Markets

NPA Unveils Modern Pollution Equipment to Tackle Oil Spills

Published

7 years ago

October 24, 2017

NPA Unveils Modern Pollution Equipment to Tackle Oil Spills

The Nigerian Ports Authority (NPA) has pledged its continued support in the area of capacity building for greater efficiency and service delivery, just as it unveiled modern pollution and environmental equipment to tackle oil spills.

The Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, at the passing out ceremony of 125 Officers of Squad 49 of Fire Service Department of the authority, expressed excitement at the fact that 21 out of the Squad are of the female gender stressing that it is an indication that women are beginning to see the value of breaking the barriers of limitation that the society has place on them.

According to her, management is aware of the numerous challenges in today’s business environment and would ensure that it works assiduously towards realizing its Mission statement of providing efficient port services in a safe, secure and Customer Friendly Environment.

She charged the new officers to join the pool of vast professionals abound in the Organization in delivering nothing but excellence to the Industry in line with our organizational vision.

In addition, she told stakeholders that the ancillary’s skills acquired by the officers like Swimming and Water Rescue, Articulated Vehicle Driving, Road Traffic Crash Rescue and First Aid Treatment are critical ingredients for professionalism adding that management would ensure that they impact meaningfully in the system.

She pledged commitment and support to the Fire Service Department at delivering plausible services in line with industry standards. In a related development, Bala-Usman expressed satisfaction in the area of environmental pollution preparedness of the Organization concerning oil spillage on the nation’s territorial waters. In this regard, she unveiled modern pollution and environmental equipment namely Drones, Jet Skies and Booms for surveillance, monitoring and containing oil spillages.

Others are Blowers, Pressure Washers, Skimmers, Power Pack Absorbers and Multiple Dispersant Sprays.The managing director, urged the officer and staff in charge of the equipment to put them into optimal use to the appreciation of the stakeholders whilst bringing to the fore that the government is interested in ensuring the effective compliance and sustenance of the Ease of Doing Business at the Ports.

She therefore postulated that matters concerning the occupational health of the officers and staff of the authority is constantly paid premium to and urged the Pollution and Environmental crew to utilize the equipment to its optimal use.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Crude Oil

Oil Prices Rebound on OPEC+ Output Delay Talks and U.S. Inventory Drop

Published

3 days ago

September 5, 2024

Samed Olukoya

Oil prices made a modest recovery on Thursday on the expectations that OPEC+ may delay planned production increases and the drop in U.S. crude inventories.

Brent crude oil, against which Nigerian oil is priced, rose by 66 cents, or 0.9% to $73.36 per barrel while U.S. West Texas Intermediate (WTI) crude appreciated by 64 cents or 0.9% to $69.84 per barrel.

The rebound in oil prices was a result of the American Petroleum Institute (API) report that revealed that the U.S. crude oil inventories had fallen by a surprising 7.431 million barrels last week, against analysts 1 million barrel decline projection.

The decline signals better than projected demand for the commodity in the United States of America and offers some relief for traders on global demand.

John Evans, an analyst at PVM Oil Associates, attributed the rebound in crude oil prices to the API report.

He said, “There is a pause of breath and light reprieve for oil prices.”

Also, discussions within the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, are fueling speculation about a potential delay in planned output increases.

The group was initially expected to increase production by 180,000 a day in October 2024.

However, concerns over softening demand in China and potential developments in Libya’s oil production have prompted the group to reconsider its strategy.

Despite the recent rebound, analysts caution that lingering uncertainties around global oil demand may continue to weigh on prices in the near term.

Energy

Power Generation Surges to 5,313 MW, But Distribution Issues Persist

Published

4 days ago

September 4, 2024

Samed Olukoya

Nigeria’s power generation continues to get better under the leadership of President Bola Ahmed Tinubu.

According to the latest statement released by Bolaji Tunji, the media aide to the Minister of Power, Adebayo Adelabu, power generation surged to a three-year high of 5,313 megawatts (MW).

“The national grid on Monday hit a record high of 5,313MW, a record high in the last three years,” the statement disclosed.

Reacting to this, the Minister of Power, Adebayo Adelabu, called on power distribution companies to take more energy to prevent grid collapse as the grid’s frequency drops when power is produced and not picked by the Discos.

He added that efforts would be made to encourage industries to purchase bulk energy.

However, a top official of one of the Discos was quoted as saying that the power companies were finding it difficult to pick the extra energy produced by generation companies because they were not happy with the tariff on other bands apart from Band A.

“As it is now, we are operating at a loss. Yes, they supply more power but this problem could be solved with improved tariff for the other bands and more meter penetration to recover the cost,” the Disco official, who pleaded not to be named due to lack of authorisation to speak on the matter, said.

On Saturday, the ministry said power generation that peaked at 5,170MW was ramped down by 1,400MW due to Discos’ energy rejection.

Crude Oil

Again NNPC Raises Petrol Price to N897/litre

Published

4 days ago

September 4, 2024

Investors King

The Nigerian National Petroleum Company (NNPC) Limited has once again increased the price of Premium Motor Spirit (PMS) from N855 per litre on Tuesday to N897 on Wednesday.

The increase was after Aliko Dangote, the Chairman of Dangote Refinery, announced the commencement of petrol production at its refinery.

The continuous increase in pump prices has raised concerns among Nigerians despite the initial excitement from the refinery announcement.

According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the 650,000 barrels per day refinery will supply 25 million litres of petrol to the Nigerian market daily this September.

This, NMDPRA said will increase to 30 million litres per day in October.

However, the promise of increased fuel supply has not yet eased the situation on the ground.

Tunde Ayeni, a commercial bus driver at an NNPC station in Ikoyi, said “I have been in the queue since 6 a.m. waiting for them to start selling, but we just realised that the pump price has been changed to N897. This is terrible, and yet they still haven’t started selling the product.”

The price hike comes as NNPC continues to struggle with sustaining regular fuel supply.

On Sunday, the company warned that its ability to maintain steady distribution across the country was under threat due to financial strain.

NNPC cited rising supply costs as the cause of its difficulties in keeping up with demand.