NLNG spends $30bn on gas plants, infrastructure in Bonny Island – MD

The Nigerian Liquefied Natural Gas Company (NLNG) has invested over 30 billion US dollars (N10.8 trillion) to build gas facilities and other infrastructures in Bonny Island, Rivers, an official said.

Mr Tony Attah, Managing Director of NLNG disclosed this on Sunday at the end of week-long activities marking the company’s 20/30 Anniversary Celebration.

The News Agency of Nigeria (NAN) reports that NLNG used the occasion to celebrate its 20 years of operation in Bonny and 30 years of incorporation as a company.

The NLNG, Attah said, invested parts of the huge sum to build gas plants, known as Train 1, 2, 3,4, 5 and 6 as well as the ongoing construction of another Train 7 project.

“NLNG’s combined scale of investment in Bonny Kingdom is more than 30 billion dollars in assets, making it the most developed community in the Niger Delta.

“Our several accomplishments in the kingdom, ranged from our provision of modern road network, potable water and Finima Nature Park to residents of Bonny.

“Also, we invested in electricity that perhaps has made Bonny the only community in Nigeria with 99 per cent electricity and a preferred investors and tourist destination,” he said.

Attah further said the company has completed construction of Airstrip that could receive more than 60-passenger capacity aircrafts, making it one of the largest airstrip in Africa.

He said the company has provided N60.3 billion counterpart funding for the construction of N120.6 billion 34 kilometre Bonny-Bodo road project connecting Bonny Island to rest of the country.More in Home

“The ongoing road project, which we are co-sponsoring with the Federal Government, is expected to be completed within 48 months, thus triggering development and tourism in the area.

“We have also launched the malaria elimination initiative as well as the Bonny Community Health Insurance Programme in conjunction with Rivers State Government to provide affordable healthcare for the people.

“The company achieved these milestones due to the cordial and peaceful relationship existing between Bonny and Nigeria LNG in the last 20 years,” he added.

NAN reports that the managing director later laid foundation for the reconstruction of Bonny Consulate Building, a historic building once used by slave merchants to transport slaves abroad.

The managing director said the building would be equipped with a museum, library, movie hall, radio station, cafe, seminar/exhibition hall, souvenir shop and offices.

According to him, the company is poised to making Bonny Kingdom the Dubai of Africa and top business and tourism destination on the continent.

Speaking, the Amanyanabo of Bonny Kingdom, King Edward Pepple thanked NLNG for transforming the kingdom and assured the company of peaceful coexistence of residents.

“We thank this outstanding company (NLNG) for respecting the soul of this kingdom by positively touching on every aspect of our existence,” he added.

High point of the weeklong activities was presentation of 100,000 US dollars prize to Jude Idada, winner of the 2019 Children’s Literature and award of N132 million worth of scholarship to 12 graduates to pursue Master’s degrees in the United Kingdom.

Nigeria Starts Talks With Oil Majors to End $62 Billion Dispute

Nigeria began preliminary talks with international oil companies to settle a dispute over revenue.

Citing a 2018 Supreme Court ruling, the government says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil exceeds $20 a barrel. The companies are challenging the claim.

“We have opened up a process of engagement between the parties,” Justice Minister Abubakar Malami said at his office in Abuja late on Saturday. “Whether those discussions will eventually translate to settlement, whether it will translate to opening up of a full-blown negotiation process, is what we wait to see.”

READ: Nigeria Wants $62 Billion From Oil Majors on Offshore Ruling

President Muhammadu Buhari is trying to bolster government funds after crude output and prices dropped. Nigeria relies on oil for at least two-thirds of state revenue and more than 90% of foreign-currency income. While oil is the country’s main export, it has also targeted other foreign companies in the past, fining mobile operator MTN Group Ltd. $5.2 billion in 2015, and eventually settling for less than $1 billion after months of negotiations.

Most of Nigeria’s crude is pumped by Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA, who operate joint ventures with state-owned Nigerian National Petroleum Corp. Under production-sharing legislation, the companies agreed to fund the development of deepwater oil fields on the basis that they would share profit with the government after recovering their costs. Crude was selling at $9.50 a barrel when the law became effective 26 years ago, and is now trading above $60 in London.

“Taking into consideration the government’s need to attract investments, no possibility can be out-ruled,” Malami said. “The possibility of settlement is not out of sight.”

14-10-2019

AGO

PORT HARCOURT DEPOTDEPOT PRICE
AVIDOR PH
SHORELINK
BULK STRATEGIC PH
TSL
MASTERS
LIQUID BULK₦200.0
STOCKGAP
NIPCO/SIGMUND₦187.0
BULK STRATEGIC/NIPCO₦187.0
BULK STRATEGIC/TULCAN
CALABAR DEPOTDEPOT PRICE
NORTHWEST ₦190.0
AMASCO
MAINLAND / PPMC
SAMON PET₦189.0
FYNEFIELD₦189.5
ALKANES₦190.0
YSG (YOUNG SHALL GROW)₦189.5
BLOKKS
HYDE₦ 189.0
UGO HANNAH₦192.0
WARRI DEPOTDEPOT PRICE
RAINOIL OGHARA₦189.0
NEPAL OIL & GAS / NNPC₦189.0
PRUDENT OGHARA₦193.0
MATRIX₦188.0
CYBERNETICS₦ 189.0
PINNACLE₦ 188.0
AYM SHAFA₦ 187.0
LAGOS DEPOTDEPOT PRICE
AFRICA TERMINALS₦188.0
IBACHEM₦187.0
IBETO₦187.0
INT. OIL & GAS₦189.5
LEIGHTEN PET
ETERNA
FOLAWIYO
OBAT
OVH
RAHAMANIYYA
A Z
NIPCO
AITEO₦187.0
AIPEC₦186.0
SAHARA
EMADEB ENERGY₦185.5
A.A RANO₦186.5
WOSBAB₦186.0
MAO
GULF TREASURE₦186.0
SWIFT₦187.0
RAIN OIL₦188.0
MENJ₦188.0
TECHNO OIL
FATGBEMS₦186.0
MRS

