Oil & Energy

Nigerian Crude Differentials Stable Amid Strong Demand

Published

7 years ago

May 13, 2019

Offer prices for West African grades remained high but have not ramped up significantly despite tightened U.S. sanctions on Iranian oil, which will leave top buyers India and China looking for replacement barrels.
Shell confirmed that force majeure remains in place on exports of Bonny Light after the Nembe Creek Trunkline was closed because of a leak on Monday — its second outage in a week and third this year.
Nigeria is well placed to benefit from the looming exit of Iranian crude from global markets, though major buyer India will probably need to replace only 100,000 barrels per day (bpd).
Qua Iboe was still being offered at a relatively high price of dated Brent plus $2.50 for June, driven up by the Asian need to replace Iranian crude and last week’s unexpected drop in U.S. crude oil and gasoline stockpiles.
The shortage is expected to boost lighter West African grades ahead of the summer driving season.
A VLCC chartered by Marathon was carrying Nigerian Bonga to the United States. European buyers also were heard to be showing strong interest in Nigerian oil, given the relatively high gasoline cracks and an unusually low North Sea export programme because of maintenance.

Oil & Energy

NEDC Plans N100b Power Grid For 102 Council Areas

Published

45 minutes ago

August 3, 2026

The Tide

The North East Development Commission(NEDC) said it has earmarked about 100 billion naira for the construction of 50 megawatts power grid to power some of the 102 local government areas of the six states in the region.

?The Managing Director/Chief Executive Officer of the Commission, Alhaji Mohammed Alkali disclosed this while briefing media executives and bureau chiefs of selected organisations, in Abuja.

?Alhaji Alkali who spoke alongside the Chairman of the Commission, Major Gen. Paul Tarfa (rtd), said the NEDC has come a long way in addressing the critical needs of the citizens following the activities of Boko Haram insurgents.

?He said the Commission had resolved that terrorism and other criminal activities would no longer determine the philosophy of the people of the North East, but a complete return to normal lifestyle defined by the culture of the people in commerce, agriculture, industry and education.

?Alkali said the Commission’s activities since its inception seven years ago were premised on the Master Plan for the region, noting that the Master Plan was anchored on four major pillars of Stabilisation and Recovery, Renewal, Expansion and Sustainable growth.

?In delivering the projects to change the narratives of the region, Alkali said the Commission had executed educational, agricultural and health projects in all the states in the zones, and committed several billions of naira to them.

?He disclosed that the Commission also plans to construct boreholes worth over 30 billion naira for the 1024 wards in the six states of Adamawa, Borno, Bauchi, Taraba, Yobe and Gombe.

?He added that when the Commission came on stream, there were no MIR machines and other critical equipment in the hospitals in the region, stressing that the region as at now ,has eight MIR machines and scanning equipment facilitated by the Commission.

?He said: “The Commission recently attained five ISO certifications covering quality, environment, occupational health and safety, anti-bribery and sustainable communities, demonstrating globally recognised governance systems.

?”It has completed over 300 kilometres of roads and more than 50 bridges, reconnecting communities, reducing transport costs and improving access to markets, schools and hospitals.

?”Through the Light Up the North-East Project, more than 100,000 solar street lights have improved security and extended commercial activity. In education, 49 tertiary institution projects, 18 Mega Schools and over 100 Water, Sanitation and Hygiene (WASH) facilities have expanded access to learning.

?”To date, NEDC has delivered over 300 kilometres of roads and more than 50 bridges, restoring critical transport corridors, improving access to education and healthcare, facilitating trade, and strengthening regional integration.

?Alkali who highlighted different projects executed across the region, said streetlights have been installed in cities and villages, stating that over 100,000 poles were already installed; 48,000 last year and more than 50,000 this year.

Oil & Energy

NMDPRA Seeks Investment To Bridge Infrastructure Gaps, Develop African Oil Price Benchmark

Published

45 minutes ago

August 3, 2026

The Tide

Ahead the West Africa Refined Fuel Market Conference, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stressed the need for investment in the oil and energy sector to bridging infrastructure gaps as well as develop the African oil price benchmark.

The conference, billed to hold from August 11 – 12 , in Abuja, with the theme ‘Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks’, and organised in collaboration with S&P Global Commodity Insights and the West Africa Regulators Forum (WARF), would identify critical infrastructure gaps.

