Oil & Gas
Stakeholders Commend Kyari’s Reappointment, Urge Implementation of Gas Policy
Some stakeholders in the oil and gas industry have commended the reappointment of Malam Mele Kyari as the head of the National Petroleum Company Ltd. (NNPCL).
They gave the commendation in separate interviews on Tuesday in Lagos, while calling for full implementation of gas policy.
Reports says that President Bola Tinubu on Monday reappointed Mele Kyari as the Group Chief Executive Officer (GCEO) of the NNPCL
Tinubu also approved the appointment of a new board and management team for NNPCL with effect from Dec.
1.Mr Ajibola Oyebamiji, a former President of Nigerian Association of Petroleum Explorationists (NAPE), urged Kyari to make the refineries work.
Oyebamiji advised the NNPCL boss to use his reappointment to increase production, implement gas policy, grant incentives for gas exploration and also encourage local gas utilisation.
According to him, the GCEO’s reappointment is a welcome development and a cheering news for the oil and gas industry.
“He is a round peg in a round hole. For stability of the industry and implementation of the ongoing reforms policies, it is well-deserved.
“He will help maintain and implement the deregulation agenda of President Bola Tinubu’s government and especially bring to fruition the revival of the refineries,” he added.
Also, Dr Emeka Akabogu, Executive Vice Chairman, OTL Africa Downstream, said “Kyari’s reappointment is probably pragmatic, in view of the continuing transitional status of NNPCL into full private sector operations.”
Akabogu said that Kyari had obviously worked hard on this project, and the need to ensure organisational stability is important.
On expectations, he said: “I hope that he consolidates on building a strong and viable national oil company that can compete on equal terms with others locally and internationally.
“He also needs to ensure NNPCL begins to subject itself to strict competition rules, particularly in competing with local operators in the downstream value chain, ” he said.
NAN reports that the NNPCL board consists of Chief Pius Akinyelure, Non-Executive Board Chairman; Kyari as the Group Chief Executive Officer; Alhaji Umar Ajiya, Chief Financial Officer; and Mr Ledum Mitee, Non-Executive Director.
Others include Mr Musa Tumsa, Mr Ghali Muhammad, Prof. Mustapha Aliyu, Mr David Ogbodo, and Ms Eunice Thomas as Non-Executive Directors. (NAN)
Energy and Power
Oil, Electricity Workers’ Unions Mobilise for Planned Strike
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed its members to comply with the directive of the two labour centres to begin an indefinite nationwide strike on Monday.
Its General Secretary, Mr Afolabi Olawale, in a statement on Saturday, said the union was committed to ensuring total compliance with the directive.
Recall that the Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) declared an indefinite nationwide strike to begin on Monday, to express their grievances over the proposed new minimum wage.
.In a joint statement signed by NLC President, Mr Joe Ajaero and TUC President, Mr Festus Osifo, the centres declared the strike over the tripartite committee’s inability to agree on a new minimum wage and the hike in electricity tariff.
Afolabi said the union was concerned and disturbed with the insensitive attitude of the federal government “to the very critical issue of negotiating a new minimum wage for Nigerian workers”.
“This is in view of the various socio- economic policies of this administration that have impoverished the working people of this country.
“Leaders of our great union at all levels, from the units, zones and branches, should immediately put all processes in place to ensure total compliance with this directive.”
Also, the National Union of Electricity Employees (NUEE) said it was mobilising its members to embark on the strike following the directive of NLC and TUC.
The Acting. General Secretary, Mr Dominic Igwebike, gave the directive to the members in a statement.
Igwebike said that along with the reasons of inconclusive negotiations on the minimum wage and electricity tariff hike, apartheid categorisation of Nigeria electricity consumers into bands was another, to embark on the strike.
“Given the above, all national, state, and chapter executives are requested to start the mobilisation of our members in total compliance with this directive to ensure the government does the right thing as stated above.
