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(Nigeria) The Federal Government is determined to deepen local content and reduce importation of products we could produce locally, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB),  Engr. Simbi Kesiye Wabote, has said. Wabote spoke on behalf of the agency and the Minister of State for Petroleum Resources, Chief Timipre Sylva at the groundbreaking of the ERASKON 64,000 Litres/ Day Lubricant  and Chemical Blending plant and product Launch ceremony in Gbarain, Yenagoa Bayelsa state. ERASKON Nigeria Limited is an arm of  the ERASKOP  industrial and infrastructure conglomerate which includes  Erasko Energy Limited  and Eraskorp FPSL.  According to Wabote, Nigeria currently consumes about 250million liters of engine oils per annum and this consumption grows at more than 5% every year due to the addition of new vehicles and machineries. He however regretted that “The in-country blending capacity has remained constant at about 150 million liters

(Nigeria) A Magistrate Court sitting in Port Harcourt, Rivers State on Tuesday,  struck out in its entirety, the criminal charges earlier preferred against the Nigerian Liquefied Natural Gas Limited, NLNG, its former Managing Director, Mr. Tony Attah and General Counsel, Mr. Akachukwu Nwokedi. The Chief Magistrate, Blessing Vick-Jumbo, agreed with the defendants that the complaint failed to satisfy Section 89(5) of the Administration of Criminal Justice Law of Rivers State, which stipulated that there had to first be a police investigation before the court could deal with private prosecution and consequently truck out the charges. An indigenous vendor of Nigeria LNG Ltd, Macobarb International Ltd and its Managing Director, Mr. Ogboru Shedrack, had initiated criminal proceedings against NLNG and its aforementioned officers through private prosecution, alleging the offence of obtaining by false pretense against the three. NLNG and its staff had filed an objection to the suit on th

*President Muhammadu Buhari (Nigeria) Socio-Economic Rights and Accountability Project, SERAP, has urged President Muhammadu Buhari to “direct the Attorney General of the Federation and Minister of Justice Mr Abubakar Malami, SAN, and appropriate anti-corruption agencies to probe the spending on the country’s four refineries, and alleged corruption and mismanagement of public money budgeted for the rehabilitation, operation, and maintenance of the refineries since 1999.” SERAP said, “Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any mismanaged public funds should be fully recovered.” SERAP also urged President Buhari to “direct Mr Malami and appropriate anti-corruption agencies to bring to justice those suspected to be responsible for the importation and distribution of dirty fuel into the country, and to urgently identify and ensure access to justice and effective remedies to affected victims.” In the letter

(Nigeria) The Aiteo Eastern Exploration and Production Company said it has put off the oil spillage from the wellhead in Nembe Local Government Areas of Bayelsa State. The wellhead blew up on November 5, 2021, in the Santa Barbara South field in Nembe, blasting water, gas and oil in the area. The Governor of Bayelsa State, Douye Diri, had expressed displeasure on the high volume of crude oil being spilt continuously to many more communities and its effect on the economic life of residents but the oil company said it was working to address the problem. However, in a statement on Wednesday, the company said it had eventually put a stop to the spillage while other secondary activities would be carried out on the wellhead. The statement read in part, “To the glory Of God, we have put out the leak at SBAS-1.  We are grateful for all the support. We have successfully installed control packages on both arms, rig up pump on the long string and pump open the ball valve.  “We have closed both co

(Nigeria) President of the Senate, Ahmad Lawan, has called on the Federal Government through its relevant agencies to penalise indigenous oil companies responsible for the devastation of host communities where they operate. Lawan made the call in his concluding remarks after the Senate considered a motion on “the extremely urgent need to stop the continuous crude oil and gas blow out spill at Santa Barbara well 1, OML 29 operated by AITEO Eastern Exploration and Production Company Limited in Opu Nembe, Bayelsa State.” The motion was sponsored by Senator Biobarakuma Degi-Eremienyo (Bayelsa East). The lawmaker,  while coming under order 42 and 52 of the Senate Rules, noted with concern the continuous gushing and spewing of oil and gas into the waterways and mangrove vegetation of Opu Nembe area of Bayelsa state, from a long sealed, non producing oil well 1, Santa Barbara OML 29 belonging to AITEO Eastern Exploration and Production Company Limited. “Worried that even though same o

