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  •   Africa emits less than 1 of global carbon Osinbajo Africa emits less than 1 of global carbon Osinbajo Carbon By Chijioke Okoronkwo Abuja Sept 22 22 Vice President Yemi Osinbajo says African countries account for less than one per cent of cumulative global carbon emissions Osinbajo disclosed this in his keynote address at the 60th Anniversary Dinner of the Oil Producers Trade Section OPTS of the Lagos Chamber of Commerce and Industry LCCI on Thursday in Lagos The OPTS is a sub group of LCCI which is the umbrella association of oil and gas companies who have come together to promote their common interests Osinbajo who spoke on the topic Nigeria Transitioning to Green Energy said that most hostile impacts of climate change on the continent were triggered by activities of wealthier nations The vice president said that most countries including Nigeria agreed that there was need to reduce global emissions to zero in Nigeria s case by 2060 We are major victims of the effects of climate change but there are a few important issues that we have flagged to our wealthier brother countries in the global north The first is that we in the developing world are faced with two not one crisis one is climate change and the other is extreme poverty the cause and consequence of which is energy poverty Or the fact that lack of access to electricity for millions is a cause of deepening poverty The second is that African countries are the least emitters of carbon today less than one per cent of cumulative CO2 emissions and even if we triple electricity consumption in African countries aside from South Africa solely through the use of natural gas this would add just 0 6 per cent to global emissions So a lot of the flooding and adverse weather events that we are experiencing here are from emissions caused by the wealthier countries The vice president said thirdly the defunding of gas projects to force gas rich countries like Nigeria to stop using gas and use renewables instead was faulty According to him the proposals to ban the funding of fossil fuel projects make no distinction between upstream oil and coal exploration and gas power plants for grid balancing He said that no economy in the world had been known to use renewables solely to industrialise as solar power simply did not have the base load capacity yet for industry Fourthly stopping the use of gas means that we cannot use Liquefied Petroleum Gas LPG for clean cooking stoves to replace the use of kerosene firewood and charcoal which are dirtier fuels that are widely used for cooking and other domestic purposes particularly in the rural areas The use of firewood means cutting down trees and of course desertification and then the loss of our carbon sinks The fifth is the double standards that wealthier countries have adopted on this issue Today in the wake of the energy crisis many European nations have made recent announcements to increase or extend their use of coal fired power generation through 2023 and potentially beyond This is in violation of their climate commitments and analysis suggests that this will raise power sector emissions of the EU by 4 per cent a significant amount given the high base denominator of EU emissions Osinbajo said that the sixth and perhaps most crucial point was that Nigeria must take quick and informed actions in its national interest He said that the country must take the threat of no investments in fossil fuels including gas seriously For an example many European and other global North countries are setting aggressive targets for use of electric vehicles and the banning of combustion engine vehicles Soon there may be only a few countries using combustion engines it is also evident that while the Russia Ukrainian war has shown the hypocrisy in not allowing public funding for fossil fuel projects the wealthier nations are still of the view that this is the correct policy and that even if public funding is to be allowed financing should not go beyond 2035 So far our response has been the Energy Transition Plan a comprehensive data driven and evidence based plan designed to deal with the twin crises of climate change and energy poverty We anchored the plan on key objectives including lifting 100 million people out of poverty in a decade driving economic growth bringing modern energy services to the full population and managing the expected long term job loss in the oil sector due to global decarbonisation he said He said that the plan recognised the role natural gas must play in the short term to facilitate the establishment of base load energy capacity and address the nation s clean cooking deficit in the form of LPG The vice president urged the private sector to step up its participation in the transition to green energy journey Earlier in his opening remarks Dr Micheal Olawale Cole the President LCCI said The OPTS was one of the outstanding members of the LCCI Represented by LCCI s Vice President Mr Gabriel Idohosa Olawale Cole said that OPTS had grown into an elite in the industry He said that LCCI was happy to lead OPTS s for the passage of the Petroleum Industry Bill and then for the implementation of the Petroleum Industry Act The LCCI boss also submitted that fuel subsidy should be removed as it was not sustainable The highlight of the event was the handing over of plaques to former chairmen of OPTS by the vice president NewsSourceCredit NAN
    Africa emits less than 1% of global carbon—Osinbajo
