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Group Asks Oil Majors to Replace Expired Pipelines

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Pipeline Vandalism
  • Group Asks Oil Majors to Replace Expired Pipelines

The new Chairman of the Ijaw Youth Council Worldwide, Central Zone, Mr. Tari Porri, has called on multinational oil companies operating within the zone to replace all the expired pipelines.

The zone comprises Bayelsa State and some local government areas in Rivers State.

Porri made the call on Tuesday in Yenagoa, Bayelsa State capital, during the swearing in of the executive committee members of the zone.

He lamented that the majority of the pipelines criss-crossing the zone had expired and that conscious efforts were not made by the relevant authorities and oil firms to replace them.

He also called on the international oil companies to relocate their headquarters to the zone if they were willing to operate within the vicinity of Ijaw land.

Porri said, “Most of the explosions, most of the things that happen in the environment are not caused by Ijaw youths. Ijaw youths are law abiding; Ijaw youths are not fighters; and we are hardworking.

“I want to say that all the multinational oil companies that are operating in our zone should please, as a matter of urgency, commence the process of replacing all the pipelines across the central zone that have expired as we will no longer tolerate corrosion, explosion and equipment failure.

“It is unfortunate that most of the pipelines criss-crossing the entire zone have expired. We therefore call on the oil companies to replace them in the interest of peace and security in the region.’’

He frowned on the situation whereby indigenes of Ijaw in the central zone were denied contracts by oil companies, saying the youth would no longer tolerate such development.

He added, ‘’These oil companies have a way of creating contracts for non-indigenes, for non-Bayelsans, for non-central zone businessmen and part of the enjoyment in the oil industry is through the pipeline arrangement; that is why they are deliberately causing explosion in our environment.

“So, we implore the oil companies to replace all the expired pipelines in our zone with immediate effect.’’

Meanwhile, stakeholders have lamented the spate of oil spillages and other environmental pollution in the Niger Delta.

They, therefore, called on the government to “stop gas flaring and clean up the Niger Delta as recommended by the United National Environmental Protection report”, and “enact good environmental laws” to protect the environment.

The stakeholders made the call in Yenagoa during a town hall meeting organised by Face Initiative and Mac-Jim Foundation.

They also urged the communities to engage in activities such as planting of trees to restore the environment and desist from harmful practices such as improper disposal of waste.

They called on the Federal Government to prevail on oil companies operating in the Niger Delta to evolve mechanisms to halt the continuous pollution in the region occasioned by extractive activities.

Two resource persons, Dr. Charles Oyibo, a Geography lecturer with the Niger Delta University and chairman, Nigerian Environmental Society, Bayelsa State chapter; and the Executive Director, Mac-Jim Foundation, Mr. Godson Jim-Dorgu, delivered papers on the ‘Role of Community in Environmental Protection and Management’ and ‘Negative Impact of Environmental Pollution’, respectively.

The participants, numbering about 100, comprised traditional rulers, community development committees, women and youth groups of host communities, representatives of security agencies and ministries of environment, education and agriculture, the Central Bank of Nigeria, civil society organisations and the media.

They were unanimous in their submissions that the people’s traditional means of livelihood, particularly fishing and farming, had been adversely affected by the environmental degradation caused by actions and inactions of the government and oil firms.

They also expressed concern that the youth of the region, instead of preaching against environmental pollution, had joined the fray by carrying out illegal oil bunkering and illegal refining in the creeks.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Goya Foods Takes Legal Action to Assert ‘Goya Olive Oil’ Trademark Ownership

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Goya Foods

“Goya Olive Oil” trademark in Nigeria, Goya Foods Incorporated has initiated legal proceedings against the Registrar of Trademarks under the Federal Ministry of Trade and Investment.

The case, numbered FHC/ABJ/CS/883/2023, was brought before the Federal High Court in Abuja.

Goya Foods, a prominent producer and distributor of foods and beverages across the United States, Spanish-speaking countries, and Nigeria, seeks to enforce a longstanding consent judgment issued by the court in December 2006.

The judgment directed the Registrar to rectify the Trademarks Register to reflect Goya Foods Incorporated as the rightful owner of the “Goya Olive Oil” trademark, without any further formalities.

The lawsuit, exclusively revealed to sources, underscores Goya Foods’ determination to safeguard its intellectual property against alleged infringements.

According to court documents, Goya Foods obtained the consent judgment against Chikason Industries Limited, which was accused of marketing “Goya Olive Oil” in Nigeria, thus infringing on Goya Foods’ registered trademark.

