L
LequteMan
Guest
Stringent conditions and terms tied to the new oil bunkering regime of the Federal Government are pushing potential investors away, with insinuations emerging that the regime was set up to better the fortunes of a few people, especially the friends of government.
“A good look at the conditions only sends a message; and that message is that only a small number of investors will meet the set terms and subsequently undertake the business,”a stakeholder said.
Some of the conditions listed by the DPR for potential investors in the business are that applicants for bunkering licences must show evidence of technical and financial capabilities which will be verified by the DPR; and shall have functional offices with technically efficient communication equipment/ facilities capable of supplying operational data in real time to a portal created by DPR in a format to be specified by the Department.
Bunkering is the process of supplying fuels, including but not limited to Automotive Gas Oil (diesel), Fuel Oil, Liquefied Natural Gas and lubricating oils to users in the marine environment, according to the DPR.
Due to illegal bunkering activities, FG had suspended bunkering operations in Nigerian territorial waters but had resuscitated the act in January 2014.
#Nigeria #Oil
“A good look at the conditions only sends a message; and that message is that only a small number of investors will meet the set terms and subsequently undertake the business,”a stakeholder said.
Some of the conditions listed by the DPR for potential investors in the business are that applicants for bunkering licences must show evidence of technical and financial capabilities which will be verified by the DPR; and shall have functional offices with technically efficient communication equipment/ facilities capable of supplying operational data in real time to a portal created by DPR in a format to be specified by the Department.
Bunkering is the process of supplying fuels, including but not limited to Automotive Gas Oil (diesel), Fuel Oil, Liquefied Natural Gas and lubricating oils to users in the marine environment, according to the DPR.
Due to illegal bunkering activities, FG had suspended bunkering operations in Nigerian territorial waters but had resuscitated the act in January 2014.
#Nigeria #Oil