      Africa emits less than 1 of global carbon Osinbajo Africa emits less than 1 of global carbon Osinbajo Carbon By Chijioke Okoronkwo Abuja Sept 22 22 Vice President Yemi Osinbajo says African countries account for less than one per cent of cumulative global carbon emissions Osinbajo disclosed this in his keynote address at the 60th Anniversary Dinner of the Oil Producers Trade Section OPTS of the Lagos Chamber of Commerce and Industry LCCI on Thursday in Lagos The OPTS is a sub group of LCCI which is the umbrella association of oil and gas companies who have come together to promote their common interests Osinbajo who spoke on the topic Nigeria Transitioning to Green Energy said that most hostile impacts of climate change on the continent were triggered by activities of wealthier nations The vice president said that most countries including Nigeria agreed that there was need to reduce global emissions to zero in Nigeria s case by 2060 We are major victims of the effects of climate change but there are a few important issues that we have flagged to our wealthier brother countries in the global north The first is that we in the developing world are faced with two not one crisis one is climate change and the other is extreme poverty the cause and consequence of which is energy poverty Or the fact that lack of access to electricity for millions is a cause of deepening poverty The second is that African countries are the least emitters of carbon today less than one per cent of cumulative CO2 emissions and even if we triple electricity consumption in African countries aside from South Africa solely through the use of natural gas this would add just 0 6 per cent to global emissions So a lot of the flooding and adverse weather events that we are experiencing here are from emissions caused by the wealthier countries The vice president said thirdly the defunding of gas projects to force gas rich countries like Nigeria to stop using gas and use renewables instead was faulty According to him the proposals to ban the funding of fossil fuel projects make no distinction between upstream oil and coal exploration and gas power plants for grid balancing He said that no economy in the world had been known to use renewables solely to industrialise as solar power simply did not have the base load capacity yet for industry Fourthly stopping the use of gas means that we cannot use Liquefied Petroleum Gas LPG for clean cooking stoves to replace the use of kerosene firewood and charcoal which are dirtier fuels that are widely used for cooking and other domestic purposes particularly in the rural areas The use of firewood means cutting down trees and of course desertification and then the loss of our carbon sinks The fifth is the double standards that wealthier countries have adopted on this issue Today in the wake of the energy crisis many European nations have made recent announcements to increase or extend their use of coal fired power generation through 2023 and potentially beyond This is in violation of their climate commitments and analysis suggests that this will raise power sector emissions of the EU by 4 per cent a significant amount given the high base denominator of EU emissions Osinbajo said that the sixth and perhaps most crucial point was that Nigeria must take quick and informed actions in its national interest He said that the country must take the threat of no investments in fossil fuels including gas seriously For an example many European and other global North countries are setting aggressive targets for use of electric vehicles and the banning of combustion engine vehicles Soon there may be only a few countries using combustion engines it is also evident that while the Russia Ukrainian war has shown the hypocrisy in not allowing public funding for fossil fuel projects the wealthier nations are still of the view that this is the correct policy and that even if public funding is to be allowed financing should not go beyond 2035 So far our response has been the Energy Transition Plan a comprehensive data driven and evidence based plan designed to deal with the twin crises of climate change and energy poverty We anchored the plan on key objectives including lifting 100 million people out of poverty in a decade driving economic growth bringing modern energy services to the full population and managing the expected long term job loss in the oil sector due to global decarbonisation he said He said that the plan recognised the role natural gas must play in the short term to facilitate the establishment of base load energy capacity and address the nation s clean cooking deficit in the form of LPG The vice president urged the private sector to step up its participation in the transition to green energy journey Earlier in his opening remarks Dr Micheal Olawale Cole the President LCCI said The OPTS was one of the outstanding members of the LCCI Represented by LCCI s Vice President Mr Gabriel Idohosa Olawale Cole said that OPTS had grown into an elite in the industry He said that LCCI was happy to lead OPTS s for the passage of the Petroleum Industry Bill and then for the implementation of the Petroleum Industry Act The LCCI boss also submitted that fuel subsidy should be removed as it was not sustainable The highlight of the event was the handing over of plaques to former chairmen of OPTS by the vice president NewsSourceCredit NAN
    Africa emits less than 1% of global carbon—Osinbajo
    Environment1 week ago

