Business
Mobil Oil Field Attack: Workers Appeal For Enhanced Security
Oil workers at the Qua Iboe crude export terminal operated by Mobil Producing Nigeria have expressed concern for their safety following last week’s attack on the facility.
In separate interviews with newsmen, the workers appealed to the security agencies to beef up security to ensure uninterrupted oil production.
“The place of oil in our economy is central and the Federal Government should use its might to protect its investment in the sector.
“This is because once there is any disruption, it will be difficult for the government to meet its revenue target from the oil sector,” Peter Oduok, an engineer at the terminal, said.
The attack, according to a statement from the firm, led to the abduction of a worker and left a security man injured.
The Tide correspndent reports that security has been tightened around Mobil oil blocs in the Atlantic Ocean after the attack by unidentified gunmen.
It was gathered that the offshore unit of Petroleum and Natural Gas Senior Staff Association of Nigeria has scheduled a meeting to discuss the safety of the workforce at the oil field.
Its Chairman, Mr Jude Nwaogu, told newsmen on Monday that although the abducted person was not a member of the association, the union was concerned about the safety of its members.
“The development is of concern to us because security is all embracing and we are monitoring the situation closely to ensure that our people out there are not endangered.
“Our offshore unit is meeting to review the situation and assure our members that there is adequate security,” Nwaogu said.
Sources at the oil fields said the gunmen shot and wounded a naval officer on board MV Igbere, which was supplying diesel to Idoho oil production platform, about 18km from Ibeno shoreline.
The incident did not disrupt production at the 900,000 barrels per day export facility.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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