*Say ‘No to 10% equity participation’
Executive National Chairman, Host Communities of Nigeria, Producing Oil and Gas, HOSCON, Prince Mike Emuh, has urged the National Assembly, NASS, to stipulate that 2.5 per cent per Flow Station production quantum be given to producing host communities to enable them access crude oil to administer the modular refineries recommended for the 11 oil and gas producing states.
Emuh, who spoke the backdrop of the guarantee by Senate President, Senator Ahmad Lawan, that the Petroleum Industry Bill, PIB, would be passed before the end of this month (June), told NDV: “In the memorandum of HOSCON delivered to NASS, we advocated for 2.5 per cent per flow station production quantum to be given to the producing host communities in order for the host communities to have access to crude oil to run the modular refineries being proposed by HOSCON across the 11 oil and gas producing states.
“In totality we say no to 10 per cent equity participation because the host communities cannot afford it, as it is the responsibility and duties of NNPC and Federal Ministry of Petroleum Resources,” Emuh stated.
The HOSCON chairman also urged the National Assembly to make it obligatory for International Oil Companies, IOCs, and National Oil Companies, NOCs, functioning in Nigeria to site their corporate headquarters in different expanses of operations in the oil and gas producing states.
“The IOCs and NOCs should relocate their corporate headquarters to their various areas of operations and bases in the oil and gas producing states as they have no business outside their field of operation.”
“They are not getting their crude oil for their operation where they currently reside their corporate offices. The relocation of their corporate offices to their areas of operations will create the needed employment and development for the host communities.
SOURCE: vanguardngr.com