“The withdrawal of services becomes effective on Sunday 2nd June by 12.00 midnight, “ the union leader said. (NAN)
COVER
Oil Theft: Navy Impound Three barges, Arrest Seven Suspects in Bayelsa
The Nigerian Navy has impounded three barges laden with suspected stolen crude oil and refined Automotive Gas Oil (AGO) ,arresting seven, at Tunu Community Creek, in Ekeremor Local Government Area of Bayelsa.
The Commander, Nigerian Navy Ship (NNS) SOROH, Commodore Nanmar Lakan told the News Agency of Nigeria (NAN) on Saturday that his command received an intelligence report on the illegal activities going on in the area and swung into action.
NAN reports that the seven suspects who were found on board the barges who claimed to be security working under Tunu leadership are kept under custody pending when the investigation is concluded.
According to Lakan, Shell Petroleum Development Company (SPDC) has complained of the loss of 25 percent of their daily production in the area to oil thieves.
He said he swung into action by sending his men on both air and water surveillance in the area and their efforts paid off as the barges were impounded by his officers and men.
According to the Commander, two of the barges have the capacities of containing 637,000 litres of the products each while the third can contain 700,000 litres of the products.
Lakan added that investigation is ongoing to ascertain the owners of the barges and where the products were meant to be discharged.
He warned those who indulge in such illegal activities of oil theft to desist from such illegitimate business, as the Nigerian Navy will not allow them to find peace. (NAN)
Business News
Tinubu Inaugurates Critical Gas Projects, Reassures Energy Sector Investors
By Matthew Dadiya, Abuja
President Bola Tinubu has reassured investors in the energy sector of his administration’s resolve to further enhance the business environment and ensure investment convenience.
The President spoke Wednesday at the inauguration of three milestone projects, including the expanded AHL Gas Processing Plant; the ANOH Gas Processing Plant, and the 23.
3km ANOH – Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline.In a speech during the virtual inauguration of the projects at the State House, Tinubu also assured citizens that his administration is stepping up its coordination of other landmark projects and initiatives that will ensure the earliest realization of gas-fueled prosperity in the country.
The President, according to a statement by Special Adviser on Media and Publicity, Ajuri Ngelale, noted that the projects were fully in line with the Decade of Gas Initiative and his administration’s vision to grow value from the nation’s abundant gas assets, while concurrently eliminating gas flaring and accelerating industrialization.
“This event is highly significant to our country as it demonstrates the administration’s concerted efforts to accelerate the development of critical gas infrastructure geared at significantly enhancing the supply of energy to boost industrial growth and create employment opportunities.
“It is pleasing that when these projects become fully operational, approximately 500MMscf of gas in aggregate will be supplied to the domestic market from these two gas processing plants, which represents over 25% incremental growth in gas supply.
“In practical terms, this is more gas to the power sector, gas-based industries, and other critical segments of the economy. I, therefore, commend the strategic vision of the NNPC Limited and its partners, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) and Seplat Energy Plc, for this laudable and value-adding projects,” President Tinubu said.
The President said his government remains determined in its bid to leverage the nation’s vast gas capacity to drive economic growth.
“Aside from the presidential CNG initiative which is aimed at moving the good people of Nigeria away from petrol and diesel as vehicular combustion fuel, significant progress has also been recorded in incentivizing gas development through Presidential Directives.
“The theme of this inauguration – ‘From Gas to Prosperity; Renewed Hope’, must be adopted by all gas-sector participants and would-be investors as a clarion call to ramp up efforts to accelerate investment and developments of projects in the gas sector on a win-win basis.
“I would once again commend the efforts of NNPC Ltd, alongside SEEPCO and Seplat Energy, on this business partnership initiative, and congratulate you all on the successful implementation of the three projects,” the President said.
President Tinubu also reiterated his government’s resolve to continue to provide support in deepening domestic gas utilization, increase national power generation capacity, revitalize industries, and create multiple job opportunities for economic growth.
“Today, I have the singular honour to inaugurate the expansion of the AHL Gas Processing Plant, the ANOH Gas Processing Plant, and the 23.3Km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline Projects in line with my administration’s resolve to provide energy for Nigerians, and to use our vast natural gas resources to transform Nigeria,” the President stated.
May 15, 2024