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NNPC reports explosion at OML 40 facility

The NNPC has reported an explosion at OML 40 facility

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NNPC reports explosion at OML 40 facility

The Nigerian National Petroleum Corporation (NNPC) Group has reported an explosion at OML 40 facility managed by Elcrest E&P Nigeria Limited while undergoing production evacuation at Gbetiokun Early Production facility.

The disclosure was revealed by the group through its verified Twitter page as seen by Nairametrics.

READ: NNPC announces sudden death of former Group Managing Director

READ: NNPC explains why it embarked on a major organisational restructuring

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In the recent press release which was signed by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, there were no records of fatalities or injuries and no significant spill during the accident.

READ: Sterling Bank gets CBN approval for restructuring

However, a reputable source informed that there was allegedly significant damage to the marine storage vessel, MT Harcourt, which will impact production by about 10,000 barrels of oil per day.

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In lieu of the recent development, NNPC has commenced an investigation to determine the cause and extent of the damage with a view to averting future occurrence.

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What they are saying: A press release by NNPC read thus: ‘’ @NNPCgroup reports explosion at OML 40 managed by Elcrest E&P @kennieobateru, #NNPC’s Group General Manager, Group Public Affairs Division, in a statement on the explosion, said there were no fatalities or injuries & no significant spill in the incident’’.

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Energy

AutoGas: President Buhari to launch scheme on December 1

President Buhari will launch a National AutoGas Scheme on the 1st of December.

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AutoGas, #EndSARS: Presidency to ensure that a repeat of protests does not happen, How Federal Government plans to increase VAT to 7.2% affects you

President Muhammadu Buhari will launch a National AutoGas Scheme on the 1st of December, as Nigeria makes alternative moves to maximize its rich natural gas reserves as a means of fuel consumption.

This was disclosed by Dr Mohammed Ibrahim,  Chairman, National Gas Expansion Programme (NGEP), in a statement after a meeting with stakeholders on Saturday in Lagos.

READ: FG approves new board for NLNG, BGT

Dr. Ibrahim told stakeholders on Saturday that the autogas scheme and deepening domestic utilisation of Liquefied Petroleum Gas (LPG) would create about 12.5 million direct and indirect jobs for Nigerians.

He also added that the Presidential fleet has already converted some of it fuel engines to run on  Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG), adding that the adoption of AutoGas was necessitated by the deregulation of petrol by the government, which had led to increment in the pump prices in recent times.

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READ: PIB; Will the jinx be broken this time around?

”We need about 500, 000 conversion engineers in the next 90 days to ensure that the retrofitting of the vehicles go as planned.

“Fifty conversion centres are currently upgrading for mass conversion and trainings and over 30,000 vehicles are already running on dual fuels in Nigeria.”

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READ: Nigeria to import petroleum products from Niger Republic, sign MoU on transportation, storage

“The 90 days training is being undertaken by the Nigerian Content Development Monitoring Board and the Petroleum Trust and Development Fund.

” These entrepreneurs will get their own foundries for manufacturing and will thereafter train others as time goes on,” he said.

READ: Largest private investment in Africa begins $15 billion financing

What you should know 

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Nairametrics reported in September that the Minister of State for Petroleum Resources, Timipre Sylva revealed that Nigerians can now convert cars using petrol to gas, which is cheaper, with effect from October 2020.

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The Department of Petroleum Resources also ordered 9,000 filling stations nationwide to begin the installation of facilities for gas products.

In October, the Federal Government estimated that the Compressed Natural Gas (CNG) will cost N97 per litre, as it had promised to provide alternatives to the Premium Motor Spirit (PMS), otherwise known as petrol, for poor Nigerians.

READ: DPR shuts down 85 gas plants in Lagos for illegal operations

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Energy

FG delivers 100 KWP Solar Mini-Grid to serve off-grid community in Ogun State

The REA has delivered 100kWp Solar Hybrid Mini-Grid designed to adequately serve off-grid community in Ogun state.

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FG delivers 100 KWP Solar Mini-Grid to serve off-grid community in Ogun State

In a bid to provide remote communities with clean and affordable energy, the Rural Electrification Agency under the aegis of the Federal Ministry of Power has delivered 100kWp Solar Hybrid Mini-Grid designed to adequately serve off-grid community in Ogun state.

This was disclosed by the agency in a tweet which was issued via its official Twitter handle today.

READ: FG to inject over N198 billion on capital projects in power sector in 2021

The Rural Electrification Agency disclosed that the intervention of the Solar Hybrid Mini-Grid to the community was successfully delivered under Rural Electrification Fund (REF).

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The Executive Director, REF, Sanusi Ohiare encouraged the indigenes to optimise the impact of this intervention while using this access to clean, safe and reliable energy productively.

READ: Plan to overhaul Nigeria’s Power grid attracts investors – Siemens

However, the Managing Director of Rural Electrification Agency, Mr. Ahmad Salihjo, while sharing his remarks, explained to the community members that he strongly believes that the quality of lives will be improved and children will have better learning experiences with access to reliable electricity in Olooji community.

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Mr. Ahmad commended  the community for their cooperation with the REA team and the Mini-Grid developer Acob Lighting Technology Limited.

READ: EFCC gives reason for unspent N4 billion in 2020 budget

What you should know

Recall that Nairametrics reported on November 12, 2020, that the Federal Government through its implementing Agency, Rural Electrification Agency (REA), commissioned a 100KW solar hybrid mini-grid power plant in Ebonyi State.

The Agency disclosed that the completed project is in line with the government’s mandate, as the present administration seeks to provide remote communities with clean and affordable energy, through strategic investment in the deployment of Mini-grid systems that will provide power for 5 million homes in 2021.

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Energy

President Buhari calls for alignment of capacity, attraction of investments across power sector

President Buhari has called for the alignment of capacity and attraction of investments across components of the Power Sector’s value chain.

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President Muhammadu Buhari has called for the alignment of capacity and attraction of investments across the generation, transmission and distribution components of the Power Sector’s value chain.

This was disclosed by the Minister of Power, Engr Salam Mamman, who represented the President, in a speech read at the  launch of Eko Electricity DisCo’s Supervisory Control and Data Acquisition (SCADA) system in Lagos on Thursday.

He said, “We must ensure that there is an alignment of capacity and attraction of investments across the generation, transmission and distribution components of the Power Sector’s value chain.

“I acknowledge the Central Bank of Nigeria’s (CBN) financial support towards this project through the Nigeria Electricity Market Stabilization Facility granted in 2015. This facility significantly led to the successful completion of this project.

“My administration remains committed to addressing the liquidity challenges which are adversely affecting the Power sector’s viability. We have noted with grave concern: The increased fiscal burden on the Federal Government (FG) occasioned by the tariff shortfalls in the sector which are no longer sustainable.”

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Bottom line

It is obvious that the CBN’s Payment Assurance Facility (CBN PAF) targeted at supporting tariff shortfalls can no longer be extended and must be phased out to allow the sector’s financial independence.

The government is also aware that these tariff shortfalls sit on DisCos’ books and impair their ability to raise capital and invest.

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