A major sponsor of the just-concluded 40th Annual Conference of the Nigeria Association of Petroleum Explorationists (NAPE), TotalEnergies, has in line with the conference theme, “Global Energy Transition and The Future of the Oil and Gas Industry: Evolving Regulations, Emerging Concepts and Opportunity”, presented a major paper on Health Safety and Environment’s Role in Climate Change, with the topic, “Ocean Bottom Nodes Seismic for Better Field Management”.
Delivering the paper, TotalEnergies’ HSE Performance Coordinator, Ejiro Erharhaghen, noted that the industry has been encumbered by operational and or cost limitations.
He said the relatively new Ocean Bottom Node(OBN) technology, could significantly reduce the logistical encumbrances.
Furthermore, he hinted that the evolution of OBN technology enables the improvement of subsurface imaging bring about higher returns on investment, improved risk reduction and accelerate the pace of unlocking the prize.
The company also held technical sessions at its Exhibition Booth, where a large turnout of students, business people, investors and visitors were educated about the company, while the technical experts through different sessions, dealt with topics relating to the theme of the conference.
Visitors to the TotalEnergies booth were also lectured on topics covering maters relating to jobs opportunities and career placements, contract and procurement requirements, Corporate Social Responsibility and Health and Medical issues in the company.
In another highly technical presentation on Acquisition, Processing 3D and 4D Joint Inversion – Egina Field Case Study, the company gave details of its exploration activities on the Egina field in conformity with the standards and regulations that meet global best practices.
The event which had major key players in the Oil and Gas industry from both local and international platforms, exhibited their products and services.
The conference started with a management session highlighting on the Decade of Gas Initiative, where experts contributed diversely on factors to improve the Lower Carbon Drive in the country.
Earlier in his opening remarks, the President of NAPE, Dr James Edet, said, “The Lower carbon drive is a challenge of this present age, and we have, at this event aligned critical stakeholders to deliberate and present workable collaborative solutions to our industry and also shared their current learnings as we continue to adapt to this green revolution.”
“Furthermore, there are other contending and increasingly relevant issues such as: energy security; the dynamics of gas development, commercialisation and monetisation; development of Nigeria’s under-explored gas rich cretaceous basins; and how Nigeria will adapt her policies and diversify her energy portfolio in the energy transition era so as to achieve sustainable growth for her economy,” he added.
By: Tonye Nria-Dappa
DAPPMAN Raises Concern Over FG’s New Tax Regime
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has expressed concern over the new 0.5 per cent tax on gross turnover of the petroleum marketing firms proposed by the Federal Government.
Executive Secretary, DAPPMAN, Mr Olufemi Adewole, said at the maiden edition of the Platforms Africa Continental Forum in Lagos, that the tax would put many firms out of business.
Adewole said there were indications that fuel distribution crisis may soon hit the country, if the government implemented the new tax regime.
He was emphatic that more than half of the fuel marketing firms in Nigeria would close down, if the tax burden was slammed on them.
According to him, the imminent closure of businesses poses threat to the smooth distribution of petroleum products across the country.
“The petroleum marketing firms’ trading margin is too small that they cannot pay such amount sustainably.
“Petroleum marketers operate a very low margin but the turnover is very huge. Unfortunately the margin does not correspond with the turnover,” said Adewole.
He added that the margins they made when fuel sold at N40 per litre was the same when the price rose to N160 per litre and N200 per litre respectively.
According to him, “The Finance Act 2020 says the marketers have to pay 0.5 per cent from their gross turnover by the end of this year.
“It is unimaginable that probably half of the petroleum marketing firms existing now may go under, if the new tax regime is implemented.
“Except the regulator which is Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) approves a new margin for the marketers.”
He said the association had called on government to give petroleum marketers access to foreign exchange at the official Central Bank of Nigeria (CBN) rate to enhance the supply and distribution of Premium Motor Spirit (PMS) across the nation this yuletide season.
