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FG, OPEC Forge Ties To Ensure Global Oil Market Stability

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The Federal Government has given assurance of its readiness to support every move that will bring about stability in the global oil market.
This was reiterated at a visit by Dr Mohammad Barkindo, the Nigerian born Organisation of Petroleum Exporting Countries (OPEC) Scribe, to the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja.
They both expressed their readiness to work hand-in-hand to ensure stability of the global crude oil market.
Sylva said that Nigeria, as one of the leading oil and gas producing nations in Africa, would continue to abide by the Declaration of Cooperation (DOC) which has gone a long way in stabilising the market for the collective good of the producing and consuming nations.
On his part, Barkindo applauded Nigeria for the key role it has been playing in the global crude oil market, noting that the 50 years partnership between OPEC and Nigeria has impacted the crude oil market positively.
He presented a book entitled “Nigeria and OPEC: 50 years of Partnership,” to mark the golden anniversary of its membership in the Organization of Petroleum Exporting
Can The Biden Administration Meet Its Ambitious Offshore Wind Power Target?
Earlier this year, the Biden administration said it planned to build offshore wind power generation capacity to the tune of 30 GW by 2030, creating more than 44,000 direct jobs and close to 33,000 indirect ones. To date, the United States has wind power capacity of 118 GW. Of this, only 42 MW is offshore wind. And According to IHS Markit, the 30 GW additional capacity target will almost certainly be missed.
Last year, the United States set a record in wind power capacity additions, at 14.2 GW added during the pandemic year. That was a continuation of another strong year in 2019, which also set a record in wind power additions, according to data from the Energy Information Bureau.
However, the reason for this boom in wind power generation capacity was not a simple response to greater demand for wind power. In fact, the reason for the records set in both 2019 and 2020 was the looming phase-out of the production tax credit, which spurred the mass deployment of wind and solar installations.
In December, Congress extended the production tax credit, which provided wind farm operators with a credit of $0.025 per kWh, until the end of this year. There are other incentives available to the wind industry, too. The biggest is the investment tax credit, which covers between 12 and 30 percent of investment costs at the start of the project. As of December, Congress has established a 30-percent investment tax credit for projects that start construction by December 2025.
So, with so much government help for the wind power industry, the 30 GW target in offshore wind should be a no-brainer. Yet, there are other factors at play besides government incentives and it is these factors, according to IHS Markit, that would make hitting the 30 GW target impossible.
For starters, the permitting process for offshore wind projects is lengthy and complicated, IHS Markit’s Andre Utkin wrote in a recent analysis of the topic. Then, there are not enough manufacturing facilities for the turbines, blades, and other equipment that goes into a utility-scale wind farm. The installation process is also tricky: per U.S. legislation, only U.S.-flagged vessels can sail along the country’s coasts. And there are not enough U.S.-flagged wind turbine installation and service vessels, according to IHS’s Utkin.
Then there is the issue of transmission infrastructure. This is insufficient to accommodate an additional 30 GW of wind power capacity, according to the research firm. The transmission infrastructure problem is a global one, by the way. Earlier this year, IHS’s Utkin reported that global offshore wind power capacity was set to expand sixfold by 2030 thanks to technological advances, cost reductions, and government incentives. However, he added, “the industry needs to rapidly develop and invest in new infrastructure to achieve these ambitious plans.”
Finally, there is a regulatory hurdle, albeit not an insurmountable one. The Bureau of Ocean Energy Management tends to conduct lengthy investigations of the impacts of wind farm construction on the environment, which will also likely delay projects.
In all fairness, many of these challenges can be dealt with by legislators, a majority—although slim—of whom are clearly in favor of building the country’s offshore wind power capacity. Some, however, are trickier because they do not depend on favorable policies. One example is the cost of building the necessary transmission infrastructure.
The recent $550-billion bipartisan infrastructure deal struck between the Senate and the White House envisages $73 billion in funding for clean energy generation and transmission. Yet copper prices are rising, and the offshore wind takes massive amounts of copper for its infrastructure. The $73 billion might simply be not enough for that and modernizing the U.S. aging grid.
Slav writes for Oilprice.com

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Nothing’ll Stop Governance In Rivers, Fubara Assures …Says We Won’t Allow Anyone Take State For A Ride

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Rivers State Governor, Sir Siminalayi Fubara, has assured that his administration will not leave any stone unturned to checkmate and frustrate anyone or group of persons attempting to stop government from delivering good governance to the good people of the State.

