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Nigeria hit hard by Russia-Ukraine war, as Asian countries look away – NNPC
“To illustrate the extent of this shift, Nigeria’s crude exports to India dwindled from approximately 250,000 barrels per day (bpd) in the six months preceding the February 2022 invasion of Ukraine to 194,000 in the subsequent six months afterwards. And so far, this year, only around 120,000 bpd of Nigerian crude volumes have made their way to India.”
These were the exact words with which the Nigerian National Petroleum Company Limited (NNPCL) painted the stark realities of the negative side of the current war between Russia and Ukraine, particularly the dwindling interest in the nation’s crude.
Maryamu Idris, Executive Director, Crude & Condensate, NNPC Trading Limited, who painted the dark pictures, said the lingering conflict between Russia and Ukraine had impacted Nigerian crude oil inflows in the international oil market, leading to a dip in demand from the once-dependable Asian market at the onset of hostilities in the Eastern bloc.
At a panel presentation at the Argus European Crude Conference in London, she added that in addition to the substantial price shocks impacting commodity and energy prices globally, the conflict between Russia and Ukraine had triggered a situation where India, a primary destination for Nigerian grades, increased its appetite for discounted Russian barrels to the detriment of some Nigerian volumes.
She also noted that Nigerian crude flow to Europe had increased in a bid to fill supply gaps left by the ban on Russian crude, pointing out that six months before the war, 678,000 bpd of Nigerian crude grades went to Europe, compared to 710,000 bpd six months later and 730,000 bpd so far this year.
She added: “This trend makes it evident that Nigerian grades are increasingly becoming a significant component in the post-war palette of European refiners. Several Nigerian distillate-rich grades have become a steady preference for many European refiners, given the absence of Russian Urals and diesel. Forcados Blend, Escravos Light, Bonga, and Egina appear to be the most popular, and our latest addition — Nembe Crude – fits well into this basket. This was a strong factor behind our choice of London and the Argus European Crude Conference as the most ideal launch hub for the grade.”
On production challenges, Idris remarked that, like many other oil-producing countries, Nigeria had faced production challenges aggravated by the COVID-19 pandemic, including reduced investment in the upstream sector, supply chain disruptions impacting upstream operations, ageing oil fields, and oil theft by unscrupulous elements. These factors, she said, contributed to production declines in the second half of 2022 and early 2023.
Idris, however, noted that the challenges are fast becoming a thing of the past with the introduction and implementation of a new framework for the domestic petroleum industry (the PIA of 2021), rejuvenating the business landscape, and re-positioning NNPC Limited to adopt a more commercial approach to the management of the nation’s hydrocarbon resources.
According to her, NNPC Limited has secured vital partnerships with notable financial institutions to promote upstream investments to restore and sustainably grow production capacity in the coming years.
“NNPC Limited is championing concerted efforts in partnership with host communities and private stakeholders to address the security and environmental challenges in the Niger Delta to further fortify production growth. Suffice to say we have already begun seeing significant progress on the rebound. In September 2023, Nigeria recorded its highest crude oil and condensate output in nearly two years, reaching 1.72 million barrels per day. This, we believe, is just the beginning of our production rebound.”
She affirmed that in addition to sustainably growing upstream production volumes, NNPC Limited is also increasing its participation in the downstream sector in line with a ‘wells-to-wheels’ approach, taking the country’s unique hydrocarbon molecules as close as possible to end-users.
The vehicle for this, she said, is the restructured NNPC Trading Company, focused on growing NNPC’s presence in the global market for crude, condensate, gas, and petroleum products.
The Argus Crude European Crude Conference Panel Session, according to a statement by NNPCL spokesman, Sola Soneye, held with the theme: The Invisible Hand: How Are Shareholders and Asset Managers Meeting the Crude Industry? What Does This Mean for the Future of Crude in Europe? was moderated by Vice President Crude of Argus, James Gooder.
In a quick riposte on Saturday, Dave Umahi, Minister of Works, has cautioned Nigerians to be circumspect in the manner they react to the story of the death of a female student in his home in Ebonyi State, warning against the temptation of jumping to conclusion.
Conveying his position on the highly-volatile matter through Francis Nwaze, his spokesman, Umahi, former Governor of Ebonyi State and a key figure in the government of President Bola Tinubu, said caution was needed to enable the police conduct unfettered investigation into the matter.
It was his response to breaking of how one Mary Habila, a female physiotherapist reportedly died in his palatial home at Uburu, Ohaozara Local Government Area of Ebonyi State, on June 27, hours after arriving the day before.
Nwaze, a Senior Special Assistant on Media and Publicity, specifically cautioned against speculations by “tale bearers,” while conveying the Minister’s shock over the matter and his eagerness for the authorities to get at the root of the matter through forensic investigations.
He wrote in the statement: “The attention of the Media Office of the Honourable Minister of Works, Senator Engr. David Nweze Umahi, has been drawn to a publication by a publication concerning the unfortunate passing of Miss Mary Habila in Uburu, Ebonyi State, alleging that the circumstances surrounding her death were shrouded in secrecy.
