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Sahara Energy affirms commitment to cleaner fuels
Mr Andrew Laven, Chief Operating Officer, Sahara Energy Resources DMCC, Dubai, says an increase in demand for Very Low Sulphur Fuel Oil (VLSFO) will lead to strengthening of prices, as economies begin to recover and trade restrictions ease, following the COVID-19 pandemic.
In a statement issued in Lagos on Wednesday, Mr Bethel Obioma, Head, Corporate Communications, Sahara Group, said that Laven made the prediction in an article for a leading trade publication, Energy Voice.
In the article, Laven explored key industry developments in the six months since the introduction of the International Maritime Organisation (IMO) 2020 Policy.
He reaffirmed Sahara Group’s commitment to cleaner fuels, welcoming industry-wide efforts to reduce maritime sulphur emissions and commending the energy sector’s transition to VLSFO without incurring anticipated delays.
“Sahara Group continues to demonstrate leadership in the energy sector globally, providing full backing for progressive policy-making in support of wider sustainability initiatives, ” Laven said.
Previewing Sahara Group’s plans for the United Arab Emirates and other markets, he reiterated the energy conglomerate’s preparedness for transitions to cleaner fuels.
Laven said, “For the foreseeable future, this will be the marine fuel of choice and we want to play our part, in ensuring availability and supporting the supply chain, that is necessary to keep trade moving.”
On economic recovery post-COVID-19, he said the shipping business would inevitably see increased demand.
“International shipping is responsible for around 90 per cent of world trade. This will drive demand for VLSFO and prices should strengthen.
“The build-up of stocks in advance of 2020 meant shortages did not occur and the reduction in demand through COVID-19 meant the supply chain hasn’t been fully tested,” he said.
He allayed the fear that the energy sector would not adjust smoothly or productively to the IMO 2020 Policy.
Laven said: “While the talk was negative, the industry proved very capable of rebalancing and the shift to VLSFO started during the third quarter of 2019.
“The spike in High Sulphur Fuel Oil (HSFO) was driven by restricted availability, as storage shifted to VLSFO.
“The price of VLSFO rose at times to higher than the next alternative, MGO.
“As the supply chain became more robust and stocks of VLSFO built up, the differential to HSFO dropped. On occasions, HSFO actually became more difficult to purchase than VLSFO.”
The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.
Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.
An investigation into the cause of the collapse will commence once full grid restoration is achieved.
Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.
Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.
In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.
The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.
Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.
In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.
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