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NAOC Commissions Projects In Bayelsa

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In compliance to the agreed Memorandum of  Understating with its host communities, the Nigeria Agip Oil Company (NAOC) and its joint venture partners have respectively. Commissioned a six classroom block in Abuetor Community in Sagbama Local Government Area and a community Town Hall in Ologoama community in Nembe Local Government Area of Bayelsa State.

In his remark while commissioning the projects during the week, NAOC General Manager, District, Giovanri Salvini, represented by the Public Relations Communication and Government Laison Manager, Prince Nwachuku Obi, said that the projects are true testimony of company’s willingness to improve the general living standard of the host communities.

He recalled that last year, NAOC respectively commissioned Okugbe Isoko Health Centre / Doctors and Nurses quarters in Osifo community, while in Okoroma clan, it commissioned 2 kilometer road and drains in Ologoama, Akakumama and Dorgu Ewoama communities of the clan.

According to him, “this exercise is not limited to the respective communities, we have over the past eight months, covered more than forty communities within the land and swamp Areas of our operational states of Beyalsa, Rivers, Delta and Imo.

He maintained that in order to empower the host communities, the contracts are awarded to indigenous contractors, advising them not to abandon projects awarded them, so as not to stall the developmental efforts of the company.

Prince Obi urged the respective communities to maintain the existing cordial relationship to enable the business environment continue to thrive.

Speaking, the Bayelsa State Ministry of Environment representative, Director, Ezekiel Adike, lauded    Agip for its magnanimity and commended the various communities for maintaining peace in the area, as well as protecting the oil facilities   sited in their domain.

He warned that any attempt to interrupt  oil operations in the community will not only hamper progress in the area but will also affect the revenue allocation of the state and inturn  show down the pace of development in the rural areas and  the state in general.

Earlier in their address, the President-General of Abuetor community, Chief Lawrence  Agwor thanked Nigerian Agip Oil Company and its joint venture for their commitment toward the realisation of the six-class room block project for and the government’s preparedness to take over the school.

He appealed to NAOC to expedite action on  the supply of science equipment and provision of mini-water scheme for effective take off of the school.

He called  on the government to complement NAOC’s efforts by providing hostels, teachers quarters and other necessary amenities. The President demanded  that NAOC should as a matter  of priority separate the new MOU between  the Abuetor, Osifo and Osekwenike communities, in order to fostering peace and unity among the sister communities.

Similarly  the CDC chairman of Ologoama, Edler Willis Obiene, in an address, expressed his appreciation over the electrification, Health Centre,  Concrete landing jetty/roads and water scheme projects already commissioned  in the area by Agip as well as the town hall project.

The chairman Ologoama council of Chiefs, Chief Ohikakpan expressed his gratitude over the kind gesture of NAOC, describing Agip as the only visible government in action in Ologoama.

He enjoined the community to encourage the company to site more developmental projects  by ensuring that peace and tranquillity  reigns so as to create enabling environment for NAOC  smooth oil operations to thrive.

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Oil & Energy

AEDC Confirms Workforce Shake-up …..Says It’ll Ensure Better Service Delivery

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The Abuja Electricity Distribution Company(AEDC) has announced a major restructuring exercise as part of efforts to reposition the utility firm for improved service delivery, operational excellence, and stronger customer focus.
In a statement issued by the AEDC management late last Thursday, the company said the move aligned with its ongoing corporate transformation strategy designed to make AEDC more agile, innovative, and customer-centric.

As part of the restructuring, the company said it had promoted high-performing employees, released retiring staff, and disengaged others whose performance fell below expected standards.

It added that it has also begun implementing a comprehensive employee development and customer management plan to strengthen its service delivery framework.

“In line with its corporate transformation strategy, Abuja Electricity Distribution Company has announced a restructuring exercise aimed at delivering improved services to its customers as well as enhanced operational efficiency and excellence.

“The restructuring is in line with our strategic direction to become a more responsive and efficient organisation, capable of delivering world-class service to our customers.

“As part of the transformation, the Company has promoted high-performing staff, released retiring employees and those performing below par, and has put in motion the implementation of a robust employee development and customer management plan aimed at driving AEDC’s customer-centric focus,” the company said.

AEDC noted that the reforms are part of its broader commitment to provide reliable, safe, and sustainable electricity to customers across its franchise areas, including the Federal Capital Territory and the states of Niger, Kogi, and Nasarawa.

The firm further pledged to continue investing in infrastructure upgrades, digital technologies, and operational innovations to improve service reliability and customer satisfaction.

“With a strong commitment to delighting its customers, AEDC continues to contribute to the growth and development of Nigeria’s energy sector through investments in infrastructure, innovative technologies, and sustainable practices.

