Five Minimum Conditionalities for Development of Greenfield Refineries in Nigeria

Oct 12, 2015

Currently, Nigeria’s value proposition for investors in refining is import parity pricing, 60% crude oil availability, ample regional demand, a deficit local product market especially for petrol and diesel. However, foreign investors are unlikely to invest in refineries in Nigeria, if the government charges international spot prices for crude oil for domestic processing and consumption.…

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Africa’s Price Benchmark Challenge

Aug 12, 2015

When drivers are queuing for hours to refill their cars amid a crippling fuel shortage in Africa’s largest oil producing nation, it is clear that something has gone wrong. May’s fuel crisis in Nigeria, whose repercussions are still being felt, had much to do with unpaid subsidies and a system riddled with inefficiencies and graft,…

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Providing Incentives For The Construction Of Greenfield Refineries In Nigeria

Jul 10, 2015

Nigeria has been particularly dependent upon imports for light products (petrol, diesel and dual- purpose kerosene / aviation kerosene), and long on dark products (fuel oils, etc) for nearly two decades. An estimated $12-15 billion per annum is expended on importing light petroleum products at present. Meanwhile, it would cost about $2.5 billion to construct…

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Deregulating The Refining Business In Nigeria

Jun 27, 2015

The issue of deregulation of petrol (PMS) price seems inevitable, as well as the deregulation of the refining business in Nigeria. However, we need to be clear on what the challenges are and how we go about deregulating the entire downstream petroleum sector. Recently, the NNPC spokesman Mr Ohi Alegbe announced ‘with glee’ that the…

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Investors’ Questions On Mini-Refining Opportunities In Nigeria

Jun 21, 2015

The much awaited policy move on petroleum refining in Africa’s biggest economy has come. Decades of dependence on imported refined products has taken a huge toll on Nigeria’s economy. It technically moved Nigerian jobs abroad, put enormous pressure on the Naira due to foreign exchange and promoted corruption through subsidies, while encouraging product smuggling. In…

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The Issue of Deregulation of the Nigerian Downstream Petroleum Sector

Jun 16, 2015

This subject matter has been on the policy agenda since the General Olusegun Obasanjo’s administration, and is still a major decision point for the new General Mohammadu Buhari’s administration. I have noticed that some commentators on this issue mistake deregulation of fuels prices with the deregulation of the entire downstream petroleum sector (which comprises of…

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The Fuel Subsidy Question

Jun 10, 2015

The new Nigerian government headed by General Muhammadu Buhari will have take a close look at the policy issue of deregulation of the petroleum downstream sub-sector, and the attendant removal of fuel subsidies. On the 1st of January, 2012 the Dr Goodluck Jonathan’s administration announced the removal of subsidies on petrol and set up a…

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Falling Oil Prices: Why Nigeria Needs to Seriously Look at Gas

Mar 29, 2015

It would not be an exaggeration to say that Nigeria’s economy is in danger of collapsing. The  fall  in  oil  prices  have  landed  our  coffers  a  heavy  and  devastating  blow. The  Minister  of  Finance/Coordinating  Minister  of  the  Economy  in  an  interview  with  The  Wall  Street  Journal  recently revealed  that  Value  Added  Tax (VAT), which  presently …

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Marginal Field Operators and the March 31st Deadline

Mar 29, 2015

In  less  than  a  week  from  now, a  new  future  may  be  unfurled  for  indigenous operators in the Nigerian upstream sector. That  future  will  be  characterized  by  serious-minded  marginal  field  operators  who will  stop  at  nothing  to  make sure their  impact  is felt  in  the  oil  and  gas  industry  and  up  the  somewhat  insignificant  2.1 …

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Offshore Decommissioning Infographic: What Happens to Platforms When the Oil Stops Flowing?

Mar 4, 2015

Offshore Decommissioning can be a costly, complicated, and dangerous endeavour. That’s where Mactech Offshore comes in. Understanding the process can be confusing, as there are many factors that come into play when deciding when and how offshore platforms are decommissioned. Mactech Offshore has created the following infographic and sent it in to Energy Mix Report…

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