DPK

PORT HARCOURT DEPOTDEPOT PRICE
AVIDOR PH
SHORELINK
BULK STRATEGIC PH
TSL
MASTERS
LIQUID BULK
STOCKGAP
CALABAR DEPOTDEPOT PRICE
NORTHWEST
AMASCO
MAINLAND / PPMC
SAMON PET
FYNEFIELD
ALKANES
YSG (YOUNG SHALL GROW)
BLOKKS
WARRI DEPOTDEPOT PRICE
RAINOIL OGHARA
NEPAL OIL & GAS / NNPC
PRUDENT OGHARA
MATRIX
A.Y. Shafa
LAGOS DEPOTDEPOT PRICE
AFRICA TERMINALS
IBACHEM
IBETO
INT. OIL & GAS
LEIGHTEN PET₦212
ETERNA
FOLAWIYO
OBAT₦209.0
D-JONES
RAHAMANIYYA
SAHARA₦211.0
NIPCO
AITEO
AIPEC
STAR SNERGY
EMADEB ENERGY₦209
A.A RANO
WOSBAB
MOBIL₦210.5
CHIPET
BOND₦210
RAIN OIL
MENJ
FORTE OIL
MRS₦215.0

ATK

PORT HARCOURT DEPOTDEPOT PRICE
AVIDOR PH
SHORELINK
BULK STRATEGIC PH
TSL
MASTERS
LIQUID BULK
STOCKGAP
CALABAR DEPOTDEPOT PRICE
NORTHWEST
AMASCO
MAINLAND / PPMC
SAMON PET
FYNEFIELD
ALKANES
YSG (YOUNG SHALL GROW)
BLOKKS
WARRI DEPOTDEPOT PRICE
RAINOIL OGHARA
NEPAL OIL & GAS / NNPC
PRUDENT OGHARA
MATRIX
LAGOS DEPOTDEPOT PRICE
AFRICA TERMINALS₦215.5
IBACHEM
IBETO
INT. OIL & GAS
LEIGHTEN PET₦ 215.5
ETERNA
FOLAWIYO
OBAT
D-JONES
RAHAMANIYYA
A Z
NIPCO
AITEO
AIPEC
STAR SNERGY
EMADEB ENERGY₦210
A.A RANO
WOSBAB
MAO
CHIPET
BOND₦210
RAIN OIL
MENJ
MRS₦215
MOBIL₦209

PMS

PORT HARCOURT DEPOTDEPOT PRICE
AVIDOR PH
SHORELINK
BULK STRATEGIC PH
TSL₦134.0
MASTERS₦133.8
LIQUID BULK₦133.8
STOCKGAP₦133.8
CALABAR DEPOTDEPOT PRICE
NORTHWEST ₦133.7
AMASCO
MAINLAND / PPMC₦133.28
SAMON PET
FYNEFIELD₦133.5
ALKANES
YSG (YOUNG SHALL GROW)
BLOKKS ₦133.3
UGOHANNA₦133.3
WARRI DEPOTDEPOT PRICE
RAINOIL OGHARA₦132.9
NEPAL OIL & GAS / NNPC₦133.0
PRUDENT OGHARA₦132.9
MATRIX
LAGOS DEPOTDEPOT PRICE
AFRICA TERMINALS
IBACHEM
IBETO
INT. OIL & GAS₦132.0
LEIGHTEN PET
ETERNA₦133.5
FOLAWIYO₦133.5
SWIFT₦132.2
D-JONES₦132.0
RAHAMANIYYA
A Z
NIPCO₦132.7
AITEO
AIPEC₦132.2
STAR SNERGY₦132
EMADEB ENERGY₦133.0
A.A RANO₦133.2
WOSBAB₦132.5
MAO
CHIPET₦132.0
BOND
RAIN OIL
MENJ₦132.2
FATGBEMS₦132.2
BOVAS₦132.2

LPG

PORT HARCOURT DEPOTDEPOT PRICE
STOCKGAP₦ 3,200,000
SHORELINK₦ 3,350,000
CALABAR DEPOTDEPOT PRICE
DOZZYN 3,300,000
WARRI DEPOTDEPOT PRICE
PRUDENT₦ 3,250,000
MATRIX₦ 3,150,000
LAGOS DEPOTDEPOT PRICE
NIPCO₦ 3,300,000
NAVGAS₦ 3,300,000
NNPC
PPMC