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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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'Taxes from energy companies w'll deal with inflation,' says Shell





By Akinola Ajibade


The Chief Executive Officer,Royal Dutch Shell, Mr Ben Van Beurden, says taxes from energy companies are huge enough to deal with spiralling inflationary rates in the world.

He  urged authorities to take from the rich to assist the poor, in order to stem the growing rates of inflation across the world.

According to him, the need for the government's intervention one way or the other is necessary, as the cost of gas skyrotted in the United Kingdom and across Europe.

Beurden, who spoke  at the Energy Intelligence Forum in London on October. 4, was quoted by Bloomberg as saying: “A government intervention that somehow results in protecting the poorest, that probably may then mean that governments need to tax people in this room to pay for it.”

Executives from the energy sector’s largest companies, including from oil and gas majors Saudi Aramco, ExxonMobil, and Chevron, among others, are in attendance at the two-day conference, which concludes on Oct. 6. A Shell spokesperson told Reuters van Beurden’s statement on taxation referred to companies, not individuals.

At the UN general assembly last month, UN secretary general António Guterres urged developed countries to tax the windfall profits of oil and gas companies, and use the money to combat loss and damage caused by the climate crisis as well as to assist people struggling with rising food and energy prices.

A similar message was shared by the United Nations Conference on Trade and Development (UNCTAD), which criticized central banks’ rapid increases in interest rates as pushing the global economy to the edge of recession. UNCTAD encouraged policymakers to use other tools to control inflation, such as windfall taxes, price controls, and antitrust measures.


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