Business
Minister Reassures On Reduction Of Gas Flaring
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke has said government would reduce gas flaring from 11 per cent to two per cent in 2014.
The minister said this at the on-going 13th Nigerian Oil and Gas Conference in Abuja.
She said that currently, the ministry had reduced gas flaring to less than 11 per cent as against 30 per cent in 2010 which she said was still not adequate.
“This year’s conference gives us great opportunity to discuss and address the oil and gas business, challenges and government’s plan to the sector in the next five years.
“The Ministry of Petroleum had played a critical role in transforming the oil and gas sector which has been the primary objective of the ministry.”
“The oil and gas sector had witnessed tremendous renewal performance level in the last three years under the leadership of President Goodluck Jonathan, which has placed the industry in better development.”
Alison-Madueke said that in the upstream sector, the ministry had continued over the last 12 months to maintain its production of 2.4 million barrel per day.
She said that gas production in the country had also increased from 6.3 billion standard cubic feet per day (SCF) to 7.8 billion SCF per day in 2012.
“The initiative to grow the Nigeria Petroleum Development Company (NPDC) to medium seize of Oil and Gas Company over the last couple of years had been done in an aggressive manner.
“It has been very difficult to put in place, but we have put in place a robust and aggressive issue in trying to support the national oil company in the way and manner we did,” she added.
The minister said that in spite of being accused of selling the country’s oil blocks, it had signed NNPC equity over to NPDC.
“I think that it’s worth it, if government is not prepared to stand up and put their money where their mouth is, to ensure that certain national assets and entities are supported with full government behind it, we will not move forward.
“By supporting the NPDC in the last two year, we have managed to increase the company production from 50,000 barrels per day that we met to 140,000 barrels per day in 2012,” she said.
The minister said that the effect meant that it would increase over the next two years.
Alison-Madueke said that funding of gas infrastructure initiative had to be through appropriation “which is not sustainable.”
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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