Some stakeholders in the oil and gas industry have called on the Minister of State, Petroleum Resources, Heineken Lokpobiri, on the need for overhauling of the downstream sector for effective performance.
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The confirmation of the nominees followed the consideration of a report by the Committee on Downstream Petroleum Sector.
The NNPC Limited also revealed that 2.3 billion litres of PMS would arrive Nigeria between now and February ending.
The confirmation request was contained in a letter dated 31st January, 2022, and read by the Senate President, Ahmad Lawan, during plenary.
The President in another letter to the upper chamber also sought the confirmation of the Board of the Upstream Regulatory Commission.
I however, have some concerns about certain provisions of the bill as it affects the downstream. While the bill removed price controls on petroleum products in section 205, the senate version of the bill has a clause that constrains market competition by restricting importation of products to only players with local refining capacity. This clearly counters the provision of 205(1).
Debola Adesanya, Country Manager, Asharami Synergy, said the company would leverage its affiliation with its parent company, Sahara Group, to join forces with relevant stakeholders in the energy sector to enhance capacity building, access to clean energy and sustainable development in Kenya.