Page 11 - AfrOil Week 11 2022

AfrOil PERFORMANCE AfrOil

“The timing for Uganda to optimise investment situation. In comparison, Nigeria and Angola
and exploration and to kickstart its production both produce more than 1mn bpd.
engines is now,” said NJ Ayuk, executive chair- Uganda isn’t the only country likely to see oil
man of the AEC. “Price uncertainty across the and gas production rise in the next few years. In
globe and energy poverty in Africa provide a East Africa, Kenya also hopes to launch crude
perfect storm for Uganda to enhance its oil and oil production within the next few years, while
gas market and to emerge as both a regional and Mozambique and Tanzania are making efforts
global energy supplier.” to commercialise their offshore gas resources.
According to the AEC, Uganda’s oil and Meanwhile, several West African countries,
gas reserves mean the country could produce including Mauritania and Senegal, are working
230,000 barrels per day (bpd) for 15 years, which to bring their own vast untapped gas resources
could have an effect on stabilising Africa’s supply to market. ™

PERFORMANCE
Nigerian presidential administration lauds

NNPC’s efforts to ease gasoline shortages

NIGERIA A representative of Nigerian President Muham- zone and more than 100mn in the Warri/Oghara
madu Buhari’s administration told Vanguard on loading zone and the balance held in marine
Sunday (March 13) that efforts by the national storage facilities, he stated. This is enough to
oil company (NOC) to ease the fuel shortages cover about one month of consumption, assum-
that have gripped the country for the past few ing that the country’s drivers use about 60mn
weeks were having a positive impact. litres per day, he said.
The administration official, who was not “By the middle of last week, a National Filling
named, reported that Nigerian National Petro- Stations Queue Map presented to the Presidency
leum Corp. (NNPC) had continued to move and [the Federal Executive Council] indicated
petrol and diesel from its storage depots 24 that fuel supply had returned to normal in four
hours a day with the aim of making more fuel states of Bayelsa, Akwa Ibom, Cross River and
available to retail sellers. This is expected to help the [Federal Capital Territory],” the official
shorten the queues at filling stations, he said. added.
These measures are in line with the plans “In another six states, there were very small
that NNPC agreed with the federal government queues with mostly about 10 cars at a time.
earlier in March, he noted. They are also being Those states are Oyo, Osun, Lagos, Imo, Abia
carried out with “the direct participation and and Ebonyi,” he continued. “It also indicated
support of members of the Major Oil Marketers that in 13 states, there were medium queues of
Association of Nigeria (MOMAN), Independ- maximum 50 cars. Those states are Delta, Rivers,
ent Petroleum Marketers Association of Nigeria Anambra, Edo, Ekiti, Kogi, Nasarawa, Bauchi,
(IPMAN) and private depot owners,” he added. Kano, Ogun, Ondo, Sokoto and Zamfara. In the
As of March 11, Nigeria’s inventories of pet- rest of the 14 states, there were still High Queues
rol amounted to more than 1bn litres, with more of above 50 cars at a time in the filling stations as
than 200mn of the total in the Lagos loading at [the] middle of last week.” ™

The presidential administration says drivers are still queuing up to buy fuel in some states (Image: NAN)

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