Oil & Energy

MOMAN Seeks Representation In PIA Implementation Committee

Published

3 years ago

September 13, 2021

The Major Oil Marketers Association of Nigeria, MOMAN, has called on the federal government to also appoint stakeholders in the sector to be part of the PIA implementation committee.
The call was made while presenting its newly appointed Chairman, Olumide Adeosun, CEO, Ardova Plc to newsmen, last week.
Adeosun while presenting his agenda for the Association, said inclusion of stakeholders in the PIA implementation committee, would make for more robust and balanced deliberation as the Act begins its six months gestation period.
“My appointment as Chairman of our respected association commences just as the Petroleum Industry Act has been encoded into law, marking the beginning of a new era for the downstream sector. As an association, this means that we must be at the forefront of unravelling the opportunities that come with operating in the free-market structures that have been created by the PIA, whilst continually advocating for changes that positively impact our industry and the Nigerian economy at large.
“I assure you that MOMAN will continue to be at the fore of both private and public partnership with the government in terms of discussing policies that would move the downstream forward. We enjoin the federal government to also include stakeholders in the sector, including the downstream which we represent, in the implementation committee of the PIA as this would give us the opportunity to make our input,” he said.
Adeosun succeeds Mr. Tunji Oyebanji, CEO, 11 Plc, who was Chairman from 2019-2021. His tenure as Chairman of the Association is with effect from September 01, 2021.
He enjoined the government to move the downstream sector towards full deregulation.
“I feel very privileged for the opportunity to serve as the Chairman of MOMAN in such an exciting time for our industry.
“As a collective, we are at the cusp of new beginnings for the sector and I envisage that as we move towards less price-controlled reality, our journey will make for interesting times,” he said.
His tenure which commenced on September 01, 2021, will run for two years, concluding in September of 2023.
“Making the transition to a fully competitive pricing oriented downstream sector will require the collective engagement and resolve of all stakeholders. I assure you that MOMAN will continue to be at the forefront in bridging the Government and private sector in ensuring that Nigeria has a viable energy sector. We will continue sustained engagement and the creation of initiatives that will make the implementation of this law a shared success for all concerned parties.”
He said the world is changing rapidly and that the oil and gas industry has been proven to be one of the most exposed to the winds of this change.
“The breakout of the Covid-19 pandemic and the ensuing measures designed to curb its spread – lockdowns and work from home – have shaped a new reality that challenges our operating structures. Also, this period of restrained movements has seen much of the world accelerate their drive towards zero or near zero utilisation of hydrocarbon-based energy sources. A clear indication that the days of hydrocarbons might be fewer than we have projected.
“We must adapt and evolve to prevent working wide-eyed into extinction. The gains to be had from operating in a PIA reality must be channeled towards pivoting the way we operate. This is the only way we can remain globally competitive. Our opportunity to make a first step towards this evolution will be found in Liquefied Petroleum Gas (LPG). The Federal Government’s push to increase nationwide usage of gas is commendable and is an initiative we should all support and take advantage of. The benefits to expanding our collective capacity in retailing gas extends beyond immediate additions to our bottom-line, as the impact on our environment, our communities and the larger economy make for a better future for us all,” he said.

Business

Ministers, Oil Industry Leaders, Others To Grace 13th NCDMB’s PNC In Bayelsa

Published

3 days ago

December 2, 2024

The Tide

Nigerian Ministers, industry leaders, stakeholders in the oil and gas industry, and members of both chambers of the National Assembly have been confirmed to be in attendance at the 2024 edition of the annual Practical Nigerian Content (PNC) Conference and Exhibition slated for the first week of December at the Nigerian Content Tower, Yenagoa, Bayelsa State.
The theme of the event is “Deepening the Next Frontier for Nigerian Content Implementation”.
A statement from the Directorate of Corporate Communications and Zonal Coordination of the Nigerian Content Development Management Board (NCDMB) made available to newsmen says that the annual conference and exhibition is a signature event hosted by the Board in partnership with DMG Events.
According to the statement, the 2024 edition of the event will commence today, with a golf tourney at the Henry Seriake Golf and Country Club, Yenagoa and a welcome reception in the evening to be hosted by Coleman Wires and Cables at the newly opened Best Western Hotel, Swali, Yenagoa.
The Tide was also informed that the formal opening ceremony will begin at 9am tomorow with speeches by the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe.
Goodwill messages, according to the Board’s statement, would be delivered by the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, the Chief Executive, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, and the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd, Mr. Mele Kolo Kyari.
Other top officials slated to speak at the 2024 PNC opening ceremony are the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, and their counterpart from the Ministry of Power, Mr. Adebayo Adelabu.
The Chairman, Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan and the Chairman, House of Representatives Committee on Nigerian Content Development and Monitoring, Honourable Boma Goodhead, are also billed to speak at the opening day.
The first panel discussion will analyse “The Next Frontier for Nigerian Content: Divestments and Offshore Opportunities”, and the cast will include the Director, Project Certification and Authorisation, NCDMB, Engr. Abayomi Bamidele, alongside the Chairman, Chevron Nigeria, Mr. Jim Swartz, the Executive Director, TotalEnergies E&P Nigeria, Mr. Obi Imemba, the Group Chief Executive, Oando PLC, Mr. Wale Tinubu, and the Managing Director, Aradel Holdings, Engr. Adegbite Falade.
The second panel will discuss “Evaluating Financial Strategies for Increased Local Content Implementation”.
Some of the discussants will include l; the Secretary General, African Petroleum Producers’ Organisation (APPO), Dr. Omar Farouk Ibrahim; the Managing Director, Bank of Industry (BOI), Dr. Olasupo Olusi; and the Director, Finance & Personnel Management, NCDMB, Ifeanyi Ukoha.
While the second day of the conference will also feature panel discussions on topical industry issues as “Nigerian Content Beyond Borders”, “Nigerian Content from the Grass Roots: Community Capacity Development”, and “From Policy to Practice: Strengthening Domestication for Economic Development”.
Major highlights of the 2024 PNC will include the unveiling of new operational policies by the NCDMB and exhibition of projects and capacities by international and indigenous operating and service oil and gas companies.
Delegates attending this year’s event can also look forward to the gala dinners to be hosted by the Bayelsa State Government on Tuesday, and by the Nigeria LNG Ltd on Wednesday, in addition to the site visit on Thursday morning to the logistics base of First Marine and Engineering Services Ltd located at Swali, Yenagoa.

