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Mystery Fire Guts NNPC Ibadan Depot




From Dele Ogunyemi, Ibadan

Mystery fire  gutted the Apata, Ibadan depot of the Nigeria National Petroleum Corporation (NNPC) on Wednesday.

The incident occurred at the loading section of the depot, according to eye witness accounts.

Sources hinted that one of the tankers on loading point caught fire and spread to other parts of the lapsing terminal.

No fewer than four fuel tankers were razed as the disaster loomed.

It took the internal fire service, workers and the effort of both the Fire service and the state arm of the same agency to put out the fire.

As at the time of filing this report, there has been no official statement as men of the State Fire Service were battling hard to put off the fire.

The development caused traffic gridlock on the ever busy Apata-Abeokuta Road.

It will be recalled that the
immediate past GMD of NNPC, Maikanti Baru, visited the Ibadan Depot in 2017 to recommission it for loading of petroleum products two years after the Depot suspended operations due to vandalization of pipelines from Mosinmi to Ibadan as well as breakdown of facilities at the Depot.

The reopening of the depot was part of the turn-around maintenance of the government to ease fuel loading and distribution.

See also  NNPC, Refineries Record N123.64bn Deficit in Nine Months – Report

The then NNPC GMD said that President Muhammadu Buhari was concerned about the ease of fuel distribution and supply to every part of the company, which he said informed his commitment to upgrading of storage facilities across the country.

Baru remarked then that the reopening of the depot would ease the stress of transporting fuel from Lagos to Ibadan.

Business News

Fuel Crisis: IPMAN Warns Members Against Sale of Fuel Above N165/litre




The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned members of the association not to dispense Premium Motor Spirit, popularly called petrol, above the approved N165/litre pump price.

IPMAN in conjunction with the Association of Distributors and Transporters of Petroleum Products gave the warning in Abuja following reports that many retail outlets had adjusted the price in their various pumps upwards above the government-regulated rate.

The factional National President, IPMAN, Chinedu Okoronkwo, admitted that members of the association had called for a hike in petrol price, but noted that the Nigerian National Petroleum Company Limited had released enough petrol.

He said, “Our members in Lagos were getting the fuel at N170 – N173/litre, that’s why they wanted price increased. It is only the NNPC that is importing the product.

The cost of doing business has changed, so it becomes difficult to sell at N165/litre.

“That is why we are thanking the NNPC for bringing the product to N143/litre. So, our members must sell the product at N165 which is the government-approved price.”
Okoronkwo further revealed that IPMAN and its partner had engaged the services of Benham Group to recover money owed them for the supply of petroleum products.

See also  NNPC Weekly Review: Stakeholders Hail PIA as Economic Game-Changer

“Our business requires technology, that is why we brought a seasoned financial expert and we’ve been able to recover a lot of funds in other countries and Nigeria,” he said.
The IPMAN official added, “The incessant mishaps and destruction of trucks on the road, banditry and kidnapping is the reason we are bringing the insurance company to help us. Leaving the risk for the owner of the truck to bear will affect our businesses.”

On his part, the National President, Association of Distributors and Transporters of Petroleum Products in Nigeria, Mohammed Danzaki, said the NNPC had done a lot to import the product, “but the main issue is the transportation.”

He added, “We have not been getting our payments. That is why we engaged a financial expert, Benham Group, to recoup our money for Nigerians to get regular supplies in the fuel stations.”
The Chairman, Benham Group, Maurice Ibe, said the collaboration was to ensure stabilisation of fuel supply at the filling stations.

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Oil & Gas

NNPC Begins Operation as Limited Liability Company, July 1




The  Nigerian National Petroleum Company Limited (NNPC Ltd.)  would begin operation on July 1 as a limited liability company.

The operation as a limited liability company is under the Companies and Allied Matters Act (CAMA) and would commence upon the signing of the assets transfer documents by the Ministers of Petroleum and Finance the same day.

The development is in line with the provisions of the Petroleum Industry Act (PIA).

Group Managing Director (GMD)/Chief Executive Officer (CEO) of NNPC Ltd, Malam Mele Kyari, disclosed this at an engagement session with business leaders across the company’s value chain in Abuja, adding that the company was working to comply with the provisions of the PIA.

He said NNPC was doing everything possible to ensure compliance with the provisions of the Petroleum Industry Act (PIA) with regards to guidelines and timelines for action.

Kyari said that the new company would become operational with the transfer of verified assets from the Corporation to the NNPC Ltd. by the Ministers of Petroleum and Finance.

He explained that with the level of assets available combined with the new fiscal regime, NNPC Ltd. was set to become the number one energy company in Africa, noting that global brands interested in doing business with the new NNPC Ltd needed to be sure of the company’s asset base.

See also  Petrol Scarcity: NNPC Begins Loading at Depots to Clear Queues

On the objective of the session, Kyari stated that it was organised to engage business leaders on issues of change in management strategies required to achieve the new business realities as a limited liability entity.

He added that the success or otherwise of the company depended heavily on how the change was managed.

In his presentation, the Chairman of the NNPC PIA Implementation Team and Group Executive Director, Downstream, Mr Yemi Adetunji, said that all was set for the presidential unveiling of the NNPC Ltd., scheduled for July 19.

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Oil & Gas

NOSDRA reports 2 Sabotage Incidents on Agip’s Pipeline in Southern Ijaw, Bayelsa




FROM TAYESE Mike, Yenagoa

The National Oil Spills Detection and Response Agency (NOSDRA) says investigations into two oil leak incidents at Agip’s oilfields in Bayelsa were caused by vandalism.

The two incidents occurred in Southern Ijaw and Ekeremor Local Government Areas (LGAs)

Mr Idris Musa, Director-General of NOSDRA said on Sunday that the agency concluded Joint Investigation Visits (JIVs) to the sites within the last one week.

He explained that a JIV to the 6 inch Azuzuama-Tebidaba flow line at Ikebiri in Southern Ijaw LGA operated by Nigerian Agip Oil Company (NAOC) was traced to third party interference.

The DG said that the incident suspected to be the handiwork of oil thieves occured on June 13, while the JIV was conducted on June 14.

He said that an estimated volume of eight barrels of crude was discharged into the environment.

“Unknown person (s) installed a flanged at 12 O’clock position on the pipeline.

“Area of impact was outside the company right of way and inside right of way, vegetation was impacted and repair was effected.

The second incident, according to Musa occurred on NAOC’s 6 inch Tuomo-Ogboinbiri pipeline at Ayamasa in Ekeremor LGA.

See also  Partial power Restoration Fails to Stop Community protests at Agip’s Brass Terminal

“At three different points, hacksaw cuts were observed at different positions on the pipeline, also wraps of different materials were used around the different cuts caused by unknown person(s).

“The second point was about 35 meters apart from the first point, while the third point was  across a major River,” Musa said.

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