The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has negotiated a 15 billion dollar investment in Nigeria’s oil and gas sector with the Indian government.
The negotiations formed part of the three-day investment drive of Mr Kachikwu to India where he concluded talks on investments in Nigeria’s oil and gas sector in a bilateral meeting with his Indian counterpart in charge of petroleum and natural gas.
Both countries have agreed to work on a memorandum of understanding to facilitate investments by India in the Nigerian oil and gas sector and specifically in areas such as term contract, participation of Indian companies in the refining sector, oil and gas marketing and upstream ventures.
The MoU is expected to be firmed up in December 2016 during the 12th International Oil and Gas Conference and Exhibition, PETROTECH-2016, at New Delhi.
The Executive Director, Maritime Labour and Cabotage Services for the National Maritime Administration and Safety Agency (NIMASA), Mr. Callistos Obi has declared that maritime agency is being blackmailed as it is fulfilling its obligation.
Speaking on the arrest of former Minister of Interior and CEO of Integrated Oil and Gas Limited, Emmanuel Iheanacho, for oil theft, Mr.Obi, stated that the alleged stolen oil were already stored on the company’s tank farm before the clearance was sought.
Noting that though, the issuance of clearance by NIMASA was wrong, “the clearance was issued in order to let the maritime agency get the investigation flow” he said.
It would be recalled that Captain Iheanacho, has alleged that he is being targeted by people he has no knowledge of.
According to Integrated Oil and Gas boss, a lot has been going wrong with his company and now compounded by his arrest and shutting down of the company by officials of the NIMASA.
But on the contrary, Mr. Obi, who is also a lawyer said NIMASA is out to nab the ‘big boys’ behind the foot soldiers in the illegal business of oil theft as they are out to blackmail NIMASA.