By: Ariwera Ibibo-Howells, Yenagoa

Oil & Energy

‘Poor Corporate Governance, Bane Of Oil, Gas Industry Growth’

Published

3 days ago

December 2, 2024

The Tide

The Nigerian National Petroleum Company Limited (NNPC) has identified poor corporate governance, transparency and efficiency as affecting operations in Nigeria’s oil and gas industry.
The company, therefore, said it has become imperative for upstream stakeholders in the nation’s oil and gas industry to strengthen their corporate governance structure.
Executive Vice President (EVP), Upstream, Udobong Ntia, made the remark while speaking at the Upstream Governance, Risk and Compliance Workshop, themed: “Enhancing Governance, Risk and Compliance in Nigeria’s Upstream Sector” in Lagos.
Corporate governance challenges in the nation’s oil sector are multifaceted and complex and one major issue is the lack of transparency and accountability in the operations of oil companies, particularly Multinational Corporations (MNCs), the Company observed.
Ntia emphasised that governance, risk management, and compliance were at the heart of NNPC’s ‘core values of integrity, excellence and sustainability’.
The Executive Vice President commended the upstream leadership and regulators for supporting the initiative to assemble stakeholders to discuss issues that have a bearing on individual and collective success towards attaining the clear mandate of sustainably ramping up the nation’s crude oil production.
He also reiterated his readiness to provide enablers within his purview that would accelerate the implementation of initiatives that would enhance governance, risk management and compliance in the upstream sub-sector.
A statement by the Chief Corporate Communications Officer of the company, Olufemi Soneye, said the workshop had in attendance NNPC’s Chief Compliance Officer, Nasir Usman and NNPC’s Chief Upstream Investment Officer, Bala Wunti.
It was also attended by representatives of industry regulators such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC); the Nigerian Content Development and Monitoring Board (NCDMB), and over 20 upstream operators from International Oil Companies (IOCs) in Nigeria.

Oil & Energy

TotalEnergies Plans $750m Gas Project In Nigeria

Published

3 days ago

December 2, 2024

The Tide

Energy giant, TotalEnergies, is set to approve a $750 million gas project in Nigeria next year, indicating potential progress in the country’s bid to attract more investment in its hydrocarbon sector.
The shallow-water project, developed in partnership with a local firm, aims to further enhance gas supply to the Liquefied Natural Gas (LNG) facility.
Senior Vice President of Africa (Exploration and Production) TotalEnergies, Mike Sangster, disclosed this at the France-Nigeria business forum in Paris, Friday.
“We have another dry gas project called Ima, which we hope to sanction next year for about $750 million.
“There’s still more to be done in terms of regulation, simplifying, and accelerating the process, but we have appreciated some of the changes that have been made over the past year.
“They have given us now the incentive or the motivation to go ahead and renew our investments in Nigeria so that we can stop the decline and start to increase production”, Sangster stated.
He advocated for a further easing of local content regulations to attract international contractors with expertise in deep-water projects back to Nigeria, noting that this would foster competition and revive investments that have been suspended.
Earlier this year, TotalEnergies pledged around $500 million to a joint venture with the state-owned Nigerian National Petroleum Company (NNPC) Limited to develop the Ubeta onshore field.
With an expected output of 300 million cubic feet per day, this project is set to strengthen the gas supply to the Nigerian Liquefied Natural Gas (NLNG) plant.