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Gas Vital in Current, Future Energy Demand, says OPEC-GECF Dialogue

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A High-Level meeting of the OPEC-GECF Energy Dialogue has underscored the importance of crude oil and natural gas to the global economy and in meeting current and future energy demands.

This was made known in a joint communique issued on Wednesday at the end of the second high-level energy dialogue of the Organisation of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) (OPEC-GECF) via videoconference.

The meeting was co-chaired by Yury Sentyurin, GECF Secretary-General, and Mohammad Barkindo, OPEC’s Secretary-General.

The communique emphasised that both commodities would account for around half of the total global energy mix in the decades ahead.

According to the communique, OPEC Secretary-General stressed the need for the organisations of two vital energy sources to cooperate and exchange views on pressing issues in the interest of global energy stability and sustainability.

“The bond that binds our organisations together run far deeper than the geology that has linked oil and gas, since the beginning of time,” Barkindo said.

He said it was of utmost importance that organisations like OPEC and the GECF continued to work hand-in-hand to ensure that they remained in a strong position to provide and secure stable and sustainable supplies of energy.

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Barkindo added that oil and gas had an important role to play in the energy transition and in supporting the need to reduce emissions, bolster efficiency and embrace innovation.

He noted that in implementing the Memorandum of Understanding signed on Oct. 30, 2019, the two organisations had been improving the accuracy of dataflows and analysis, strengthening the exchange of information and expertise, which dated back to their mutual cooperation on Joint Organisations’ Data Initiative.

The meeting also examined the latest figures and estimates from OPEC and GECF’s perspectives, as well as reviewed the outcomes of key international debates on the future of energy and environment.

Such debates included, the G20 Environment, Climate and Energy Ministerial Meeting, UN High-Level Dialogue on Energy, Middle East Green Initiative Summit, as well as topics related to the upcoming UNFCCC COP26 meeting.

It acknowledged the possibility of stronger cooperation with some non-OPEC countries participating in the Declaration and Charter of Cooperation that were either GECF members or observers.

The next High-Level meeting of the OPEC-GECF Energy Dialogue has been scheduled to hold in 2022, in Vienna, Austria. (NAN)

Oil & Gas

Regulatory Agency Intercepts 135,000 Litres of Diesel in Bauchi

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The Bauchi office of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has intercepted 135,000 litres of diesel being diverted to an unlicensed fuel station.

Abdullahi Iliyasu, the Operations Controller of the agency in Bauchi State said on Tuesday that the culprits would be sanctioned.

He said the interception of the diesel was made possible through surveillance on the movement of petroleum products across the state.

He explained that the diesel was intercepted in three unregistered trucks, each conveying 45,000 litres.

“Those involved use fuel stations to discharge the diesel and later take them back into waiting trucks for distribution to illegal stations,’’ Iliyasu said.

He said the agency would take a sample of the diesel for laboratory analysis to determine its quality for proper documentation.

The agency sealed 35 fuel stations in Bauchi recently for flouting operational codes. (NAN)

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Gov. Okowa Tasks FG on Rising Cost of Cooking Gas

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Gov. Ifeanyi Okowa of Delta has called on the Federal Government and relevant policy makers to initiate steps towards reducing the rising cost of Liquefied Petroleum Gas (LPG) in the country.The governor made the call at a two-day LPG sensitisation and awareness campaign organised by the National LPG Expansion Implementation Plan, Office of the Vice President in conjunction with the State Government on Monday in Asaba.

