NNPC targets European gas market

The Nigerian National Petroleum Corporation has said that it is looking for more markets for the nation’s gas on the European continent.

The move, it said, was meant to generate maximum economic benefits from Nigeria’s enormous gas resources.

In a statement from the corporation on Sunday, the Group Managing Director, NNPC, Mr. Andrew Yakubu, disclosed this while playing host to a Belgian business delegation under the auspices of the Flanders Investment and Trade Mission in his office.

“Europe is a good market for gas. Incidentally, Belgium has important terminals such as the Port of Antwerp through which Nigeria hopes to get its gas to the rest of Europe. We’ll start marketing our abundant gas resources to Europe,” Yakubu said.

Diezani, NNPC’s antics won’t stop jet probe –Tambuwal

The Office of the Speaker of the House of Representatives, Mr. Aminu Tambuwal, has  said that the House will not be distracted in its resolve to probe  the alleged N10bn chartered jets scandal levelled against the Minister of Petroleum, Mrs. Diezani Alison-Madueke.

It also noted that the investigation into the chartered jets was not a “personal quarrel” between Diezani and the Nigerian National Petroleum Corporation Group Managing Director, Mr. Andew Yakubu, as the alleged reaction of the corporation portrayed.

PRESIDENT JONATHAN APPROVES APPOINTMENT OF NEW NNPC COMPANY SECRETARY

PRESIDENT JONATHAN APPROVES APPOINTMENT OF NEW NNPC COMPANY SECRETARY
President Goodluck Ebele Jonathan has approved the appointment of Mr. Ikechukwu Oguine as the Coordinator, Legal Services and Company Secretary of the Nigerian National Petroleum Corporation (NNPC).

Mr. Oguine who has over 29 years of legal experience, hails from Anambra State.

He was previously the General Counsel of Chevron Nigeria Limited  and has been a partner in Advisory Legal Consultants, a Law Firm specializing in oil, gas, power and mining.

Mr. Oguine replaces Mr. Anthony Chukwuma Madichie, also from Anambra State, who has served as the NNPC Legal Adviser and Secretary to the Corporation since February 2011.

Reuben Abati
Special Adviser to the President
(Media & Publicity)
April 7, 2014

Diezani jet scandal: Reps uncover second aircraft

Fresh revelations indicated on Tuesday that Petroleum Minister, Mrs. Diezani Alison-Madueke, maintained a second jet.

The jet, a  Global Express XRS plane, is  allegedly chartered specifically for her private and official trips overseas.

A return trip on  the  XRS plane is said to cost taxpayers €600,000.

The   jet  is different from the Challenger 850, which the House of Representatives said gulped N10bn  in the last two years to fly the minister.

Investigation by The PUNCH showed that the House Committee on Public Accounts stumbled on the second jet in the course of the ongoing probe into the N10bn expenditure on Challenger 850.

Crisis Looms As FG Plans To End Fuel Subsidy

Nigerians may witness another massive protest following plans by the government to remove subsidies on petrol and kerosene.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, gave a hint of government thinking on the removal of the subsidies Tuesday at the ongoing Nigerian Oil and Gas Conference in Abuja.
Arguing for the removal of the subsidies, Alison-Madueke said subsidies being paid to the marketers by the government on imported petrol and kerosene were no longer sustainable.
The oil minister explained that the reform being implemented in the power sector should be taken to the downstream oil sector, stressing that the negative impact of continued regulation of the sector outweighed the positive impact.

Shortage of Gas Threatens Transitional Electricity Market

•NERC anticipates year-end increment in power generation, supply to 7,000MW

The persistent inadequate gas supply to the various power generating plants nationwide is threatening the plan by the federal government to declare Transitional Electricity Market (TEM) on March 1, THISDAY has learnt.

When declared, TEM will make it mandatory for the Nigerian Gas Company (NGC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), to be sanctioned in the event of failure to deliver on its gas supply commitments to the power producers, in line with the Gas Supply Agreement (GSA) signed in 2013.