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Gas Flaring and its Environmental Impact: A Critical Look at IOCs’ Practices

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Gas Flaring and its Environmental Impact: A Critical Look at IOCs' Practices

Gas flaring, a common practice in the oil and gas industry, has drawn significant scrutiny due to its adverse environmental impacts.

In many regions around the world, International Oil Companies (IOCs) resort to gas flaring as a means of disposing of associated natural gas during oil extraction.

This practice has resulted in severe consequences for both the environment and the communities residing near these flaring sites.

In this blog post, we delve into the concept of gas flaring and the notion of ‘environmental genocide,’ examining the gravity of its effects on our planet and the affected communities.

Understanding Gas Flaring

Gas flaring involves the burning of natural gas that cannot be efficiently processed or captured during oil extraction.

This process releases carbon dioxide, methane, and other harmful gases into the atmosphere, contributing to global warming and climate change.

While some IOCs claim that flaring is necessary for safety reasons and routine oilfield operations, the scale of the practice and its impact on the environment and human health raise significant concerns.

The Plight of Impacted Communities

The detrimental effects of gas flaring extend far beyond climate change. Local communities living in close proximity to gas flaring sites endure serious health hazards due to prolonged exposure to toxic air pollutants.

Respiratory problems, skin disorders, and a range of other health issues have been reported among those affected. The inability of these communities to access clean air and water has become a pressing public health issue, exacerbating already vulnerable living conditions.

The Environmental Genocide Allegation

The term ‘environmental genocide’ has been used by some activists and experts to describe the devastating impact of gas flaring on the environment and communities.

While the term may not be legally recognized, it underscores the grave concern that gas flaring disproportionately affects marginalized communities, often in developing countries, where IOCs operate.

These communities experience the brunt of environmental degradation, making the term ‘environmental genocide’ a powerful call for attention to the severity of the situation.

 

READ ALSO: Fidelity Bank Stock Upgrade Excites Investors

 

The Need for Regulation and Accountability

Addressing the issue of gas flaring requires a comprehensive approach involving stricter regulations and increased accountability on the part of IOCs.

Governments and international bodies must collaborate to enforce environmental standards, impose penalties for excessive flaring, and incentivize companies to invest in cleaner technologies that capture and utilize associated gas.

Promoting Sustainable Solutions

Recognizing the urgency of the situation, some IOCs have taken steps towards reducing gas flaring and implementing sustainable solutions.

Flare gas recovery projects aim to capture and utilize associated gas for power generation or other industrial applications, reducing emissions and waste.

Additionally, advancements in technology and greater transparency from IOCs have the potential to minimize the environmental and social impact of their operations.

Conclusion

Gas flaring remains a contentious issue, with its consequences on the environment and communities sparking heated debates.

The notion of ‘environmental genocide’ brings to light the urgent need for concrete action to address this pressing concern. It is imperative for governments, IOCs, and civil society to work together in finding sustainable solutions that mitigate the adverse effects of gas flaring.

By prioritizing environmental protection and the well-being of affected communities, we can collectively pave the way towards a more sustainable and responsible future in the oil and gas industry.

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#CHIVIDO24: See Loved Up Photos From Davido and Chioma’s Pre-wedding Photoshoot

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Naijanewsngr reports that Davido and Chioma have released their pre-wedding snapshots and videos, asserting that their wedding, which is scheduled for the 25th of June, 2024, is OFFICIAL.  Fans have tagged the wedding to be the final bus stop for a love that stood the test of time. They have asserted that the four year wait after the release of Davido's song 1 Milli where he featured his now Fiance, has been worth it.  See pictures and Videos from the Pre-wedding photoshoot;

 

Naijanewsngr reports that Davido and Chioma have released their pre-wedding snapshots and videos, asserting that their wedding, which is scheduled for the 25th of June, 2024, is OFFICIAL.

 

Fans have tagged the wedding to be the final bus stop for a love that stood the test of time. They have asserted that the four year wait after the release of Davido’s song 1 Milli where he featured his now Fiance, has been worth it.

 

See pictures and Videos from the Pre-wedding photoshoot;

#CHIVIDO24: See Loved Up Photos From Davido and Chioma's Pre-wedding Photoshoot

#CHIVIDO24: See Loved Up Photos From Davido and Chioma's Pre-wedding Photoshoot

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AREN’T THEY BEAUTIFUL!!

 

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Dangote Refinery to set up terminal in the Caribbean for export of petroleum products

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Dangote Refinery to set up terminal in the Caribbean for export of petroleum products

Dangote Refinery to set up terminal in the Caribbean for export of petroleum products

Dangote Refinery is planning to set up a terminal in the Caribbean to export petroleum products to countries in the North American region.

Aliko Dangote, the president and CEO of the refinery, made this disclosure on Wednesday at Afreximbank’s Trade and Investment Forum in The Bahamas.

The business mogul said the company can easily supply petroleum products to the region within 18 to 20 days.

According to Africa’s richest man, the company will sign a bilateral agreement with the region to construct the terminal for the exportation of its petroleum products.

“I know the price in the Caribbean in terms of petroleum products is very high. We produce it cheaply. We can always bring it here. We can set up a terminal and we’ll be able to fix their needs.

“We will have a bilateral agreement with them and also bringing in stuff from there is not more than 18 to 20 days maximum. And then we need to set up a terminal.

