October 17, 2022                                                       
 ISSUE 244


Lagos gets approval for $2.5 Billion Badagry Deep Seaport
By: Guardian Newspaper

Seaborne business in Nigeria is set to receive a boost as the Lagos State Government has got approval to build the Badagry Deep Seaport.

The $2.5 billion project, which will be funded through Public Private Partnership (PPP), will be built on approximately 496 hectares. It will have a 2,470m quay length container terminal, 560m quay length break bulk terminal, 360m quay length OSB terminal and a minimum of 18m depth.

It is expected to generate 250,000 direct jobs, enhance Government revenue and operate under a Build Operate and Transfer (BOT) concession agreement.

Lagos State Governor, Babajide Sanwo-Olu, received the approval at the just concluded Economic Summit (Ehingbeti 2022).



Nigeria’s NNPC anticipates investment approval for $25bn gas line in 2023
By: Offshore Technology

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday continued its stakeholders’ consultations on various regulations in its areas of operation in the oil and gas sector.

At a three-day event that kicked off in Abuja, the Authority stated that it was in continuation of efforts to streamline its regulations which came as a fallout of the new Petroleum Industry Act (PIA).

According to the NMDPRA, the latest set of regulations would deal with health and safety in the sector as well as the accuracy of measurement devices to ensure that no party is cheated.

It came about two months after the agency concluded the new rules on gas pricing domestic demand and delivery regulation as well as the petroleum transportation and shipment regulation.



To deliver exemplary transshipment operations, procurement and charter services "on time" and "on budget" according to global safety and quality standards.

PTI to develop modular refinery
By: The Nation Newspaper

The Federal Government through the Petroleum Training Institute (PTI) yesterday announced plans to establish a modular refinery which when completed will present the industry with an outstanding world-class training facility in the West African sub-region.

PTI Principal, Dr. Henry Adimula, broke the news in Abuja at the ceremony of the 50th anniversary of the institute.

He noted that it will result in compelling attraction for expertise training and know -how in refining and petrochemical operations and thus promoting  the institute as a hub of On the Job Training  (OJT)  and also attracting business interests from operators,  contractors,  consultancy requisite for oil and production outfits.


Oil Theft: Tompolo uncovers another illegal pipeline in Delta
By: Premium Times

The Tantita Security Services Nigeria Limited, a surveillance company, has discovered another illegal pipeline attached to Trans Forcados Export Trunk line.

The security company is operated by a former militant leader, Government Ekpemupolo, popularly known as Tompolo.

The illegal oil pipeline was reportedly discovered close to a military security post less than one kilometre from the Forcados Export terminal in Ogulagha, a community in Burutu Local Government Area, Delta State, South-south Nigeria.

The Federal Government in August awarded a pipeline surveillance contract reportedly worth N48 billion per year (N4 billion per month) to Mr. Ekpemupolo’s company to check massive oil theft in the region.


UNCTAD Headquarters

Oil Prices Reflect Growing Concerns About Chinese Demand
By:Tsvetana Paraskova 

The United Nations Conference on Trade and Development (UNCTAD) has alerted that maritime trade is facing a ‘historic moment of crisis due to Ukraine versus Russia war, which has disrupted major shipping routes.

The Secretary-General, UNCTAD, Ms. Rebeca Grynspan, who disclosed this at the Global Maritime Forum’s yearly summit in New York, said the world needs the shipping industry to brave the rough seas of crises.

She said the war in Ukraine has not only disrupted major shipping routes and supply chains but has also triggered global food, energy and finance crises that have sparked record prices and could push tens of millions more people across the world into hunger and poverty this year.

Grynspan said maritime transport has a key role to play in cushioning the blow, since ships carry over 80 per cent of the goods the world trades, including most of the food, energy and fertilizers people desperately need right now.



UAE tackles challenges and opportunities of the international maritime sector
By: Khaleej Times
The UAE has always been one of the most influential countries in developing the maritime sector; occupying a competitive status among the best maritime hubs worldwide.
With the presence of its permanent representative to the International Maritime Organisation Mohamed Khamis AlKaabi along with Captain Saif Al Mheiri, managing director of Abu Dhabi Maritime, an official delegate participated in The World Maritime Day Parallel Event (WMDPE) which was hosted by the Government of South Africa in the City of Durban under the theme of “New Technologies, Greener Shipping”.
The delegation also attended a high-level ministerial roundtable to discuss significant topics; such as international industry challenges and opportunities, strengthening the capacity building and IMO Technical Cooperation Programme (ITCP).


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