General
Shell Reaffirms Support for Research, Development in Nigeria
By Adedapo Adesanya
Shell has reiterated its commitment to its research and development strategy, which, according to the Managing Director of the deep-water business of Shell in Nigeria, Mrs Elohor Aiboni, aligns with the country’s 10-year strategic roadmap for local content being implemented by the Nigerian Content Development and Monitoring Board (NCDMB).
According to her, Shell Nigeria Exploration and Production Company (SNEPCo) would continue to explore opportunities for collaboration with public and private sector stakeholders to enhance in-country capabilities in research and development.
Mrs Aiboni made the commitment at the just concluded second edition of the NCDMB Research and Development Opportunity Fair in Yenagoa, Bayelsa State Capital. “Research and Development have always been a very important activity in our industry and, it is a business imperative for SNEPCo both for solving problems – whether technical or operational – and for the potential for import substitution.”
She said, “Collaboration is particularly significant because, without an effective and sustainable collaboration framework that keeps all stakeholders well connected, it will be near impossible to deliver results from R&D, particularly sustainable results.”
She noted that for over 40 years, Shell Companies in Nigeria deliberately and strategically established strong relationships and partnerships with the academia for building and growing in-country R&D.
She listed some of the areas of partnership to include the annual Sabbatical and Research Internship programmes in Shell for Nigeria academics.
According to Mrs Aiboni, Shell companies in Nigeria have continued to expand their research and development initiatives to reposition the Nigerian oil and gas industry as an exporter of innovations.
“Thirty Nigerians from the academia joined Shell companies in Nigeria in 2020 for the Sabbatical and Research Internship programme which was the highest number of participants in the programme’s history,” she said.
“Since we are a global business organisation, we recognise that research thrives in world-class research institutions, intellectually rich and technology-enabled environments.
“Shell Companies in Nigeria, therefore, endowed targeted professorial chairs and two Centres of Excellence in Nigerian universities as key fulcrums in our drive to encourage R&D in Nigeria,” she noted.
Shell companies in Nigeria have Centres of Excellence for postgraduate studies at the University of Benin, for Geoscience and Petroleum Engineering, and at the Rivers State University, for Marine and Offshore Engineering.
There are also Shell-endowed professorial chairs at the University of Port Harcourt (Petroleum Engineering); the University of Nigeria, Nsukka (Environmental Management and Control); the Obafemi Awolowo University (Geophysics); and the Ahmadu Bello University, Zaria (Mechanical Engineering).
She said Shell had commenced research to seek local alternatives to the importation of drilling fluids by exploring the development of Synthetic Base Fluids using materials that are available locally in Nigeria. “This is still ongoing and proudly nearing completion by the commissioned two Nigerian universities.”
The NCDMB R&D Opportunity Fair featured exhibitions and technical discussions by academics and stakeholders in oil and gas on strategies for generating demand-driven research that would solve practical problems and improve exploration and production activities.
By Emmanuel Udom
The Abeokuta diocese of the Catholic Church in Ogun State is set to hold a one-day training for all parish correspondents across its over 69 parishes in the state.
Business Post gathered that the training is planned for Saturday, May 3, 2025, at the St Peter & Paul Catholic Hall, located at Itesi along Adetan Road in Abeokuta, Ogun Sstate.
The training will commence from 10 am to 2.30 pm and the event is coming ahead of the church’s Communications Week (ComWeek) fixed for May 25 to June 1, 2025, at the same venue.
The Social Communication Director for the diocese, Fr Gregory Fadele, in a statement said all parish correspondents are expected to be at the venue of the training on or before 9.30 am for registration.
He, however, disclosed that no proxy arrangements would be allowed as refreshments, stationary, certificate of participation, and others would be given to each correspondent drawn from all the parishes of the Catholic church in Ogun State.
By Adedapo Adesanya
African Export-Import Bank (Afreximbank) has backed plans to set up an oil trading house called Africa Trading Minerals (Atmin), which will finance the purchase of refined petroleum products by African and Caribbean oil buyers.
The bank has invested $3 billion in the trading house, which it expects to finance about $10 billion to $14 billion of Intra-African petroleum imports.
Atmin will be based in Dubai, the United Arab Emirates, and is expected to have around 15 employees.
It will start with crude and then expand into oil products and minerals, according to reports.
Afreximbank will be a controlling shareholder at Atmin, while employees will own some 15 per cent of the firm.
The move takes place as oil majors and Western banks retreat from Africa, and the continent is facing a decline in oil and gas production due to under-investment, while also spending $30 billion annually on fuel imports.
It is also seeking to address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of $30billion annually in petroleum import costs due to inadequate refining.
Key products to be traded are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.
According to Reuters, Atmin will be run by Mr Ajay Oommen,a former Shell executive who worked for the oil major for for 17 years as well as Mr Vikram Thakur, who worked for 18 years at Shell, including in business development, trading origination and structured finance, as well as Mr Joseph Kanaan, a trader at Shell for 11 years.
Speaking on this, Mr Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the development will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa.
“It will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products.
“The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa,” he said.
By Modupe Gbadeyanka
A popular Lagos-based socialite, Mr Emeka Daniel Okonkwo, otherwise known as E-Money, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
The younger brother of a well-known musician, KCee, whose real name is Mr Kingsley Okonkwo, was reportedly arrested by the agency on Monday night at his residence at Omole Estate, Lagos.
He was accused of spraying foreign currency at a public function recently, an act believed to be against the Foreign Exchange Act.
At the time of filing this report, the EFCC has not reacted to reports of E-Money’s arrest.
The organisation is said to be looking into the matter with a view to prosecuting the socialite for the alleged offence.
He was said to have been flown to Abuja for questioning and should be taken to court to face the full wrath of the law if the agency is certain that he has committed an offence.
Recall that some days ago, E-Money was at the 50th birthday of another socialite, Mr Obinna Tochuukwu Iyiegbu, otherwise known as Obi Cubana, in Abuja.
He was also spotted at the wedding ceremony of Iyabo Ojo’s daughter in Lagos.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN