By Adedapo Adesanya

About N710.08 billion ($443.8 million) was lost to gas flaring in four months by oil and gas companies operating in Nigeria, the latest flare data released by the National Oil Spill Detection and Remediation Agency (NOSDRA) using an exchange rate of N1,600/$1 revealed.

The agency disclosed that the affected energy firms flared 126.8 billion standard cubic feet (SCF) of gas between January and April 2025, noting that this was 19.9 per cent higher than the N592.32 billion ($370.2 million) recorded in the same period of last year.

The oil spill agency noted that the gas flared in the first four months in 2025 contributed 6.7 million tonnes of greenhouse gases into the atmosphere; had power generation potential of 12,700 Gigawatts-hour (GWh), while the penalties accumulated by the offending companies was about N405.760 billion ($253.6 million,

In comparison, in the four-month period in 2024, Nigeria lost N592.32 billion ($370.2 million), about , to gas flaring, as oil and gas firms flared 105.8 billion SCF (BSCF) of gas, which contributed 5.6 million tonnes of carbon dioxide into the atmosphere, had power generation potential of 10,600 GWh, while the offending companies accumulated penalties of about N338.56 billion ($211.6 million).

Giving a breakdown of gas flared across different segments in the oil and gas sector, NOSDRA disclosed that companies operating onshore flared 85.4 billion SCF of gas, representing 67.4 per cent of the total flared in the four-month period, and valued at about N478.24 billion ($298.9 million).

The gas flared onshore, according to NOSDRA, had power generation potential of 8,500 GWh, contributed 4.5 million tonnes of carbon dioxide into the atmosphere; while the companies were liable for penalties of about N273.28 billion ($170.8 million).

Comparatively, in the same four-month period in 2024, companies operating onshore flared 54.6 billion SCF of gas valued at $191.2 million (N305.92 billion); with penalties payable at $109.3 million (N174.88 billion); carbon dioxide emissions of 2.9 million tonnes; and power generation potential of 5,500 GWh.

On the other hand, NOSDRA stated that companies operating offshore flared 41.4 billion SCF of gas between January and April 2025, and caused the country a loss of $144.9 million (N231.84 billion); contributed 2.2 million tonnes of carbon dioxide into the atmosphere; had power generation potential of 4,100 GWh, while the companies were liable for penalties of $82.8 million (N132.48 billion)

In comparison, offshore companies caused the country a loss of $179 million (N286.4 billion) between January and April 2024; and were to pay $102.3 million (N163.68 billion) as penalties; contributed 2.7 million tonnes of carbon dioxide into the atmosphere; while the gas flared had power generation potential of 5,100 GWh.

Furthermore, NOSDRA identified the offending companies as Shell Petroleum, Development Company (SPDC), Nigerian Petroleum Development Company (NPDC), Chevron Nigeria, Mobil Oil, Elf Petroleum Nigeria, Nigeria Agip Oil Company (NAOC), Addax Petroleum, Texaco Overseas (Nigeria), Esso Exploration and Production Nigeria, Allied Energy Resources, Ultramar Petroleum, Atlas Petroleum; Cromwell, Afric Oil and Marketing, Famfa Oil, Moni Pulo, and South Atlantic Petroleum, among others.

It stated that the offending companies flared gas from Oil Mining Leases (OML) 04, 05, 11, 13, 14, 17, 18, 22, 28, 23, 24, 38, 40, 42, 43, 72, 49, 54, 90, 95, 67, 70, 104, 59, 99, 100, 101, 102 and Oil Prospecting Licences (OPL) 222, 316 and 306, among others.

By Adedapo Adesanya

Dangote oil refinery is on a buying spree as it has been running at around 80 per cent since mid-March, according to industry monitoring group, IIR.

The 650,000 barrels per day is still far from achieving its full operational capabilities due to inadequate feedstocks, though it is currently targeting 85 per cent, according to Reuters, who quoted a spokesperson for the refinery as saying.

“It had been running at around 80 per cent since mid-March,” the publication cited.

To meet its target, the refinery will import at least five million barrels of US West Texas Intermediate (WTI) crude oil in July.

Commodity trader Vitol supplied two million barrels for July delivery in the latest Dangote tender, Azeri state-owned Socar another two million barrels, and  Glencore, a mining and trading entity, sold the remaining one million barrels.

This will extended the Lagos-based refinery’s buying spree after a potential record tally for June.

It is set to import around 161,000 barrels per day of WTI in July after awarding tenders in recent days.

For the month of June, the Dangote Refinery booked a record 300,000 barrels per day volume.

Dangote’s previous record for US crude imports was 173,000 barrels per day in April, as per data from global shipping analytics firm, Kpler.

The refinery is taking that much crude from other sources because Nigeria cannot supply it adequately as the 1.5 million barrels per day it produces is tied to contracts with other oil firms.

This year alone in addition to the US, Dangote has bought crudes from Angola, Equatorial Guinea, Algeria, and Brazil.

Meanwhile, the refinery is expected to operate at reduced rates through to October due to a series of issues in recent months. It is not immediately clear what this will mean for supply in the Nigerian market.

By Aduragbemi Omiyale

A Nigerian conglomerate, MSM Group, has expressed its desire to acquire one of the most strategic power assets in the country, Geregu Power plant.

The firm is showing interest in the power and energy sector because of the reforms and investor-friendly policies of the administration of President Bola Tinubu.

Also, the company wants to give the current cement makers a run for their money by establishing a multi-billion dollar factory in Kebbi State.

Already, it has signed a $2.4 billion agreement with the Kebbi State Government for the development of a three-million-metric-ton-per-annum cement plant.

The project, which is expected to generate over 45,000 direct and indirect jobs, marks one of the largest industrial commitments in the region in recent years.

It is believed that when completed, cement products from MSM Group will be the preferred brand among consumers, especially for the construction sector.

At the moment, Dangote Cement controls a market share of about 57 per cent in Nigeria, leaving Lafarge Africa, Mangal, BUA Cement, PureChem and others to jostle for 43 per cent.

The chairman of MSM Group, Mr Muazzam Mairawani, while signing the deals with the Kebbi State government in Abuja recently, said the company’s expansion drive aligns with Nigeria’s broader industrialisation drive and is set to stimulate economic activity in northern Nigeria.

He explained that the new cement factory would be developed in four phases, each to attract investment exceeding $600 million, marking a significant capital injection into Nigeria’s industrial economy.

“From now to production, our time frame is a maximum of two years,” he said, adding that MSM plans to expand to other states after Kebbi.

According to him, the organisation is also scouting greenfield opportunities in Edo and Gombe States, which will strengthen its bid to compete favourably with others.