He said that the theme of the campaign “Stimulating Delta State Socioeconomic Growth Through LPG Adoption And Expansion” was apt as the world moved towards greener sources of energy.
This, according to him, is because of the adverse effects of fossil fuel on the environment.Okowa, represented by his Chief Economic Adviser, Dr Kingsley Emu, said stakeholders must work to reduce the rising cost of LPG if the objective of the National LPG Expansion plan was to be realised.He thanked the Office of the Vice President for choosing Delta as one of the pilot states for the public enlightenment campaign.“Just recently, world leaders gathered in Glasgow, Ireland, in a Summit (COP-26) to discuss the adverse effects of climate change occasioned by the use of fossil fuels and the need to move towards cleaner energy.“This makes the adoption of LPG as a transition fuel to greener sources exigent, and Delta State is keen to play a vital role in this process and will give this awareness programme maximum support,” he said.Okowa said that Delta was home to 40 per cent of the nation’s natural gas endowments, hence a large number of oil and gas companies operate in the state.He said that there were prospects for the establishment of gas processing plants and gas-related industries in the state.This, the governor said, had implications for employment generation, inclusive economic growth and sustainable development.“However, as we adopt LPG as the fuel to drive the socio-economic activities of the economy, we must acknowledge a big challenge currently confronting the populace, the issue of high price of LPG in the market.“At the rate the price is skyrocketing, LPG is gradually getting out of the reach of the middle class and common man.“The price increase has been linked to several factors including the VAT re-introduction, devaluation of the naira and large importation of LPG vis-a-vis low production locally.“It is imperative that policy makers find a way to mitigate this upward trend in the price of LPG to give succour to our people, and if the goal of the LPG expansion plan is to be realised,” he said.Okowa was unhappy with the continuous flaring of gas by most oil and gas companies and urged them to expand their production facility to include the capacity to convert gas to LPG for use.He said that this was because of the untapped potential in the LPG market.The governor called on investors to come into the oil and gas sector and improve the availability of LPG in the market.He that his administration had carried out significant reforms to create investor-friendly climate in the state, including tax harmonisation, easy access to land and dispute resolution mechanisms to handle conflicts when they arise.“As we embrace the use of LPG in every sector of our economy as the source of energy, safety concerns become paramount.“We cannot forget in a hurry the gas explosion incident at Agbor in January this year, which, sadly, claimed many lives.“As a government, we have put mechanisms in place to avert similar occurrences and that includes the setting up of a committee to advise the government on guidelines for the establishment of gas plants in the state,” the governor said.The Senior Special Assistant to the President on LPG, Mr Dayo Adesina, said Delta State was strategic to the National LPG Expansion plan in view of its contributions to oil and gas development in the country.He said the Federal Government would procure 10 million gas cylinders and give to marketers for onward distribution to end users which would be exchanged from various homes.Adesina said there was no reason why anyone should use firewood, kerosene and charcoal for cooking especially when the country was blessed with abundance of gas.He commended Gov. Ifeanyi Okowa for setting up four training centres for manufacturing of low emission stove in the state.Earlier in a welcome address, the State Commissioner for Oil and Gas, Prince Emmanuel Amgbaduba, said the objective of the sensitisation was to display the economic and sustainability plan for adopting LPG for domestic use, power generation, agriculture and transportation amongst others.He said that the adoption of LPG for clean cooking would mitigate against deforestation, reduce depletion of the ozone layer and boost revenue generation in the state.The commissioner commended Okowa for approving an Annual Sensitisation Campaign on Safety for LPG Retailers in the State, with the maiden edition held in 2020.“By this new vista, oil companies are encouraged to diversify by transforming waste to wealth in place of flaring gas.“As the State gets set to embrace the new frontiers that this programme intends to unveil, government is not unmindful of the associated safety hazards especially when not handled appropriately.“With the establishment of Department of Monitoring and Compliance in the ministry, all hands must be on deck to institute best global practices at keeping every resident of the State safe as we reiterate our resolve to adopt LPG as a transition fuel in the journey towards greener energy,” Amgbaduba said.On his part, Chairman, Isoko South Local Government Council, Mr Victor Asasa, called for the establishment of gas turbine power plant in Irri to be powered from the gas being flared in the area.The event featured paper presentations from stakeholders in the oil and gas sector as well as exhibition of locally produced low emission stoves. (NAN).

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Energy Week: OPEC Lauds African Bonds in Energy Industry

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The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Mr Mohammad Barkindo, has commended the strong bonds played by Africa in the energy industry.

Barkindo said this in a keynote address delivered at the opening of the African Energy Week in Cape Town, South Africa on Tuesday.

He said that the strong bonds reflect critical roles which the contitnent would play in the energy industry in the future.

“We foresee a bright future for Africa’s oil industry with significant opportunities for growth. The continent is home to five of the top 30 oil-producing countries in the world and several top gas-producing nations.

“The world will continue to rely on Africa’s precious resources in the long-term in order to meet the rapidly rising global demand for oil and gas.

“Africa has a young and vibrant population. The Middle East and Africa region are currently experiencing a swift rate of population growth.

“By 2045, it is forecast to be the leading region by overall population, adding 762 million people in the period 2020-2045,” Barkindo said.

He explained that in 2019, before the emergency of the COVID-19 pandemic, Africa produced approximately 8.5 mb/d of oil, representing nine per cent of world output.

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Barkindo added that the continent’s proven oil reserves amounted to around 126 billion barrels at the end of 2019.

He, however, noted that Nigeria held the majority with an estimated 36.9 billion barrels or 29 per cent of the continent’s total reserves.

Barkindo commended the African Energy Chamber for organising the event which brought together stakeholders in the energy industry across the continent to discuss pressing issues.

He expressed appreciation to Gwede Mantashe, South Africa’s Minister of Mineral Resources and Energy; Dr Diamantino Azevedo, Angola’s Minister of Mineral Resources and Petroleum and President of OPEC Conference 2021.

He further thanked Chief Timipre Sylva, Minister of State for Petroleum Resources of Nigeria; Bruno Itoua, Minister of Hydrocarbons of Congo and all who worked tirelessly to ensure the success of the African Energy Week.

Barkindo, while stating that African countries have historically assumed strong, proactive leadership roles in OPEC, stated that Angola currently holds the Presidency of the OPEC Conference and will be succeeded by Congo next year.

“In September of this year, we celebrated a monumental milestone, the golden anniversary of Nigeria joining OPEC in 1971. Recent years have seen an expansion of the African presence in our organisation.

“Congo became a Member Country in 2018, Equatorial Guinea joined in 2017 and Gabon rejoined in 2016. This consolidates the incredibly positive, constructive and fruitful roles played by Libya since it joined our organisation in 1962.

See also  Nigeria: A Nation that Flares and Imports Gas

“What is remarkable are the number of key events that took place in African cities. From the ninth meeting of the OPEC vonference in Tripoli in 1965, critical meetings and conferences have been held,’’ he said. (NAN)

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