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Dangote acquires gas processing company in the Netherlands

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In a bid to meet Nigeria’s gas requirements, Dangote industries Limited (DIL) has completed the acquisition of Twister B.V, a company based in the Netherlands.

The company delivers reliable, high-yield and robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors. Its unique separation capabilities are designed for augmenting production and streamlining processes, and to capitalise on high-yield gas processing for maximising revenues.

Based on sophisticated patented technology, Twister gas plants are typically cheaper to build and operate compared to alternative technologies, and also deliver better performance levels. The company has customers in Nigeria, Malaysia, and South America.

Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3 bcfd of gas in order to meet Nigeria’s gas needs.

The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream segments of the Oil & Gas sector. The company will help design and build the gas plants which would be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by various industries and power plants.

Speaking on the new acquisition, President and CEO of Dangote Industries Limited, Aliko Dangote said it was an important acquisition.
“Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3 bcfd of gas in order to meet Nigeria’s gas needs.” he said.

“We are delighted with the confidence DIL and First E&P have shown in Twister to be their core provider of gas separation solutions. After a very thorough due diligence, our technology has been recognised as a key enabler to reduce gas project costs which is crucial in this current environment. We are excited to be part of the Dangote family of companies,” Twister’s CEO, John Young.

It would be recalled that the refinery and fertilizer projects of Dangote Industries Limited is reported to have the capacity of creating a minimum of 235,000 new jobs, both direct and indirect jobs, as it becomes operational in the first quarter of 2019.

Dangote, who revealed this recently, also stated that the projects would cost a minimum of $17 billion.

He said the $12 billion refinery would have a capacity of 650,000 barrels a day. He assured that there will be market for the refined products adding that even in Africa, only three countries have effective functioning refineries with others importing from abroad.

Dangote named the countries with refineries as Egypt, South Africa and Cote d’Ivoire, saying “Our refinery will be ready in the first quarter of 2019. Mechanical completion will be end of 2018 but we will start producing in 2019.”

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Dangote said the project when fully in operation in 2019, would help the country save $5 billion spent on the importation of oil into the country.

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Apple unveils new iPhone 11 with a triple-camera

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Apple Inc (AAPL.O) caught up with hardware rivals on Tuesday by revealing a triple-camera iPhone, and it rolled out a streaming TV service priced at $5 a month, undercutting Disney and Netflix.

The announcements came at the company’s biggest marketing event, where it unveils its top products for the year ahead, and showcased an aggressive Apple ready to battle on price.

The long-awaited Apple TV+ streaming television service will be available in over 100 countries, starting in November. The service will not be available in China when it launches, nor will the Apple Arcade video game subscription.

Buyers of an iPhone, iPad or Mac will get a free year of streaming TV, potentially drawing hundreds of millions of viewers to the service. That catapults the new service into a rarified group of companies.

“I think the pricing on the Apple TV service was definitely a positive surprise,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “That’s why you’re seeing the hammering in some of the other video service-related names like Netflix, Amazon and Roku. Clearly, that was a positive that people were happy to hear.”

There was no bundle with Apple Music or other services as some analysts had expected. But Ben Bajarin, an analyst with Creative Strategies, said the TV service, a $5 a month “Arcade” gaming service and the base model iPhone 11, seem designed to draw in users for the longer term.

“We weren’t expecting Apple Arcade and particularly Apple TV to be priced as aggressively as they were,” Bajarin said. “They know once consumers get into their ecosystem, they don’t leave.”

Apple said its new iPhone 11 will come with two back cameras, including an ultra wide-angle lens and the next generation of microchips, the A13. Prices start at $699, down from last year’s new iPhone that started at $749.

The more expensive iPhone 11 Pro will have three cameras on the back – wide angle, telephoto and ultra-wide. It can create videos with all three back cameras and the front camera at the same time and starts at $999. The iPhone 11 Pro Max with a bigger screen starts at $1,099. The new phones are available to order Friday and will start shipping Sept. 20.

Rivals including Huawei Technologies Co Ltd and Samsung Electronics Co Ltd (005930.KS) already sell phones with three cameras on the back. While Apple once tested the upper limits of what consumers would pay for a phone, it is now giving ground on prices, even making older models available at significant discounts to the latest technology.

“Consumers absolutely still care about cameras. That’s why it was surprising over the last couple of years that Samsung and Huawei got the jump on Apple,” said Patrick Moorhead, an analyst with Moor Insights & Strategy. “Apple was playing a bit of catch up, but Apple did bring their game, particularly on the video side of the camera, where I do think they’ll have the leg up.”

Analysts expect Apple will sell around 200 million iPhones in the next year, in addition to other devices, and while many of those will be in China, it ensures at least tens of millions of potential viewers for the subscription service.

Hal Eddins, chief economist for Apple shareholder Capital Investment Counsel, said Apple’s lower priced iPhones “aren’t exciting on the surface, but the low streaming price may suck in some new subscribers.” Apple shares gained 0.8%.

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Oando has announced the discovery of Gas in Niger Delta

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Oando plc through its molecule subsidiary oando energy resources (OER) on wednesday said it has made a correlation gas and quantum discovery in its fields in the Niger delta

A disclosure sent to the Nigerian Stock Exchange said the project is a joint venture arrangement among the Nigerian National Petroleum Corporation (NNPC).

Details showed that the NNPC owns 60 per cent stake in the project, while Oando and NAOC, the operator controls 20 percent each.

The discoveries were made in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta, the oil firm said.

The Obiafu-41 Deep appraisal/exploration well has reached a total depth of 4.374m encountering an important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130m of high quality hydrocarbonbearing sands, it said.

The company added that the find amounts to about 1 trillion cubic feet of gas and 60 million barrels of associated condensate in the deep drilled sequences.

The discovery is part of a drilling campaign planned by the Joint Venture aimed at exploring near-field and deep pool opportunities as immediate time to market opportunities.

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