 

He also assured that with the strong support of the pillars and frontiers of the political class and leaders, particularly those who built the foundational structures of Rivers politics, his administration will not allow any detractor or shenanigan take the State and its people for a ride going forward.

 

Governor Fubara gave the assurance while addressing Rivers people at a 2025 New Year State Banquet in Government House, Port Harcourt.

 

He expressed confidence that with the strong organic support of former governors, Dr Peter Odili and Sir Celestine Omehia; former Deputy Speaker, House of Representatives, Sir Austin Opara; former deputy governors, Sir Gabriel Toby and Engr Tele Ikuru; Senators John Azuta-Mbata, Lee Maeba, Andrew Uchendu, Adawari Michael Pepple; former national chairman of PDP, Prince Uche Secondus; former transport minister, Dr Abiye Sekibo; Amb Orji Ngofa; and other former and current elected political office holders and leaders at all levels, with proven integrity and accomplishments, no detractor would stand on the way of the State Government in achieving the giant strides it has set for itself.

 

The Governor said this year, “We will ensure we protect the integrity of this state, at all cost. We won’t allow anybody take this state for a ride. It doesn’t matter the approach I will use. It’s not going to be a fight. We will follow the issues as we did with the case when they (detractors) started begging. Nothing will stop us from not achieving the purpose of governance in this State.”

 

With strong confidence and faith in God and the people, the Governor said, “We are not bothered about what they (opposition) will come with. God will always have a way to save us from them. They are going to come, but we are not worried. We are equal to the task. I honestly thank our leaders, from Dr. Peter Odili, Sir Celestine Omehia, Sen John Azuta Mbata, Sir Austin Opara, Prince Uche Secondus, Dr. Abiye Sekibo; to others, for the organic support you are giving to our government.

 

“A lot of persons would not understand what is really happening. This is not to say we did not have people that were with us and following us and fighting. But one of the troubles they (detractors) have where they are today is that they do not have any (strong) face (in Rivers politics) with them. The beginning and the end of politics in this State is Sir Peter Odili. And if he is sitting with us (here), and with these other persons, who do they have with them?

 

“This Dr. Odili is the right face and right image of our State. These are the frontiers of Rivers State politics. Men and women that have distinguished themselves are sitting with us (here). People who have contributed in several ways to make Rivers State what it is, not rented people they bring for dinner”, he added.

 

He recalled that the events of 2024, were a mix bag of daunting challenges, but quickly added that the year ended with his administration scoring more gains than losses, “2024 was not an easy year, but it was great for us in the end. About this time last year, we were not in a very pleasant mood, for fear of what might happen, because of the boasting of those who believe they control life”.

 

But while boldly projecting the 2025 outlook, the Governor said, “We will continue to put our trust in God as 2024 had been a wonderful year. We had our losses, and our gains. But the most important thing is that our gains surpassed the losses. We can boldly say 2024 was a good year for Rivers State. And year 2025, with your support, we are going to build on the gains of last year.”

 

He restated his administration’s determination to sustain the Rivers First policy, saying, “We will continue to protect the lives of our people and provide the required services in our State. We are not going to lower our guards. Rather, we will raise our bar because, what is speaking for us today is the achievements we are making in the face of obvious distractions.

