Page 14 - DMEA Week 02 2020

DMEA
NEWS IN BRIEF
DMEA
According to Saidu, the total quantity of PMS supplied across the nation as at November 2019 was 18.62bn litres and the PMS average suffi- ciency stood at 40.68 days.
He noted that 1,612 vessels laden with dif- ferent petroleum products docked in Nigerian waters in 2019.
Saidu called for increased private participa- tion in the refining business and the revamp of the country’s refineries for improved produc- tion and to stem the tide of fuel import into the country. He said: “A breakdown of marketers performance shows that the Nigerian National Petroleum Corp. (NNPC) was responsible for 99.61 per cent of the total 19.18bn litres of petrol that was imported, while Major Oil Marketers of Nigeria (MOMAN) imported 0.39 per cent in 2019. On the other hand, 166.33mn litres of PMS was produced locally in the same year.
“Other petroleum products imported into the country are 4.59bn litres of Automotive Gas- oline Oil, AGO; 128.11mn litres of Household Kerosene, HHK; 951.77mn litres of Aviation Turbine Kerosene, ATK; 306.79mn litres of Base Oil; 125.56mn litres of Bitumen and 45.98mn litres of Low Pour Fuel Oil, LPFO.”
Vanguard, January 9 2020
POLICY
Nigerian oil marketers
set for showdown with
government
A confrontation that would trigger another round of fuel crisis is currently brewing between oil marketers and the Federal Government, as the marketers have given the government an ultimatum to fully deregulate the downstream sector of the country’s petroleum industry; put a motion in place to increase marketers mar- gin from the sale of Premium Motor Spirit, also known as petrol or risk a collapse of the industry.
In an interview with Vanguard in Abuja, spokesperson for one of oil marketing groups, who chose not be named, claimed that from the present arrangement in the fuel trading business, where the Nigerian National Petroleum Corpo- ration, NNPC, is the sole importer of petrol, oil marketers are currently not making any profit from the sales of the commodity.
Increasing oil marketers’ take, listed as Trad- er’s Margin in the PMS pricing template would lead to an increase in the price of petrol if other variables were left constant in the template.
Also, deregulating the downstream petro- leum industry, would trigger a rise in fuel price, as the current template of the Petroleum Prod- ucts Pricing Regulatory Agency, PPPRA, puts
the expected open market of PMS at N179.50 per litre, meaning that the government is paying N34.50 as subsidy per litre of petrol.
However, when contacted on the impending showdown with marketers, spokesperson for the Nigerian National Petroleum Corporation, NNPC, Mr Samson Makoji, claimed he was in a meeting, and promised to provide the NNPC’s response on the issue at a later time. As at the time of going to press, he was yet to respond. Vanguard, January 09 2020
ADNOC plans to decrease
its greenhouse gas
emissions by 25% by 2030
The Abu Dhabi National Oil Company (ADNOC) has announced a set of comprehen- sive sustainability goals, extending its legacy of responsible oil and gas production and reinforc- ing its longstanding commitment to environ- mental stewardship. The announcement was made by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO while speaking at the opening ceremony of the Abu Dhabi Sustainability Week (ADSW).
The sustainability goals support ADNOC’s vision to become best-in-class in sustainability, maximising value for the United Arab Emir- ates (UAE). They also underscore ADNOC’s strong environmental, social and governance (ESG) performance as the company responds to rising global energy demand and delivers its 2030 smart growth strategy. In addition, they are aligned with the United Nation’s (UN) Sus- tainable Development Goals on responsible consumption and production, climate action, protecting biodiversity and enhancing economic
opportunity.
As part of its sustainability goals, ADNOC
plans to decrease its greenhouse gas (GHG) emissions intensity by 25% by 2030, strength- ening its position as one of the least carbon-in- tensive oil and gas companies in the world. According to the International Association of Oil & Gas Producers (IOGP), ADNOC cur- rently ranks in the top five lowest GHG emitters in the oil and gas industry and has one of the low- est methane intensities of 0.01%.
ADNOC also commits to limit its freshwater consumption ratio to below 0.5% of total water use. Today, over 99% of the water ADNOC uses for cooling purposes is extracted seawater which is discharged back to sea after undergoing treat- ment to ensure compliance with ADNOC’s strict discharge standards.
In addition, ADNOC will continue to protect and support biodiversity across its operations and the broader local environment. As part of this commitment, ADNOC plans to plant 10mn mangrove seedlings in Al Dhafra Region in the emirate of Abu Dhabi by the end of 2022.
Mangroves have enormous capacity to absorb atmospheric carbon dioxide (CO2) and other greenhouse gases, trapping them in flooded soils. Mangroves also support rich biodiversity and provide habitat for marine life, and act as a valuable natural defense against rising sea levels and coastal erosion.
Over the same period, ADNOC plans to achieve In-Country Value (ICV) of 50% across its full value chain by 2030, building on the momen- tum of the success of its ICV program launched in January 2018 to encourage private-sector partnerships, catalyze socio-economic develop- ment, improve knowledge-transfer and generate skilled jobs for UAE nationals.
ADNOC, January 13 2020
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Week 02 16•January•2020