    Africa emits less than 1% of global carbon—Osinbajo

    Africa emits less than 1% of global carbon—Osinbajo Africa emits less than 1% of global carbon—Osinbajo Carbon By Chijioke Okoronkwo Abuja, Sept. 22, 22 Vice President Yemi Osinbajo says African countries account for less than one per cent of cumulative global carbon emissions.

    Osinbajo disclosed this in his keynote address at the 60th Anniversary Dinner of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) on Thursday in Lagos.

    The OPTS is a sub group of LCCI, which is the umbrella association of oil and gas companies who have come together to promote their common interests.

    Osinbajo, who spoke on the topic: `Nigeria Transitioning to Green Energy,’ said that most hostile impacts of climate change on the continent were triggered by activities of wealthier nations.

    The vice president said that most countries including Nigeria agreed that there was need to reduce global emissions to zero in Nigeria’s case by 2060. “ We are major victims of the effects of climate change, but there are a few important issues that we have flagged to our wealthier brother-countries in the global north.

    “The first is that we, in the developing world are faced with two, not one crisis; one is climate change and the other is extreme poverty, the cause and consequence of which is energy poverty.

    “Or the fact that lack of access to electricity for millions is a cause of deepening poverty.

    “The second is that African countries are the least emitters of carbon today – less than one per cent of cumulative CO2 emissions and even if we triple electricity consumption in African countries (aside from South Africa) solely through the use of natural gas this would add just 0.6 per cent to global emissions.

    “So, a lot of the flooding and adverse weather events that we are experiencing here are from emissions caused by the wealthier countries.

    ’’ The vice president said thirdly, the defunding of gas projects  to force gas rich countries like Nigeria to stop using gas and use renewables instead was faulty.

    According to him, the proposals to ban the funding of fossil fuel projects make no distinction between upstream oil and coal exploration and gas power plants for grid balancing.

    He said that no economy in the world had been known to use renewables solely to industrialise as solar power simply did not have the base load capacity yet for industry.

    “Fourthly, stopping the use of gas means that we cannot use Liquefied Petroleum Gas(LPG) for clean cooking stoves to replace the use of kerosene, firewood and charcoal which are dirtier fuels that are widely used for cooking and other domestic purposes, particularly in the rural areas.

    “ The use of firewood means cutting down trees and of course desertification and then the loss of our carbon sinks.

    `The fifth is the double standards that wealthier countries have adopted on this issue.

    “Today in the wake of the energy crisis, many European nations have made recent announcements to increase or extend their use of coal fired power generation through 2023, and potentially beyond.

    “ This is in violation of their climate commitments, and analysis suggests that this will raise power sector emissions of the EU by 4 per cent — a significant amount given the high base denominator of EU emissions.

    ’’ Osinbajo said that the sixth and perhaps most crucial point was that Nigeria must take quick and informed actions in its national interest.

    He said that the country must take the threat of no investments in fossil fuels including gas seriously.

    “For an example, many European and other global North countries are setting aggressive targets for use of electric vehicles and the banning of combustion engine vehicles.

    “ Soon there may be only a few countries using combustion engines; it is also evident that while the Russia- Ukrainian war has shown the hypocrisy in not allowing public funding for fossil fuel projects, the wealthier nations are still of the view that this is the correct policy and that even if public funding is to be allowed financing should not go beyond 2035. “So far our response has been the Energy Transition Plan–a comprehensive, data-driven and evidence-based plan, designed to deal with the twin crises of climate change and energy poverty.

    “ We anchored the plan on key objectives, including lifting 100 million people out of poverty in a decade, driving economic growth, bringing modern energy services to the full population and managing the expected long-term job loss in the oil sector due to global decarbonisation,’’  he said.

