Page 14 - DMEA Week 17 2022

DMEA NEWS IN BRIEF DMEA

a refining and chemicals hub in Abu Dhabi to Friday when operators and their patrons had payoffs, alleging that the management of the
find additional outlets for its oil and natural gathered for business. The incident happened NNPC, the supervisory agency had refused to
gas production and to make the plastics and on the boundary between Rivers and Imo yield to their demand for regularisation over
components that will go into consumer goods. states, a state police spokeswoman said. the years.
Austrian oil producer OMV AG will “The fire outbreak occurred at an illegal Some held tree branches while others
continue to hold the largest stake in Borealis, bunkering site and it affected over 100 wielded placards with different inscriptions
at 75%, with Adnoc taking control of people who were burnt beyond recognition,” expressing their misgivings.
Mubadala’s 25% holding. Neither Adnoc confirmed Goodluck Opiah, the state Calling on the Group Managing Director
nor Mubadala, a government-owned fund commissioner for petroleum resources, as of the NNPC, Mele Kyari, to address the issue,
based in the United Arab Emirates, disclosed quoted by AFP. the protesters said that activities would not
financial terms of the deal. Illegal refining has led to many such fatal resume in the company until their demands
While the transaction merely shifts the accidents and has polluted a region already were met.
stake from one Abu Dhabi entity to another, blighted by oil spills in farmland, creeks One of the protesters said “the workers
it fits with the strategic aims of the two and lagoons. In October, at least 25 people, want to leave the job and want the
government-owned companies. Buying into including some children, were killed in an management to pay them off since their
Borealis will allow Adnoc to increase control explosion and fire at another illegal refinery in services are no longer needed.
over plastics maker Borouge, as that venture Rivers state. “On the ground that the management still
plans to list on the Abu Dhabi stock exchange Most people in the Niger delta live in wants our services and want to keep us, we
later this year. Borouge, which would be poverty even though Nigeria is the biggest oil demand for our conversion from casual staff
valued at about $20 billion, is jointly owned by producer on the continent, producing around to permanent staff,” he said.
Adnoc and Borealis. 2mn barrels per day (bpd). Government The aggrieved workers protested over the
For Mubadala, the transaction is part of officials estimate that the country loses an same issue in 2019 and in 2020 without a
the company’s effort to streamline its holdings average of 200,000 bpd of oil - about 10% of resolution.
in oil refining and chemicals after acquiring production - to those tapping or vandalising PULSE
assets in that industry following the takeover pipelines.
of another Abu Dhabi government fund In February, local authorities said they Domestic producers
International Petroleum Investment Co. in had started a crackdown to try put a stop to
2017. Since then, Mubadala has sold a stake in the refining of stolen crude, but with little meet 75% of Bid Boland
a Spanish refiner and said it would also offload apparent success, reported AFP.
its holdings in a Japanese oil processor. BNE equipment needs
BLOOMBERG
Casual workers ground Managing Director of Iran’s Persian Gulf Bid
Boland Gas Refinery Ali-Mohammad Pour-
activities at Warri Refinery and items used in the refinery are supplied by
REFINING Reza has said 75 percent of the equipment
Explosion at illegal refinery Hundreds of casual workers at the Warri domestic manufacturers, Shana reported.
Refining and Petrochemical Co. (WRPC)
According to Pour-Reza, the refinery
kills more than 100 grounded activities at the facility on Thursday supplies its necessary items from domestic
producers and manufacturers in line with
over the company’s failure to regularise their
More than 100 people were killed in an appointments. the realization of the slogan of the previous
explosion on April 22 at an illegal oil refining The protesters, some of whom had year which was “Production: support and the
depot in Nigeria’s Rivers state, according to served the company for about 28 years elimination of obstacles”, which in addition to
local reports, AFP reports. demanded the immediate regularisation of supporting domestic production, has saved
Unemployment and poverty in the oil- their appointments from casual to regular the country a significant amount of revenue.
producing Niger Delta have made illegal employees. The official also noted that his company
crude refining an attractive but dangerous They also demanded salary increment, has formed a specialized committee in
business, whereby crude oil is tapped from payment of all outstanding allowances, better order to identify capable knowledge-based
pipelines owned by major oil companies and working conditions and improved welfare companies and start-ups for cooperation in
refined in makeshift tanks. among others. meeting the refinery’s technological needs.
Police said the explosion occurred late on Some of them demanded for outright Persian Gulf Bid Boland Gas Refinery in

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