DOWNSTREAM OPERATORS WANT CRUDE REFINING POLICY

Stakeholders in the downstream subsector of Nigeria’s petroleum industry have stressed the need for a national refining policy, which defines the framework for encouraging investment in petroleum refining in Nigeria.

 

The stakeholders at the Ninth Oil Trading Logistics Africa Downstream Week 2015 held in Lagos, said the move would facilitate increased national revenue and infrastructure development

 

Read more @ Punch Online

Experts Differ on Buhari’s Plan to Assume Role of Petroleum Minister

President Muhammadu Buhari’s recent declaration that he would oversee the Ministry of Petroleum Resources has stirred diverse reactions from experts in energy law and policy in the country.

Two of the experts, Prof. Yinka Omoriegbe and Jaji Ahmed who spoke recently in Abuja at the public presentation of a book, “Structuring of Innovative Finance Schemes for Petroleum Production in Nigeria: Legal and Tax”, written by Dr. Perisuo Dema shared their divided views on how the president’s decision would impact on Nigeria’s oil and gas industry.

 

Read more @ Thisday Online

 

BUHARI URGED TO UNVEIL POLICY ON OIL THEFT

President Muhammadu Buhari has been urged to urgently unveil a policy direction and action his government will take to eradicate oil theft.

An anti-oil theft initiative, ‘Seal the Crude,’ which made the call in a statement by its Programme Officer, Stephen Hemba, said the problem was no longer ‎tolerable and since it is a recurring issue passed on to the Buhari administration, the President must waste no time in outlining a policy thrust to address it.

Read more @ The Guardian

NAVY HAS ACHIEVED DRASTIC REDUCTION IN CRUDE OIL THEFT – JIBRIN

The Chief of Naval Staff (CNS), Vice Adm. Usman Jibrin, has said that the Nigerian Navy in the last one year has achieved a drastic reduction in crude oil theft.
 

Jibrin who was represented by the Chief of Policy and Plans, Rear Admiral Johnson Olutoyin stated this during the Inter-Denominational Church Service, marking the 59th Anniversary of the Nigerian Navy, at the All Saints Protestant Church, Mogadishu Cantonment, Abuja.
 

Read more @ SweetCrude Reports

NIGERIA: BUHARI CAN CANCEL POWER PRIVATISATION – NERC BOSS

The chairman, Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, has said that there is the possibility that the incoming government of General Muhammadu Buhari can undo the privatisation of the power sector.

Amadi who stated this during an interview in his office in Abuja, in response to the question whether such was possible, said, “Everything is possible; there’s no impossibility with government to, through due process or through extra-legal actions, reverse any policy or decision.”

Read more @ SweetCrude

GOVT’S LETHARGY TRAPS $720BN NIGERIA GAS FINDS

Nigeria’s huge gas finds with an estimated value of $720 billion have been left trapped and unproductive for decades, on account of  lethargy by a government that is unable to create the policy environment to turn this huge resource into prosperity dividend for the country and its people.

Read more @ The Businessday