 

“Therefore, raising the bar will be our own way of telling the world that no matter what is happening here, we mean well for the state and know what we are doing. It is not going to be easy. I know. God, at times, keeps evil people to live long to continue their evil, not because He does not know what to do but activities of evil people also keep the righteous people awake,” he stressed.

 

Governor Fubara commended everyone in the State for their organic support, and solicited for more support in 2025, emphasising, “We are not going to do it alone, because we have not made these gains alone. Whatever win we scored today, it is not myself alone, but the government and the support received from every one of you. I cannot pay you back for doing what is right for your State. It is our State, and at the end of the day, we are building a better future for those to take over after us. That is my own dream for the State.”

 

The Governor noted that it is not about power and what is done today, but sustaining a system that will be self-preserving, on which everyone can stand and be proud of the State, explaining, “I strongly believe that because of our desire to build, not our (private) supermarkets, or our hotels, but to build a (resilient) State, there is no way we will not succeed, because our interest is not for self, but the collective interest of our people.”

 

He assured that 2025 is going to be a year of all-round achievements, declaring that by February, 2025, his administration will embark on projects’ commissioning in other sectors, emphasising, “This time around, not roads. Our Fire Service, you can see what we are doing there. For over nine years, there was no functional Fire Service, but today, I can proudly tell you that we have bought all the vehicles, and we are remodelling the offices”.

 

The Governor added, “Education is the only instrument that can help our youths to avoid criminality and crime. Our State is behind in education, as our primary schools are shadows of themselves. You can see the provisions we made in our budget, and we are making sure education is given the required attention in this State.

 

“We have done much on health but we are going to spend more because you have to be alive to work. We are doing what we know is right, and doing those things that you can stand anywhere after our administration to defend us that our decisions were right. Nothing will stop us from achieving the purpose of governance in this State”, he vowed.

 

In his welcome remarks, the Secretary to the State Government, Dr. Tammy Danagogo, noted that the outgone year had been a wonderful one, and commended Governor Siminalayi Fubara, for being focused as an emancipator of the State, saying no matter the antics of the enemies, their acts to distract the government will continue to fail.

 

While proposing the toast for the New Year, member representing Andoni-Opobo/Nkoro Federal Constituency in the National Assembly, Hon Awaji-Inombek Abiante, said that Governor Fubara’s leadership qualities are a testament to the success of the administration, and prayed for the peace, unity and prosperity of the State, urging the “prodigals” to return home to join in the rebuilding of the Treasure Base of the Nation for future generations.

 

Highlight of the event was the cutting the New Year Cake by the Governor, who was joined by his Deputy, Prof Ngozi Odu; Speaker, Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo; former governors Peter Odili and Celestine Omehia; Hon Austin Opara; Prince Uche Secondus; retired Justice Mary Odili (JSC); Chief Judge of the State, Justice Chibuzor Simeon Amadi; President, Customary Court of Appeal, Wilfred Ihemnacho Obuzor; Senators John Azuta Mbata, Lee Maeba, Andrew Uchendu, Adawari Pepple; Amb Orji Ngofa; and others.

 

 

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Monarch Hails RSG for Siting COE In Opobo 

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Amayanabo of Opobo and natural ruler of Opobo kingdom, King Dandeson Douglas Jaja, has commended state governor, Sir. Siminalayi Fubara for siting the new College of Education in Opobo.

 

He gave the commendation during his 21st coronation anniversary and awards to prominent citizens within and outside Opobo kingdom at the weekend.

 

He said, “We express gratitude to the state government for siting the Rivers State College of Education in Opobo Kingdom. We hope further reclamation efforts will be undertaken to create more land for development.”

 

The Opobo monarch also commended the Federal Government for acquiring land to build the King Jaja Historical and Cultural Center, in honor of the late founder of the Kingdom, King Jaja, stating that the center will not only preserve the heritage but also position kingdom for industrial and tourism-driven growth.

