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Crude Oil January 08, 2019 01:30:35 AM

FG Ties Future of Nigeria's Oil Industry to PIB

OilMonster Author
Through the policy, such gas is expected to become available for power generation, petrochemicals and other beneficial uses.
FG Ties Future of Nigeria's Oil Industry to PIB

SEATTLE (Oil Monster): No discussion about the future of the Nigeria’s oil and gas sector can be divorced from the Petroleum Industry Bill (PIB) being worked on, Vice President Yemi Osinbajo has said.

Osinbajo, who spoke recently at the 18th Biennial International Health, Safety and Environment conference on the oil and gas industry in Nigeria, emphasized the resolve of the current administration to work conscientiously with the National Assembly to pass the (PIGB).

Reminding participants that the evolving Host Community Bill represents a paradigm shift from the past, he also echoed the need to tackle insecurity in the Niger Delta to ensure development of the region.

Ibe Kachikwu, the minister of state for Petroleum Resources has said that the Federal Government’s push for increased investments in modular and conventional refineries aims not only to improve availability of refined petroleum, but also to stop the scourge of local unconventional artisanal refineries that has led to massive oil spills and associated environmental impacts.

He spoke at the recent binnual oil and gas conference of the Department of Petroleum Resources, where he said also said one key area of the agenda is the new gas policy, is to incentivise the existing flare-out policy.

Through the policy, he said such gas is expected to become available for power generation, petrochemicals and other beneficial uses.

He also directed the agency to commence the implementation of Progressive Discharge Deterrent Charge and “NO OSP no offshore Travel” policy with effect from January 1st, 2019.

In his address, Dr. Emmanuel Ibe Kachikwu, reiterated the achievements of the Biennial HSE conference since inception in 1979.

He pointed various achievements of the conference which include the popular monthly national Environmental Sanitation Day, which subsists in some parts of the country, establishment of the Federal Environmental Protection Agency (FEPA) and the subsequent establishment of the respective State Environmental Protection Agencies

Speaking, the Director of the Department of Petroleum Resources, Mr. Modecai Ladan, recognised that the industry has come a long way in the development and management of HSE issues associated with Nigeria’s Petroleum Resources.

He reiterated the need to continue to review and improve our commitment to human/facilities safety, health and environmental protection specifically by adopting a more robust stakeholder’s engagement approach.

He reminded delegates that it is pertinent to entrench sustainability into prospecting, drilling, production, transportation and usage of petroleum, as well as management of its wastes; and that the task rests on the shoulders of not only the DPR but all stakeholders.

He enjoined all stakeholders to join the DPR and its parent Ministry of Petroleum Resources in pursuing sustainability of the nation’s oil and gas industry.

Courtesy: www.independent.ng

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