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Nairaland Forum / Nairaland / General / Politics / House Of Reps To Halt IOCs From Selling Oil Assets (5293 Views)
IOCs Selling Crude At $4 Per Barrel Above Market Price — Dangote / Shell To Sell More Oil Assets In Nigeria / Niger Delta Militants Make 5 Demands, Write IOCs (2) (3) (4)
House Of Reps To Halt IOCs From Selling Oil Assets by FreeStuffsNG: 2:25am On Dec 01, 2023 |
The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. https://businesspost.ng/economy/house-of-reps-to-halt-iocs-from-selling-oil-assets/ 3 Likes
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Re: House Of Reps To Halt IOCs From Selling Oil Assets by FreeStuffsNG: 2:25am On Dec 01, 2023 |
He said, “I understand that some of them (IOCs) are beginning to divest very quickly, we will also make sure that we stop some of those divestments so that the people can benefit. It seems that there is something in that PIA, 2021, as passed by the National Assembly, that the IOCs are running away from apart from the long years of sabotage of their pipelines and other assets by their host communities. Equinor just announced its own divestment this week and assets bought by indigenous oil company. Incidentally, the new Nigerian buyers don't bother as much as the IOCs. There was a time one of the assets AITEO acquired from shell around Nembe was vandalised, the Nigerians left the crude oil continue to flood for weeks until they piled pressure on them to fix it albeit reluctantly. We need a mix of both IOCs and indigenous players particularly because the IOCs bring in fresh capital. There should be more engagement with them. I learnt Shell is demanding guarantee that some clauses in the PIA and local content act must be waved for it before it can bring in capital to develop a major field. I think the President should look at the law again and engage them further then consult the National Assembly for possible amendments. The way things are going, if not addressed, the oil producing communities complaining of not receiving enough may not have anything to receive anymore. The House of Reps member just admitted that there are issues with the PIA, you guys should fix it for national interest sake nah. Which clauses in both PIA and Local Content Act do the IOCs see as disincentive? Please share if you know. Thank you. God bless Nigeria for ever! Check my signature for free stuffs! 5 Likes 1 Share |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Jestin: 5:39am On Dec 01, 2023 |
Instead of Asari Dokubo to speak up about the development of Niger Delta, he is busy looking for position in Abuja 7 Likes |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by BluntCrazeMan: 5:41am On Dec 01, 2023 |
Hmmm. Ok naa |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Kingpele(m): 5:42am On Dec 01, 2023 |
The PIA is not working ... some of the clauses are not investor friendly....the solution is to amend the clauses that are too harsh on foreign investors ..we need foreign exchange...rather the NDDC should be unbundled, too many corruption in that board ...and questions should be asked ,how state governments in the oil producing state is using the extra money given to them as oil producing states...if the funds of NDDC and revenue of oil producing states are properly channelled to the needs of the people, the IOC will have no choice than to contribute their own qouta, to see that the plight of oil producing communities are be taken care of...the problem is our government..lack of true patriotism is killing every sector ...now a dollar is worth more than a thousand naira.. 2 Likes |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by mytime24(f): 5:48am On Dec 01, 2023 |
Go and clean up Ur mess 😠 |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Whalis: 5:53am On Dec 01, 2023 |
The bad |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by SouthSouth1914: 6:03am On Dec 01, 2023 |
When you bring onboard a legal framework with no implementation whatsoever, what do you expect the IOC’s to do? How long did it take for the National Assembly to pass the PIB? Nigeria is a wake up call to other African nations like Kenya, South Africa, Rwanda etc. Nigeria as a nation has failed! 6 Likes 1 Share |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Inosky: 6:05am On Dec 01, 2023 |
Noises everywhere, at the end they will bribe them and the host community continue to wallow in p0verty. 2 Likes 1 Share |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by ecolime(m): 6:11am On Dec 01, 2023 |
