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Rivers Gov Urges Transparency In Community Dev’t Trusts

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Riveers State Governor, Siminalayi Fubara has called for responsible management of funds allocated to Host Communities Development Trusts (HCDT) in the Niger Delta.

The governor made the call at an event to unveil three additional HDCTs by The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC Joint Venture comprising SPDC, the Nigerian National Petroleum Company Limited (NNPC), TotalEnergies Limited and Nigerian Agip Oil Company Limited.

Represented by the state commissioner for Chieftaincy & Community Affairs, Charles Amadi, the governor pointed out that the development in oil producing communities as envisaged in the Petroleum Industry Act (PIA) would only become a reality if those charged with managing the funds put the people first and make themselves accountable.

The HCDT is a creation of the PIA and requires oil exploration companies to allocate three percent of their operating expenditure in the previous year for the development of their host communities.

The three new HCDTs represent the hosts of SPDC JV at its Logistics Base, Akukutoru and TNP-2 areas and bring to 31 the number so far inaugurated by the Joint Venture out of the 33 for all its operations in the Niger Delta.

Gov Fubara said, “I appreciate Shell for your continued support at ensuring the economic growth of the communities.”

Also speaking at the event, Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, acknowledged the challenges of implementing a new legislation like the PIA, noting that SPDC engaged over 300 communities on the provisions of the law and the need for stronger collaboration between SPDC and the communities to ensure the desired growth and development.

Okunbor, who was represented by the HCDT Project Manager, Dr. Alice Ajeh, said, “Ultimately, community development rests on the shoulders of the communities themselves.”

In his remarks, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, commended SPDC’s leading position in the implementation of the HCDT provisions of the PIA and emphasised the importance of fostering sustainable economic development through robust implementation strategies.

“NUPRC, in line with global best practices and in collaboration with relevant stakeholders, has developed robust implementation strategies for the Trusts. This is for the purpose of fostering sustainable economic development of host communities,” the NUPRC chief said through his representative, Chidinma Nwabueze.

Komolafe enjoined the host communities to guarantee seamless oil and gas exploration and production in their respective communities to reap maximum benefits from the trusts.”

In his remark, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, said, “We have high expectations for communities to collaborate with industry stakeholders to achieve peaceful coexistence. The boards of trustees should ensure that there are systems in place to address conflicts or grievances through dialogue that ensures resolutions that are beneficial to all the parties.”

Represented at the event by NUIMS Manager for Stakeholder Relations, Ejidoh Uzo, Wunti said, “I commend the host communities for their prompt utilization of the instruments of the PIA as administered. This is a laudable initiative of Shell that will bring about positive development to the communities.”

Energy

Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide

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MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.

The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.

Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.

ALSO READ: Dangote Slashes PMS Price To N899.50k

It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.

In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM

Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”

In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.

A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.

“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”

A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.

“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.

A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.

According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”

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Energy

FDI: Shell To Invest Billions Of Dollars On Nigeria’s Bonga North Oil Field

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As a direct implication of the Federal Government’s Foreign Direct Investment drive, the Royal Dutch Shell has completed the final investment decision on the deep offshore Bonga North project in Nigeria.

Biztellers reports that the Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest.

Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich, said, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio”.

ALSO READ: OGUNCCIMA Commends Dangote Refinery’s Impact

It was gathered that the Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.

The company is optimistic that the project will sustain oil and gas production at the Bonga facility.

The Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.

In addition, the Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.

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Energy

Chevron Nigeria Bags ‘Energy Company Of The Year For Environmental Sustainability And CSR

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Chevron Nigeria Limited (CNL), has received an award as “Energy company of the year (2024)” for its Environmental Sustainability and Corporate Responsibility accomplishments.

The award presented by the Nigerian News Direct newspaper, on Friday December 6, 2024, and was received by Manager Communications, Chevron Nigeria and Mid-Africa Business Unit, Victor Anyaegbudike, at a colourful event at the Grand Ballroom of the Oriental Hotel, Lagos.

ALSO READ: Stakeholders Hail NCDMB As Local Content Level Hits 56%

The organizers of the award noted that Chevron has implemented the “Protecting People and the Environment” policy, which aims at preventing injuries, illnesses, and environmental incidents. They also referenced that the company has achieved 97% gas flaring reduction in its operations in Nigeria, while implementing waste management and environmental conservation programs.

According to the media organization, Chevron Nigeria has also invested millions of dollars in community development programs, supporting education, health and economic development initiatives that have benefited thousands of people, while ensuring diversity, inclusion, and employee engagement in its business operations.

Receiving the award from the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, Anyaegbudike thanked the organizers for the honour, and reiterated Chevron’s commitment to continue to develop, affordable, reliable and ever-cleaner energy that enables human progress around the world.

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