Business
PIB ’ll Transform Oil And Gas Sector – Minister
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, has said the Petroleum Industry Bill (PIB) currently before the National Assembly will transform the nation’s oil and gas industry when passed into law.
The minister was quoted as saying this at the Africa Energy Summit session during the Cambridge Energy Research Association (CERAWEEK 2013) in Houston, Texas, United States of America.
A statement issued by the Group General Manager, Public Affairs, NNPC, Ms Tumini Green on Friday said that the minister was represented by the Group Executive Director, Exploration and Production, NNPC, Mr Abiye Membere.
“The PIB will ensure the development of our abundant oil and gas reserves, encourage significant infrastructural development and situate the Gas revolution.
“Aside attracting new investors to the nation’s oil and gas industry, the PIB will also ensure that new fiscal regime is put in place to address all issues of equity among stakeholders.”
It noted that the instability in the Niger Delta would be addressed by the PIB and the country’s revenue would be well-managed for a balanced development of the country.
It said that the continued reluctance of the International Oil Companies (IOCs) to sincerely implement in-country capacity building to drive the local content implementation posed a big challenge to the sector.
“If after 50 years of operation in Nigeria, foreign companies are preferred to indigenous companies; it clearly shows that there is a problem. This has to change,” it stated.
The statement decried the non-involvement of host communities in the development of their areas and stressed the need to collaborate with the host communities.
It would be recalled that the bill, which has been generating a lot of controversies recently scaled through second reading at the Senate.
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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