OUR VISION

NNPC discovers oil in Nasarawa
By: Punch Newspaper

The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state.

It said the discovery was in continuation of its oil exploration activities in the country’s inland basins, adding that it would spud the first oil well in Nasarawa State in March 2023.

On January 5, 2023, The PUNCH reported that NNPC was prospecting for crude oil in more locations across the north, after discovering the commodity in Bauchi and Gombe states.

The report stated that NNPC was taking coordinated steps for more frontier exploration in the region, as part of measures to shore up the country’s oil output and reserves.

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FG to end fuel importation to end by 2024 
By: Ships & Ports

The Federal Government on Monday projected that by the first Quarter of 2024, Nigeria would put an end to the importation of petroleum products into the country.

The Minister of State for Petroleum Resources, Timipre Sylva, said by the first quarter of 2024 the rehabilitation of the Port Harcourt refinery would be partly completed while the 650,000 barrel per day capacity Dangote Refinery would also be on stream.

Sylva stated this at the resumption of the “PMB Administration Scorecard Series (2015-2023)” organised by the Ministry of Information and Culture.

Presenting the scorecard of his ministry, Sylva specifically said the 60,000 bpd capacity refinery within the Port Harcourt Refinery complex would be ready for production by Q1 2023.

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Tukey’s Yilport gets nod to operate Ghana’s Takoradi port 
By: Ships & Ports

Yilport Holdings has announced the signing of a Memorandum of Understanding to operate the Takoradi Port in Ghana, starting from April 2023.

Yilport Holding is a Turkish holding company involved in chrome ore mining, ferrochrome, coal trading, fertilizer production, shipping, shipbuilding, and port management services.

The agreement was signed by Yilport Holding’s Chairman, Robert Yuksel Yildirim; Chairman of Takoradi Port’s operating company Ibis Tek, Kwame Gyan and Director of Ibis Tek, Nana Yaw Boahene during a ceremony on 11 January in Istanbul, Turkey.

Yilport and Ibis Tek will establish a joint venture company to invest in and operate Ghana’s port. The new company will be named Yilport Takoradi Port Management Company, in which Yilport will hold a 70% stake and Ibis Tek will own the remaining 30%.

Adani-led group completes purchase of Israel’s Haifa Port
By:  Ships & Ports
A consortium led by India’s Adani Group has completed the purchase of Haifa Port in northern Israel for 4 billion shekels ($1.15 billion), Israel’s Finance Ministry said on Tuesday.

The sale of one Israel’s main seaports has taken five years and marks the culmination of a nearly two-decade reform of an underperforming sector plagued for years by labour strikes.

The country has been selling its state-owned ports and building new private docks in an effort to bring down costs and cut above-average waiting times for vessels to unload.

About 99% of all goods move in and out of Israel by sea and port upgrades are needed to maintain economic growth.
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