(Nigeria) A Well Control Specialist, Victor Ekpenyong working on the site of the Santa Barbara oil spill in Nembe, Bayelsa, yesterday disputed that at least two million barrels of crude oil had been discharged into the environment in the area. The facility currently under well control situation due to what Aiteo, described as “wellhead vandalism” by unknown persons was reported on November 5, 2021, and is currently being worked on by wild well control experts, to arrest the source of leak and secure the well. Ekpenyong stated that the well was last known to be producing about 700bpd of hydrocarbon fluid and would as of yesterday, had spilled an estimated volume of about 18,000bpd of hydrocarbon fluid to the environment as against the two million barrels of oil he said was wrongly reported. According to the expert, the operator, Aiteo Eastern E&P Company deserves commendation for being very active in containing the spill since it started, by immediately informing all regulator

L-R: Country Chair and Managing Director, Shell Petroleum Development Company, Mr. Osagie Okunbor, Bayelsa State Governor, Senator Douye Diri and the Executive Secretary, Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote, during the opening of the 2021 Practical Nigerian Content Conference at NCDMB headquarters in Yenagoa on Tuesday. (Nigeria) Bayelsa State Governor, Senator Douye Diri, has restated the significance of the road from Nembe to the Brass Island in Brass Local Government Areas of the state to the country's economy. Governor Diri restated this on Tuesday while declaring open the 10th Practical Nigerian Content Conference with the theme “Driving the Nigeria Content in the Dawn of Petroleum Industry Act.” The three-day conference is organised by the Nigerian Content Development and Monitoring Board, NCDMB, at its headquarters in Yenagoa. The governor re-echoed his call to the Federal Government following President Muhammadu Buhari's Executive

(Nigeria) A Federal High Court sitting in Lagos has restrained Shebah Exploration and Production Company Ltd, Sheban Petroleum Development Company Ltd and Dr Ambrosie Orjiako and persons acting on their behalf from withdrawing from the accounts of nine other defendants and 29 banks. Trial judge, Justice Yellin Bogoro made the interim order while granting ex parte Mareva application applied for by Zenith Bank Plc through its counsel, Mr Kemi Balogun, SAN, in the matter of an alleged $78,426,578.64 debt. The injunction restrained the trio and their proxies in Nigeria, the United States of America, the United Kingdom, the United Arab Emirates, Switzerland, the European Union and any jurisdiction worldwide, pending the hearing and determination of Zenith’s motion on notice. The 4th to 9th respondents are Seplat Petroleum Development Plc; Zebra Energy Nigeria Ltd; Glencore U.K Ltd; Abbey Court Energy Service Ltd; Neimeth Pharmaceutical International Plc; All Trustees, Proxies, Agents,

*Tanker drivers (Nigeria) The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has suspended its plan to withdraw the services of Petroleum Tanker Drivers earlier scheduled to commence midnight of October 10, 2021, over bad roads across the country, following an understanding reached with the management of Nigerian National Petroleum Corporation, NNPC. NUPENG President, William Akporeha and Afolabi Olawale, General Secretary in a statement, Sunday, said: “The leadership of NUPENG hereby announced the suspension of the intended withdrawal of the services of Petroleum Tanker Drivers earlier scheduled to commence midnight of Sunday,  October 10, 2021, following the understanding reached with the Union by the management of NNPC at a meeting held in Ibadan, Oyo State, today, October 10, 2021, and the expected outcome of the follow up meeting that is scheduled to hold on October 12, 2021, in Abuja as contained in the communique issued today. “The suspension of our planned acti

*Nigerian Senate (Nigeria) The Senate on Tuesday considered the Electricity Bill, 2021, which seeks to consolidate all legislations in the power sector into one electricity statute, with the ultimate aim of improving Nigeria’s power generation capacity. The bill which scaled second reading during plenary was sponsored by Senator Gabriel Suswam (PDP, Benue North-East). If passed into law, the bill would diversify the power sector to accommodate cleaner renewable energy sources, as well as boost investment from private sector participation. Leading debate on the bill, Suswam explained that the bill seeks to, among other reasons, repeal the Electricity Power Sector Reform Act, 2005, consolidate all legislations in Nigerian Electricity Supply Industry, NESI, and enact an omnibus Electricity Act for the industry to provide the ideal legal and institutional framework to guide the post-privatization phase of the industry in Nigeria. He recalled that the Electric Power Sector Reform Act, 2005,

