Page 10 - AfrOil Week 44 2022

AfrOil POLICY AfrOil

Meanwhile, the NPA has shied away from com- inflationary effect on the prices of goods and
menting on the recent surge in prices of petro- services in Ghana.
leum products, appearing to be leaving that in As such, they have affected the country’s
the hands of the Energy and Finance Ministries, businesses and have contributed to a crisis in
Citi News indicated. the cost of living, with annual inflation at 37.2%
The surge in petroleum prices has had an in September, a 21-year high. ™

Edo state’s governor urges local

processing of crude oil, natural gas

NIGERIA GODWIN Obaseki, the governor of Edo in metre) gas-processing plant, a 10mn cubic foot
southern Nigeria, said on November 1 that his (283,200 cubic metre) CNG plant, a 50-MW
administration aimed to encourage crude oil thermal power plant (TPP) and a data centre.
and natural gas producers working in the state The governor was visiting Duport Energy
to process their output in local facilities rather Park during an inspection for test operations,
than sending them elsewhere. This Day reported. He used the occasion to
Ideally, he commented, the state govern- describe Edo State as a growing hub for the oil
ment would like to see 100% of the oil and gas and gas industry.
extracted in Edo sent to local oil refineries and This Day explained his remark by noting that
gas-processing plants. He said his administra- Edo was also home to a second modular refinery
tion had set this milestone as its target and noted – a 6,000 bpd facility operated by Edo Refinery
that making this shift would increase the state’s and Petrochemical Ltd. This organisation is a
foreign currency revenues while also diversify- three-member consortium set up by Peiyang
ing its economy. Chemical Equipment Co. (PCC) and Sinopec
“Due to the benefits and advantages that we International Petroleum Service Corp. (SIPS) of
have in Edo State to have onshore oil and gas China, as well as African Infrastructure Partners
production, we are now attracting investors to (AIP), a US-Nigerian firm. ™
utilise that production locally,” he said, accord-
ing to a report from This Day. “Our goal is that
every drop of crude oil and gas produced in
Edo State is used here for national development
rather than exporting it.”
Obaseki was speaking during a visit to
Duport Energy Park, a facility built in Egbokor,
a village within the Orhionmwon local gov-
ernment area (LGA) of Edo. The energy park
was built by Duport Midstream, a Nigerian
company. It includes a 10,000 barrel per day
(bpd) modular oil refinery owned by Nigeria’s
Atlantic International Refinery and Petrochem-
ical, as well as a 60mn cubic foot (1.7mn cubic Duport Energy Park is home to a 10,000-bpd refinery (Photo: Duport Midstream)

PROJECTS & COMPANIES
Shell eyes LNG bunkering hub in Suez Canal

NIGERIA SHELL (UK) is looking to work with several letter of intent (LoI) with state-owned Egyptian
Egyptian companies to establish an LNG bun- Natural Gas Holding Co. (EGAS) and three pri-
kering hub to serve ships transiting the Suez vately-owned firms – Eagle Oil & Gas, Infinity
Canal, according to the North African country’s Solar and Pyramid Navigation – on the project.
Ministry of Petroleum Resources. The partners will conduct a feasibility study and
The ministry reported on October 30 that consider setting up a joint venture to build the
Shell Global, a subsidiary of Shell, had signed a LNG bunkering hub, it said in a statement.

P10 www. NEWSBASE .com Week 44 03•November•2022