    He said that the plan recognised the role  natural gas must play in the short term to facilitate the establishment of base load energy capacity and address the nation’s clean cooking deficit in the form of LPG.

    The vice president urged the private sector to step up its participation in the transition to green energy journey.

    Earlier in his opening remarks, Dr Micheal-Olawale-Cole, the President, LCCI, said The OPTS was one of the outstanding members of the LCCI.

    Represented by LCCI’s Vice President, Mr Gabriel Idohosa, Olawale-Cole said that OPTS had grown into an elite in the industry.

    He said that LCCI was happy to lead OPTS’s for the passage of the Petroleum Industry Bill and then for the implementation of the Petroleum Industry Act. The LCCI boss also submitted that fuel subsidy should be removed as it was not sustainable.

    The highlight of the event was the handing over of plaques to former chairmen of OPTS by the vice president.


    NewsSourceCredit: NAN

  •  Chief Timipre Sylva Minister of State for Petroleum Resources says there are about 265 illegal refineries in the Shell Petroleum Development Company SPDC corridor alone as Nigeria continues to grapple with oil theft The News Agency of Nigeria reports that Sylva spoke at the 60th Anniversary of the Oil Producers Trade Section OPTS of the Lagos Chamber of Commerce and Industry LCCI on Thursday in Lagos The minister represented by Mr Kamaru Busari Acting Permanent Secretary Ministry of Petroleum Resources said vandalism and oil theft had resulted in Nigeria producing less than one million barrels of crude oil per day Sylva said the country s inability to meet its Organisation of the Petroleum Exporting Countries OPEC quota had deprived it of the much needed oil revenue when oil prices were very high in the international market He said nevertheless the government was engaging host communities security agencies and deploying technology to address the issue in order to boost investors confidence in the sector On his part Malam Mele Kyari Group Chief Executive Officer Nigerian National Petroleum Company Ltd NNPCL said the company was not unmindful of the current challenges particularly security in the operational areas and cash call arrears settlement Kyari represented by Mr Dapo Segun Deputy General Manager Treasury NNPCL however maintained that the company was resilient and would work with other stakeholders to overcome the security challenges He said We have deployed creative solutions to tackle security challenges in the operational areas Technological intervention for both monitoring and prompt intervention would also be set up The tackling of the menace is a top priority for NNPCL Also our new governance framework provides us autonomy and opportunity for self accounting hence cash call settlement including arrears would be settled and handled promptly going forward Earlier in his address of welcome Mr Rick Kennedy Chairman OPTS said OPTS had made significant contributions to the development of the Nigerian oil and gas industry over the past 60 years Kennedy represented by Mr Osagie Okunbor Vice Chairman OPTS said OPTS members had demonstrated resilience and commitment in the face of economic security environmental and funding challenges He said We have continued to make significant contributions to Nigeria s development As a group OPTS member companies account about 90 per cent of Nigeria oil production and contributes significantly to the domestic and export gas production and supply Over the last decade OPTS member companies accounted for 40 60 per cent of government revenue and 85 to 95 per cent of export earnings OPTS member companies are also proud to have paid tens of billions of dollars in taxes levies royalties rents and license fees to the Nigerian government Kennedy who is also the Managing Director Chevron Africa Business Unit said the OPTS companies had also created over 600 000 direct and indirect jobs for Nigerians Also Mr Bunmi Toyobo Executive Director OPTS thanked the 29 companies who were members of the OPTS for their contributions to its achievements in the past 60 years This celebration is to demonstrate our abiding faith in Nigeria as a group and belief in the boundless growth potential of our country given the enabling environment he said NewsSourceCredit NAN
    265 illegal refineries in SPDC corridor – Sylva
     Chief Timipre Sylva Minister of State for Petroleum Resources says there are about 265 illegal refineries in the Shell Petroleum Development Company SPDC corridor alone as Nigeria continues to grapple with oil theft The News Agency of Nigeria reports that Sylva spoke at the 60th Anniversary of the Oil Producers Trade Section OPTS of the Lagos Chamber of Commerce and Industry LCCI on Thursday in Lagos The minister represented by Mr Kamaru Busari Acting Permanent Secretary Ministry of Petroleum Resources said vandalism and oil theft had resulted in Nigeria producing less than one million barrels of crude oil per day Sylva said the country s inability to meet its Organisation of the Petroleum Exporting Countries OPEC quota had deprived it of the much needed oil revenue when oil prices were very high in the international market He said nevertheless the government was engaging host communities security agencies and deploying technology to address the issue in order to boost investors confidence in the sector On his part Malam Mele Kyari Group Chief Executive Officer Nigerian National Petroleum Company Ltd NNPCL said the company was not unmindful of the current challenges particularly security in the operational areas and cash call arrears settlement Kyari represented by Mr Dapo Segun Deputy General Manager Treasury NNPCL however maintained that the company was resilient and would work with other stakeholders to overcome the security challenges He said We have deployed creative solutions to tackle security challenges in the operational areas Technological intervention for both monitoring and prompt intervention would also be set up The tackling of the menace is a top priority for NNPCL Also our new governance framework provides us autonomy and opportunity for self accounting hence cash call settlement including arrears would be settled and handled promptly going forward Earlier in his address of welcome Mr Rick Kennedy Chairman OPTS said OPTS had made significant contributions to the development of the Nigerian oil and gas industry over the past 60 years Kennedy represented by Mr Osagie Okunbor Vice Chairman OPTS said OPTS members had demonstrated resilience and commitment in the face of economic security environmental and funding challenges He said We have continued to make significant contributions to Nigeria s development As a group OPTS member companies account about 90 per cent of Nigeria oil production and contributes significantly to the domestic and export gas production and supply Over the last decade OPTS member companies accounted for 40 60 per cent of government revenue and 85 to 95 per cent of export earnings OPTS member companies are also proud to have paid tens of billions of dollars in taxes levies royalties rents and license fees to the Nigerian government Kennedy who is also the Managing Director Chevron Africa Business Unit said the OPTS companies had also created over 600 000 direct and indirect jobs for Nigerians Also Mr Bunmi Toyobo Executive Director OPTS thanked the 29 companies who were members of the OPTS for their contributions to its achievements in the past 60 years This celebration is to demonstrate our abiding faith in Nigeria as a group and belief in the boundless growth potential of our country given the enabling environment he said NewsSourceCredit NAN
    265 illegal refineries in SPDC corridor – Sylva
    General news1 week ago

