Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Adams Natural Resources Fund Inc    PEO

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Adams Natural Resources Fund : Dickson Urges Govt to Prevail On Shell to Pay Debts Owed Bayelsa

share with twitter share with LinkedIn share with facebook
share via e-mail
10/05/2017 | 01:06pm CEST

The Bayelsa State Governor, Henry Seriake Dickson, has called on the federal government to prevail on the Shell Petroleum Development Company (SPDC) to pay its outstanding debts to the Bayelsa State Government.

According to a Government House press statement, signed by Francis Ottah Agbo, the governor made the call recently at a meeting with the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and top officials of the firm.

The governor said the meeting with the minister was important, because he was in a strategic position to use his goodwill to persuade the multinational oil firm to pay statutory bills and levies, which the company stopped paying after making an initial payment several years ago.

The agenda of the meeting was the enforcement notice for the Gbaraun-Ubie Integrated Oil and Gas facility among others.

Governor Dickson noted that, the SPDC had acquired a property close to the size of Lagos Island in the state, without making the necessary payments to the relevant agencies of the government.

While stressing that, his government has created a conducive environment for investments to thrive, Governor Dickson reiterated his calls on multinational oil companies operating in the Niger Delta to show more seriousness and commitment to the development of their host communities.

He said the call became imperative, because the oil/gas company has a key role to play in the development of Bayelsa State and the Ijaw nation.

In his response, the representative of the SPDC, Mr. Abubakar Ahmed, expressed the willingness of SPDC to engage more with the state government, in order to resolve the lingering dispute.

The minister advised the two parties to suspend all court cases relating to the matter and meet in two weeks to resolve the matter.

In a separate meeting with the Minister and top management staff of ENI/NAOC, also known as AGIP in Abuja, pointing out that, the meeting focused on investment opportunities in Bayelsa State, the Brass LNG project, the proposed 150,000 bpd Refinery and two 25 MW power plants being embarked upon by ENI/NAOC as well as the Bayelsa State Industrial Park.

He also called on the IOCs for support in some of his major projects, such as the Education Development Trust Fund and the Health Insurance Scheme.

The governor, who commended ENI/NAOC for their huge investments in the state, said the government was committed to providing the conducive environment for investments in the state.

In his remarks, the representative of the Managing Director of ENI/ NAOC, Marco Rotondi said, the company was making efforts to commence the construction of a150 bpd refinery in the state.

He also assured the governor that the oil firm would ensure the completion of two 25mws power plants, as part of its investment in the state by the end of 2018.

The governor was accompanied to the meetings by top government functionaries and the Amayanabo of Twon Brass, His Royal Majesty, Alfred Diete Spiff.

Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

share with twitter share with LinkedIn share with facebook
share via e-mail
10:06aADAMS NATURAL RESOURCES FUND : Nigeria's Oil Industry - Removing the Shroud
07/12ADAMS NATURAL RESOURCES FUND : Falana gets information on N4.6b fuel drained dai..
07/12ADAMS NATURAL RESOURCES FUND : Falana Accuses NNPC Boss, Baru of Insubordination
07/12ADAMS NATURAL RESOURCES FUND : Amidst NNPC’s recalcitrance
07/09ADAMS NATURAL RESOURCES FUND : Rumpus over missing allocations
07/07ADAMS NATURAL RESOURCES FUND : Mitee, Others Petition Osinbajo over Ogoni Clean-..
07/06ADAMS NATURAL RESOURCES FUND : Elders warn against resumption of oil production ..
07/06ADAMS NATURAL RESOURCES FUND : Provincial government announces BC Hydro review
07/05ADAMS NATURAL RESOURCES FUND : Mitee, others petition Osinbajo over planned resu..
07/05ADAMS NATURAL RESOURCES FUND : Ogoni elders petition Osinbajo over move to trunc..
More news
News from SeekingAlpha
07/11Metals whacked on worries more U.S. tariffs on China could dent demand 
07/01Stock Market & Economic Outlook For Mid-Year 2018 
06/21Basic Materials Seem To Be On Sound Footing With Home Construction Boom 
06/05THE CHEMIST'S CEF REPORT - MAY 2018 : Fixed Income CEFs Continue To Get Cheaper .. 
05/18Commodities Recap For The Week Of May 18, 2018 
Duration : Period :
Adams Natural Resources Fu Technical Analysis Chart | PEO | US00548F1057 | 4-Traders
Technical analysis trends ADAMS NATURAL RESOURCES FU
Short TermMid-TermLong Term
Mark Edward Stoeckle Chief Executive Officer & Director
James Philip Haynie President
Kathleen T. McGahran Non-Executive Chairman
Dennis D. Stewner Chief Operating Officer
Brian S. Hook Chief Financial Officer, Treasurer & VP