Valuechain Online
Total Page：16
File Type：pdf, Size：1020Kb
Property Special his is to inform players in the Real Estate sector that Valuechain Magazine will be running SPECIAL RE- TPORTS on the major players, starting from Septem- ber 2021 to February 2022. We urge the stakeholders to take advantage of this unique opportunity to reach out to your dream prospects in the Nigerian oil and gas industry on why they should patronise your company. Take advan- tage of our multiple channels of advertisement to reach out to your target audience. For more information and participation, contact Isioma on: +234 803 303 1465 Or our Customer Care line on: +234 907 149 2222 CONTENTS 24 COVER STORY 21 Stakeholders Resolute on Star of the Industry Engr. Yusuf Usman AKK Completion ‘Against All Chief Operating Offi cer (COO), Odds’ Gas and Power, NNPC INDUSTRY INTERVIEW COLUMN: HEALTH RENDEZVOUS 5 Nigeria’s Rig Count 33 Government should Dips by One, as OPEC’s Encourage LPG Usage 46 Coverage, Compliance Declines by Six — Auwalu Ilu of COVID-19 Vaccination Drive 6 How Energy Transition GUEST COLUMN Will Revolutionise Oil, 36 Decarbonisation: COLUMN: ROLLING Gas Sector Nigeria’s Pathway to the WHEELS 8 PIB: Oil, Gas Sector Great Transition 48 Surviving Nigerian without DPR, PEF, Roads with Reliable PPPRA COLUMN: WOMEN’S Automobiles 11 World LNG Trade CORNER Unaltered in 2020 39 POP Colour Checks AVIATION 50 Aviation Sector to Fully 13 4th Valuechain Lecture & ENTERTAINMENT Rebound in 2023 – Awards: Stakeholders List 42 Nigerian Celebrities Report Benefi ts of Maritime, Oil & Who Made Gas Sectors Synergy Controversial News SPORTS 29 PIB: Will Opposition over in H1 2021 ― As 52 Tokyo 2020 Games 3% Host Community Entertainment Industry Proves Hydrogen Fund Sway Buhari’s Mourns Sound Sultan Economy as Most Assent? Sustainable 32 NCDMB Wins PROPERTY Valuechain’s ‘Best 44 How FCDA’s Land Public Agency of the Swap Scheme Can Be Year’ Award Productive 40 JULY SHORT TAKES 3 ritical stakeholders of the committee of both chambers ongoing Ajaokuta-Kadu- was eventually passed, after Cna-Kano (AKK) gas pipe- it was submitted for consider- line project have insisted on ation by the lawmakers. ‘PIB: the successful completion, ir- Will Opposition over 3% Host respective of all odds. The Fed- Community Fund Sway Bu- eral government on June 30, hari’s Assent?’, is another in- 2020 took a fi rm stand, when teresting story of this edition. President Buhari launched On Monday, July 12, 2021, the construction of the pipe- Nigeria’s capital city, Abuja, line. “Stakeholders Resolute was agog when critical stake- maritime sectors, as well as on Completion of Gas Pipeline holders of the oil/gas and global energy experts graced ‘Against all Odds’” is our cover VALUECHAIN Magazine’s 4th story of this edition. Annual Lecture and Awards, The recently passed Petro- where they affi rmed that the leum Industry Bill (PIB) 2021, benefi ts of strengthening the which is at the verge of being synergy among players in assented to by President Mu- both sectors were vital and hammadu Buhari, is yet to re- Publisher/Editor-in-Chief Musa Bashir Usman enormous, given the various ceive a clean bill of health from emerging challenges facing members of host communi- Managing Editor Teddy Nwanunobi the two sectors. The event ties of the Niger Delta. The themed ‘Enhancing Effective Senate and the House of Rep- Associate Editor Eddy Ochigbo Synergy between Oil/Gas and resentatives had, on Thursday, Maritime Sectors for Greater July 1, passed the PIB, amidst Deputy Editor Fred Ojiegbe Value Creation’, received raving reservations raised by some reviews and commendations Contributors members, particularly about nationally and internationally. the clauses proposing three Gideon Osaka Asmau Abubakar Memories and lessons from per cent and fi ve per cent, re- Aisha Saleh the ground-breaking event is spectively of oil companies’ Graphic Consultant well captured in this edition. operating expenditure to be Theresa Ogbonna Also in this well-packaged contributed to a fund for host edition are our Regulars, Inter- communities. Business Dev. Executives Adeniyi Onifade (South) views, Photo-splash, Columns, While the Senate settled for Abdulkarim Sani (North) Property and Sports for read- three per cent, the House of Circulation Manager ing pleasure. Reps endorsed fi ve per cent, Danlami Nasir Isah a development which warrant- Online Editor ed both chambers to set up a Saidu Abubakar M.B. Usman harmonisation committee. In Photo Editor NB. Feel free to send in your views the fi nal analysis, the harmon- Bashir Bello Dollars and have your say @ ised version of the Bill, which Legal Adviser [email protected] was produced by a conference Lamir Kasim Idris (Esq.) Head Offi ce: Abuja Liaison Offi ce: 1-2 Abu-Rayyan Street, New NDC Layout, Kaduna. SF 3, Rhema Mall, Ahmadu Bello Email: [email protected] Way, Opp. NAF Conference & Contact: 08032324370, 09071492222 Suites, Abuja. [email protected] @thevaluechainng.com thevaluechainng.com 4 Industry 07:21 Nigeria’s Rig Count Dips by One, as OPEC’s Declines by Six –By Fred Ojiegbe here are indications that Nige- Canada had an impressive leap tional oil, while estimates for OPEC ria’s oil production suffered a in its rig count with a record of 45, crude production are based on sec- Tdecline as its rig count dipped as it posted 104 in June, as against ondary sources. by one, having posted five in June, 59 posted in May. Mexico had plus Non-OPEC liquids production in as against six posted in May. five, as it recorded 45 in June, as 2022 is expected to grow by 2.1 This was coming at a time the against 40 recorded the previous mbpd to average 65.85 mbpd, in- Organisation of Petroleum Export- month. The Organisation for Eco- cluding a recovery of 0.11 mbpd in ing Countries (OPEC)’s rig count nomic Cooperation and Develop- processing gains. The supply fore- declined by six, as it posted 354 in ment (OECD) Americas also posted cast, including expected growth of June as against 360 posted in May, an impressive leap in its rig count OPEC NGLs, should be at 2.2 mbpd. latest data from OPEC showed. with a record of 60, as it had 614 Liquids supply in the OECD coun- World rig count, however, wit- in June, as against 554 posted the tries is expected to increase next nessed a surge by 63, as it recorded previous month. year by 1.1 mbpd, and growth of 1,433 in June, as against 1,370 re- Norway also made the gainers’ 0.8 mbpd in the non-OECD region is corded in May. group with its plus two, having anticipated. Among the 13 OPEC members, posted 20 in June, as against 18 The main drivers for liquids sup- three countries recorded plus in posted the previous month. ply growth are expected to be the their rig count. OECD Europe also made the US (0.74 mbpd), Russia, Brazil, Nor- They were led by Iraq which had group of gainers with its plus four, way, Canada, Guyana and Kazakh- plus three, having recorded 38 in having recorded 62 in June, as stan, whereby the majority of the June, as against 35 recorded the against 58 recorded in May. increase in the US and some other previous month. countries represents a production It was followed by the United World oil supply recovery from the 2020 oil market Arab Emirates (UAE), which had a OPEC data indicated that glob- downturn due to curtailments, rath- rig count of 45 in June, as against al liquids production in June in- er than growth from new projects. 43 recorded the previous month. creased by 1.10 million barrels per Nevertheless, uncertainty re- Gabon completed the gainers’ day (mbpd) to average 94.49 mbpd, garding the financial and opera- group, with its plus one, as it re- compared with the previous month. tional aspects of US production corded two in June, as against one Non-OPEC liquids production, remains high. recorded the previous month. including OPEC natural gas liquids OPEC NGLs and non-conven- Four OPEC members were in (NGLs) increased in June by 0.52 tional liquids production in 2021 is the losers’ loop. Saudi Arabia, led mbpd compared with the previous estimated to grow by 0.12 mbpd to the group, with its minus seven, as month to average 68.46 mbpd, high- average 5.17 mbpd. it had a rig count of 59 in June, as er by 2.76 mbpd year-on-year (y-o-y). For 2022, it is likely to grow by against 66 recorded the previous Preliminary increases in produc- 0.13 mbpd to average 5.29 mbpd. month. tion over June were mainly driven OPEC-13 crude oil production This was followed by Algeria by the OECD, which saw 0.46 mbpd in June increased by 0.59 mbpd which had minus three, having re- month-on-month (m-o-m) more m-o-m to average 26.03 mbpd, ac- corded 25 in June, as against 28 production compared with an in- cording to secondary sources. recorded the previous month. crease of only 0.08 mbpd in non- Preliminary non-OPEC liquids Kuwait had minus one, as it had OECD countries, including partici- production in June, including OPEC 22 in June, as against 23 posted in pants in the DoC, as production had NGLs, is estimated to have in- May. Six OPEC members had their already been adjusted in May. creased by 0.52 mbpd m-o-m to av- rig count unchanged within the pe- The share of OPEC crude oil in erage 68.46 mbpd, up by 2.76 mbpd riod under review.