    265 illegal refineries in SPDC corridor – Sylva

    Chief Timipre Sylva, Minister of State for Petroleum Resources, says there are about 265 illegal refineries in the Shell Petroleum Development Company (SPDC) corridor alone as Nigeria continues to grapple with oil theft.

    The News Agency of Nigeria reports that Sylva spoke at the 60th Anniversary of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) on Thursday in Lagos.

    The minister, represented by Mr Kamaru Busari, Acting Permanent Secretary, Ministry of Petroleum Resources, said vandalism and oil theft had resulted in Nigeria producing less than one million barrels of crude oil per day.

    Sylva said the country’s inability to meet its Organisation of the Petroleum Exporting Countries (OPEC) quota had deprived it of the much needed oil revenue when oil prices were very high in the international market.

    He said, nevertheless, the government was engaging host communities, security agencies and deploying technology to address the issue in order to boost investors’ confidence in the sector.

    On his part, Malam Mele Kyari, Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), said the company was not unmindful of the current challenges, particularly security in the operational areas and cash call arrears settlement.

    Kyari, represented by Mr Dapo Segun, Deputy General Manager, Treasury, NNPCL, however,  maintained that the company was resilient and would work with other stakeholders to overcome the security challenges.

    He said: “We have deployed creative solutions to tackle security challenges in the operational areas.

    “Technological intervention for both monitoring and prompt intervention would also be set up.

    The tackling of the menace is a top priority for NNPCL.

    “Also, our new governance framework provides us autonomy and opportunity for self-accounting hence cash-call settlement including arrears would be settled and handled promptly going forward.