*Senate President, Ahmad Lawan (Nigeria) Nigerian Senate President, Ahmad Lawan, has forwarded President Muhammadu Buhari’s nominees into the board of the Economic and Financial Crimes Commission, EFCC, to the Committee on Anti-Corruption and Financial Crimes for screening. Also forwarded were the names of appointees into the newly established Boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) and Upstream Regulatory Commission (URC) to the Committees on Petroleum (Downstream) and (Upstream), respectively.  The nominees were referred to the relevant committees for legislative action on Wednesday during the start of plenary proceedings, following the receipt of three separate requests from the President  to that effect. The upper chamber on Tuesday received a request from President Muhammadu Buhari to confirm the nominees as Members of the Board of the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The President in another le

(Nigeria) Following up on President Muhammadu Buhari’s recent announcement of the declaration of N287billion,  Profit After Tax, PAT, in year 2020 by the Nigerian National Petroleum Corporation, NNPC, the Corporation has consolidated on the remarkable achievement, by publishing the Audited Financial Statements, AFS, on its official website. It will be recalled that while announcing the outstanding feat a little over a fortnight ago, President Buhari, who is also the Minister of Petroleum Resources, in a statement by Group General Manager, Group Public Affairs Division, NNPC, Garba Muhammad, said: "I have further directed the Nigerian National Petroleum Corporation to timely publish the Audited Financial Statements in line with the requirements of the law and as follow up to our commitment to ensuring transparency and accountability by public institutions." In compliance with the President's directive, the NNPC has fulfilled this very important statutory requirement by

(Nigeria) BAYELSA State government and the Nigerian Content Development and Monitoring Board, NCDMB, have entered into a purchase agreement to ensure regular power supply to the Government House complex in Yenagoa and environs. NCDMB operates a 10-megawatt gas-powered independent plant located at Elebele in Ogbia Local Government Area of the state. At the signing ceremony in Government House, Wednesday, Governor Douye Diri described power as crucial to the development of any society. He noted that the state was blessed with abundant gas resources, which had been largely under-utilised. He stressed that his administration was determined to use the resources of the state for the benefit of the people. The governor in a statement said the importance of power cannot be over-emphasised as it has the capacity to improve the economic fortunes of any society. Diri appreciated the  NCDMB management and other partners that made the agreement possible, saying it was a sign of good thi

(Nigeria) In fulfillment of an earlier pledge by the Federal Government to publicly announce the financial position of the Nigerian National Petroleum Corporation, NNPC,  President Muhammadu Buhari has disclosed a net profit, first time in the 44-year history of the establishment. According to the President, who doubles as Minister for Petroleum Resources in a statement by Special Adviser to the President, Media and Publicity, Femi Adesina on Thursday, “I am pleased to announce the declaration of Profit after Tax of N287 billion in Year 2020 by the NNPC. This is sequel to the completion of the statutory Annual Audit exercise for Year 2020. “The NNPC losses were reduced from N803 billion in year 2018 to N1.7 billion in year 2019 and the eventual declaration of Net Profit in Year 2020 for the first time in its 44-year history. “This development is consistent with this administration’s commitment to ensuring prudent management of resources and maximization of value for the Nigerian

(Nigeria) The Ovie of Kingdom, HRM Dr Emmanuel Sideso, Abe 1, has bemoaned the failure of successive administrations of the federal government in solving the problems of energy generation and distribution in the country. The monarch, who spoke on Monday during the courtesy visit of the Branch Manager of Benin Electricity Distribution Company, BEDC, PTI District, noted that BEDC often charged consumers for services not rendered. "Acquisition of electric prepaid metres is not the solution to the problem of electricity distribution; consumers should be charged for the services rendered." While responding to the issue of safety on structures built under high tension wires raised by the vising branch manager, the traditional ruler stated that the law should take its course. He called for the demolition of structures built under high tension wires and prosecution of owners of such structures in Uvwie Local Government Area. Earlier, the Branch Manager of BEDC, Mr Batholome

