NLNG Archives - Inside Business Africa

May272020 by Joshua OlotuNo Comments

PETAN restates need for local content, lauds NLNG’s Train 7 stakeholders

Energy

The Petroleum Technology Association of Nigeria (PETAN) has commended the signing of the engineering, procurement, and construction (EPC) contract for Train 7 with the SCD Joint Venture Consortium with Saipem, Chiyoda, and Daewoo by the Nigeria LNG. According to the PETAN chairman, Nik Odinuwe in a chat with journalists, the trio of Minister of State for Petroleum Resources, Timipre Sylva, the Group Managing Director of the Nigerian National Petroleum Corporation and a director on the NLNG board, Mele Kyari; and the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, have demonstrated conclusively that they possess the vision, foresight, capacity and leadership skills to successfully guide and manage the Nigerian Oil and Gas Industry in a time o...

Again, unions advocate NLNG model for refineries resuscitation

Business

With refineries underperforming and recording recurring losses, advocacy groups in the oil and gas industry have urged the Federal Government to apply the Nigeria Liquefied Natural Gas (NLNG) ownership and operating model to resuscitate the nation’s refineries. According to them, the success of the NLNG model is a pointer to ways the country can maximise the country’s national assets. They argued that the lack of significant investment in the petroleum industry continues to limit the overall contribution of the sector to economic growth and development. NLNG is an incorporated Joint Venture owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings Franc...

Civil society group seek policy guideline on deregulation of downstream sector

Business

A coalition of civil society groups has called for defined processes and regulatory guidelines to support the removal of fuel subsidy in Nigeria, as being claimed. The coalition, led by Civil Society Legislative Advocacy Centre (CISLAC); Media Initiative for Transparency in Extractive Industries (MITEI); BudgIT; Spaces for Change (S4C); and Youth Forum of Extractive Industry Transparency Initiative (EITI), said regulatory guidelines by the Presidency will give the policy an official seal of affirmation to all and industry operators. They also declared their support for the privatisation of the country’s refineries in their present condition to avoid further revenue losses. They added: “We suggest the adoption of a transparent merit based model for privatisation by either consider...