    ” Earlier in his address of welcome, Mr Rick Kennedy, Chairman OPTS, said OPTS had made significant contributions to the development of the Nigerian oil and gas industry over the past 60 years.

    Kennedy, represented by Mr Osagie Okunbor, Vice Chairman, OPTS, said OPTS members had demonstrated resilience and commitment in the face of economic, security, environmental and funding challenges.

    He said: “We have continued to make significant contributions to Nigeria’s development.

    “As a group, OPTS member companies account about 90 per cent of Nigeria oil production and contributes significantly to the domestic and export gas production and supply.

    “Over the last decade, OPTS member companies accounted for 40-60 per cent of government revenue and 85 to 95 per cent of export earnings.

    “OPTS member companies are also proud to have paid tens of billions of dollars in taxes, levies, royalties, rents, and license fees to the Nigerian government.

    ” Kennedy, who is also the Managing Director, Chevron -Africa Business Unit, said the OPTS companies had also created over 600,000 direct and indirect jobs for Nigerians.

    Also, Mr Bunmi Toyobo, Executive Director,OPTS, thanked the 29 companies who were members of the OPTS for their contributions to its achievements in the past 60 years.

    “This celebration is to demonstrate our abiding faith in Nigeria as a group and belief in the boundless growth potential of our country, given the enabling environment,” he said.


    NewsSourceCredit: NAN

  •  The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo the Secretary General of the Organisation of the Petroleum Exporting Countries OPEC The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 He was buried on Wednesday in Yola Adamawa State in accordance with Islamic rites Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas NOG Award Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company Ltd said Barkindo s demise was a shock to the industry Represented by Mr Adetunji Adeyemi the Group Executive Director Downstream NNPC Kyari prayed God to grant the family the fortitude to bear the loss Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd said the loss was for the family the country Nigeria the oil and gas industry and the world at large Sangster who was represented by Mr Charles Ebereonwu the Country Communications Manager TotalEnergies Nigeria described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest he said Also Mr Rick Kennedy the Chairman Oil Producers Trade Section OPTS described Barkindo as a true giant of the industry Kennedy said the contributions of the departed global energy leader could not be overemphasised adding that his death was a huge loss to the sector On his part Mr Osagie Okunbor the Country Chair Shell Companies in Nigeria said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership adding that he made Nigeria and Nigerians proud on the global stage In his tribute Mr Simbi Wabote the Executive Secretary Nigerian Content Development and Monitoring Board said Barkindo was a role model and someone worthy to be admired He was the icon of our time His death is a great loss to Nigeria God knows best When our time is up there is nothing we can do He has played his part and we can only continue from where he stopped Wabote said NewsSourceCredit NAN
    Nigerian petroleum industry holds night of tributes for Barkindo
     The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo the Secretary General of the Organisation of the Petroleum Exporting Countries OPEC The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 He was buried on Wednesday in Yola Adamawa State in accordance with Islamic rites Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas NOG Award Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company Ltd said Barkindo s demise was a shock to the industry Represented by Mr Adetunji Adeyemi the Group Executive Director Downstream NNPC Kyari prayed God to grant the family the fortitude to bear the loss Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd said the loss was for the family the country Nigeria the oil and gas industry and the world at large Sangster who was represented by Mr Charles Ebereonwu the Country Communications Manager TotalEnergies Nigeria described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest he said Also Mr Rick Kennedy the Chairman Oil Producers Trade Section OPTS described Barkindo as a true giant of the industry Kennedy said the contributions of the departed global energy leader could not be overemphasised adding that his death was a huge loss to the sector On his part Mr Osagie Okunbor the Country Chair Shell Companies in Nigeria said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership adding that he made Nigeria and Nigerians proud on the global stage In his tribute Mr Simbi Wabote the Executive Secretary Nigerian Content Development and Monitoring Board said Barkindo was a role model and someone worthy to be admired He was the icon of our time His death is a great loss to Nigeria God knows best When our time is up there is nothing we can do He has played his part and we can only continue from where he stopped Wabote said NewsSourceCredit NAN
    Nigerian petroleum industry holds night of tributes for Barkindo
    General news3 months ago

    Nigerian petroleum industry holds night of tributes for Barkindo

    The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC).