Vice President Yemi Osinbajo, SAN, delivers remarks at the Sahara Energy Group's  25th Anniversary Conference.   The passage of the Petroleum Industry Bill, as well as Nigeria’s gas initiatives, will help transform Nigeria into a gas-based industrialized nation and also create a better-managed petroleum industry with more value addition for both investors and Nigerians alike, according to Vice President Yemi Osinbajo, SAN. Osinbajo stated this today in his remarks delivered at a virtual event to commemorate the 25th anniversary of Sahara (Energy) Group. It will be recalled that President Muhammadu Buhari signed the Petroleum Industry Bill 2021 into law last week, and has also approved a steering committee to oversee the process of implementation of the newly signed Petroleum Industry Act, PIA. Also, the gas initiatives of the Federal Government include the drive to encourage investments in gas production and optimize the nation’s enormous gas potential.  In addition, Comp

*Governor Hope Uzodimma of Imo State (Nigeria) Governor Hope Uzodimma of Imo State has commended President Muhammadu Buhari for the courage to ensure that the Petroleum Industry Bill is passed into law. He said that by assenting to the Bill, the President succeeded in breaking the jinx of the old 1969 Petroleum Act begging for amendment over the years. Speaking in a live programme on Channels Television Tuesday, Governor Uzodimma also congratulated members of 9th National Assembly for working hard to ensure that the PIB eventually becomes a law. "I am excited over the Petroleum Act. I commend the NASS and President Buhari for a job well done, and particularly Mr President for breaking the jinx of the 1969 Petroleum Act as enacted," the Governor said. Uzodimma listed the gains of the Petroleum Act to include regulation of environmental hazards, creation of room for value addition to oil bearing communities and the oil companies, and generally, the ability to engender a

*Senate President, Ahmad Lawan (Nigeria) President of the Senate, Ahmad Lawan on Wednesday gave an insight at what the National Assembly did to get the much awaited Petroleum Industry Bill, PIB, passed and eventually signed into law by President Muhammadu Buhari on Monday. Lawan narrated the strategy adopted by the ninth Assembly while answering questions from journalists shortly after a brief ceremony at the Presidential Villa where the President announced the setting up of an implementation Committee for the new law. The Senate President said: "Everyone knows that the Petroleum Industry Bill suffered a lot of hiccups in the National Assembly previously but when we came in 2019, both Chambers identified the passage of the PIB as one very strong, fundamental, critical and strategic bill that we must pass within the life cycle of this ninth National Assembly. "And by the Grace of God we redefined the way to go about it because we would have learnt from the mistakes of th

*Governor Hope Uzodimma of Imo State (Nigeria) Governor Hope Uzodimma of Imo State has directed the arrest and possibly, prosecution of persons or group of persons masquerading as members of security  taskforce on Petroleum Matters in the State. Chief Press Secretary/Media Adviser to Governor,  Oguwike Nwachuku in a statement on Sunday, said: “The Commissioner of Police, Imo State, Abutu Yaro, has been mandated to arrest such persons or group of persons and ensure that they face the  full weight of the law for claiming what they are not, including claiming to be working for the government. “For the avoidance of doubt, Governor Uzodimma has not constituted any such security taskforce and views the activities of such persons or group of persons involved as inimical to his vision which includes to ensure that things are done properly and within the ambits of the law. “The Governor reiterates that there is no such security taskfoce on Petroleum Matters set up by him yet with terms of

(Nigeria) Oando Plc and Securities and Stock Exchange Commission, SEC, have reached a final settlement following a four-year long dispute. The settlement is a win for the Capital Market, specifically shareholders of the company who have been the hardest hit, especially in light of the nature of challenges the country has been faced with; including an unprecedented pandemic, volatility in oil prices which forms a mainstay of the nation’s economy; an increase in the unemployment rate, inflation, poverty and insecurity, as well as a fall in the country’s ranking on the ease of doing business index. In a statement by the SEC, it indicates that the company reached a settlement with the Commission on July 15, 2021, without accepting or denying liability.  Furthermore the settlement includes the immediate withdrawal of all legal actions filed by the Company and all affected directors; payment of a monetary sum, an undertaking by the Company to implement corporate governance improvements a