Featured Politics News

Senate urges oil and gas companies to relocate to Niger Delta

The Senate has urged oil and gas companies in Nigeria to relocate to their operational base in Niger Delta for smooth operation.

This was sequel to the adoption of a motion by Sen. Albert Akpan (PDP-Akwa Ibom) at plenary on Tuesday.

Akpan, in his lead debate said the companies have over the years operated from their respective operational bases in Niger Delta before they relocated due to some reasons.

“The companies attributed their operation outside their host communities to insecurity and hostilities in the host communities.

“Their operation outside of host communities and operational base accounted to the high cost of oil and gas production.

“This is a big set back to the country’s oil and gas industry and it is militating against maximum revenue from crude oil and gas sales to the federation account,” he said.

Akpan said the eventual relocation of the companies to their host communities would further boost development in the areas and enhance corporate social relationship and strengthen the nation’s collective resolve to reduce the contentious cost of production in the oil and gas sector.

Related posts

LASG directs fuel stations to close by 4pm to ease traffic

Emeka Ugwuanyi

Why Naira remains immune from election spendings

Editor

P/Harcourt refinery resumes production by December, targets 54,000/60,000 bpd –Lokpobiri  

Editor

Ex-governors, senators own 130 Dubai assets

Our Reporter

Nigerian oil, gas companies access $160m local content fund — Wabote

By Shile GIWA 

Why FG should reconsider signing African Free Trade Agreement – Chamber

Editor