    The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63.

    He was buried on Wednesday in Yola, Adamawa State, in accordance with Islamic rites.

    Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas (NOG) Award, Mr Mele Kyari, the Group Managing Director, Nigerian National Petroleum Company Ltd., said Barkindo’s demise was a shock to the industry.

    Represented by Mr Adetunji Adeyemi, the Group Executive Director, Downstream, NNPC, Kyari prayed God to grant the family the fortitude to bear the loss.

    Mr Mike Sangster, the Managing Director, TotalEnergies EP Nigeria Ltd., said the loss was for the family, the country Nigeria, the oil and gas industry and the world at large.

    Sangster who was represented by Mr Charles Ebereonwu, the Country Communications Manager, TotalEnergies Nigeria, described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry.

    “All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest,” he said.

    Also, Mr Rick Kennedy, the Chairman, Oil Producers Trade Section (OPTS), described Barkindo as a true giant of the industry.

    Kennedy said the contributions of the departed global energy leader could not be overemphasised, adding that his death was a huge loss to the sector.

    On his part, Mr Osagie Okunbor, the Country Chair, Shell Companies in Nigeria, said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders.

    Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership, adding that he made Nigeria and Nigerians proud on the global stage.

    In his tribute, Mr Simbi Wabote, the Executive Secretary, Nigerian Content Development and Monitoring Board, said Barkindo was a role model and someone worthy to be admired.

    “He was the icon of our time. His death is a great loss to Nigeria. God knows best. When our time is up, there is nothing we can do.

    “He has played his part and we can only continue from where he stopped,” Wabote said.

    NewsSourceCredit: NAN

  •  Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd says crude oil theft has become an organised crime which is costing Nigeria about 10 million daily in accrued revenue Sangster made the disclosure at the Nigerian Oil and Gas NOG conference and exhibition on Wednesday in Abuja The News Agency of Nigeria reports that he spoke during the industry leaders panel session on The Future of Nigeria s Energy Sector in the Petroleum Industry Act PIA Era He noted that the PIA had made provision for the Host Community Trust Fund which was a step in the right direction to empower the local communities and ensure a clear and consistent framework across the industry Sangster said this would not put an immediate end to activities of crude oil thieves and pipeline vandals which had transcended into an organised crime and disrupting the operations of oil and gas companies He said that TotalEnergies had declared a force majeure on its OML 58 and had stopped production since Feb 24 due to the vandalism of its oil and gas infrastructure Sangster said You can see some of the figures in the press I mean maybe it s up to 100 000 barrels per day which is being stolen With crude oil selling even at 100 per barrel that means it s 10 million per day which has been lost and mainly to the country because you know NNPC have 60 per cent of most of the joint ventures and we pay tax at 85 per cent That s a huge loss for the country So I think it really needs to be a priority to look beyond the host communities and how we can address the crude safety and eradicate it once and for all Sangster therefore urged the government and industry stakeholders to find a lasting solution to the issue of vandalism in order to make Nigeria an investment destination for oil and gas companies Also Mr Rick Kennedy the Managing Director Chevron Nigeria Mid Africa Business Unit called the institutionalising of the PIA which would define a clear role for industry stakeholders going forward Kennedy who is also the Chairman Oil Producers Trade Section OPTS said traditional oil and gas businesses had a key role to play in Nigeria s energy transition journey We re going to transition to more and more gas I think that we have all agree with that That s our transition fuel and with time other sources of energy They ll become economic they ll become readily available he said Kennedy said the transition would happen at different pace for different countries adding that Chevron remains committed at present to its traditional oil and gas business NewsSourceCredit NAN
    Nigeria loses m daily to crude oil theft – TotalEnergies MD
     Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd says crude oil theft has become an organised crime which is costing Nigeria about 10 million daily in accrued revenue Sangster made the disclosure at the Nigerian Oil and Gas NOG conference and exhibition on Wednesday in Abuja The News Agency of Nigeria reports that he spoke during the industry leaders panel session on The Future of Nigeria s Energy Sector in the Petroleum Industry Act PIA Era He noted that the PIA had made provision for the Host Community Trust Fund which was a step in the right direction to empower the local communities and ensure a clear and consistent framework across the industry Sangster said this would not put an immediate end to activities of crude oil thieves and pipeline vandals which had transcended into an organised crime and disrupting the operations of oil and gas companies He said that TotalEnergies had declared a force majeure on its OML 58 and had stopped production since Feb 24 due to the vandalism of its oil and gas infrastructure Sangster said You can see some of the figures in the press I mean maybe it s up to 100 000 barrels per day which is being stolen With crude oil selling even at 100 per barrel that means it s 10 million per day which has been lost and mainly to the country because you know NNPC have 60 per cent of most of the joint ventures and we pay tax at 85 per cent That s a huge loss for the country So I think it really needs to be a priority to look beyond the host communities and how we can address the crude safety and eradicate it once and for all Sangster therefore urged the government and industry stakeholders to find a lasting solution to the issue of vandalism in order to make Nigeria an investment destination for oil and gas companies Also Mr Rick Kennedy the Managing Director Chevron Nigeria Mid Africa Business Unit called the institutionalising of the PIA which would define a clear role for industry stakeholders going forward Kennedy who is also the Chairman Oil Producers Trade Section OPTS said traditional oil and gas businesses had a key role to play in Nigeria s energy transition journey We re going to transition to more and more gas I think that we have all agree with that That s our transition fuel and with time other sources of energy They ll become economic they ll become readily available he said Kennedy said the transition would happen at different pace for different countries adding that Chevron remains committed at present to its traditional oil and gas business NewsSourceCredit NAN
    Nigeria loses m daily to crude oil theft – TotalEnergies MD
    General news3 months ago

