Page 15 - DMEA Week 46 2021

DMEA NEWS IN BRIEF DMEA

acquisition of rival Enyo Retail and Supply to 181,000 b/d in 2018, 155,000 b/d in 2019, urea and urea ammonium nitrate (UAN) units
Limited, its board of directors said in a letter 85,700 b/d in 2020, and 39,000 b/d so far this within an existing fertilizer facility, the state
posted on November 17 by the Nigerian year. finance guarantees agency said.
Exchange Ltd. These figures are based on estimates The urea plant would have a capacity of
Ardova, previously owned by billionaire and vessel-tracking, because assessing the 1,640 tonnes/day of granular urea and 500
Femi Otedola under the name Forte Oil, rate of Iranian exports is complicated by tonnes/day of UAN. It would operate on
announced in January that it had brokered a some shipments not being visible. Tankers urea technology provided by Stamicarbon, a
deal with Enyo to acquire a 100% equity stake belonging to Iran’s state-owned NITC fleet subsidiary of the Maire Tecnimont Group, UK
in the latter. regularly turn off their transponders during Export Finance added.
With the acquisition, Ardova will add 90 voyages. One key feature of the plant would be a
filling stations and about 100,000 customers According to market estimates, at least 45MW natural gas-fired steam boiler.
to the 450 retail outlets it currently owns, 50pc of the 0.8mn-1.1mn t/month (5.2mn- BNE
making Ardova Nigeria’s largest indigenous 7.1mn bl/month) of HSFO sold in the Middle
publicly listed downstream company. East’s main bunkering hub in Fujairah,
“The addition of Enyo to the Ardova UAE, was from Iran before 2018. This year, PIPELINES
group fits into our expansion strategy to even with sanctions in effect, 62pc of Iran’s
have the widest retail reach in the Nigerian HSFO exports have found their way via Fuel pipeline explosion in
downstream sector,” Ardova chief executive intermediaries to the UAE, and only 8pc to
Olumide Adeosun said in a statement. Singapore, according to Vortexa. southern Iran
“It also provides the platform to increase If the talks in Vienna prove successful
our non-fuel revenue through the sales of and sanctions are lifted, Iran would be able An oil and gas pipeline in Iran’s Khuzestan
products such as AP and Shell branded to ramp up exports into the Middle East and province exploded and caught fire on
lubricants, LPG and renewable energy Asia-Pacific regions, possibly putting pressure Wednesday in what the official media said was
solutions that will be channelled through the on refining margins and premiums. The the result of metal “fatigue”.
group-owned retail outlets.” sanctions regime has left Iran with a surplus of While Iran’s Tasnim news agency
Ardova has significant storage facilities fuel oil, which has forced cuts to refinery runs affiliated with the Revolutionary Guard said
in Apapa, Lagos and Onne, Rivers State, and diversion to power utilities to use instead an oil pipeline exploded, Images sent by
and procures and distribute petrol, diesel, of natural gas. local residents show huge, ferocious flames
kerosene and liquefied petroleum gas (LPG). The Mideast Gulf region could become shooting into the sky, in what seems more
BNE even more over-supplied when Kuwait’s long- likely to have been a gas pipeline fire.
delayed 615,000 b/d al-Zour refinery starts up A tweet from the scene by an account
Iranian fuel oil exporters next year. This will add as much as 215,000 tagged as “Iranworkers” also mentions a gas
pipeline explosion, the second in less than a
b/d of HSFO to regional output.
wait for Vienna talks ARGUS month in the same area.
Residents in a village nearby also reported
Iranian fuel oil exporters are awaiting the a strong initial explosion that felt “like an
outcome of the imminent US-Iran talks for PETROCHEMICALS earthquake”.
signs that they could restore trade, which There have been many explosions and
could affect refining margins east of Suez. UK Export Finance may fires in Iran’s military and industrial site since
Should there be a breakthrough at the mid-2020, with authorities not giving a full
talks, which will resume in Vienna on 29 support Turkish fertilizer explanation in many instances. However, they
November, Iran could bolster high-sulphur have blamed Israel for a series of spectacular
fuel oil (HSFO) exports. These have fallen by project sabotage attacks on nuclear facilities,
83pc since Washington abandoned the Iran including two explosions at Natanz uranium
nuclear deal in 2018 and reimposed sanctions UK Export Finance on November 16 stated enrichment center.
on Tehran. that it was considering backing a project The oil and gas industries have also
Iran is a major HSFO producer and was announced by Gemlik Gubre Sanayii to experienced many incidents of exploding
a large exporter. It shipped 240,000 b/d of construct a urea fertilizer installation in Bursa, pipelines and refineries where large fires
the product in 2017 according to Vortexa. northwestern Turkey. ignited.
But exports have fallen consistently since, Gemlik Gubre Sanayii is planning to build IRAN INTL

Week 46 18•November•2021 www. NEWSBASE .com P15