Nigerian House Navy Committee Tackles Illegal Bunkering

Thursday, October 04, 2007
Illegal oil bunkering is one of the many problems militating against the smooth running of the oil industry in Nigeria. This problem has been acknowledged by the House of Representatives Committee on Navy, which was recently inaugurated by the Speaker, Hon. (Mrs) Patricia Olubunmi Etteh. Beginning almost five decades ago, the House of Representatives Committee on Navy, has been fighting illegal oil bunkering. Hon. Adamu in his address at the occasion lamented the colossal sums of money being lost, estimated at almost $2m a day, by the country to the activities of illegal bunkering in the sector. According to Adamu, his committee would take a dispassionate look at the Navy Act of 1964, which has been superseded by the Armed Forces Decree 105 of 1993 with a view to ascertaining its usefulness to the present day realities of the force. He said to do this, the committee would organize public hearings on bunkering and the continued existence and need of those that have been described as legal and illegal bunkerers in the nation's oil industry and ascertain the level of economic harm they and their activities have done to the nation. He said the committee would strive to ensure that the Navy is well and promptly funded to live up to its expectations by providing the executive with adequate budgetary provisions. In addition, the Navy committee is to review all operations in the Niger Delta in consultations with all the stakeholders in the area with a view to evolving a more mutually acceptable operational procedure for such operations. [Source: http://allafrica.com]
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0865 sec (12 req/sec)