    Nigeria loses $10m daily to crude oil theft – TotalEnergies MD

    Mr Mike Sangster, the Managing Director, TotalEnergies EP Nigeria Ltd., says crude oil theft has become an organised crime which is costing Nigeria about $10 million daily in accrued revenue.

    Sangster made the disclosure at the Nigerian Oil and Gas (NOG) conference and exhibition on Wednesday in Abuja.

    The News Agency of Nigeria reports that he spoke during the industry leaders panel session on “The Future of Nigeria’s Energy Sector in the Petroleum Industry Act (PIA) Era.”

    He noted that the PIA had made provision for the Host Community Trust Fund which was a step in the right direction to empower the local communities and ensure a clear and consistent framework across the industry.

    Sangster said this would not put an immediate end to activities of crude oil thieves and pipeline vandals which had transcended into an organised crime and disrupting the operations of oil and gas companies.

    He said that TotalEnergies had declared a force majeure on its OML 58 and had stopped production since Feb. 24 due to the vandalism of its oil and gas infrastructure.

    Sangster said: “You can see some of the figures in the press! I mean, maybe it’s up to 100,000 barrels per day, which is being stolen.

    “With crude oil selling even at $100 per barrel, that means it’s $10 million per day, which has been lost and mainly to the country because you know, NNPC have 60 per cent of most of the joint ventures and we pay tax at 85 per cent.

    “That’s a huge loss for the country. So, I think it really needs to be a priority to look beyond the host communities and how we can address the crude safety and eradicate it once and for all.”

    Sangster, therefore, urged the government and industry stakeholders to find a lasting solution to the issue of vandalism in order to make Nigeria an investment destination for oil and gas companies.

    Also, Mr Rick Kennedy, the Managing Director, Chevron Nigeria Mid-Africa Business Unit, called the institutionalising of the PIA which would define a clear role for industry stakeholders going forward.

    Kennedy, who is also the Chairman, Oil Producers Trade Section (OPTS), said traditional oil and gas businesses had a key role to play in Nigeria’s energy transition journey.

    “We’re going to transition to more and more gas. I think that we have all agree with that. That’s our transition fuel and with time, other sources of energy. They’ll become economic, they’ll become readily available,” he said.

    Kennedy said the transition would happen at different pace for different countries, adding that Chevron remains committed at present to its traditional oil and gas business.


    NewsSourceCredit: NAN