Top Tweets for #OpenOilLicense
What did Falana do about the PIGB that was supposed to address this?. Nothing. When we screamed #OpenOilLicense what did he do? Abeg it's legal
Falana Writes Buhari, Says Allocating Oil Blocks To Individuals Illegal. https://t.co/cSGrqCsTDR
Nigeria introduced Risk Service Contracts : award of a production sharing contracts and service contract to AGIP Energy and natural resources , on a discretionary basis between 1975-1991.
#OpenOilLicense
Between 1914-1960, Nigeria used concessionary type , colonial right of Britain licensing award system.
#OpenOilLicense
A cursory look at the history and global practices shows that there are three major ways of acquisition of oil exploration and production licenses :
a. Expropriation
b. Administrative negotiation
c. Competitive bidding
#OpenOilLicense
The Nigerian president and the Petroleum Minister have discretionary powers to award oil licenses to whomever they deem fit.
Opacity is an enabler of corruption in the oil sector and affects productivity too.
#OpenOilLicense
Oil accounted for 94% of Nigeria's exports in 2018. The weakest link in Nigeria's oil and gas value realization is the oil licensing process.
#OpenOilLicense
The land and shallow water terrain contribute about 48 percent while deep offshore wells produce 52 percent to the average oil production per day.
#OpenOilLicense
Available data from DPR indicates that Nigeria's daily total average production of crude oil is 2 million barrels of oil per day.
Nigeria can produce more with #OpenOilLicense
Available data shows that the total number of oil fields in Nigeria is 315, with 218 producing and 97 non producing fields.
To get all oil fields producing at optimal capacity, Nigeria must embrace #OpenOilLicense
Malabu Oil and Gas Limited was required to pay a signature bonus of $20 million. The company paid only $2 million yet their rights weren't revoked by the Petroleum Minister.
Opacity enables abuse of office.
#OpenOilLicense
Prior to the engagement of Shell as its technical partner in 2001, Malabu Oil Limited did not have verifiable technical or financial capabilities to operationalize the oil field.
No due diligence before award of oil license will end when we #OpenOilLicense
OPL 245 was awarded to Malabu Oil & Gas Limited only nine days after the company was registered with Nigeria's Corporate Affairs Commission.
Malabu didn't meet the stipulated requirements.
To avoid another Malabu oil scandal , we need #OpenOilLicense
Any system that allows such discretionary powers to the president and Petroleum minister is open to wanton abuse.
Remember that Abacha colluded with Dan Etete to award one of Africa's richest oil field to themselves.
#OpenOilLicense
President Buhari doubles as the president and Petroleum Minister.
He can award oil licenses and farm - out oil marginal fields at his discretion to his family, friends and cronies.
#OpenOilLicense will end this.
At the moment , the Minister of Petroleum Resources retains the rights to award licenses at his or her discretion and the president also retains the rights to farm out a marginal field at his discretion.
A recipe for corruption.
#OpenOilLicense
If the UAE can do it with Oil, why can't Nigeria do it despite her resources? We are ranked Poverty Capital of the world and a lot has not changed since the discovery of Oil.
Watch this Video and take action by signing the petition: https://t.co/SS95FmJJPg
#OpenOilLicense
The Petroleum Industry and Governance Bill passed by the 8th National Assembly have robust transparency, accountability and efficiency measures.
President Buhari needs to sign it into law before May 29th.
#OpenOilLicense
The rejection of the Petroleum Industry and Governance Bill by President Buhari continues to accumulate huge cost for Nigeria, estimated at more than $200 Billion.
#OpenOilLicense
President Buhari can still write his name in gold by signing the Petroleum Industry and Governance Bill into law.
#OpenOilLicense
In the meantime, let's resume our call for an #OpenOilLicense process. It is one sure way of getting our oil and gas industry to work.
Corruption thrives in opacity. Therefore, transparency in the sector will fight corruption.
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