Indigenous Ship Owners Association (ISAN) has decried the lull in coastal shipping business, following the refusal of oil marketers to imports petroleum products occasioned by the petroleum subsidy scam.

THE Federal Government may consider the relocation of tank farms from the port area of Apapa, following last week’s explosion at the storage facility belonging to the MRS Oil and Gas Company in Apapa Lagos.

The hue and cry over the fiscal regime proposed by the PIB before the National Assembly is nothing new when it comes to petroleum development. Although host government and investors may have the common intent of creating maximum economic rent – their other goals may be far apart.

To meet Federal Government’s aspiration to boost power generation in the country, the Nigeria Petroleum Development Company Limited (NPDC) has commenced the delivery of 65 million standard cubic feet per day of gas into domestic market from Oredo field in Oil Mining Lease, OML 111.

NIPCO Plc, an indigenous joint venture downstream player said it has concluded plans to construct an 75 service station to its already 150 retail outlet across the country for year 2013.

THE Security operatives of the MRS Oil and Gas Company severely beat up a representative of the Department of Petroleum Resources (DPR) for taking shots with his camera during the explosion that rocked its storage facility last week.

Skye Bank Plc has again demonstrated its commitments towards development of indigenous capacity in the oil and gas sector with the provision of finances for the Pan Ocean Oil’s Ovade-Ogharefe Gas Processing Plant, Oil Mining Lease, OML98.

To encourage a wide usage of Liquefied Petroleum Gas, (LPG) across the country, NIPCO an integrated indigenous downstream operator in the oil and fad industry has thrown it weight behind viable policies that would ensure a booming LPG market in the country.

Change, they say, is the only constant thing in life, but accepting change is even more difficult than instituting it. And so it is with current reforms in Nigeria’s petroleum sector, where attempts to introduce changes in line with global developments are being resisted every step of the way.

There is definitely apathy from Nigerians towards the management of our economy by government functionaries. Projects executed on the behalf of the government are basically approved to benefit the officials, as against the general interest of the citizens.