Page 14 - DMEA Week 36

DMEA
neWs in Brief
DMEA
PoliCy
Al-Jaber, Novak explore potential collaboration
dr. Sultan Ahmed Al Jaber, UAE Minister
of State and Group CEO of the Abu dhabi National Oil Company (AdNOC) and Alexander Novak, Minister of Energy of the Russian Federation, met to explore potential opportunities for collaboration as AdNOC seeks to expand its strategic partnership and investment base across its entire value chain.
e discussions between dr. Al Jaber and Novak coincided with the 24th meeting of the World Energy Congress in Abu dhabi and builds on a previous meeting, which took place in July 2019 in Moscow.
dr. Al Jaber said: “Building on the strong bilateral relationship, which exists between the UAE and Russia, there is signi cant potential for further collaboration on energy issues. AdNOC is open to exploring partnership and co-investment opportunities across the full value chain as we seek to develop ties with new global partners who share our vision and determination to forge strategic, value added and commercial partnerships.”
during the visit, Minister Novak was given a tour of Abu dhabi and visited AdNOC’s pioneering Panorama digital command center to see how AdNOC is using big data technologies and arti cial intelligence,AI, to help extract maximum value from its assets and resources.
Alexander Novak noted that the Russian Federation is keen to explore partnership opportunities across the entire upstream and downstream energy sector with the UAE. “Co- operation in the eld of energy has enormous potential. Promising areas for collaboration between companies from Russia and the UAE lie in the development of trading activities in hydrocarbons as well as joint projects in the
elds of mining and trading.”
WAm
refininG
Petroleum university to
build modular refineries,
biomass
Pro-Chancellor and Chairman of the Governing Board of the Federal University of Petroleum Resources, E urun, delta State, Prof Abdullahi Shehu Zuru, has announced plans to establish modular re neries and biomass production in the country.
Professor Shehu Zuru, who made this known at a media brie ng recently, said the institution is playing a lead role in rede ning the country’s alternative energy mix by setting up the company ‘Energy Solutions’ in the school.
“We have secured strategic partnership with similar institutions like the University of Brunel in the UK in organizing the national workshop on biomass as an alternative energy mix for the country and it is also another milestone and we have won awards,” he said.
“ e university is developing a modular re nery. We would like to key into the Federal Government resolve to licence modular re neries to augment our aggregate petroleum production and local re ning capacity.”
dAily trUst
Nigeria secures Chinese loan for modular refineries
e Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the
establishment of modular re neries and the Flare Gas Recovery Programme in Nigeria. Speaking at the signing ceremony in
Beijing, BOI’s Managing director, Mr Olukayode Pitan, emphasised the job creation potential of the partnership saying, “I am delighted to begin the next chapter of a long- term trading relationship with China through CEXIM.
“ is agreement is set to create over 100,000 jobs in Nigeria’s Oil & Gas sector – a decisive move that will advance the Federal Government’s Modular Re neries and Flare Gas Recovery Programme,” he said.
As part of the MoU between BOI and CEXIM, the facility will be utilized to nance the purchase of equipment and machinery from China by investors and project owners of modular re neries in Nigeria. e BOI boss said the aim is to ensure availability of re ned petroleum products within the country, monetize gas are, reduce cost of products in the mid-term and provide employment for Nigerians. he said establishment of modular re neries is part of the FG’s plan to end importation of petroleum products and to discourage illegal oil bunkering activities in the Niger delta region. A total of 38 operating licenses have already been granted by the Federal Government to establish modular re neries in the Niger delta.
dAily trUst
PetroChemiCAls
Honeywell Oleflex technology selected for propylene production in Algeria
Sonatrach Total Entreprise Polymères (STEP)
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w w w . N E W S B A S E . c o m
Week 36 12•September•2019