“Once we set up a terminal, they will have a very cheap oil. They will have cheap energy. And by having cheap energy, their own economy will grow faster,” Dangote said.

Dangote to also export Cement to the Region
In addition, the CEO of the $20 billion refinery mentioned that the conglomerate is not only seeking to invest in petroleum products in the region but also in cement.

Dangote stated that the company’s cement production capacity is nearly 52 million tons and will increase to about 62 million tons by the end of next year.

He added that the firm can meet the demand of the Caribbean market, creating a win-win situation for both parties.

“It’s not only about the oil. We now have a capacity of almost 52 million cement capacity. By the end of next year, we will be at 62 million of cement capacity. We are not only saying that we can bring in from Nigeria or from Africa.

“If they have limestones, we can also produce what can satisfy them. We’ve done that before in Africa and we should be able to free them up from the shackles of other people.

“If we the ingredients like the limestones etc, it’s a 28 months maximum. They can all be self-sufficient. It will be a win-win between us and them,” Dangote said.

What you should know
The Dangote refinery with a 650,000 barrel refining capacity has been described as the “game changer” of the oil and gas sector.
The refinery will be the largest in Africa and Europe once it begins full operation later next year.
According to reports, the $20 billion petroleum facility is expected to disrupt the $17 billion Africa-European market and reduce the continent’s dependence on imported petroleum products from Europe.
In addition, Dangote stated that the company is also eyeing the Brazilian market and other North American countries to supply refined products from the refinery.
“Our capacity is too big for Nigeria. It will be able to supply West Africa, Central Africa and also Southern Africa,” Dangote said in a panel discussion in Rwanda a few weeks ago.

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Dangote Refinery Mulls Lagos, London Stock Exchange Listings

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Dangote Refinery to set up terminal in the Caribbean for export of petroleum products

Dangote Refinery Mulls Lagos, London Stock Exchange Listings

The Dangote refinery is aiming for a dual listing on the London and Lagos bourses, a senior executive at the firm, Devakumar Edwin, has told Reuters.

Africa’s richest man and Chairman of the group, Aliko Dangote was earlier on Tuesday, quoted as saying he could try to list the company in Nigeria by the end of the year.

It is coming about six months after Dangote, also told the Financial Times of his intentions to publicly list the subsidiary of the Group, Dangote Petroleum Refinery on the Nigerian Exchange Limited.

At the time, Dangote stated that the company had resolved challenges about crude oil supply and was prepared for the listing.

The billionaire businessman already has some companies listed on the NGX, including Dangote Cement, Dangote Sugar Refinery and Nascon Allied Industries.

The refinery managers said there was need to approach the London Exchange because the Nigerian bourse may not have the capacity to handle it exclusively.

Asked to comment on Dangote’s statement to local media, Edwin told Reuters: “We have listed all our businesses. The NSE (Nigerian Stock Exchange) will not have adequate depth to handle exclusively the petroleum refinery. We would have to take it to LSE (London Stock Exchange) but also list in NSE.”

The refinery, Africa’s largest, built on a peninsula on the outskirts of the commercial capital Lagos at a cost of $20 billion, was completed after several years of delay.

It can refine up to 650,000 barrels per day (bpd) and will be the largest in Africa and Europe when it reaches full capacity this year or next.

Dangote has been trying to secure crude supplies for his refinery. He has interests in Dangote Cement, Dangote Flour Mills and Dangote Sugar, all listed on the Nigerian bourse.

In May, the company reached its first supply deal with TotalEnergies, after it put out a tender for 2 million barrels of West Texas Intermediate (WTI) Midland crude every month for a year starting in July, according to tender documents.

The company since earlier in the year, has been refining diesel, jet fuel and other petroleum products and is expected to begin the production of petrol in June.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPC) has said it recorded 310 cases of crude oil theft in the past week.

In its weekly update on the activities of the national oil company, the NNPC said that the cases were discovered between May 18 and May 24.

“Between May 18 and 24, 310 cases were recorded across the Niger Delta region by several incidence sources,” the NNPC stated.

In Grey Creek, Akwa Ibom state, it said a fuel station selling illegally refined fuels into cans and drums was uncovered in the past week, revealing that 122 illegal refineries were also uncovered in Bayelsa and Rivers states

According to the company, they were spotted in Tombia II, III, IV, and Umuajuloke, in Rivers state; Iduwini, Biogbolo, and Ajatiton, in Bayelsa state, while 65 illegal connections were discovered across several locations in Akuwa Odoka, Umuajuloke, and Watson Point, also in Rivers state as well as along Soku Sand Barth pipeline in the state.

It added that vandalised wellheads were discovered in Tombia IIII in Rivers state and Egbema in Imo state, where a pit filled with crude oil from a vandalised wellhead was discovered.

In Ndoni, Rivers state, NNPC said it uncovered a vandalised pipeline channelled to a nearby oil pit, while five illegal storage sites were spotted in sacks, pits, cans, and in a fuel station.

The NNPC stated that 20 vehicle arrests were made in Delta and Imo states while 48 infractions were reported at sea. Also, 39 wooden boats conveying stolen crude or illegally refined products were seized and confiscated across several creeks in Bayelsa and Delta states, it said.

NNPC said 48 of the incidents occurred in the deep blue water, 40 in the western region, 134 in the central region, and 88 in the eastern region.

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