Business
Shell Nigeria gets new MD, Elohor proceeds on international assignment
Shell Nigeria gets new MD, Elohor proceeds on international assignment
Shell has named Ronald Adams as a new managing director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo).
Adams, formerly chief executive officer of Atlantic LNG, Trinidad and Tobago, takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director.
Both appointments took effect from October 1, according to Shell.
Reacting to the development, Country Chair, Shell Companies in Nigeria, Osagie Okunbor, said, “I’m pleased to welcome Ronald to Nigeria to consolidate and further improve the outstanding performances of SNEPCo in deep-water production and life-changing social investments across Nigeria.
“I wish to congratulate Elohor for the outstanding deliveries since she took over in August 2021.
“The assignment in Brunei is another opportunity for excellent contributions to the Shell Group.”
The new MD is a 32-year veteran of the energy industry having successfully guided both Shell operated and non-operated ventures through commercial and technical challenges. He holds a BSc in Chemical Engineering from the University of the West Indies and an MBA with a specialisation in Strategic Planning from Herriot-Watt University, Edinburgh, Scotland.
Outside of work, Ron as he is fondly called loves to spend time with his family and frequents the gym.
He also spoke on his appointment, saying, “I’m excited at the opportunity to be part of the success story of SNEPCo and look forward to joining the team of talented staff to deliver even more value to stakeholders.”
Elohor’s tenure as SNEPCo managing director is said to have witnessed many milestones.
She was quoted as saying, “It has been a great honour to work alongside colleagues and external stakeholders in our modest efforts to build a safe, simpler and cost-disciplined business that continues to lead the way in deep-water operations in Nigeria. I’m particularly grateful for the invaluable support and encouragement of our concessionaire and co-venture partners which made the task easier.”
SNEPCo pioneered Nigeria’s deep-water development in 2005 when it began production at Bonga through the 225,000-barrel-per-day-capacity Bonga Floating, Production, Storage and Offloading vessel, anchored 120-kilometre offshore in the Gulf of Guinea.
Business
90 million litres stuck as NNPCL shuts petrol purchasing portal – Marketers
90 million litres stuck as NNPCL shuts petrol purchasing portal – Marketers
Oil marketers have raised concerns about a potential fuel scarcity following the shutdown of the Nigerian National Petroleum Company Limited (NNPCL) petrol purchasing portal.
The shutdown has prevented dealers from placing new orders for fuel, leading to supply disruptions.
According to marketers, over 90 million litres of petrol, worth approximately N79 billion, are pending delivery from NNPCL.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed that while marketers can still load fuel, they cannot access the portal to check prices or make new purchases.
READ ALSO:
- Rivers crisis: PDP moves against Fubara, demands suspension of LG elections
- Universities on verge of collapse over huge electricity bill – ASUU
- 74-year-old woman stabbed to death by boyfriend during heated argument
Ukadike stated that there are currently over 2,000 pending tickets for 45,000-litre petrol trucks, which amounts to a significant volume of fuel awaiting supply. He warned that the continued closure of the portal could result in another wave of fuel shortages across the country.
Other marketers, speaking anonymously, echoed concerns that the portal’s shutdown is already causing fuel shortages.
One marketer mentioned, “Everyone is affected because we all go to the NNPC portal to place our orders, and when the portal is inaccessible, supply is disrupted.”
As of now, there has been no official response from NNPCL spokesperson Olufemi Soneye regarding the situation. However, some marketers believe the portal was shut down temporarily to resolve backlogs of pending orders.
90 million litres stuck as NNPCL shuts petrol purchasing portal – Marketers
Business
Naira appreciates to N1,685 in parallel market
Naira appreciates to N1,685 in parallel market
The Naira yesterday appreciated to N1,685 per dollar in the parallel market from N1,700 per dollar on Monday.
Similarly, the Naira appreciated to N1,659.26 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,659.26 per dollar from N1,669.15 per dollar on Wednesday, indicating N9.89 appreciation for the naira.
READ ALSO:
- Bobrisky : Why I didn’t drag VeryDarkMan to court – Falana
- Minimum wage: Disquiet as FG makes selective payment
- US President Biden does not believe there will be ‘all-out-war’ in Middle East
The volume of dollars traded (turnover) in the official market increased sharply by 155.2 percent to $450.39 million from $176.45 million traded on Wednesday.
Consequently, the margin between the parallel market and NAFEM rate narrowed to N25.74 per dollar from N30.85 per dollar on Wednesday.
Naira appreciates to N1,685 in parallel market
Business
Naira records marginal appreciation, exchanges for N1,700/$
Naira records marginal appreciation, exchanges for N1,700/$
The Naira yesterday appreciated to N1,700 per dollar in the parallel market from N1,705 per dollar on Monday.
Similarly, the Naira depreciated to N1,669.15 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,669.15 per dollar from N1,541.94 per dollar on Monday, indicating N127.2 appreciation for the Naira.
READ ALSO:
- FG exempts VAT payment on diesel, gas, electric vehicles
- Hire military contractors to wipe out Boko Haram, Ndume tells Tinubu
- Rivers govt declares Thursday, Friday public holidays for LG poll
The volume of dollars traded (turnover) in the official market declined by 2.97 percent to $176.45 million from $181.86 million traded on Monday. Consequently, the margin between the parallel market and NAFEM rate narrowed to N30.85 per dollar from N163.06 per dollar on Monday.
Naira records marginal appreciation, exchanges for N1,700/$
-
Sports3 days agoOsimhen says he is worth more than €100m
-
metro1 day agoJust in: Court bars VIO from impounding vehicles, imposing fines
-
metro3 days agoFRSC recovers N8.6m from accident scene in Kaduna
-
Business2 days agoNaira records marginal appreciation, exchanges for N1,700/$
-
Business3 days agoNNPCL delivers 48.6m barrels of crude to Dangote Refinery
-
International3 days agoUK dad finally meets daughter 15 months after DNA result was falsified
-
Entertainment3 days agoMohbad: Yomi Fabiyi confirms fleeing Nigeria after two attempts to assassinate him
-
Business2 days agoFG exempts VAT payment on diesel, gas, electric vehicles