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Rain Oil Boss, Ogbechie, Received Encomiums Over National Honour

Published

6 months ago

October 10, 2022

Rain Oil Boss, Ogbechie, Received Encomiums Over National Honour

Olushola Okunlade Writes

The Executive Assistant on Communications to the Vice Presidential candidate of the Peoples Democratic Party and Governor of Delta State, Dr. Barrister Fred Latimore Oghenesivbe, has described the Group Managing Director of Rainoil Limited, Dr. Gabriel Ogbechie, as an astute businessman, a philanthropist, and patriotic Nigerian.

Oghenesivbe’s assertion was contained in a goodwill message to Ogbechie over his nomination by President Muhammadu Buhari for the national honour of Commander of the Order of the Niger, CON, saying that the Rainoil Boss overcame all hurdles to become one of the main players in the oil and gas sector of the nation’s economy.

He noted that Ogbechie had demonstrated capacity and competence over the years, wherein Rainoil grew consistently to be a major employer of labour, adding that the oil magnate truly deserved the CON honour to be bestowed on him on October 11 by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Muhammadu Buhari, at the International Conference Abuja.

“I rejoice with my friend and Group Managing Director of Rainoil Limited, Dr. Gabriel Ogbechie, who has been nominated for the national honour of the Commander of the Order of the Niger, CON.

“Your enviable and inestimable contributions to the growth of the nation’s economy through Rainoil conglomerate cannot be overemphasized.

“You are indeed a core investor in the oil and gas sector, a philanthropist, and a patriotic Nigerian, who had exhibited a considerable measure of integrity, boardroom skills, capacity, and competence.

“It is my prayer that God continues to expand your coast, grant you longevity and good health to enjoy the fruit of your labour,” Oghenesivbe said.

In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

Ogbechie, who is to be conferred with the Officer of the Order of the Niger (OON) for his contribution to Nigeria’s oil and gas sector, has distinguished himself not only as a dynamic business administrator, innovative director, and technocrat but also shown a high degree of integrity and transparency in both private, religious, and public affairs.

Also, Ogbechie seats on the board of a number of companies operating in the financial services, oil, and gas, agro-allied, and real estate sectors, which include Norsworthy Agro Allied Company Limited, Fynefield Ltd, Eterna Plc, etc.

He has over three decades of cognate experience in the Nigerian oil and gas industry and has also made a strong commitment to the development of sports in Nigeria, by sponsoring of annual Rainoil tennis tournament.

Ogbechie is a graduate of Production Engineering from the University of Benin and began his early career as a factory engineer between 1989 and 1991, and subsequently joined PricewaterhouseCoopers, a leading firm of Chartered Accountants and Management Consultants.

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Related Topics:#energy #nationalhonour #oil&gas #oilandgascompanies #rainoil

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Presidential Election: Keyamo writes SSS, Calls For Arrest, Prosecution Of Peter Obi, Datti Over “End Of Democracy” Comments

Published

3 days ago

March 24, 2023

Business Echo Magazine

Mr. Keyamo said since the declaration of the presidential election results, the LP candidate and his running mate have been hopping from one media house to the other making incendiary comments and claims about the declaration of the President-elect by the Independent National Electoral Commission (INEC).

The Minister of Labour and Employment (State), Festus Keyamo, has written a letter to the State Security Services (SSS) calling for the arrest of the presidential candidate of the Labour Party, Peter Obi, and his running mate, Datti Baba-Ahmed, over their comments on the outcome of the 2023 presidential election.

Mr. Keyamo, who served as the spokesperson of the APC Presidential Campaign Council, in a letter dated 23 March and addressed to the director general of the SSS, accused Messrs Obi and Datti of making incendiary claims on the 25 February election capable of truncating the nation’s democracy.

He stated that the duo was making comments that are capable of causing insurrection against the government and the president-elect, Bola Tinubu.

Mr. Keyamo said since the declaration of the presidential election results, the LP candidate and his running mate have been hopping from one media house to the other making incendiary comments and claims about the declaration of the President-elect by the Independent National Electoral Commission (INEC).

The Independent National Electoral Commission (INEC) had on 1 March declared Asiwaju Bola Ahmed Tinubu of the ruling All Progressives Congress (APC) as the winner of the 25 February presidential election.

Mr. Tinubu polled 8.8 million votes to defeat the candidates of the Peoples Democratic Party (PDP), Atiku Abubakar, and Labour Party, Mr. Peter Obi, who polled 6,984,520 votes and 6,101,533 respectively.

Messrs Atiku and Obi have rejected the outcome of the election and filed separate petitions at the Presidential Election Tribunal.

Mr. Keyamo, in the petition, stated that Messrs Obi and Datti’s recent comment crossed the red line because of the call for “outright truncation of democracy.”

He made reference to the interview granted by Mr. Datti to Channels TV, saying the LP Vice presidential candidate made a comment that threatened Nigeria’s democracy.

