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President Muhammadu Buhari

By Michael Eboh

President Muhammadu Buhari, yesterday, reconstituted the Board of the Nigerian Liquefied Natural Gas Limited (NLNG), for the first time since 2005, and Bonny Gas Transport Limited (BGT), appointing Dr. Edmund Daukoru as Chairman and President of the Board of the NLNG and BGT respectively.

Edmund Daukoru, the Amayanabo of Nembe, was former Minister of State Energy and former Secretary General of the Organisation of Petroleum Exporting Countries (OPEC). The current Minister of State for Petroleum Resources, Chief Timipre Sylva, served as Daukoru’s Principal Officer, during his time as Minister of State for Energy, during President Olusegun Obasanjo’s administration.

Daukoru would be taking over from Dr. Osobonye Longjohn, who was until now, the Chairman of the NLNG Board.

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In a statement in Abuja, Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed that Buhari also appointed four other individuals to the board of the NLNG and four others to the board of BGT.

The other appointments to the Board of the NLNG, according to Sylva, include: Engr. Henry Ikem-Obih, former Chief Operating Office, in charge of Downstream, at the Nigerian National Petroleum Corporation (NNPC); and Dr. Rabiu Suleiman, former Group Executive Director at the NNPC, who were appointed members.

Rabiu was also former  Senior Technical Adviser to former Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Refineries, Gas & Power Infrastructure and was also chairman of the Ministerial Steering Committee (Steer Co) of the Nigerian Gas Flare Commercialisation Programme (NGFCP).

The president also appointed Group Managing Director of the NNPC, Mallam Mele Kyari and Permanent Secretary of the Ministry of Petroleum Resources, Mr. Bitrus Nabasu , as members of the Board of the NLNG, based on their statutory positions.

For Bonny Gas Transport Limited (BGT) in addition to the appointment  of Edmund Daukoru as President of the Board, Sylva disclosed that Buhari also appointed Doyin Akinyanju and Abdul Abba as members of the Board of the BGT, while Group Managing Director of the NNPC, Mallam Mele Kyari and Permanent Secretary of the Ministry of Petroleum Resources, Mr. Bitrus Nabasu were also appointed as members.

Sylva said, “President Muhammadu Buhari has approved the reconstitution of the representatives of the Federal Republic of Nigeria on the Boards of the NLNG and BGT. You may recall that the current Board members have been on the respective Boards since 2005 and it became imperative to inject fresh ideas into the governance of the companies.

“I will like to use this opportunity to thank the Chairman and other outgoing Board members of NLNG and BGT for steering the companies to record successes, particularly the train 7 final investment decision (FID). I wish the exiting members good health abd more successes in their future endeavors.

“To the incoming members of the Board, I congratulate you on this appointment and your selection is based on your experience, integrity and expertise. I therefore, urge you to bring all these to bear in the discharge of your responsibilities in line with the agenda of the Mr. President.”

Nigeria yet to comply with OPEC+ agreement

In another development, Timipre Sylva, had a phone discussion with Prince Abdulaziz Bin Salman Al Saud, the Saudi Minister for Energy, with discussions focused on developments in the global oil markets, the improvement in demand for oil, and progress towards full implementation of the OPEC+ agreement.

At the end of the call the two ministers reiterated the firm commitment of their countries to the OPEC+ agreement and to the level of production cuts to reduce output.

HRH Prince Abdulaziz bin Salman, the chairman of the Joint Ministerial Monitoring Committee of OPEC+, emphasized the importance for all OPEC+ participants of meeting their production stated in the agreement, in order to accelerate the rebalancing of the global oil market.

Sylva also confirmed the commitment of Nigeria to the OPEC+ agreement, while he clarified that Nigeria had not yet met the terms of that agreement, and was currently below the level of the agreed cuts, as reported by the secondary sources that monitor the market.

He also confirmed that Nigeria would raise its level of conformity to 100 percent, and would compensate, during the months of July, August and September, for the over-production in May and June.

At the end of the call, the two Ministers stressed that efforts by OPEC+ countries towards meeting production cuts as stated in the agreement will enhance oil market stability and help accelerate the rebalancing of global oil markets.

Vanguard