“AEDC consistently seeks to improve the quality of life for its customers, promote efficient energy usage, and actively engage with its communities,” the statement added.

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Oil & Energy

Economic Prosperity: OPEC Sues For Increase In Local Crude Oil Refining 

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The Chairman of the Organisation of the Petroleum Exporting Countries (OPEC) Board of Governors, Ademola Adeyemi-Bero, has advised local oil refiners in Nigeria to increase in-country refining of crude, noting that value creation for crude oil will support economic growth and development.
Adeyemi- Bero who gave the urge at the Nigerian Association of Petroleum Explorationists Pre-Conference Workshop in Lagos, insisted the country must move away from decades of crude exports and focus on retaining value within the local economy.
He said, “We’ve been an oil and gas exporting country. We produced oil; once there was oil, we put it in a tank and sent it abroad. 40 or 50 years later, people blame Shell and others, but I don’t. They are businesses looking for feedstock for their industrialisation. If you give it to them, they’ll still take it.”
Adeyemi-Bero, who is also the Chief Executive Officer of First Exploration & Petroleum Development Company, said Nigeria had a responsibility to develop its energy resources locally and use them to drive industrial growth, rather than depend on foreign markets, adding that President Bola Tinubu would have returned fuel subsidies if the Dangote refinery had not been there to produce fuel locally.
”Just look at the impact the Dangote refinery has had on foreign exchange and gross domestic product growth. You can imagine what would have happened if that had occurred 50 years ago. If the president had said, ‘I’m cancelling subsidies, and I’m not going to allow multiple exchange rates.’ We didn’t have the option of having petroleum products in this country; I’m sure he would have changed his policies and gone back to subsidies. It’s as simple as that. Let’s not over-aggregate.
He continued, “If you go to Saudi Arabia today, if you go to the UAE, if you go to Qatar, if you go to Malaysia, if you go to Brazil, they are expanding the value chain and keeping it in their space. Now, one man built a refinery; we fought him, we argued with him. But the impact of that Dangote refinery on our GDP and foreign exchange is big.”
According to him, local refining and crude utilisation would also help stabilise the naira and strengthen the nation’s economy.
“If we can sell some oil in naira, let’s do it if it works for both parties. The strength of the naira is what it commands in trade. This is why nobody wants the naira outside this space, but the day you can pay for oil in naira because both parties agree, it strengthens the naira,” he said.
Adeyemi-Bero stressed that Nigeria must deliberately reduce its dependence on exports and focus on value creation to avoid future economic decline.
“We need to decline exports. All of us like to sell, but the person who will buy from us will be willing to buy at the right price. ‘I’m investing in dollars, so don’t come and buy in naira. If I invest in dollars, then pay me in dollars.’ But we could make that happen,” he stated.
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Oil & Energy

Senate Seeks Mandate To Track, Trace, Recover Stolen Crude Oil Proceeds

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The Senate Ad-hoc Committee on Oil Theft and Sabotage, has sought for an expanded mandate to track, trace, and recover stolen crude oil proceeds both locally and internationally.
Chairman of the committee, Ned Nwoko, made the call while speaking with newsmen, on the progress made so far by the committee, in Abuja, last Thursday.

Nwoko who is also the Senator representing Delta North Senatorial District, said that forensic reviews show over S22b, S81b and S200b remained unaccounted for across different audit periods.

“This is a national call to action. Nigeria cannot afford to continue losing trillions to corruption, inefficiency, and criminal networks.

“I remain committed, alongside my colleagues, to ensuring accountability, recovery, and reform within the oil and gas sector.

Nwoko stated that the Committee had earlier presented its interim report before the senate saying “Our investigation has so far uncovered massive revenue losses amounting to over $300 billion in unaccounted crude oil proceeds over the years.

“This represents one of the most troubling cases of economic sabotage our nation has ever faced.

“We have made far-reaching recommendations to end this long-standing menace.

“There is need for strict enforcement of international crude oil measurement standards at all production and export points.

He urged the federal government to mandate the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to deploy modern, tamper-proof measuring technology or return this function to the Department of Weights and Measures under the Ministry of Industry, Trade, and Investment.

The senator called for the deployment of advanced surveillance systems, including drones, to assist security agencies in combating oil theft.

He also called for the creation of a Special Court for Crude Oil Theft to ensure swift prosecution of offenders and their collaborators, saying it would also go a long way in tackling the challenge.

“We must also ensure the full implementation of the Host Communities Development Trust Fund under the Petroleum Industry Act (PIA) to empower local communities and reduce sabotage.

“Ceding abandoned oil wells to the NUPRC for allocation to modular refineries to support local production and job creation is also very vital in fighting the menace of oil theft and sabotage,” Nwoko further said.

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