The Energy Republic July Edition 2022

NOG FEATURES
The conversation at this year’s conference is significant as the industry
navigates the growing global demand for renewable energy and climatefriendly
sources of energy in the face of Africa’s unique energy mix
requirements. Many industry leaders have also dubbed this to be an
opportunity to seek a lasting solution to Africa’s energy poverty and
bring much-needed socio-economic development.
As part of its commitment to the development of the Nigerian energy
industry, NOG will also provide the opportunity to showcase and train
industry stakeholders on best-in-class technology innovations across the
value chain through its CPD-certified NOG Technical Seminar. The
Technical Seminar will host sessions in 5 different streams covering
upstream operation, midstream, downstream, digitization, and project
management.
The NOG Conference and Exhibition annually hosts over 500 delegates,
300 exhibiting companies, 80 industry expert speakers, and 40 sessions
across 2 conference streams.
2022 Sponsors include NNPC, Nigeria LNG Limited, Shell, Chevron, Total
Energies, ExxonMobil, NCDMB, Prime Atlantic, DCPL, Coleman Wires
And Cables, First E & P, ND Westers, Nivafer, Russell Smith, Vurin Group,
MG Vowgas, PE Energy Ltd, WAV, among others.
NIGERIAN GAS POTENTIALS:
Ø Nigeria's proven gas reserves as of January 1,
2022 is 209.5 Trillion Cubic Feet (TCF).
Ø Nigeria has the largest gas reserves in Africa,
ranking Nigeria as the ninth in the world.
Ø President Buhari has declared 2021-2030 as
the Decade of Gas for a gas powered economy.
Ø Nigeria has pledged to achieve zero carbon
emission by 2060. Gas is going to play a big role
in achieving this target.
Ø There are huge investment opportunities for
investors in the Nigerian gas space, including the
Upstream in the area of exploration of frontier
basins, development of upstream gas fields and
the financing of greenfield/brownfield additional
production on de-risked assets.
NNPC’s PPMC Hits N12.95B Net Profit, Set to Expand
Business Portfolio
The Petroleum Products Marketing
Company (PPMC), a subsidiary of
the NNPC Ltd. has recorded an
impressive financial performance of
₦12.95bn profit in the year ended 31st
December 2021, representing a 260%
increase over its net profit of ₦3.59bn in
2020.
This was disclosed by the Alternate
Chairman of PPMC Board of Directors and
Chief Financial Officer of NNPC Ltd., Mr.
Umar Ajiya, during the company's 32nd
Annual General Meeting which held
recently in Abuja.
Ajiya said that the leap in profit was due to
the adoption of a commercial mindset in
the company's operation, a quality he said
is required for survival in today's business
environment.
He disclosed that the company also
achieved 85% reduction in demurrage cost
from $64.9m in 2020 to $9.46m in 2021 due
to effective vessels/cargo programming and
increased PMS demand, noting that the
figure surpassed the target of 50%
demurrage cost reduction that had been set
for the year.
He listed some of the company's
achievements for the 2021 financial year to
include:
3Sustenance of products supply
sufficiency, zero fuel queues throughout the
year with peaceful industrial harmony, and
automation of business processes.
On the outlook for the future, the CFO
informed that PPMC was looking at
expanding its products portfolio.
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Funding The Nigerian
Mix For Sustainable Economic Growth
THE ENERGY REPUBLIC I SPECIAL EDITION