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Nairametrics
Home Business News

NNPC And Sahara Establish Gas Company

Onome Ohwovoriole by Onome Ohwovoriole
February 2, 2017
in Business News, Company News
NNPC Releases Monthly Performance Report For August
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The current scarcity in liquefied petroleum gas commonly known as cooking gas may soon be an event of the past as West Africa Gas limited Group is set to commence operations with two vessels. The vessels MT African Gas and MT Sahara Gas will birth in Houston, United States before heading to the West African coast . Expected time of arrival for the vessels is March 2017.

West Africa gas is a joint venture between the Nigerian National Petroleum Company (NNPC) and Sahara Energy’s oil and gas trading arm Ocean Bed Trading Ltd (BVI).

The rice of filling a 12.5 kg cylinder of cooking gas commonly used by households went up from ₦3000 naira in December 2016 to ₦ 5000 naira as at January 2017. Industry operators have blamed the scarcity on the lack of vessels to transport the product into the country, as well as current foreign exchange challenges. Enhanced use of LPG will reduce the rate of deforestation and slow the effects of climate change in the country.

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Group Managing Director of the NNPC, Alhaji Makanti Baru in a statement expressed the Corporation’s determination to ensure uninterrupted supply of the cooking gas. Forex and supply challenges have also lead to a scarcity and huge in the price of kerosene. This has led to many households reverting to fire wood and charcoal for cooking.

Tags: NNPC Nigeria NewsOIl and Gas News
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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