“The Honourable Minister received the news with profound shock and sadness and has since extended his heartfelt condolences to the bereaved family. For the avoidance of doubt, immediately the unfortunate incident occurred, appropriate emergency steps were taken. Medical personnel, including the Chief Medical Director of the David Umahi Federal University of Health Sciences, Uburu, were contacted without delay, while the Nigeria Police was promptly notified in accordance with the law.
“Following confirmation of Miss Habila’s passing, the Honourable Minister personally received her parents, conveyed his sincere condolences, and advised that an autopsy be conducted to scientifically establish the exact cause of death. At the time, however, the family declined the recommendation.
“It is important to clarify that Miss Mary Habila and Miss Anita Baski are employees of the David Umahi Federal University of Health Sciences, Uburu, who had been on secondment to the Federal Ministry of Works as physiotherapists for the past three years until the unfortunate passing of Miss Habila.
“Following the recent developments and in the interest of ensuring that the truth is established beyond doubt, the Honourable Minister has again reiterated his position that an autopsy must be conducted. He remains convinced that this is the most credible and responsible path to resolving all questions surrounding the unfortunate incident.
“We therefore urge the public to exercise restraint, refrain from speculation or premature conclusions, and allow the relevant authorities to carry out their responsibilities without interference. At this difficult time, our thoughts and prayers remain with the family of the deceased, and we pray that God grants them the strength to bear this irreparable loss.”
The circumstances that led to the sudden death of Mary Habbila, a Nigerian female student died in the Uburu, Ohaozara Local Government Area of Ebonyi State, home of Dave Umahi, Minister of Works, has now thrown the entire household and environs into serious quandary.
SaharaReporters, which first broke the revealed that the incident, which happened since June 27 this year, has been shrouded in secrecy, with both the Ebonyi State Government and the state police command maintaining silence over the matter.
The incident, the report, added, took place barely a day after Habbila and another woman, Anita Baski, both from Kaduna State, were reportedly brought to the minister’s residence, triggering a police investigation, with the case transferred from the Ohaozara Divisional Police Headquarters to the Ebonyi State Criminal Investigation Department (SCID) in Abakaliki.
Habbila and Baski reportedly arrived at the minister’s residence on June 26 to “attend” to him, only for Habbila to be found dead inside the residence the following morning under circumstances investigators are still trying to establish.
Police sources were quoted by the paper as saying that Jonathan Bawado, a police officer who serves as Senator Umahi’s Personal Assistant and previously worked as his Aide-de-Camp (ADC) during his tenure as Governor of Ebonyi State, alerted medical personnel after Habbila was discovered unresponsive.
Subsequently, a doctor and an ambulance were dispatched to the residence, while Tobechukwu Godwin, Chief Superintendent of Police (CSP) Divisional Police Officer (DPO) of Ohaozara Police Division, was notified of the incident, the report said, adding that at the hospital Chihurumnanya Alo, a Professor and Consultant Public Health Physician, Infectious Diseases Specialist and Chief Medical Director of the David Umahi Federal University Teaching Hospital (DUFUTH), Uburu, was also alerted about the incident.
The police who subsequently conveyed Habbila’s body to a mortuary, were said to have handed over the identification tag attached to Habbila’s to the Ebonyi State Police Command by the said DPO, as part of the ongoing investigation.
SaharaReporters, quoted a senior police officer, with knowledge of the case as saying: “The case has been transferred to the State Criminal Investigation Department in Abakaliki,” but, however declined to provide further details, citing the ongoing investigation.
Unlike in other cases, security operatives in Nigeria have upped the ante by adding the arrest of perpetrators to the menu of rescue operations, with the announcement of the capture of eight terrorists who participated in the abduction of school teachers and students in Oyo State on May 15.
All the 46 pupils, students and teachers abducted by terrorists from three schools in Oriire Local Government Area of Oyo State, regained their freedom on Friday, after about 56 days in captivity, with several others reportedly also neutralised during the operation.
Giving a clue of what transpired during the operation, Bayo Onanuga, who broke the story of the feat, said it was the outcome of sustained security operations, which also foiled the attempt by the abductors to secure the release of one of their captured leaders.
Onanuga, Special Adviser to the President on Information and Strategy, using his X handle to give details about the operation, said: “Finally, all the kidnapped pupils and teachers in Orire, Oyo have been rescued by our security agencies. In the course of the rescue operation, eight of the kidnappers were arrested and are now in DSS custody, while some of them were neutralised.”
“There was no quid pro quo in the rescue as one of the terrorists, a kingpin, that the kidnappers demanded his release, is being prosecuted for his atrocities. The security agencies will give full account soon.”
The victims were abducted on May 15 when heavily armed bandits attacked Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School in the Esiele and Yawota communities of Oriire Local Government Area, seizing dozens of pupils, students and teachers.
The abduction sparked nationwide outrage, with parents, labour unions, traditional rulers and civil society groups mounting sustained pressure on the authorities to secure the victims’ release.
The incident also triggered an indefinite strike by the Nigeria Union of Teachers in Oyo State over growing insecurity in schools.
President Bola Tinubu had condemned the attack and ordered security agencies to intensify intelligence-led operations to rescue the captives and bring the perpetrators to justice.
The President subsequently dispatched a high-powered Federal Government delegation to the affected communities, approved the deployment of specialised rescue assets and authorised the recruitment of 1,000 forest guards to strengthen security across Oyo State.
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