Page 17 - AfrOil Week 08 2023

AfrOil NEWS IN BRIEF AfrOil

PIPELINES & TRANSPORTS Group ESG Story, which aims to further inte- and energy investment between our two coun-
grate ESG into the company’s management tries. At the top of the agenda was the TAZAMA
First Nigerian seafarer strategy and promotes activities that contribute project,” Hichilema was quoted by Anadolu
to the achievement of the SDGs through busi-
Agency as saying.
appointed as captain ness activities. In March 2022, NYK released the Zambia imports all its crude oil needs from
updated NYK Group ESG Story 2022, which Europe and the Middle East via the port of Dar
of LNG carrier introduces initiatives for integrating ESG into es Salaam. The country’s current fuel needs
the Group’s management strategies set forth in exceed 1mn litres per day, and it has faced supply
On February 12, NYK Shipmanagement Pte Ltd the NYK Group ESG Story and provides a partial and storage capacity issues.
appointed seafarer Tanko Olanrewaju Usman as explanation of the Group’s sustainable growth bna/IntelliNews, 22 February 2023
its first Nigerian captain of the liquefied natural strategy from a long-term perspective.
gas (LNG) carrier LNG Ogun. To strongly promote ESG management, NYK
The vessel is on a long-term time charter to will continue the training of high-quality seafar- INVESTMENT
Nigeria LNG (NLNG). ers and the creation of employment for them, in
The development and advancement of Nige- addition to new value creation as a sustainable Gulf investors may buy
rian seafarers is a shared commitment by both solution provider.
NLNG and NYK in line with NLNG’s Nigerian- NYK, 21 February 2023 minority stake in Egyptian
isation journey.
Captain Tanko Olanrewaju Usman has been Zambia, Tanzania agree petrochemical company
a deck officer on board LNG carriers operated
and managed by subsidiaries within the NYK to fast-track upgrade of after merger
Group since 2007.
NYK has been promoting the training of sea- half-century-old joint Gulf investors have expressed interest in buying
farers, regardless of nationality and the promo- a minority stake in the merged entity between
tion of a Chief Officer to the rank of captain is TAZAMA oil pipeline two local petrochemical firms, Sidi Kerir Petro-
a tangible result of NYK’s efforts to support the chemicals (Sidpec) and the Egyptian Ethylene
appointment of senior management to high-risk The presidents of Zambia and Tanzania have and Derivatives Company (Ethydco) that was
vessels. agreed to fast-track the upgrading of the Tan- included in the government’s privatisation pro-
Captain Usman commented as follows: “I’m zania-Zambia Crude Oil Pipeline (TAZAMA) gramme last week. Al Mal newspaper reported
happy and excited to be promoted to a captain. pipeline, which has been running since 1968. citing high-level sources in the know. The size of
The journey to being a captain has been inter- The pipeline, also known as the Tanzania the stake on offer is 16-20% in the merged entity.
esting as well as challenging. Looking back to Zambia Mafuta, transports more than 1mn The majority state-owned, Egyptian Stock
when I started as a cadet with NYK, I am filled tonnes per year of crude oil from the port of Dar Exchange-listed Sidpec currently owns 20% of
with immense gratitude for how far I have come. es Salaam in Tanzania to the Indeni Refinery in Ethydco, making it the second-largest share-
NYK has provided me with a good working Ndola, Zambia. holder in the company, whose other share-
environment for a progressive sea career for Zambia’s President Hakainde Hichilema said holders are state-owned firms and financial
which I’m very grateful. in a statement on his official Facebook page that institutions.
“I would like to thank the management of he had met his Tanzanian counterpart, Samia Ethydco was established in 2011 and cap-
NYK LNG Shipmanagement (UK) Ltd and my Suluhu Hassan, on the margins of the 36th italised at $1.9bn to produce linear low- and
colleagues for their mentorship and encourage- Ordinary Session of the Assembly of the African high-density polyethylene and polybutadiene.
ment, my family for their sacrifice and patience, Union in Addis Ababa to discuss the upgrade, Last year, Sidpec expressed an interest in fully
and most importantly to God for without Him among other issues. acquiring Ethydco through a share swap to cre-
none of this would be possible.” “Our meeting was centred on strengthening ate a petrochemicals leader in Africa and the
In February 2021, NYK released the NYK bilateral relations in the area of trade facilitation Middle East.
bna/IntelliNews, 17 February 2023

POLICY

FT: Founder of Russia’s
Wagner group earned over

$250mn from African,

Middle Eastern resources

Yevgeny Prigozhin, the sanctioned founder of
the Russian mercenary PMC Wagner, generated
revenues of more than $250mn from natural
resources over the past four years, the Financial
Times has reported.

Week 08 23•February•2023 www. NEWSBASE .com P17