Business
DPR offers Rano, Matrix, others marginal oil field licences
The Department of Petroleum Resources on Monday awarded marginal oil field licences to a number of indigenous oil firms including A.A. Rano, Shafa Exploration, Matrix Energy and Vhelblerg Exploration
Other are Sigmund Oil Field, Emadeb Energy, Casiva Ltd, Duchess Energy and Duport Midstream.
The award came a year after 2020 marginal field bid round began with 591 companies applying to win 57 oil fields on offer.
The oil fields are located onshore, swamps and offshore.
The DPR estimates that Nigeria would produce additional 100 million barrels of crude oil from the 57 fields, in the coming years.
The DPR Director/CEO, Auwalu Sarki, said at the award ceremony in Abuja that the fields would boost Nigeria’s daily oil production capacity beyond the current three million barrels per day.
He said after undergoing lengthy and vigorous process, 161 companies were shortlisted as potential awardees out of which 50 per cent met all conditions.
He noted that the department would not abandon the companies after the award but would work with them to ensure immediate development and attainment of first oil in record time.
He said, “The journey began exactly one year ago, June 1, 2020 with the launching of the bid round registration portal. The portal eased the registration and application process and ensured a transparent exercise.
“It also provided the platform for the virtual data room. It is important to state that the industry-enabled National Data Repository provided all the requisite technical and logistics support for the successful conduct of the exercise.”
He said the DPR would ensure that the indigenous companies face minimal challenges from the International Oil Companies, the original lease owners for the fields.
He explained that the challenges that hindered the attainment of full development of the last marginal fields award 17 years had been considered and tackled.
He added that of the 24 fields awarded in 2003, 11 fields remained undeveloped locking in over 40 million barrels of oil.
Sarki said, “With the lessons of the previous exercise we want to refocus, change the approach, we have developed strategy to ensure you (the companies) and the awarded fields achieve early development.
“The DPR will continue and guide all of you every step of the way. For instance, the guiding template for working agreement has been drafted for joint awardees and discussions have reached advance stage between DPR and lease holders on the farm out agreement.”
The DPR boss expressed optimism that the development of the oil fields would stimulate job creation because “all the awardees have to recruit people which mean more taxes and revenue to government and at the same time it enhances the GDP because the contribution of the industry to the GDP is very low.”
Chairman of Vhelblerg, Bank Anthony Okoroafor. Who spoke on behalf of other winners, expressed gratitude to the DPR for holding a transparent bid exercise.
He said, “It was open to everybody; there was communication established with everybody and they did their own work very well.”
He urged the DPR to support the winning firms by talking to the IOCs to allow the operators use their facilities if considered the most effective options.
Business
Shell working to address Nigeria’s energy challenges – MD
Shell working to address Nigeria’s energy challenges – MD
Shell says it is working hard to achieve sustainable progress in Nigeria’s energy sector through its businesses in the upstream, midstream and downstream as well as renewable areas.
Country Chair, Shell Companies in Nigeria and Managing Director, Shell Petroleum Development Company of Nigeria Ltd (SPDC), Osagie Okunbor, disclosed this.
He spoke through the company’s Exploration Manager, Gogo Eneyok, at the opening of the 42nd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).
Okunbor said the range of the Shell businesses had been integrated across the energy value chain and working hard to address the challenges as captured in the theme of the event ‘Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth & Affordability’.
In addition to the SPDC, the other Shell businesses in the country are Shell Nigeria Exploration and Production Company Limited (SNEPCo), Shell Nigeria Gas (SNG), Daystar Power and All On as well as Nigeria Liquefied Natural Gas (NLNG) in which Shell has 25.6% interest.
Okunbor said, “Shell, working with government, regulators and stakeholders, is actively participating in finding a pathway through the energy trilemma.
“We are focused on generating maximum value and cash to power the country.”
Referring to efforts towards low and zero-carbon products to market, he said, “Shell is deploying latest technologies in reducing emission in our operations and we are well on track to meet our forecasted Green House Gas reduction targets.
,”SNG is also increasing domestic gas delivery through its distribution network of 150 kilometers in Nigeria while Daystar and All On are giving individuals and communities access to cleaner and affordable energy.”
Okunbor however pointed out that for these and other efforts and investments to achieve the desired results, government had to improve the regulatory environment with continuous improvement in the provisions in the Petroleum Industry Act.
“The menace of crude theft and illegal refining must also be tackled to safeguard the nation’s resources and protect the environment,” he added.
The opening ceremony of the NAPE conference featured a tour of exhibition stand by the executive members of body.
He and other dignitaries were conducted round the Shell stand by Magdalene Umoh, a senior production systems engineer.
She gave an insight into to the milestones of Shell businesses in Nigeria including social investments and development of Nigerian contractors and vendors.
The Shell stand is complemented by a well-staffed medical team attending to participants and visitors for the duration of the four-day conference.
Business
After Multichoice lost 243k subscribers, More customers threaten to leave
After Multichoice lost 243k subscribers, More customers threaten to leave
Multichoice Group, an African pay-TV operator, on Tuesday, announced that its Nigerian subsidiary lost 243,000 subscribers on its Digital Satellite Television (DStv) and General Entertainment on Television (GOtv) services between April and September 2024.
