Energy and You - Episode 60

Nigeria's Energy Sector

• NNPC Limited is committed to delivering sustainable energy solutions, not just for Nigeria but globally.
• The company has a strong commitment to ensuring a healthy balance of energy sources in the country.

Oil Production in Nigeria

• NNPC Exploration and Production Limited and Natural Oil Field Services Limited have commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State.
• Production started on May 6, 2024, with 6,000 barrels of oil, expected to be ramped up to 40,000 barrels per day by May 27, 2024.

Global Energy News

• US Federal Reserve officials have dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world's biggest economy.
• Bran CR Futures fell to $82.72 a barrel.
• Italian Energy Group Eni may spin off stakes in high-potential oil and gas projects in Indonesia and Ivory Coast to help finance their development.
• Chinese companies have won five more bids to explore Iraqi oil and gas fields.

Offshore Technology Conference (OTC) 2024

• NNPC Limited was recognized and honored with awards for its outstanding role in the Nigerian energy sector.
• The company's Executive Vice President, Upstream, Mrs. Aisha Maya, emphasized the need for collaboration among stakeholders to achieve the nation's energy goals.

Gas Development in Nigeria

• NNPC Limited is committed to investing in the development of huge gas infrastructure across the country.
• The company is working to finalize the Ob3 gas project by the end of the second quarter of 2024.
• The project aims to unlock gas from the source in the south to the north, enabling the transition energy for Nigeria.

NNPC Limited's Commitment to Energy Sufficiency

• The company is focused on driving growth and development in Nigeria's oil and gas sector, which is crucial for meeting domestic energy needs and driving economic growth.
• NNPC Limited is committed to operating in a manner that is safe, environmentally responsible, and beneficial to local communities.

Awards and Recognition

• NNPC Limited received three awards at the OTC 2024, recognizing its outstanding role in the Nigerian energy sector.
• The company's Executive Vice President, Upstream, Mrs. Aisha Maya, received the awards on behalf of the company.

War on Crude Oil Theft

• NNPC Limited is working with industry-wide security collaboration to combat crude oil theft and pipeline vandalism.
• Between May 4-10, 2024, a total of 215 incidents were recorded across several locations in the Delta Region.
• The company has made significant progress in dismantling illegal refineries and detecting illegal connections.

Corporate Social Responsibility

• NNPC Limited and its joint venture partner, Fest EMP Limited, donated ₦53.4 million to non-governmental organizations in Nigeria.
• The donation is part of the company's commitment to sustainable corporate social responsibility initiatives, focusing on areas such as health care, education, and economic growth.

Renewable Energy in Nigeria

• Nigerians are aware of the importance of adopting renewable energy, but they face challenges such as cost, lack of awareness, and limited access to affordable renewable energy sources.
• The company is engaging Nigerians on the importance of adopting renewable energy and promoting awareness about its benefits.

NNPC Limited's Commitment to Energy

• Committed to delivering sustainable energy solutions globally, ensuring a healthy balance of energy sources in Nigeria

Oil Production in Nigeria

• NNPC Exploration and Production Limited and Natural Oil Field Services Limited commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State on May 6, 2024
• Initial production of 6,000 barrels of oil, expected to increase to 40,000 barrels per day by May 27, 2024

Global Energy News

• US Federal Reserve officials have dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the US
• Brent CR Futures fell to $82.72 a barrel
• Eni may spin off stakes in high-potential oil and gas projects in Indonesia and Ivory Coast to finance development
• Chinese companies have won five more bids to explore Iraqi oil and gas fields

Offshore Technology Conference (OTC) 2024

• NNPC Limited recognized and honored with awards for its outstanding role in the Nigerian energy sector
• Executive Vice President, Upstream, Mrs. Aisha Maya, emphasized the need for collaboration among stakeholders to achieve Nigeria's energy goals

Gas Development in Nigeria

• NNPC Limited is investing in the development of huge gas infrastructure across the country
• Aiming to finalize the Ob3 gas project by the end of Q2 2024
• The project aims to unlock gas from the south to the north, enabling transition energy for Nigeria

Corporate Social Responsibility

• NNPC Limited and Fest EMP Limited donated ₦53.4 million to non-governmental organizations in Nigeria
• The donation is part of the company's commitment to sustainable corporate social responsibility initiatives

Renewable Energy in Nigeria

• Nigerians face challenges in adopting renewable energy due to cost, lack of awareness, and limited access to affordable sources
• NNPC Limited is engaging Nigerians on the importance of adopting renewable energy and promoting awareness about its benefits

NNPC Limited's Commitment to Energy

• Committed to delivering sustainable energy solutions globally, ensuring a healthy balance of energy sources in Nigeria

Oil Production in Nigeria

• NNPC Exploration and Production Limited and Natural Oil Field Services Limited commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State on May 6, 2024
• Initial production of 6,000 barrels of oil, expected to increase to 40,000 barrels per day by May 27, 2024

Global Energy News

• US Federal Reserve officials have dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the US
• Brent CR Futures fell to $82.72 a barrel
• Eni may spin off stakes in high-potential oil and gas projects in Indonesia and Ivory Coast to finance development
• Chinese companies have won five more bids to explore Iraqi oil and gas fields

Offshore Technology Conference (OTC) 2024

• NNPC Limited recognized and honored with awards for its outstanding role in the Nigerian energy sector
• Executive Vice President, Upstream, Mrs. Aisha Maya, emphasized the need for collaboration among stakeholders to achieve Nigeria's energy goals

Gas Development in Nigeria

• NNPC Limited is investing in the development of huge gas infrastructure across the country
• Aiming to finalize the Ob3 gas project by the end of Q2 2024
• The project aims to unlock gas from the south to the north, enabling transition energy for Nigeria

Corporate Social Responsibility

• NNPC Limited and Fest EMP Limited donated ₦53.4 million to non-governmental organizations in Nigeria
• The donation is part of the company's commitment to sustainable corporate social responsibility initiatives

Renewable Energy in Nigeria

• Nigerians face challenges in adopting renewable energy due to cost, lack of awareness, and limited access to affordable sources
• NNPC Limited is engaging Nigerians on the importance of adopting renewable energy and promoting awareness about its benefits