“However, it appears the President and Vice-Presidential Candidates of the Labour Party, Mr. Peter Obi and Datti Baba-Ahmed are not prepared to toe this conciliatory path for the sake of peace and national cohesion, whilst exercising their rights to pursue duly laid down constitutional means of addressing their grievances. In this regard, since the declaration of the Presidential election results, they have been hopping from one media house to the other making incendiary comments and claims about the declaration of the President-elect by the Independent National Electoral Commission (INEC).

“These comments and claims are made, not just within the boundaries of exercising their rights to freedom of speech and the freedom to air their grievances publicly, but they have since crossed the line to call for the outright truncation of democracy by insisting on the adoption of other processes outside the contemplation of our Constitution. In some cases, their privies have even called for the establishment of an Interim Government.

“The latest of such are the comments made by Datti Baba-Ahmed on behalf of himself and Mr. Peter Obi on Channels TV on Wednesday, March 22, 2023, wherein he threatened that if the President-Elect is sworn in on May 29th, 2023, it would “signal the end of democracy”. Posing as an accuser, a judge, and a jury all by himself, he unilaterally declared the duly elected President-elect as “unconstitutional” and, in a subliminal manner, threatened mayhem if the President-Elect is sworn in on May 29th, 2023,” he said.

He called on the SSS to invite/arrest, interrogate, and after investigation, if necessary, charge both individuals to court.

Read the full text of Mr. Festus Keyamo’s petition

The Director General,

Department of State Services,

Aso Drive,

Abuja.

Dear Sir,

PETITION AGAINST MR. PETER OBI AND DATTI BABA-AHMED FOR MAKING INCENDIARY COMMENTS AND CLAIMS CAPABLE OF CAUSING AN INSURRECTION OR REBELLION AGAINST THE GOVERNMENT OF NIGERIA AND THE DULY ELECTED PRESIDENT-ELECT.

I write this petition with the full realisation that in a post-election period such as this, there is a need to soothe frayed nerves, lower the temperature and begin the healing process. The President-Elect, Asiwaju Bola Ahmed Tinubu has issued a statement to this effect a few days ago.

However, it appears the President and Vice-Presidential Candidates of the Labour Party, Mr. Peter Obi and Datti Baba-Ahmed are not prepared to toe this conciliatory path for the sake of peace and national cohesion, whilst exercising their rights to pursue duly laid down constitutional means of addressing their grievances. In this regard, since the declaration of the Presidential election results, they have been hopping from one media house to the other making incendiary comments and claims about the declaration of the President-elect by the Independent National Electoral Commission (INEC). These comments and claims are made, not just within the boundaries of exercising their rights to freedom of speech and the freedom to air their grievances publicly, but they have since crossed the line to call for the outright truncation of democracy by insisting on the adoption of other processes outside the contemplation of our Constitution. In some cases, their privies have even called for the establishment of an Interim Government.

The latest of such are the comments made by Datti Baba-Ahmed on behalf of himself and Mr. Peter Obi on Channels TV on Wednesday, March 22, 2023, wherein he threatened that if the President-Elect is sworn in on May 29th, 2023, it would “signal the end of democracy”. Posing as an accuser, a judge, and a jury all by himself, he unilaterally declared the duly elected President-elect as “unconstitutional” and, in a subliminal manner, threatened mayhem if the President-Elect is sworn in on May 29th, 2023.

I also have it on good authority that Mr. Peter Obi and Datti Baba-Ahmed have camped some youths in a popular hotel in Abuja with the sole aim of instructing them to push out inciting messages every day on social media in order to cause panic and fear within the federation and to incite people to riot and social unrest.

It is noteworthy that Peter Obi and Datti Baba-Ahmed have submitted Elections Petitions to the courts for adjudication, but their conducts and utterances amount to subversion of the processes they have instituted in court and a subversion of our Constitution and the laid-down processes for addressing disputes and grievances. These conducts and utterances are a build-up to something more sinister and it is important you rein them in NOW!

In this circumstance, I submit this petition in my personal capacity as a patriotic Nigerian to invite/arrest, interrogate, and after investigation, if necessary, charge both individuals to court for their conduct which amounts to incitement and treasonable felony.

Yours most trusted,

FESTUS KEYAMO, SAN, FCIArb (UK)

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Naira Scarcity: NLC Declares Nationwide Strike, Protests At CBNs’ Offices

Published

4 days ago

March 23, 2023

Business Echo Magazine

Naira Scarcity: NLC Declares Nationwide Strike, Protests At CBNs' Offices

The Nigerian Labour Congress (NLC) on Wednesday officially declared a nationwide strike over the scarcity of cash in the country.

The national president of the union, Joe Ajaero, gave the directive during a media briefing in Abuja.

He also directed that affiliate unions constituting the NLC should be on standby for picketing exercises across all branches of the Central Bank of Nigeria nationwide.

NLC had earlier issued a seven-day ultimatum to the Federal Government to end the petrol and cash scarcity being experienced in the country.

Speaking with journalists, Ajaero said the industrial action became the last resort of the NLC following the expiration of the ultimatum.

He said the decision to picket the CBN branches became necessary as the federal government and the CBN had failed to show any commitment to addressing the situation.

Ajaero lamented that despite the Supreme Court order that the old N200, N500, and N1000 notes remain legal tender until December 31, 2023, the situation kept getting worse.

