Oil
Fresh oil spill hit Bayelsa communities, pollutes Taylor Creek
YENAGOA: Communities in the downstream of the Taylor creek traversing Bayelsa communities in Yenagoa local government area have been hit by a fresh oil spill from a Shell Petroleum Development Company (SPDC) facility.
The latest incident, it was learnt, occurred from a spill site three hours after it was clamped by SPDC personnel.
A source told Biztellers, “about three hours after Shell clamped and left, the clamped spot re-erupted resulting in the massive spill we are now witnessing.”
It was gathered that the latest spill, which occurred at Shell site at Biseni has impacted the Taylor Creek which serves JK4, Betterland, Ikarama and Kalaba communities.
Though the cause of the initial spills had been a subject of disagreement between the company and the community folks, while the locals were convinced that some of the spill points were traceable to equipment failure the company blamed sabotage for the spills.
Environment Rights Action team led by Comrade Alagoa Morris who visited the area to monitor the spill on receiving distress call from JK4, Betterland, Ikarama and Kalaba in relation to the crude oil slick noticed on the Taylor Creek were reportedly arrested by soldiers at the spill site.
They were however release after about 30 minutes of alleged intimidation by the arms bearing soldiers.
“I was surprised when Shell used the JTF to intimidate me and my colleagues, including the driver of the hired taxi and a member of the family that own the land when the spill happened. They should allow us do our legitimate job while they do theirs.
“We were on a public road and not on Shell’s facility. I wonder why we should be harassed like that at gun point,” Morris, ERA Field Officer in Bayelsa told Biztellers.
But when contacted, the SPDC which expressed concern over the spate of spills in the Biseni blamed the latest incident on sabotage.
The SPDC through its Spokesman, Precious Okolobo said the spill was caused by unknown persons who tampered with a previously clamped flow line adding that this year alone between April 9 and 29, five spills all caused by sabotage had been recorded in the area.
He said, ”SPDC is worried by the recent increase in the spate of spills in the Biseni area, caused by oil theft and sabotage of flowlines. Between 9 and 29th April this year, we recorded five spills all caused by sabotage. Joint Investigation Visits comprising NOSDRA, DPR, the community, SPDC and security agencies discovered that the spills were caused by hacksaw cuts to the flowlines. Cleanup of residual impacted area is planned for later in the year.
“Yesterday, (22 May) it was observed that unknown persons had tampered with a previously clamped flowline resulting in a spill. A Joint Investigation Visit is planned for the site. SPDC is very concerned about these sabotage spills because of the negative impact on the people and the environment.
“In 2011, SPDC set up a website www.shellnigeria.com/spills that captures all spills, sabotage and operational, and information on all the incidents under reference are fully listed there. This is the only such website in Nigeria, and we believe the initiative brings a new level of transparency in spills reporting in the Niger Delta.”
Oil
FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry
In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.
The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.
The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.
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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.
The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.
This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.
These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.
The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.
Business
Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative
By Yemie Adeoye
NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.
The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.
“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”
The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.
“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.
Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.
Oil
ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations
As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.
Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”
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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.
Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.
We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.
“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.
On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.