Connect with us

Oil & Gas

Arthur Eze’s firm explains suspension of oil exploration investment in Senegal *Decries govt’s insistence on $25m bank guarantee

Published

on

Prince Arthur Eze,

By Abdul-Ganiyy Akanbi

The management of Atlas Oranto Petroleum, the firm owned by a Nigerian energy entrepreneur, Prince Arthur Eze, has said that it suspended further investments in the St. Louis & Cayar Licenses in Senegal following the government’s insistence on US$25 million bank guarantee as against agreed corporate guarantee as being provided by other operators in the country.

The Senegalese authorities had revoked offshore exploration rights of the privately-owned upstream oil and gas firm with a view to reinforcing a tougher regulatory approach toward long-stalled licences, and enhancing regulation in its energy sector and rapidly monetize hydrocarbon resources.

The government alleged that the holder had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded.

Responding to the revocation of the license in a statement issued on Thursday, the management said that the Atlas Oranto Petroleum had committed over US$45 million in oil and gas exploration in Senegal.

“Till date, Oranto Petroleum has committed over US$45 million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract.

“Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa,” the management stated.

The company expressed reservations on why the Senegalese government will single it out for false narratives which it classified as “unfair, unjustified and targeted.”

Part of the statement reads: “Oranto Petroleum would like to use this opportunity to respond to the false narrative currently being perpetuated by the Government of Senegal on the St Louis & Cayar Offshore Licenses previously operated by Oranto Petroleum.

“As a matter of fact, Oranto Petroleum in 2025 decided to suspend any further investments in the St Louis & Cayar Licenses in Senegal after the Government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.

“For record purposes, till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract. These records exist and can be fact checked.

“It is worth mentioning that for reasons best known to the Government of Senegal, Oranto Petroleum has been singled out in this false narrative – this we classify as unfair, unjustified and targeted.

“We would like to use this opportunity to state that other foreign entities operating in Senegal are also facing challenges doing business in Senegal and this calls for concern.”

The management stated further: “It is worth noting that Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa.

“Oranto Petroleum as per business model remains an early explorationist focused on acreage derisking and later stage development in collaboration with third party Operators.

“Oranto Petroleum remains respectful for the rule of law in all jurisdictions where it operates and urges the public to disregard any narratives that continuously focuses on demarketing African investment opportunities geared towards the greater good of Africa and her citizens.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Oil & Gas

Niger state Mineral Resources Commissioner visits solid minerals sector to identify mining operations in Katcha LGA

Published

on

By

Niger State Commissioner For Mineral Resource, Mohammed Qasim

By Uthman-Baba Naseer,Minna

The Niger State Commissioner For Mineral Resource, Mohammed Qasim, has embarked on regulatory oversight in the solid minerals sector with a strategic inspection and compliance enforcement visit to identified mining operations in Katcha Local Government Area.

The field exercise, undertaken alongside Directors and senior technical officers of the Ministry, was aimed at strengthening on the ground supervision, ensuring strict adherence to mining laws, and reinforcing the State Government’s commitment to responsible and sustainable mineral resource development.

The inspection covered major mining sites located in Gada Eregi Village, including Avti Commodities Limited Mining Site and Alhaji Baba Ndaman & Families Mining Site, both of which are currently engaged in mineral extraction activities within the area. The visit forms part of the Ministry’s continuous drive to sanitize the sector, curb illegal operations, and promote best practices in line with national and state regulatory frameworks.

During interactive sessions with management representatives of the two mining companies, the Honourable Commissioner observed and documented serious regulatory infractions, operational lapses, and instances of non compliance with established mining and environmental guidelines. In response to these findings, Hon. Danjuma ordered the immediate suspension of all mining activities at the affected sites in Gada Eregi Village, pending a thorough review and the attainment of full regulatory clearance from the Ministry.

Addressing stakeholders at the sites, the Commissioner reiterated the unwavering position of the Niger State Government that no mining operation will be allowed to function outside the ambit of the law. He stressed the need for strict compliance with licensing requirements, environmental protection standards, safety of host communities, and alignment with the developmental objectives of the State.

According to him, the Ministry will continue to take decisive actions against illegal and non compliant operators, noting that such activities not only undermine government revenue but also pose serious environmental and security risks to local communities.

He further emphasized that the ongoing enforcement drive is designed to reposition the solid minerals sector as a viable contributor to economic growth, job creation, and sustainable development, while safeguarding the interests of host communities and future generations.

The inspection and enforcement action are in line with the vision of His Excellency, Farmer Governor Umaru Mohammed Bago, and the New Niger Agenda, which prioritizes responsible resource governance, environmental sustainability, institutional accountability, and inclusive economic development across the State.