The company revealed these figures in its Interim Financial Results for the period ending 30 September 2024.
MultiChoice attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, driven by the rising costs of food, electricity, and fuel, causing many customers to disconnect.
In its financial report for March 2024, MultiChoice had earlier reported an 18% subscriber loss in Nigeria.
The company further reported a 566,000-subscriber loss in the Rest of Africa (RoA) operations over the past six months, with Zambia and Nigeria contributing the largest shares to this decline.
“The group’s linear subscriber base declined by 11% or 1.8m subscribers YoY to 14.9m active subscribers at 30 September 2024.
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“The loss in the Rest of Africa has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30% for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia.
“Of this decline, 298k related to Zambia and 243k related to Nigeria, with remaining markets on the continent reflecting only a minor decline of 25k,” It said.
Meanwhile more customers in Nigeria have threatened to switch allegiance.
While reacting to the story on a WhatsApp platform, a subscriber said: “They will lose more because I’ll soon leave them too.”
On X, @AGUNviews wrote: “They will lose more subscribers”
@Jaheim007: “The numbers are about to triple.”
@skyedron commented: “All anyone needs to acquire is the internet and a few clicks. Multi choice my foot.”
@ribaduabubakar2: “I subscribed to another platform and simply ignored them. They kept increasing the price as if someone would die without them. I am willing to give out my decoder and dish for free.”
@AbelFidelis4: “This is just the beginning. I stopped using DStv in 2022.”
@NdubuisiNC: “The downfall of this company in Nigeria will be televised and will be sweet to me. A company this big can’t improvise on their content?. Nigerians have cried for years about how boring it is, only football channels are what’s keeping most of us.”
@Ekoh4Ekoh: “They should be ready to lose more customers and it is good for them. They have to reduce their monthly subscription and make it pay as you go.”
@cashoggy: “They will still lose more subscribers. Internet and smart TV has rendered Dstv unattractive with their rate. Imagine paying 25,700 for a premium subscription when you can surf the Internet and watch all the programs for less.”
@rilwan_ola01: “They will suffer even greater losses.”
After Multichoice lost 243k subscribers, More customers threaten to leave
Business
XGT Smart Consults unveils renewable energy, others power solutions
XGT Smart Consults unveils renewable energy, others power solutions
XGT Smart Consults, a power solution firm, says it is ready to deliver renewable energy and other long-lasting energy solutions that will address the power challenges causing huge economic losses and discomfort.
The firm also says it has signed an agreement with an India-based company, ADM-Orient Solar Power, to achieve its goals.
This is contained in a statement by the XGT, revealing a holistic approach to energy provision.
It stated, “XGT Smart Consults is thrilled to announce a strategic partnership with ADM-Orient Solar Power (India) aimed at addressing one of Nigeria’s most critical issues – reliable power solutions.”
It stated that its target is to provide Nigeria with solutions to overcome the frequent power outages by empowering homes and businesses with reliable, renewable, and affordable power.
This, it said, would be achieved in conjunction with its partners through renewable energy systems, advanced electrical services, independent power production (IPP) solutions, portable natural gas generators, automation services, and the rental and leasing of CNG tube skids.
Managing Director of XGT Smart Consults Limited, Olu Harrison, said, “The objective is to provide reliable cost-effective and environmentally friendly energy to households and businesses throughout Nigeria.
“Understanding the intricacies of the energy crisis, XGT employs a holistic approach that integrates renewable energy solutions, independent power generation, and innovative technologies tailored to the specific requirements of Nigerian consumers.
“Our goal is to empower every Nigerian household and business by revolutionizing the production, distribution, and consumption of energy.”
According the statement, XGT specifically specializes in providing innovative renewable energy solutions designed to meet the unique climate and energy needs of Nigeria.
“Our wide ranges of solar and sustainable energy systems are suitable for individual homes, corporate settings, and community projects.
“By harnessing the power of renewable energy, XGT offers environmentally friendly alternatives that reduce reliance on the national grid and significantly cut energy costs,” it added.
The company’s Executive Director Toluwase Oni, gave more insights into the IPP for businesses, industries and communities/estates.
“XGT’s IPP solutions provide a solution to the urgent need for self-sufficient power generation, particularly in industrial and commercial sectors where power reliability significantly affects productivity and revenue.
“By establishing a network of captive/ localized, independent power systems, XGT Power-IPP empowers Industries, businesses and communities/estate to take control of their energy needs,” he stated.
Apart from the renewable energy sources, the firm said it offers a range of portable natural gas generators providing a flexible energy solution for areas with limited grid connectivity or for users in need of extra backup during power outages.
“These generators are designed with user-friendly features and portability in mind, enabling users to power essential operations without depending on traditional, often unreliable, grid infrastructure,” it added.
“In conjunction with these generators, XGT specializes in automation systems that optimize energy management to improve efficiency, reduce waste, and streamline operations.
“Automated controls enable businesses to remotely monitor and adjust energy usage, ensuring that energy is utilized intelligently and cost-effectively.”
As part of its services, it disclosed that the company offers rental and lease services for compressed natural gas (CNG) tube skids to interested industries in recognition of the increasing demand for CNG as a cleaner alternative to traditional fuels.
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