lets not forget President Jonathan reformed our Oil and Gas sector. Construction of a 36”x136 km gas pipeline from Oben to Geregu for the supply of gas to Geregu Power Plant in 2011 - Construction of a 24’x31 km gas pipeline from Itoki to Olorunshogu to supply gas to OlorunshogoPHCN/NIPP Power Plant. Completed and currently supplying gas. -Crude oil production (including condensate)averaging 2.30 million barrels per day has been consistently maintained, in spite of oil bunkering and pipeline vandalism; -Nigeria Gas Company (NGC) gas sales and transmission throughput grew from 722 mmscf/din 2011 to about 800 mmcsf/d in 2012; - - Increase in Local Scholarship Schemes run by Petroleum Training Development Fund (PTDF)from 10 to 19 universities, to enable more participation of qualified Nigerians. This is due to the positive impact generated by the Scheme; - Reduction in gas flared from 25.3 percent in 2011 to about 20 percent in 2012, due to the government’s increased effort in implementation of programmes and projects in the Nigeria Gas Master Plan (NGMP) and Gas Revolution; - Reduction of daily consumption of premium motor spirit (PMS) from over 60 million to about 40 million litres per day in 2011 and 2012 respectively, due to improved documentation process under project Aquila. This has also led to a reduction in the subsidy gap, following the increase in pump price from 65 to 97 Naira/litre. - - Project Aquila payment efficiency has encouraged increased investments of N53 billionin the downstream sector, resulting in emergence of additional 27 new depots from 44 locations in 2010 to 71 depots in 2013, 1,000 new retail outlets and 800 new trucks; and - Establishment of the Hydrocarbon Pollution Restoration Project (HYPREP) in July 2012, to investigate and evaluate all hydrocarbon -polluted communities and sites in Nigeria, as well as identify oil spill sites and assess the impact of spillage on the eco system in the Niger Delta region. Documentation of oil spill sites in 9States of the region have been undertaken; - HYPREP robust programme has continued to restore the environment for healthy ecosystem, reduce draw-back in agriculture and fish farming which is a major component of Small and Medium Enterprise SME and is impacting positively on the health of the people; - Increase in Local Scholarship Schemes run by Petroleum Training Development Fund (PTDF)from 10 to 19 universities, to enable more participation of qualified Nigerians. This is due to the positive impact generated by the Scheme; - Niger Dock fabricated and completed the Abang and Itut oil production platforms, using 100 percent Nigerian engineering and fabrication. The total investment in the facilities upgrade and has generated over 10,000 jobs; - Rehabilitation of the Port Harcourt and Warri refineries to meet at least 70 percent of the country’s needs. This will save $3.5billion foreign exchange and enhance tax payment to treasury; - Revamping of the Fluid Catalytic Cracking unit(FCCU) in Kaduna Refinery after eight years in limbo, to boost local refining. Currently the Kaduna refinery is producing at 60 percent of installed capacity; - Trans-Sahara Gas Pipeline (TSGP): As an offshoot of the Trans Nigeria Gas Pipeline, the 5-phase TSGP currently at the 3rd phase, is expected to be completed during 2013 – 2016. The overall project to be completed in 2018, is aimed at further transporting gas from Nigeria to Europe through Niger and Algeria; if this is not transformation, then what? let the transformation continue!
Posted on: Tue, 30 Sep 2014 06:28:37 +0000
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