Continue Reading

Oil & Gas

PC-NCG Praises CVFF Launch, Pushes for Coast Guard Establishment

Published

on

By

By David Owei,Bayelsa

The Chief Executive and Accounting Officer of the Provisionary Committee of the proposed Nigerian Coast Guard (PC-NCG), Capt. Noah Ichaba has praised the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, over the recent launch and unveiling of the Cabotage Vessel Financing Fund (CVFF) Application Portal to be accessed by Nigerian ship-owners

In a statement issued by the Director of Communications & Public Affairs, Dr. Piriye Kiyaramo on Monday in Abuja, Capt. Ichaba, who described the official launch and unveiling as a historic step, urged the federal government to exercise maximum political will to expedite the establishment of the Nigerian Coast Guard, which according to him, remains the longest-hope of Nigeria’s maritime business community.

“Coast Guard is the longest and singularly recognized agency by its organizational and occupational name, because, it will be primarily and wholly responsible for Nigeria’s Maritime Law Enforcement, Security and Safety Operations that have been neglected by past administrations despite its duties, functions and role, being crucial and critical to the Nigerian Maritime Business, particularly that, it will protect the flow of over 80-90% of global trade, prevent costly disruptions from piracy, terrorism, theft and safeguard billions in assets and human lives.

“The creation of Coast Guard is the next impending history that this current administration can not afford to allow it to slip off her performance scorecard. The establishment of Coast Guard is actually a primary and binding contract that the government owes her citizens and the maritime community due to its identity, purpose, and destiny.

“The need to create Coast Guard predates the Nigerian Maritime Business itself, but previous governments disappointed themselves by failing to do the needful. This obvious constraint limited and prevented fast, steady, and sustained progress for the Nigerian Maritime Domain.

“Glad that NIMASA came on-board and she is holding a pattern for Coast Guard as a Regulatory Agency, because, the Cabotage Vessel Financing Fund (CVFF) is directly linked to Coast Guard function which the Agency is performing in the absence of Coast Guard like responsibilities in maritime safety, security and statutory enforcement.

“The appreciative relationship between the CVFF and the Coast Guard function that NIMASA is saddled with is reflected in areas such as: Fund Administration and Regulatory Oversight (Coast Guard Function): Acting
regulatory and Coast Guard capacity, NIMASA administers the CVFF in accordance with the 2006 CVFF Guidelines under Section 44 of the Coastal and Inland Shipping (Cabotage) Act, 2003.

“This aims to build indigenous ship acquisition capacity and provide financial support to local operators for acquiring, constructing, and repairing vessels and including vetting applicants, approving eligible ship-owners, and ensuring that funds are used strictly for acquiring vessels intended for Cabotage trade, thereby strengthening national maritime capacity.

“NIMASA, in its Coast Guard-related enforcement role, collects the statutory 2% surcharge on contract sums performed by vessels engaged in coastal and inland shipping. This collection is enforced as part of its broader mandate to regulate and control maritime commercial activities within Nigerian waters.

“Vessels financed under the CVFF must comply with Cabotage requirements and NIMASA regulations, including Nigerian ownership, registration, manning, and technical specifications. As part of its Coast Guard role, NIMASA ensures that these vessels meet national safety, security, and seaworthiness standards before being allowed to operate.

“In its Coast Guard capacity, NIMASA conducts maritime surveillance, port state control and safety inspections to ensure that CVFF-funded vessels comply with international and national maritime safety and security conventions both before and after fund disbursement.

“Through its Cabotage Services and Maritime Safety departments, NIMASA enforces compliance with the Cabotage Act and other maritime laws, ensuring that only eligible, compliant, and properly secured vessels particularly those benefiting from the CVFF-operate within Nigerian coastal and inland waters.

“In essence, NIMASA, acting as Nigeria’s de facto Coast Guard and maritime regulatory authority, utilizes the CVFF not only as a financing mechanism but also as a policy and enforcement tool to strengthen indigenous shipping capacity, safeguard maritime security, and ensure strict compliance with national safety, security, and Cabotage regulations.

“On this commendable note, PC-NCG is inclined to crave the benevolence of relevant authorities to be deliberately committed to strategic steps for the immediate
establishment of Coast Guard, so as to solidify all efforts made and to concretely sustain envisaged outcome of repositioning of Nigeria’s maritime sector as a central pillar of national development, achieving the objective of diversifying national economy, unlocking the vast potential of Nigeria’s maritime domain, opening of opportunities for increased coastal resources and to draw huge benefits from inland waterways activities.

“Birthing the proposed Agency be considered an obligation to the Creator, the maritime environment, the lives involved, the vibrant entrepreneurial base, the global maritime commerce and the various platforms, equipment, installations, employments, tourism and Nigeria’s strategic geographic location and many more.

“The passionate appeal here is that, it is verily hoped that all levels of decision-making bodies choose to account their stewardship to the Ultimate Authority and Supreme Creator by setting aside repetitive, ridiculous and encumbering deductions, which are energy drainers, goal terminators, obstinate impediments and inducers of sickening breath,” Captain Ichaba maintained.