No divestment yet oo. Pity our people biko And if you must sell off your Assets for business optimization, pay your workers good severance packages. Don't forcefully transfer them from Chevron, SPDC, TEPNG etc. to Ekenedilichukwu & Sons oil Limited or Adegbola Gas Ltd. Let this be optional. That is the cry of everyone 3 Likes 2 Shares |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by free2ryhme: 6:14am On Dec 01, 2023 |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Ekpeitut: 6:15am On Dec 01, 2023 |
He said, “I understand that some of them (IOCs) are beginning to divest very quickly, we will also make sure that we stop some of those divestments so that the people can benefit. If after 67 years of oil discovery in Nigeria law-makers are making these statements about oil communities benefitting from the proceeds of oil and gas, Nigerians ought to realise that we have the worst, self-centered, fantastically corrupt and the lowest I.Q bearing leaders heading the affairs of our country. There should be outrage and public anger by the masses. Do we even understand what 67 years of oil exploration mean?? The United Arab Emirates where you have Dubai had their oil discovery 2 years after Nigeria did and we all know how glorious Dubai is today, while Nigerians still lack the minimum and most basic of life's necessities. The fricking same oil money they have, we have! What did our leaders do with all the taxes, sales and royalties since oil discovery and exploration began in Nigeria!!! These are the questions we should be asking not this APC, PDP, Yoruba, Igbo ish they keep pushing at us to distract us from the ugly truth. 3 Likes |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Karlifate: 6:27am On Dec 01, 2023 |
Jestin: What do you expect from a typical Nigerian Even you will do what favors you, before you remember Nigeria. 1 Like |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by money121(m): 7:13am On Dec 01, 2023 |
Ok |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Zeebuy: 7:22am On Dec 01, 2023 |
My uncle has an oil servicing firm and I used to follow him to the creeks while they do oil spill cleanup. Things I saw there, I weep for the Niger Delta. |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by COMPAQ(m): 7:26am On Dec 01, 2023 |
It's the responsibility of the government to improve the lives of the people, not oil companies. The government should stop passing its responsibility. 1 Like |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Chetas81(m): 7:45am On Dec 01, 2023 |
POOR OPEC COUNTRY, NIGERIA IS THE POOREST AMONG THE OPEC COUNTRY |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by bigdammyj: 8:01am On Dec 01, 2023 |
Noted. |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by rhames(m): 9:40am On Dec 01, 2023 |
FreeStuffsNG: They see any change as disincentive whether good or bad. The only problem they don't have is if they can have the crude for free. |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by rhames(m): 9:41am On Dec 01, 2023 |
Zeebuy: They and their ogogoro drinking leaders are their own greatest problems. |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by rhames(m): 9:44am On Dec 01, 2023 |
Ekpeitut: Also remember that the Nigerian constitution did not provide for savings of proceeds from all revenue sources. Hence the borrowing spree by all governments. |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Coldie(m): 10:14am On Dec 01, 2023 |
Chetas81:I keep saying this to people who keep talking about our population, if majority of ur population is poor and poverty stricken it’s useless calling it a market |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by Chetas81(m): 11:40am On Dec 01, 2023 |
Coldie:WHEN MAN POORLY REASON, THEY DON'T DO SOMETHING GENUINE |
Re: House Of Reps To Halt IOCs From Selling Oil Assets by FreeStuffsNG: 2:39pm On Dec 01, 2023 |
Coldie:Smh. If only you're humble and teachable, you will not make this ignorant remark. Most of you don't even know jack about your own immediate locality, LGA, state let alone the whole of Nigeria. I am sure if I mention Jigawa now, you will immediately think of Aboki or Fulani but if I ask you to mention two high value strong forex earner that state dominate, you will not know. You probably think that because you are surrounded by equally negative mind like you then everyone in Jigawa is poor and hungry. Read to improve your understanding. All these nonsense assumptions you all make online are bunkum. If you are poor today, it's not Nigeria that made you poor. You're poor because all you see around you is lack and poverty. Ordinary folks with little or no education and no time to idle away on social media are bringing in billions into Nigeria in same Jigawa and most of the places you ignorantly associate with poverty. 1 Like |
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