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Sudan issues South Sudan fresh oil threat

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DARFUR – Sudanese President Omar al-Bashir has threatened to close “forever” an oil pipeline that carries oil from South Sudan to Sudan’s Red Sea coast.

He said on Monday that Sudan will stop the flow of oil if South Sudan supports rebels operating on Sudanese soil, speaking on state TV.

The Sudanese army is fighting a rebel insurgency in at least three regions.

Despite the South’s independence in 2011, tensions over oil and land disputes have continued.

“I now give our brothers in South Sudan a last, last warning that we will shut down the oil pipeline forever if they give any support to the traitors in Darfur, South Kordofan and Blue Nile,” President Bashir said on state television, referring to rebels operating in these regions.

President Omar Hassan Al-Bashir of SudanAn umbrella rebel group called the Sudan Revolutionary Front, SRF, has launched attacks on several towns, briefly occupying the major city of Um Rawaba in central Sudan in April.

The group, which hopes to topple President Bashir’s government, withdrew from Um Rawaba, but held onto the town of Abu Kershola, in the neighbouring oil-rich region of South Kordofan.

SPLM-North rebels joined the Darfuri rebel groups, Jem and two main factions of the Sudan Liberation Army, SLA, to form the Sudan Revolutionary Front last year.

President Bashir delivered his speech live on Sudanese state TV following the army’s announcement that it had recaptured Abu Kershola from the rebels.

“Thank God, Abu Kershola has been liberated,” Defence Minister Abdelrahim Mohamed Hussein said, quoted on state TV.

Meanwhile, a spokesman for the rebels told AFP news agency that the fighters withdrew from Abu Kershola to ease a government blockade on its residents.

Oil disputes
Relations between the two countries have been fraught since 2011, when the South became independent after decades of civil war.

Key issues related to oil production, territorial disputes and border demarcation remain unresolved.

South Sudan took with it nearly three-quarters of Sudan’s oil production when it declared independence. The two sides fell out over how much the South should pay to export its oil through Sudanese pipelines.

At the height of the dispute last year, the South shut down its entire oil output, badly hitting both struggling economies.

Oil started flowing again last month after both sides struck a deal in the Ethiopian capital, Addis Ababa, in March, helping to ease tensions.

They also agreed to withdraw troops from their border area. However, the latest violence has put further strain on relations.

President Bashir warned on Monday that “failure to abide by any agreement will nullify the nine accords” agreed in March.

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Oil

FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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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.

 

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Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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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.

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ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations

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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.

 

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