According to DAPPMAN, shortage of foreign exchange (forex) coupled with several unauthorised levies, bad roads are among the factors making fuel importation and distribution burdensome for members.
The Tide source reports that the fuel marketers recently bemoaned the acute scarcity of forex in the official market, which is currently threatening the importation, distribution and impacting deeply on prices of petroleum products across the country.
Niger Wants NNPCL To Establish Truck Transit Parks
Niger State Government has urged the Nigerian National Petroleum Company Ltd. (NNPCL) to establish truck transit parks in some strategic parts of the state to reduce traffic on highways.
The government identified towns such as Tafa, Suleja, Mokwa, Bida, Tegina, Lambata and Minna as major areas to be given attention in that regard.
The Permanent Secretary in the Ministry of Mineral Resources in Niger State, Alhaji Abubakar Idris, made the call during the meeting of National Council on Hydrocarbons organised by the Ministry of Petroleum Resources in collaboration with the State Government.
According to him, the establishment of the parks in the identified areas will reduce traffic on highways and generate revenue for the state and country at large.
In the meeting entitled: “Roadmap and Strategic Option towards achieving energy transition in Nigeria”, Idris presented a memorandum from the State Government to the council on the need for the establishment of the transit parks.
He explained that it would also create a partnership between the state and federal government to reduce the negative effects of heavy road traffic on highways.
He explained further that the trucking industry was indispensable to the Nigerian economy as “truckers are responsible for delivering fuel from depots to filling stations where they are dispensed.
“For these reasons, funds need to be released to build truck parks for ease of operations”, he said.
He also called for the establishment of a frontier basin development commission with its headquarters in Niger State.
According to him, the establishment of the commission will expedite the effective implementation of Petroleum Host Community Trust Fund and frontier basin exploration fund as captured in the Petroleum Industry Act 2021 with headquarters in Niger.
He said Nigeria’s frontier basins consist of Anambra basin, the lower, middle and upper Benue trough, the South eastern sector of the Chad basin, the Mid-Niger (Bida) basin and Sokoto basin.
According to him, the basins would be better positioned for the opportunities in the hydrocarbons natural gas, oil and other minerals.
He noted that the establishment of frontier basin development commission would offer greater opportunities to actualise the state dream of oil and gas economic value-chain and industrialisation in Nigerian frontier basins.
Motorists Groan Over Fuel Scarcity
Long queues resurfaced in Lagos as motorists spent hours at filling stations to buy Premium Motor Spirit (PMS), popularly known as petrol.
The situation was worse on Ikorodu Road, Maryland, Ikeja, Anthony, Bariga, Ilupeju and Gbagada areas as motorists were agitated for spending hours on queues.
The Tide source reports that the development left commuters stranded with gridlocks in major areas of Lagos as motorists queued to buy the product.
The source also reports that only filling stations owned by Major Oil Marketers Association of Nigeria (MOMAN) had petrol and sell at the regulated price of N170 per litre.
Some stations owned by Independent Petroleum Marketers Association of Nigeria (IPMAN) sell between N200 and N210 respectively.
A motorist, who identified himself as Mr Foluso Saliu, told the source that he had been on the queue since 6.30 a.m. hoping to get fuel and return to work.
He said government should find a lasting solution to petrol supply in Lagos to avoid panic-buying.
“Scarcity has been frequent during the ember months and l hope it will be addressed,” he said.
Another motorist, Mr Julius Albert, urged filling stations to avoid selling petrol in jerry cans to allow vehicles to buy on time.
Albert appealed to the government to fully deregulate the downstream sector of the petroleum industry if that was the solution to availability of petrol without stress.
According to him, the product seems to be available in some filling stations but they choose to hoard it and sell at higher prices.
Queues were seen at Mobil, NNPC, Conoil, Oando and Nipco filling stations on Ikorodu Road.
Also, queues were cited at TotalEnergies, TMAAC on Bank Anthony Road and Conoil, opposite LASUTH.
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