 

On those recognised and awarded the kingdom’s highest awards, the king explained that the awardees were meticulously selected for their various contributions to the kingdom’s growth, while others were selected based on national and international reputation through academic and professional achievements.

 

In his words”, Notably, we are honouring a young man for his extraordinary skill as a drummer, hoping this example will inspire other youth to develop and share their creative talents, ensuring that our Ibani songs, drumming styles, and rhythms thrive for generations to come”.

 

Among those honoured include the deputy governor, Prof. Ngozi Ordu, who got the title of Balolo, shining star of Opobo alongside Jake Epelle of the Nigeria Albino Association.

 

Also, media icon and National Coordinator for Rivers Women Unite for Sim (RWUS), Mrs Sotonye Toby-Fulton got the title of “Amaopuorubo,” elderstatewoman of Opobo alongside, Prof Emylia Jaja, former Chairperson of ASUU in Rivers State University.

 

King Jaja V congratulated all the new title recipients, and reiterated that the awards have never been, and will never be, for sale, but rather committed to transparency and fairness in all selections.

 

Assuring of more excellence and transformation in the future, he said the kingdom would persist in pursuing further developments and excellence until we realize its full potential.

 

Kevin Nengia

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You’ve Shown Courage In Defence Of Rivers, Fubara Tells Sen Mbata …As He Marks 65th Birthday

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Rivers State Governor, Sir Siminalayi Fubara, has described Senator John Azuta Mbata, who previously represented Rivers East Senatorial District at the National Assembly, as an amazing and outstanding leader who had not shied away standing on the side of truth in defence of Rivers State.

 

Governor Fubara made the remark when he paid a visit to Senator Mbata, who hosted him and some leaders of the State on his 65th birthday at his residence along Nwanuna Street, Mgbuoba Community in Obio/Akpor Local Government Area, last Friday.

 

The Governor said it takes a man of integrity and love for the State to stand on the path of truth, describing Senator Mbata as such a person because of his love for the continual progress of the State.

 

He said, “As we join to mark this day with you, I want you to know that we appreciate your support for us. It takes a man who has integrity, not the one that will hear when people are talking publicly, but the real one to stand on the path of truth, and you have shown it in this State. We appreciate that.

 

“We want to also assure you that we will continue to work with you, to support you to make sure that in this State together, we will get to that Promised Land.”

 

Governor Fubara described Sen Mbata as a very rear person who, in the midst of his splendor, not only of the wealth he inherited but also those acquired by dint of hard work, have continued to show humility.

 

The Governor said: “No wonder, whoever crosses your path always have positive things to say. I want to wish you good health and more blessings. You know David (of the Bible) was blessed that even in his old age, he was still receiving a lot of honours.

 

“So, I want the blessings of God that added no sorrow to continue to be your portion. To the family, Daddy is marking his birthday. He has lived a good life: life with reputation; so that people will also make reference just like they make to that of his father. Let it also be so with his own children. Make him proud.”

 

Governor Fubara also proposed the toast, and wished the celebrant good health and longevity of life.

 

Highlights of the occasion were the cutting of the 65th birthday cake and intercessory prayers offered by the former National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus.

 

The Governor was joined at the event by Speaker, Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo; Chief of Staff, Government House, Dr Edison Ehie; members of House of Representatives: Hon Awaji-Inombek Abiante,  Boniface Emerengwa, Anderson Igbiks, Umezuruike Manuchim; Chairman, PDP Board of Trustees (BOTs), Sen Adolphus Wabara; Sen Bennett Birabi; Senator Lee Maeba; former National Chairman, Peoples Democratic Party, Prince Uche Secondus; former Transport Minister, Dr Abiye Sekibo; Chief Theodore Georgewill; Chief Ambrose Nwuzi; Chief Orits Oyiri; Chief Mike Elechi; Dr Tamunosis Gogo-Jaja; some members of State Executive Council; some Local Government Council chairmen; and other top politicians and political office holders, among others.

 

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