The Chief Executive, NMDPRA, Malam Rabiu Umar, while addressing a press conference in Abuja, last Thursday,

said that the conference would also attract strategic investments and establish a credible African petroleum price benchmark.

Umar, who is also the WARF Chairman, said the initiative was aimed at strengthening Africa’s refining and downstream petroleum value chain while supporting the emergence of a transparent and competitive regional pricing and trading hub.

Umar, who is also WARF Chairman, said it would bring together regulators, investors, financial institutions and industry leaders to develop practical solutions for financing critical infrastructure and logistics.

“Regulators provide the framework that enables fair competition, market transparency, investor confidence, consumer protection, and regional cooperation.

“They also work to harmonise standards and facilitate cross-border trade.

“Efficient markets require efficient infrastructure, Investments in pipelines, storage terminals, ports, rail systems, road networks, refineries, and digital trading platforms, reduced supply costs, improved energy security and enhanced regional integration.

“Improved infrastructure and market efficiency can reduce supply disruptions, lower logistics costs, encourage competition, and support more reliable access to petroleum products across the region,” he said.

According to him, energy markets extended beyond national borders adding that working together enables countries to optimise infrastructure, improve market efficiency, reduce duplication, and strengthen regional energy security,” he said.

He said discussions would also explore the establishment of a credible African reference price benchmark that could reflect regional market realities and promote transparent pricing mechanisms.

Oil & Energy

Renewable Energy’s Indispensable To Nigeria’s Future – REAN

Published

45 minutes ago

August 3, 2026

The Tide

President of the Renewable Energy Association of Nigeria (REAN), Ayo Ademilua, says renewable energy has become indispensable to the country’s future energy mix and called for stronger collaboration among government, regulators, financial institutions, development partners and the private sector to unlock the immense opportunities within the industry.

Ademilua made the remark while speaking at the just concluded Two – Day Solar & Storage Live Nigeria 2026 Conference, held in Lagos.

In a statement signed by the Head of Communications, REAN, Ms Oisereime Lloyd-Dietake, and made available to newsmen, at the weekend, Ademilua described Nigeria’s renewable energy sector as being at a defining moment.

Ademilua said the next phase of Nigeria’s energy transition must prioritise local manufacturing, affordable financing, technical capacity development, innovation, quality assurance and an enabling policy environment that encourages long-term private sector investment.

REAN’s Chief Executive Officer, Motunrayo Akinfala, the statement said, insisted that while Nigeria has made notable progress in renewable energy policy, the industry must now shift its focus towards implementation.

“The time has come for us to move from talk to action. We have held the conversations, developed policies and built strong partnerships. Our priority now must be accelerating implementation, mobilising investment, supporting local businesses, enforcing quality standards and delivering reliable clean energy solutions that positively impact millions of Nigerians,” she said.

According to the statement, Akinfala coordinated the Association’s extensive engagement throughout the conference, ensuring effective stakeholder participation, strategic partnerships and seamless execution of REAN’s activities as the conference’s Official Partner. City& Local Guides

As the leading renewable energy industry association, REAN said it is committed to a continued close working relationship with government, regulators, investors, development partners and its growing membership to champion policies and initiatives that expand energy access, stimulate investment, create jobs and support Nigeria’s transition to a sustainable, resilient and inclusive energy future.

The event is a global conference & exhibition, where leaders from government, industry, development finance institutions and the private sector came together at the Landmark Event Centre to identify practical solutions for expanding renewable energy across the country.

Bringing together key decision-makers from across the energy ecosystem, the conference created an opportunity for stakeholders to move beyond discussions on energy access and focus on building a stronger renewable energy market capable of powering industries, creating jobs and supporting economic development.

The statement further revealed that throughout the two-day event, policymakers, regulatory agencies, development partners, financial institutions, leading renewable energy companies and participants, examined the major issues pertinent to the future of the sector with conversations centred on attracting long-term investment, fiscal incentives and local content, expanding state electricity markets, increasing access to finance, strengthening local manufacturing, developing the skilled workforce required to support the industry’s continued growth, product quality assurance and the growing role of battery storage in meeting Nigeria’s increasing electricity demand.

Participants also underscored the urgent need to eliminate substandard solar products from the Nigerian market through stronger regulatory

enforcement, certification systems, installer competency and increased consumer awareness.

The conference concluded with a shared commitment among stakeholders to deepen collaboration, strengthen policy implementation and create a more enabling business environment that will accelerate renewable energy deployment across Nigeria.