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Oil spill: Bioremediation technology hits Nigeria

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By Kunle Kalejaye

LAGOS-THE Department of Petroleum Resources, DPR has approved by the, Petroleum Remediation Product, PRP, a bioremediation technology to effectively clean oil spills on land or in the aquatic environment has been introduced into Nigeria market.

PRP is a novel bioremediation technology advanced to mitigate the effect of oil spills that can be applied on any surface structure-sand, rock, standing and running water, wood or concrete, including on dry, wet, hot or cold conditions.

Shell Offers $51 Million to Settle Nigeria Oil SpillsDeveloped by the United State National Aeronautic and Space Agency, NASA for the purpose of degrading petroleum hydrocarbons on water or land and produced by Universal Remediation Inc. PRP is said to be an easy one-step method cleaning up hydrocarbon spills, retuning the site to its original state.

PRP according to reports has been tested and found effective in the Middle East, Mexico, Canada, United State, European countries and other oil industry zones but yet to be tested in Nigeria which has the highest record of oil spills globally.

Professor Sylvester Egwu, founder of Kaku Professional Engineers Ltd said his foundation is working with the Universal Remediation Inc. in the United State to introduce PRP to the Federal Government and oil companies operating in Nigeria.

Explaining to newsmen why Nigeria need to embrace PRP, Prof. Egwu said it is cheap, easy to use and environmental friendly compare to other method of remediation (Dispersants which are toxic) of oil spill sites in Nigeria’s oil rich regions.

“The cost of using PRP for oil clean-up is reasonable as the cost of cleaning one tone of spilled oil in Africa is in average of $3, 163.93,” Prof Egwu said.

He continue; “It is oleophilic (absorbs oil) and hydrophobic (repels water) an absorbent and stimulator of heterotrophic bacterial activity; it is non-corrosive and non-toxic; it is versatile; it can be used in all climatic conditions in swamps, mangroves, rainforests, rocks, water and land.

“It specific gravity is greater than that of the oil and less that of water and therefore floats to prevent oil from reaching other ecotypes. In addition, it has the ability to stimulate massive microbes which is an advantage in overcoming survivability problem inherent in bioremediation.”

Prof. Egwu stressed the PRP enhanced the restoration of the several degraded environment in Niger Delta region and improve the economic wellbeing of the people of the impacted communities by ensuring quick resilience and restoration of the environment that had been badly degraded.

He added that PRP reduces disposal cost of oil contaminated water at spill clean up operations as it separates oil from water and landfill reclamation liability.

“The effect of the application of the new technology will enhance Federal Government efforts at improving the environment and improved investments opportunities in the Niger Delta region,” Prof Egwu added.

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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Oil

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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