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Gulf of Guinea Focus: Week 25


Military Destroys 43 Illegal Refining Sites, Apprehends 32 Oil Thieves
Military Destroys 43 Illegal Refining Sites, Apprehends 32 Oil Thieves

The Defence Headquarters said troops of Operation Delta Safe have in the last one week, discovered and destroyed 43 illegal refining sites and apprehended 32 suspected oil thieves. The Director, Defence Media Operations, Maj.-Gen. Edward Buba, made this known while briefing newsmen on the operations of the Armed Forces of Nigeria in Abuja. Buba said that the feat was achieved in the Niger Delta region of the country. He explained that troops had maintained momentum against the activities of crude oil theives and recovered large quantities of stolen products. He also said the troops recovered 728,360 litres of stolen crude oil, 143,450 litres of illegally refined AGO, 1,100 litres of DPK and 18,750 litres of PMS.


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Oyetola Harps On Public Private Partnership To Develop More Deep-Sea Ports
Oyetola Harps On Public Private Partnership To Develop More Deep-Sea Ports

The Minister for Marine and Blue Economy, Adegboyega Oyetola, has harped on the importance of public-private partnerships (PPPs) to develop more deep-sea ports in the country. He made this known at the 2024 Bussinessday Maritime Conference held at Oriental Hotel, Lagos. He said PPP has helped in advancing port modernization, dredging activities, and the deployment of cutting-edge maritime technology. He explained that there are further plans to advance the sector into the top ranks of the Presidential Enabling Business Environment Council (PEBEC). Oyetola said under his leadership, the Ministry has prioritised strategic reforms to enhance operational efficiency and attract investments which include the implementation of the National Single Window initiative and a port community system to automate port processes.


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Kyari Laments Oil Theft’s Impact on PIA Gains, Calls for Judicial Support to Combat Scourge
Kyari Laments Oil Theft’s Impact on PIA Gains, Calls for Judicial Support to Combat Scourge

Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, lamented that the persistent spate of oil theft and pipeline vandalism had severely undermined the gains of the Petroleum Industry Act (PIA) 2021 for the industry and the economy at large. Kyari called for the creation of a special court to try offences related to crude oil theft and pipeline vandalism, or the granting of accelerated hearing to such cases. Kyari made the assertions in Abuja, at the National Judges Capacity Building Workshop on the Petroleum Industry Act (PIA) 2021, organised by the National Judicial Institute (NJI) and INVESTIN 234..


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MAN Commends Security Agencies over Release of Kidnapped Fouani’s MD
MAN Commends Security Agencies over Release of Kidnapped Fouani’s MD

The Manufacturers Association of Nigeria (MAN) has commended the security agencies for the safe release of Managing Director of the Fouani Group, Mr. Mohamed Fouani and his brothers. This was as the Lagos police command revealed that its operatives rescued the three abducted Fouani brothers. On June 14, three brothers identified as Abbas Fouani, Youssef Fouani, and Amtal Fouani, were reportedly abducted around 6 pm in Lagos. They were kidnapped while returning from their factory by boat. Their company, Fouani Nigeria Ltd, is Nigeria’s sole distributor of LG, Hisense, and Maxi products.


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NUPRC Offers Additional 17 Deep Offshore Oil Assets for Sale, Extends Pre-qualification Deadline
NUPRC Offers Additional 17 Deep Offshore Oil Assets for Sale, Extends Pre-qualification Deadline

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that with the acquisition of additional data on the oil assets up for sale, it was making available an extra 17 deep offshore for bids. In May, the commission had invited investors to bid for 12 oil blocks and seven deep offshore assets in the 2024 marginal licencing round. In an update on the latest licencing round, the Gbenga Komolafe-led organisation stated that it had extended the date for pre-qualification from June 25 to July 5 this year. “Furthermore, in pursuit of the commission’s commitment to derive value from the country’s abundant oil and gas reserves and increase production, the commission has been working assiduously with multi-client companies to undertake more exploratory activities to acquire more data to foster and encourage further investment in the Nigerian upstream sector.


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Tinubu Pushes For International Cooperation On Maritime Security For Blue Economy
Tinubu Pushes For International Cooperation On Maritime Security For Blue Economy

President Bola Ahmed Tinubu has emphasized the importance of international cooperation on maritime security to unlock the vast potential of Africa’s blue economy. The President spoke at the 2024 International Maritime Conference in Lagos, held to commemorate the Nigerian Navy’s 68th anniversary, at the Naval Dockyard Limited, Victoria Island, Lagos. Represented by the Vice President, Kashmi Shettima, the President, acknowledged the transnational nature of maritime threats and the need for greater international collaboration to address them.


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