Page 8 - AfrOil Week 45 2021

AfrOil PERFORMANCE AfrOil

Under current circumstances, consumers do In related news, the Independent Petroleum
not have any reason to fear supply shortages and Marketers Association of Nigeria (IPMAN) said
should not engage in panic buying, Muhammad on November 9 that it had set up a task force
declared. committee to investigate reports of gasoline
He further noted that the Nigerian Mid- hoarding and to help ensure that domestic fuel
stream and Downstream Petroleum Regulatory supplies remained adequate. Bashir Dan-Mal-
Authority (NMDPRA), a state agency created lam, chairman of IPMAN’s Kano zone unit,
recently in accordance with the Petroleum noted in a statement that the committee would
Industry Act (PIA), has been trying to make work to determine whether any filling station
this point to the public. “In view of these assur- owners were keeping gasoline supplies from
ances, therefore, the NNPC is advising motorists being sold. He also said that 210 tanker trucks
and other consumers of petrol to maintain their had been loaded with fuel on November 8 for
regular pattern of the purchase of petrol without distribution around the country. ™
getting into a panic situation that may send the
wrong signals around the country,” he said.
Additionally, he stressed that he was not
aware of any plans by the Nigerian government
to raise fuel prices. The country has enough gas-
oline to meet demand through the Christmas
and New Year’s Day holidays, he added.
NNPC issued its statement amidst reports
that filling stations in several parts of the coun-
try were running out of gasoline. Last week, the
Nigerian press began recording long queues at
several filling stations in Abuja, the capital city.
Then between November 3 and November 7,
cars began lining up at new locations – not just
in Abuja, but also in Kano State. Meanwhile,
motorists began complaining that gasoline was
only available on the black market for prices
of NGN250 ($0.61) per litre or higher, signifi-
cantly above the official recommended price of
NGN148 ($0.36) per litre. Fuel queues are common in Nigeria during the holiday season (File Photo)

POLICY
Lobbyists still calling for divestment from

Sasol, despite company’s new green plan

SOUTH AFRICA ENVIRONMENTAL groups say petrochem- far from being credible.”
icals giant Sasol’s climate transition plans are The divestment organisation, a credible
simply not good enough and are still calling for player in South Africa’s environmental space,
divestment in the company. analysed Sasol’s targets and called Sasol’s prom-
Sasol’s plans to transform its coal-depend- ises “industrial-sized greenwash.” It called for
ent operations play an important role in South investors to divest from the company, in light of
Africa’s ability to meet its emission targets, as its still huge carbon footprint.
put forward last week at the ongoing UN cli- Additionally, Fossil Free argued that Sasol,
mate talks in Glasgow. Last month, the company with its special responsibility to South Africa,
announced that it was tripling its 2030 emissions must commit to a full transformation of its
reduction target, moving from an initial plan for business to 100% zero emissions over the next
a 10% reduction from a 2017 baseline in 2030 to 20 years, starting with 7-10% annual emissions
its current aim of a 30% cut by then. cuts right now. Alternatively, it said, the com-
“Sasol is undoubtedly a pillar of the South pany must responsibly wind down its business.
Africa economy and we would like to be cel- Sasol is South Africa’s second-biggest emit-
ebrating this apparent transformation,” said ter of greenhouse gases. Its coal-to-liquid (CTL)
David Le Page, coordinator of environmental Secunda plant in the province of Mpumalanga
carbon divestment group Fossil Free South is the highest single-point source of greenhouse
Africa (Fossil Free). “But these new targets are gas emissions in the world

P8 www. NEWSBASE .com Week 45 10•November•2021