Oil
U.S. Navy returns seized oil tanker to Libyan authorities
CAIRO – The U.S. Navy handed over to Libyan authorities on Saturday an oil tanker carrying crude that had been loaded at a port controlled by armed rebels in defiance of Tripoli’s government.
The Morning Glory tanker was due to arrive later on Saturday at a government-controlled port after being seized by U.S. commandos and escorted back through international waters by the U.S. Navy, Libyan officials said.
Hours before the handover, at least 16 people were wounded when Libyan rebels occupying three eastern oil ports clashed with troops and attacked an army base, where pro-government forces had been preparing to break the rebel blockade.
Anti-aircraft gunfire and explosions were heard overnight and after dawn on Saturday in Ajdabiya, the hometown of rebel leader Ibrahim Jathran, whose fighters seized the ports last summer to demand a greater share in Libya’s oil resources.
The struggle for control of Libya’s vital petroleum resources is one of the key challenges facing the weak central government, which has still failed to secure the North African country three years after the fall of Muammar Gaddafi.
Brigades of former anti-Gaddafi rebels and militias refuse to disarm and often use armed force or control of oil facilities to make demands on a state whose army is still in training.
U.S. special forces boarded and seized the Morning Glory tanker last Sunday off Cyprus, days after it left Libya with a cargo of crude from one port, Es Sider, occupied by Jathran’s men who had vowed to export oil themselves to resist Tripoli.
“The handover took place in international waters off the coast of Libya, and the Government of Libya and its security forces are now in control of the vessel,” the U.S. embassy said in a statement.
HEADING TO TRIPOLI
The tanker had originally planned to go to Zawiya port from where its crude would be fed into the local refinery, which has been forced to lower its output because of a protest at another oil facility, the El Sharara oilfield, port officials said.
But authorities decided at the last minute to let the ship dock first in the capital Tripoli to let the crew disembark, said Abdullah Rashid, controller at Zawiya port, which is located 55 km (34 miles) west of the capital.
Libya has said its state prosecutor will take legal action against the shipowner, the crew and other parties involved in the attempted sale of its oil.
Rashid said the Morning Glory would arrive late at night at Tripoli port and then continue on Sunday or Monday to Zawiya, though a navy spokesman declined to confirm this.
The Tripoli government gave Jathran a two-week deadline on March 12 to end his port blockade or face a military assault, though analysts say Libya’s nascent armed forces may struggle to carry out that threat.
LANA state news agency said tribal community leaders helped stop the fighting earlier on Saturday between the rebels and Libyan soldiers. But the agency reported 16 people were wounded.
Jathran’s federalist gunmen managed to load crude onto the Morning Glory tanker after months of threats. The ship left port and escaped Libya’s navy, embarrassing Tripoli’s government and prompting parliament to sack Prime Minister Ali Zeidan.
The seizure of the tanker in international waters was a rare boost for the government, which has struggled to end a standoff that has cost the state more than $7 billion in lost revenue.
The three rebel-held ports account for around 700,000 barrels per day of Libya’s oil export capacity, or around half of its total petroleum shipments.
The town where Saturday’s battle broke out, Ajdabiya, is divided between Jathran supporters and those who fear his oil blockade will lead to the collapse of the state.
Tripoli’s government is also stymied by infighting among Islamists, secular parties and tribes that has delayed Libya’s transition to democracy since the fall of Gaddafi, whose one-man rule left few state institutions.
Western governments, which backed NATO’s air strikes to help the 2011 anti-Gaddafi revolt, are training Libya’s armed forces and are pressing the factions to reach a political settlement.
The Nigerian National Petroleum Company Limited (NNPC) has unveiled a bold strategy to reduce methane emissions in the oil and gas sector by 60% by 2031, with an ultimate goal of achieving net-zero emissions by 2060.
This announcement reinforces Nigeria’s leadership role under the Global Methane Pledge initiative and its commitment to tackling climate change.
The Group Chief Executive Officer of NNPC, Mele Kyari, disclosed these plans during a meeting on Thursday with Robert Leahman, the U.S. State Department’s Global Methane Program Manager, and a delegation from Deloitte.
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The discussions, held at the NNPC Towers in Abuja, focused on collaborative efforts to reduce methane emissions through innovative and sustainable practices.
“Reducing methane emissions is not just an environmental necessity but also a strategic imperative for Nigeria’s energy transition. We are leveraging partnerships to adopt global best practices and innovative solutions,” Kyari stated.
Key among these efforts is a pilot project in the Niger Delta, aimed at establishing emissions baselines, mitigating methane leaks, and promoting sustainable operations across Nigeria’s energy sector.
The project, a partnership between NNPC, Deloitte, and the U.S. Bureau of Energy Resources, will utilize data-driven methodologies to pinpoint and address methane hotspots.
Robert Leahman commended Nigeria’s proactive stance, describing it as a benchmark for other nations on the continent.
“Nigeria’s leadership under the Global Methane Pledge sets a standard for the continent. These initiatives will not only help reduce emissions but also drive sustainable development in the energy sector,” he said.
Kyari highlighted the broader benefits of addressing methane emissions, noting its significance for both environmental protection and economic efficiency.
“This collaboration is a game-changer. By addressing methane leaks, we’re reducing waste, saving costs, and protecting the environment. It’s a win-win for our economy and the planet,” he added.
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.
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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