Week 64: Natural Gas Report

By Anon

Share On:

Week 64: Natural Gas Report

According to a recent report from the International Energy Agency, the proposal to rehabilitate government-owned refineries in Nigeria is unlikely to materialize.

Nigeria and other African refiners had lost out on the past decade's rise in oil demand, according to the Paris-based organization.

Africa, the world's second-most populous continent, had become a major oil product import market, especially in the sub-Saharan region, according to the study.

“The start-up of the 650 kb/d refinery in Lekki, Nigeria, projected within the next three years, would mark a turning point in the continent's refining fortunes,” according to the IEA.


According to a Consumer Energy Alliance report, a New York City ban on natural gas connections in new buildings by 2030, as well as announced policies to ban natural gas and other fossil fuels in large buildings by 2040, could cost New York City households upwards of $25,000 per year.

According to Reuters, New York City Mayor Bill de Blasio declared a ban on gas hookups in new buildings in January, joining other cities such as Berkeley and San Francisco in California.

According to the report, Blasio has also stated his intention to block new pipeline infrastructure.


The largest U.S. gas distribution utility, Southern California Gas Co (SoCalGas), set a goal to reach net zero greenhouse gas emissions by 2045, aligning with the state's goal of being carbon-neutral in 25 years.

The pledge is one of a slew of commitments made by American businesses to help combat climate change as President Joe Biden's administration plans new measures to put the country's economy on a path to net-zero emissions.


Oil prices dropped more than 1% on Thursday, owing to persistent demand concerns in Europe, which is grappling with an increase in Coronavirus infections and a sluggish vaccine rollout.

After jumping as much as 6% on Wednesday, Brent crude for May settlement dropped 86 cents, or 1.3 percent, to 63.55 dollars per barrel.

After climbing 5.9% the day before, US West Texas Intermediate (WTI) crude futures were down 98 cents, or 1.6 percent, at 60.20 dollars.

There are increasing fears that tighter pandemic restrictions in Europe, as well as vaccine delays, would stifle demand growth.



On Thursday, INEOS Energy announced that it had agreed to sell its Norwegian oil and gas business to PGNiG Upstream Norway AS of Poland for $615 million. All of INEOS' oil and gas interests, including production, licenses, fields, facilities, and pipelines, are included in the deal.

INEOS Energy, chaired by former BP finance chief Brian Gilvary, was founded late last year, integrating the group's existing oil and gas properties. The transaction helps us to monetize a non-operated, mostly gas portfolio at a lower price than our hold value.

PGNiG Upstream Norway's production will increase to around 1.5 billion cubic metres (bcm) annually over the next five years if it purchased INEOS E&P Norge AS, which has an estimated 117 million barrels of oil equivalent.



The two-year contract extension for the Trident 16 jack-up rig is in direct continuation of Shelf Drilling's current term with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez offshore Egypt, the company said on Thursday.

Since 2015, the Trident 16 rig has been operating with Petrobel in the Belayim fields. Shelf Drilling estimates that the rig will be available in February 2023 after this extension. Following a suspension in October 2020, the Trident 16 resumed operations for Petrobel Egypt last November, and the contract was then extended until April 2021, as previously announced in March.

The government of Bangladesh has undertaken a costly gas infrastructure project with two aims: improving gas production and expanding the capacity of the gas pipeline. Any basic mathematics can explain the impetus behind expenditure of 453 million dollars. Exploration and production supply of natural gas did not keep pace with growth in demand.

The National Government set up the Bangladesh Petroleum Exploration (BAPEX) and Production Business in 1989. At Bhola, which is the heart of the Shabazazpur Gas Field, in October 2017 the company discovered gas. The company found in Comilla District in March 2020 the Srikail Gas Field.


Nigeria's parliament is scheduled to pass the long-awaited Petroleum Industry Bill (PIB) in April, according to the country's minister of state for petroleum.

The bill, which has been in the works for 20 years, governs everything from oil exploration to gas pipelines and fuel control, and was sent to the Senate by President Muhammadu Buhari in September.

To make Nigeria's oil sector more dynamic and effective, the bill will reform the structure of the state oil company NNPC, amend oil and gas taxes and revenue-sharing, and establish new regulatory bodies, among other items.



The Nigerian LPG Market is the next success story of the Global LPG industry, if you need a partner with a global perspective and local expertise in the Nigerian and African space, kindly book for a free session with our team of experts to help you http://www.kiakiagas.com/book-session or write us an email at advisory@kiakiagas.com or Whatsapp: +2348085269328




Related Posts

Social Impact

How LPG is contributing to the growth of SMEs in Africas: Your One Stop LPG Provider

A crucial component of human life is energy. Reliable access to modern, reasonably priced energy is essential for a country's social and economic development. Traditional dirty-burning fuels used for cooking, such as coal, wood, and kerosene, produce large amounts of pollutants and carbon monoxide, which are the main contributors to indoor air pollution and its negative health impacts. Continual use of unclean fuels may result in early deaths, an increase in childhood and adult illnesses, associated environmental problems, and stress on the healthcare system, according to experts. Liquefied petroleum gas (LPG) was found in the search for cooking energy that would protect our environment from pollution. LPG is a type of energy that is used in cooking. It is produced by refining raw natural gas or crude oil that comes only from fossil fuel sources. It is kept and moved in LPG cylinders at a reasonable amount of pressure as a liquid. Propane and butane make up the majority of the gases created during the LPG production process. The first online energy company in Nigeria, Kiakiagas, provides excellent, prompt, and safe delivery of liquefied petroleum gas (LPG) and related products to Nigerian households and businesses. The company has developed into an energy solutions provider, paving the way for a future in which gas will drive the switchover of the African energy sector from fossil fuels to renewable sources, bringing electricity to consumers in the last mile from urban to off-grid areas.
Social Impact


Liquefied Petroleum Gas (LPG) is widely used for cooking around the world, but to a lesser level in most underdeveloped countries. LPG is a nonrenewable source of energy. However, when compared to cooking with hardwood or charcoal, it is commonly known that using LPG has few recorded negative health impacts. One of the main drivers of deforestation in Sub-Saharan Africa is the demand for firewood and charcoal as a source of cooking energy. Increasing the usage of LPG is one of the options for reducing the strain on forest resources. Cooking with biomass produces both greenhouse gas emissions and indoor pollution from black carbon. Kiakiagas has endeavor to reach different classes of people and orientate them on the benefit of LPG to their health. We also give information about how LPG is a more cost-effective, faster, and environmentally friendly cooking method than conventional methods. Following the increase in gas prices, many individuals were seeking for strategies to extend the life of their cooking gas. It's possible and easy to extend the life of your gas. Utilizing these suggestions will help you save a lot of money. Here, we come with a list on how you can conserve your cooking gas and make it last longer:
Social Impact


It is well known that the cost of food has climbed significantly in recent months along with the price of cooking gas, making life difficult for a large number of people. For the typical Nigerian household, cooking gas has turned into a luxury good. Bravo if you still have the means to fill yours to the brim! You don't come across people who can easily and comfortably fill up their gas cylinders every day. Every residence is frantically looking for ways to adapt to this change and extend the gas supply. On a more positive side, we have developed useful advice that will lessen how frequently you visit the petrol station. We have heard the word "savings" so frequently that we are accustomed to it. Many things can be saved, but we have no idea how to do it with LPG. Everyone encounters this question on a daily basis. Is there a way to conserve LPG for cooking? There is, and it's not particularly complicated. Your cooking style only needs a few little tweaks here and there to work. To learn some crucial advice on how to conserve household LPG, scroll down.