He said workers could not access cash to pay fares to work nor buy food for their families. He also criticized the pricing irregularities in the petroleum sector.

“Last week, we gave an ultimatum for the review of the cash crunch bedeviling the country, but we have discovered to our dismay that as of this moment, not much effort has been made to ameliorate the situation. Government is still foot-dragging on these issues we raised,” Ajaero said.

“Based on this, we met again this morning to review our position and resolved that by Wednesday next week, all CBN branches will be picketed. Workers are directed to stay at home too because people cannot eat, workers can no longer go to the office, and we have been pushed to the wall.

“We have decided to take our destiny into our hands, we have mobilized our workers on this exercise.”

The NLC has no fewer than 43 affiliate unions which include, but are not limited to, the Academic Staff Union of Universities, the Nigeria Union of Pensioners, and the National Union of Road Transport Workers, among others.

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News

Sanwo-Olu Has Done So Well, Deserves Second Term – Osoba

Published

3 weeks ago

March 6, 2023

Business Echo Magazine

SANWO-OLU TO WOULD-BE INVESTORS: LAGOS READY FOR YOU

…Urges Lagos, residents, to re-elect Governor based on performance, laudable achievements

Olushola Okunlade Writes

Former Governor of Ogun State, Chief Olusegun Osoba, has appealed to all Lagos State residents, especially the electorate to re-elect Governor Babajide Sanwo-Olu in the forthcoming gubernatorial poll, saying the Governor has done so well and deserved to be re-elected.

Speaking during the Journalist Hangout Programme on Television Continental (TVC) on Sunday, Osoba, a renowned journalist and former Editor and Managing Director of Daily Times Newspaper, said Governor Sanwo-Olu has done so much in Lagos State and based on his performance he deserved to be voted for en-masse on Saturday.

Osoba, who expressed his displeasure over the voting pattern against APC in Lagos State, especially at Ikoyi, Eti-Osa Local Government Area during the last presidential elections, urged Lagos residents to redeem themselves by voting for a performing government, saying “Lagos has given so much to all of us, let us pay back by showing gratitude to a Governor (Sanwo-Olu) who I believe has done his best.”

The former Ogun State governor also appealed to Lagos residents, especially youths, Ndigbo in the State, and religious leaders not to allow ethnicity and religion to be a dividing factor in the forthcoming governorship election in Lagos State.

He said: “In Lagos, it hurts me and it gives me sleepless nights when educated people and others voted against APC in Ikoyi for example. Governor Babajide Sanwo-Olu has done so well in Ikoyi. Ikoyi was totally run down; it was almost becoming a slum. And when Sanwo-Olu came in, he did so much renewal in Ikoyi. He has done a lot to fix Glover Road and McPherson Avenue with heavy drainage to address the flooding. He has also worked on Lateef Jakande, McDonald all the way down to Cooper Road, Alexander, and Queen Drive.

“He (Governor Sanwo-Olu) has done so much renewal and yet some of us elites whose property value had gone almost 50 percent voted blindly. I thought we would vote according to performance. Anywhere in the world, you assess a government and vote based on performance. I hope they will redeem their image. How can the Ikoyi voting pattern be against a government that performed?

“They voted against APC. What is their reason? Tunji Bello used to tell me about the efforts they always make to pump water every flooding period to save us from heavy flooding. So, it devises all reasonable logic the way people; educated people voted in Ikoyi for example, where I lived.”

Osoba, who governed Ogun State during the aborted Third Republic and was also elected as the first Ogun State governor in the present Fourth Republic, appealed to all Lagos residents, especially the youths to vote for Governor Sanwo-Olu and APC candidates in the March 11 governorship and House of Assembly elections.

“Why should anybody be looking for a change in Lagos? I have spoken about the assessment and performance of Sanwo-Olu in Ikoyi where I live. This is not hearsay. The monorail that Jakande started was canceled over 40 years ago, he has restored it with the Blue line rail. I can go on and on giving you examples of his performance.

“I went to campaign in Agbado on Friday and when coming back, I google my way to my house, and all throughout Agege and neighbouring areas between Ogun State and Lagos were all dualised. How do you say a man like that should not continue?

“I will urge our people, especially the youths not to make the same mistake that they made in Eti-Osa where they voted blindly out of frustration, which I appreciate. And the President-Elect, Asiwaju Bola Tinubu, told them he will address their frustration.

“I appeal to my Igbo brothers and sisters, don’t let us make this an ethnic issue. Anywhere in the world where ethnicity has become an issue, it becomes destructive. I will plead that the youth, our religious people, and our Igbo brothers and sisters in Lagos should think of the past. Nnamdi Azikwe, the father figure of Igbo land, started all his political life in Lagos. The first Igbo lawyer, Sir Louis Mbanefo went to Methodist Boys High School and King’s College; he had his education in Lagos.

“We have been working together. Let us sustain the relationship. Lagos is the most liberal state in this country. Lagos has given so much to all of us, let us pay back by showing gratitude to a Governor who I believe has done his best,” Osoba appealed.

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