“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”
“Marginal fields would [henceforth] be prioritised in terms of their location to those who have modular refineries, so that they will be able to produce,” he said.
Under the tender, the winning bidder would invest around $200 million in the GTL plant and will also provide gas condensate supplies.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on November 1, said it was “determined to enforce the domestic crude oil supply obligations” for Nigerian refineries.
The minister said the insurance issue was the last real barrier to EACOP. “The rest was politics”, she said.
However, last week IMF mission chief Ari Aisen said there was a need for “macroeconomic tightening of monetary and fiscal policies”.
Under the decision, Sasol must achieve concentration-based limits for SO2 at the Secunda steam plant boilers. The company had applied to be allowed to operate on a load-based limit – but this was rejected.
The executive was holding a meeting with oil marketing companies in Lagos. The aim of the discussion was to “emphasise the importance of private investment in the importation of petrol to meet the nation's energy demands”.
VFuels reported that plant was making progress last week. The project is “ready for pipe insulation and final testing before nitrogen preservation”, the US company said.
The ministry had expected a final investment decision (FID) on the $4.5 billion Hoima facility by the end of June. The aim was for the facility to be ready for first oil from the Lake Albert fields in late 2025.
“It has not been as easy as it used to be. We need to reach out to other countries like Kenya,” he said.
“There are notorious navy commanders known to be kingpins in this business.”
One challenge of the project being so delayed is that the longer equipment is on site, the more it risks degrading.
Mantashe made it clear that he blamed foreign-funded NGOs for the slow process of development. “They block development in our country”.
Libya’s National Oil Corp. (NOC) has denied the allegations that the Sarir facility is providing fuel for Sudan’s RSF. The company is not helping out either side in Sudan, it said.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.
The first phase will consist of front-end engineering and design (FEED) works. The second phase, on construction and commissioning, will be agreed at a later stage, Zallaf said.
The statement said countries in need “will not prosper without domestic players who are willing to solve their unique challenges”.
“We do not support any arrangement that disadvantages our people. In the current set up, our Nzema community bears the risk of losing its land. However, it has no upside and no guarantee of future and ongoing royalties or profits for Nzema.”
Engen has 1,300 service stations in seven sub-Saharan states and islands of the Indian Ocean. Combining Engen with Vivo gives the group more than 3,900 service stations and more than 2 billion litres of storage capacity. It will have presence in 27 African countries.
The aim is to achieve 60% utilisation by the fourth quarter of 2024. KRPC has 110,000 barrels per day of capacity.
Eskom, on December 23, reported its gross debt had reached 396.8 billion rand ($23.4bn) for the year to March 2022.
“The driver kept shouting at people to leave the scene and even tried to physically move the gathering crowds out of the way,” ISS said.
"For years, Honeywell neglected to implement sufficient internal accounting controls to mitigate against known corruption risks in countries like Brazil and Algeria," said Charles Cain, Chief of the SEC Enforcement Division’s FCPA Unit.
Oil bunkering in Nigeria is a more attractive industry than piracy, for now, but this may change in late 2023.