected Speaker of the Edo State House of Assembly, Yekini Idiaye, has said his predecessor, Blessing Agbebaku, was removed by lawmakers over alleged poor leadership and corruption.

Idiaye, who represents Akoko-Edo Constituency I and is a third-term lawmaker, emerged as Speaker on Monday following Agbebaku’s resignation amid moves by lawmakers to impeach him.

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Addressing journalists after Monday’s plenary, Idiaye accused Agbebaku of poor leadership, alleging that his tenure was characterised by corruption and prolonged adjournments.

He said, “The House was inaugurated on the 16th of June, 2023 under the leadership of Agbebaku, and since then we have been passing through a lot of challenges, corruption here and there, adjournment here and there, sometimes for 30 days without a cause. We are not happy with his leadership style. His leadership is poor, and it has been drawing the work of the government backwards.”

Idiaye added, “That is why we removed him. We must encourage our performing governor. He is doing well, anything that will derail or stop our performing governor, we must stop it. That is why we changed him. I can assure all of you that we will do everything possible to support Governor Monday Okpebholo to move this state forward.”

Idiaye’s emergence was also said to have followed the Assembly’s zoning arrangement, which provides that when the governor is from Edo Central Senatorial District, the Speaker should come from Edo North.

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Kano Government Reports ₦996bn Project Portfolio, 867 Completed Across 44 LGAs

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The Kano State Government says it has committed nearly ₦1 trillion to development projects across the state, with more than half of its 1,557 clearly classified projects already completed.

The figures were contained in an international press briefing, by Comrade Nura Maaji Sumaila, Commissioner for Public Procurement, Projects Monitoring and Evaluation. The briefing provided an update on project implementation, geographical distribution, procurement compliance and financial performance under the administration of Governor Abba Kabir Yusuf.

According to the ministry’s project database, the cumulative contract value stands at ₦996.29 billion, while ₦695.20 billion has received No Objection Certificate (NOC) approval and ₦444.75 billion represents payment certificates vetted by the ministry.

Of the 1,557 projects classified by the ministry, 867 projects, representing 55.68 per cent, have been completed. Another 654 projects, or 42 per cent, are ongoing, while 26 projects are at the award stage and 10 are planned and ready for award.

The ministry said some high-value projects are still awaiting the establishment of relevant due-process procedures. They include an approximately ₦113.19 billion mass-housing project at Dawakin Kudu and a ₦22 billion Rural Model City housing project covering the state’s 36 rural local government areas.

According to Maaji the geographical spread of the projects, stressing that government investment is not concentrated in Kano metropolis.

For its analysis, the ministry classified projects into single-LGA, cross-cutting and statewide/other interventions to avoid double-counting projects that serve several local government areas.

The eight metropolitan LGAs account for 598 projects valued at ₦299.36 billion, representing 30.01 per cent of the total contract value. The 36 rural LGAs account for 653 projects valued at ₦287.90 billion, or 28.90 per cent. Cross-cutting projects account for ₦159.50 billion, while statewide and other interventions represent ₦249.54 billion.

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The government said the figures demonstrate substantial investment beyond the state capital, covering rural roads, healthcare facilities, schools, housing, feeder roads and other infrastructure.

 

According to the commissioner Cross-cutting projects account for approximately ₦159.50 billion, or 16.01 per cent of the cumulative contract value. The projects include solar-powered street lighting, wireless solar traffic lights, traffic-management systems, major road expansions, pedestrian bridges, metropolitan road corridors and inter-LGA roads and bridges.

Among the projects identified are the Dakata–Yadakunya Road, Airport Gate–Triumph–Murtala Muhammad corridor, Katsina Road expansion, Airport Junction–Ashton/Club Road corridor, Kura–Kubarachi–Madobi road and bridges, and the Janguza–Durum–Kabo–Karaye road.

The ministry said such projects should not be assessed solely according to the local government in which they are located because their benefits extend across administrative boundaries.

The briefing identified several high-value investments contributing significantly to the state’s overall project portfolio.

These include the approximately ₦113.19 billion mass-housing scheme at Rijiyar Gwangwan in Dawakin Kudu, the ₦24.77 billion Katsina Road expansion covering Fagge and Dala, and about ₦21.90 billion for the Modern Cities infrastructure programme across Dawakin Kudu, Dawakin Tofa and Kumbotso.

The ministry also identified approximately ₦27.74 billion for the Madobi–Yako–Kafin Maiyaki/Kiru Road intervention and about ₦22 billion for prototype mass-housing units under the Rural Model City Project covering all 36 rural LGAs.

 

Beyond project delivery, the ministry said its mandate includes ensuring that public procurement and implementation are subject to appropriate review, monitoring and financial controls.

The ₦996.294 billion cumulative contract sum represents 100 per cent of the portfolio. Of this amount, ₦695.196 billion, or 69.78 per cent, has received NOC approval, while ₦444.747 billion, equivalent to 44.64 per cent of the contract value, represents vetted payments. Vetted payments amount to approximately 63.97 per cent of the NOC-approved figure.

The ministry said the figures reflect the fact that the portfolio includes completed, ongoing, recently awarded and planned projects, making continued monitoring, certification, cash-flow planning and prioritisation necessary.

 

The government said it would continue monitoring ongoing projects, addressing implementation bottlenecks, strengthening certification processes and ensuring that public resources are deployed responsibly and with value for money.

It also reaffirmed commitments to transparency in procurement, monitoring projects from procurement through completion, linking payment certification to verified implementation, and providing objective information to citizens, development partners and the international community.

Nura Iro Maaji said the project portfolio demonstrates interventions across all 44 local government areas, covering urban and rural infrastructure, mass housing, roads, bridges, healthcare, education, climate-resilient infrastructure and traffic management.

 

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BREAKING: INEC Declares Adeleke Winner of Osun Guber Election

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has declared incumbent Governor Ademola Adeleke the winner of the Osun State governorship election, defeating his closest rival, Bola Oyebamiji of the All Progressives Congress (APC).

Mr Adeleke, the Accord Party candidate, was announced winner by the state returning officer in the early hours of Sunday after a fiercely contested poll across the state’s 30 local government areas.

Mr Oyebamiji, the state’s former finance commissioner, came second, while the African Democratic Congress (ADC) candidate, Najeem Salaam, emerged as the second runner-up.

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A total of 15 political parties contested the election, with 1,906,390 permanent voter cards collected, according to the electoral umpire.

Mr Adeleke, who defected from the Peoples Democratic Party (PDP), under which he won his first election in 2022, had touted his achievements in the state’s economy, infrastructure, pension payments, the health sector, and digital transformation.

INEC announced on Sunday that Mr Adeleke won in local councils, including Oriade, Osogbo, Orolu, Ife Central, Ilesha-West, Ife-North, Ede South, Ifedayo, Boluwaduro, Iwo and Ifelodun.

Mr Oyebamiji won in Ilesha South, Boripe, Irepodun, Obokun, and Atakumosa West.

“Osun is no longer offline. Osun is awake—digitally and economically,” the governor said while highlighting his achievements recently. “We pay what is owed. We respect those who served. This is not politics. This is performance. This is leadership with results. Osun is rising—and we are not turning back.”

Before the election, he repeatedly alleged attempts to disrupt it. He had also vowed to constitute an independent commission of inquiry after Saturday’s governorship election to investigate all reported killings and acts of violence connected with the electioneering.

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