Continue Reading

Oil & Gas

MOSIEND Laments Neglect, Marginalization Of I jaw Communities By Government, Oil Companies

Published

on

By

Comrade, Eli Eli Stanley, Former Chairman Eastern Zone,MOSIEND and other members of the group in protest march against government neglect of yhe region

By David Owei, Bayelsa

The Leadership of the Movement For the Survival Of Izon Ethnic Nationality in the Niger Delta, MOSIEND, Eastern Zone, has decried what it described as total neglect, underdevelopment, lack of empowerment, and untold hardship they have been deliberately subjected to by oil exploration companies and the River State Government.

The stakeholders also lamented over the deplorable state of the community roads and lack of provision of basic infrastructure by government interventionist agencies.

Speaking during the MOSIEND Half Hour Radio Programme, on Rhythm built to help amplify the everyday challenges facing the Ijaw communities in the Eastern Zone, Comrade, Eli Eli Stanley, Former Chairman Eastern Zone,MOSIEND representing Agwutobolo clan, and Comrade Emilia Erasmus , Treasurer Eastern Zone, Ikurru Clan in Andoni LGA, Rivers State, made their grievances known.

In their separate views, they accused government, the multinationals, NDDC, the Niger Delta Basin Development Authority, of continually promoting unfavorable policies and programmes to undermine the development of the community.

Comrade, Eli Eli Stanley, stated that the communities under their clans have been totally shut out of government presence, making life unbearable for the people.

He noted that the women are mostly hit by this hardship, adding that human capacity building that would have help for their survival are hardly seen.

“NDDC hasn’t done anything thing meaningful for our people, there’s no such thing concerning development, there’s no power supply in our communities, we don’t have roads, we re urging government to come to our aids”

We are mainly fishermen, and that is our main essence of survival but no provisions of basic amenities. Provision of boat, fishing nets and other things would have help in providing food for our family and livelihood but reverse is the case. We are peace loving people and we deserve assistance from government at all levels.

The Government Intervention Agencies should have a representative office at local the government level for effective engagement and responses so we can have a feel of government.

Comrade Emilia, also lamented the unavailability of sources for portable drinking water and Schools, adding that the only school we have is a dilapidated building.

” No Portable drinking water, No power supply, the whole community is a shadow of itself, despite hosting oil company”

No health facilities in our communities, if there are health challenges we have to travel far to other Local Government Areas to get services.

“We need health facilities, fishing is our only source of livelihood, so government should provide us boat, fishing net and others.
Portable Drinking
Water and Power supply

Continue Reading

Latest

Law & Crime7 hours ago

CP Elleman backs restriction of court prosecutions in Niger state to qualified lawyers …says it ll improve administration of criminal justice

BY UTHMAN BABA- NASEER,MINNA The Commissioner of Police in Niger State, CP Abdullahi Adamu Elleman, has expressed support for the...

Oil & Gas8 hours ago

Niger state Mineral Resources Commissioner visits solid minerals sector to identify mining operations in Katcha LGA

By Uthman-Baba Naseer,Minna The Niger State Commissioner For Mineral Resource, Mohammed Qasim, has embarked on regulatory oversight in the solid...

Law & Crime8 hours ago

Audit Report Indicts Six FCT Area Councils Over N100 Billion Financial Infractions -Reps Summons Chairmen

By Our Correspondent In its bid to rid the country of corruption, an Audit Report by the Auditor-General for the...

Politics9 hours ago

INEC, Security Agencies Intensify Coordination Ahead of 2026 Polls

By George Mgbeleke The Independent National Electoral Commission (INEC) has called for heightened security coordination and vigilance as Nigeria enters...

Politics11 hours ago

Bayelsa Exco Holds Valedictory Session For Ex-Commissioner

By Owei David, Yenagoa The Bayelsa State Executive Council, on Friday, held a special valedictory session in honour of a...

Politics11 hours ago

NIGER AT 50: NLC Congratulates Niger State Govt,Nigerlites

NIGER AT 50: NLC Congratulates Niger State Govt,Nigerlites BY UTHMAN BABA-NASEER,MINNA Chiaman Nigeria Labour Congress Niger State Chapter, Comrade Abdulkareem...

Law & Crime11 hours ago

200 Kwara residents killed by Islamists: HURIWA asks President Bola Ahmed Tinubu to embargo all foreign trips this year*

By Ignatius Okorocha,Abuja With nearly 200 people killed on Wednesday by Islamic terrorists ​in separate attacks in remote villages in...

Sports12 hours ago

NDDC Completes Facilities Upgrade in Benin for 2nd Niger Delta Games

By David Owei ,Bayelsa Edo State is already reaping the benefits of hosting the 2nd edition of the Niger Delta...

Uncategorized12 hours ago

Governor Adeleke to Police: Unseal Amotekun to Contain Banditry, Kidnapping

By David Owei, Bayelsa Governor Ademola Adeleke has warned against spillover of banditry and kidnapping from Kwara state into Osun,...

Politics13 hours ago

Electoral Act: Why NASS must adopt Real-time Electronic Transmission of Results-SDP …..legislative mandate is what Citizens demand

By Our Correspondent Worried by the alleged rejection of electronic transmission of election results at the Polling Units in the...

Trending