Legal counsel for Goya Foods, Ade Adedeji, SAN, emphasized the necessity of rectifying the Trademarks Register to protect their trademark interests effectively.

Despite appeals to the Registrar, the requested rectification has not been implemented, prompting Goya Foods to escalate the matter through legal channels.

The case has been adjourned to September 27, 2024, for further proceedings, highlighting the complexity and significance of trademark disputes in the global marketplace.

Goya Foods remains committed to upholding its brand integrity and securing its proprietary interests amidst the evolving landscape of international trademark law.

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IOCs Accused of Blocking Direct Crude Sales to Dangote Refinery

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Dangote Refinery

Dangote Industries Limited (DIL) has accused International Oil Companies (IOCs) of obstructing direct crude oil sales to its refinery and forcing the company to use costly middlemen.

This development comes after a statement by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) suggested a “willing buyer-willing seller” dynamic was in place as mandated by the Petroleum Industry Act (PIA).

Devakumar Edwin, Vice President of DIL, countered NUPRC CEO Gbenga Komolafe’s claims, stating that IOCs consistently make it difficult for local refiners by pushing sales through international trading arms, which inflate prices and bypass Nigerian laws.

“These middlemen earn unjustified margins on crude produced and consumed within Nigeria,” Edwin stated.

He noted that only one local producer, Sapetro, has sold directly to DIL, while others insist on using trading arms abroad.

Edwin detailed the financial impact, citing instances where DIL was charged a $2-$4 premium per barrel above the official price.

In April, DIL paid $96.23 per barrel for Bonga crude, which included significant premiums, compared to a much lower premium for West Texas Intermediate (WTI) crude.

While acknowledging NUPRC’s support in resolving some supply issues, Edwin urged the regulatory body to revisit pricing policies to ensure fair market practices.

“Market liquidity is essential for fair pricing. We hope NUPRC addresses these issues to prevent price gouging,” he stated.

This dispute highlights ongoing challenges in Nigeria’s oil sector, where domestic refiners struggle to secure local crude amidst complex market dynamics.

The outcome of these negotiations could significantly impact the refinery’s operations and broader industry practices.

The situation underscores the need for transparent and efficient crude supply systems to bolster Nigeria’s refining capacity and economic growth.

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Dangote’s $20 Billion Refinery to Begin Petrol Sales Next Month

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Petrol - Investors King

Aliko Dangote announced on Monday that his long-awaited $20 billion refinery complex will commence petrol sales starting next month.

The announcement came during a press briefing held at the refinery site in Lagos, where Aliko Dangote, Africa’s richest man, detailed the project’s progress and future plans.

“We are proud to announce that the Dangote Refinery will begin selling petrol from August,” Dangote stated confidently.

“This milestone marks the culmination of years of meticulous planning, construction, and overcoming numerous challenges.”

Dangote’s refinery, touted as the largest single-train refinery in the world, is designed to process 650,000 barrels of crude oil per day once fully operational.

The facility aims to not only meet Nigeria’s domestic demand for refined petroleum products but also contribute significantly to export markets across West Africa.

“We have entered the steady-state production phase earlier this year, and now we are ready to begin commercial sales,” Dangote explained. “Initially, we will focus on petrol production, with plans to expand our product range as we ramp up to full capacity.”

The refinery’s launch is expected to alleviate Nigeria’s longstanding dependence on imported refined products, thereby boosting the country’s energy security and reducing foreign exchange outflows associated with fuel imports.

Beyond petrol sales, Dangote revealed ambitious plans to list both the refinery and its associated fertilizer plant on the Nigerian Exchange Group (NGX) by the first quarter of 2025.

This move aims to attract broader investor participation and unlock additional value for shareholders.

“We are committed to transparency and accountability in our operations,” Dangote emphasized. “Listing these subsidiaries on the NGX will not only strengthen our corporate governance framework but also enhance the refinery’s financial sustainability.”

Challenges and Future Prospects

Despite celebrating the imminent commencement of petrol sales, Dangote acknowledged challenges encountered during the project’s execution, including delays in securing land for a petrochemical facility in Ogun State, which incurred substantial costs.

“We faced bureaucratic hurdles that resulted in significant delays and financial losses,” Dangote lamented. “Nevertheless, we remain steadfast in our commitment to advancing Nigeria’s industrial capabilities and contributing to economic growth.”

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