Page 6 - AfrOil Week 46 2021
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AfrOil PIPELINES & TRANSPORT AfrOil
Morocco to start downstream
division for domestic gas facilities
MOROCCO MOROCCO’S National Board of Hydrocar- produce about 110mn cubic metres of gas this
bons and Mines (ONHYM) is reportedly pre- year, enough to cover about 11% of domestic
paring to set up a downstream division that demand, which is expected to reach 1 bcm.
will manage domestic natural gas infrastruc- Morocco’s Minister of Energy Transition and
ture, while completing works on the proposed Sustainable Development Leila Benali said last
Morocco-Nigeria Gas Pipeline (MNGP), which week that gas demand was likely to rise to 3 bcm
will run from Nigeria through 13 countries, to per year by 2040.
enable exports to Europe.
A source from ONHYM told S&P Global
Platts last week that the new entity would be
established in the near future. “It’s on the way,”
said the source, who spoke on condition of ano-
nymity.” “It’s a new entity to take care of down-
stream business.”
The source did not say when the new down-
stream division might make its debut. He also
noted, though, that the North African coun-
try was trying to develop domestic networks
capable of distributing gas to locations where
the automobile and aeronautics industries are
expanding.
Morocco has estimated its domestic reserves
at some 300 trillion cubic feet (8.496bn cubic
metres) of conventional and unconventional
gas in place (GIP). The country is on track to ONHYM hopes to establish the new downstream agency soon (File Photo)
INVESTMENT
Ardova buys Enyo, becomes Nigeria’s
largest listed local downstream firm
NIGERIA THE Nigerian energy firm and fuel distributor widest retail reach in the Nigerian downstream
Ardova has completed the acquisition of rival sector,” Ardova chief executive Olumide Adeo-
Enyo Retail and Supply Ltd, its board of direc- sun said in a statement. “It also provides the plat-
tors said in a stock exchange filing dated Novem- form to increase our non-fuel revenue through
ber 17. the sales of products such as AP and Shell
Ardova, previously owned by billion- branded lubricants, LPG and renewable energy
aire Femi Otedola under the name Forte Oil, solutions that will be channelled through the
announced in January that it had brokered a group-owned retail outlets.”
deal with Enyo to acquire a 100% equity stake Ardova has significant storage facilities in
in the latter. Apapa, Lagos and Onne, Rivers State, and pro-
With the acquisition, Ardova will add 90 cures and distributes petrol, diesel, kerosene and
filling stations and about 100,000 customers to liquefied petroleum gas (LPG).
the 450 retail outlets it currently owns, making
Ardova Nigeria’s largest indigenous publicly
listed downstream company.
“The addition of Enyo to the Ardova group
fits into our expansion strategy to have the
P6 www. NEWSBASE .com Week 46 17•November•2021
