A Naval Base Operations Officer, Lieutenant Commander Gideon Yashim Gwaza, has died while leading his men on rescue operation.
It all started on 30 July 2024, when the Nigerian Navy received a distress call from MV AMBIKA 4, a dredging vessel working at Okpobo field contracted to Sterling Global Oil Limited.
It was reported that the vessel was at the risk of sinking near Okpobo River entrance an area known to be turbulent at this time of the year.
Accordingly, Nigerian Navy Forward Operating Base BONNY deployed a Rescue Team comprising 10 armed personnel in 2 Interceptor Boats led by the Base Operations Officer Lieutenant Commander Gideon Yashim Gwaza, for the rescue operation.
Attempts to approach the distressed vessel proved challenging due to the force of the waves and another squadron of 3 boats was dispatched to reinforce the rescue team.
Additionally, another vessel, Nigerian Navy Ship GONGOLA, drones, Nigerian Navy Helicopters, and one Nigerian Airforce helicopter were deployed for the Search and Rescue mission.
Eventually, all 59 crew were rescued successfully but the Base Operations Officer, Lieutenant Commander Gideon Yashim Gwaza paid the supreme price.
He fell overboard accidentally during the rescue operation which lasted for about 10hours from midnight of 29 July 2024 to 1000 hours on 30 July 2024. The Nigerian Navy deeply mourns the loss of Lieutenant Commander Gideon Yashim Gwaza, who bravely risked his life to save others.
Lieutenant Commander Gwaza was a well-trained combat diver whose painful death reflects the risks and sacrifices of Nigerian Navy personnel towards the safety of Nigeria’s maritime domain. His dedication and sacrifice will forever be remembered.
Oil prices rose slightly in choppy trade on Monday after last week’s cut to U.S. interest rates and a dip in U.S. crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China.
Brent crude futures for November edged up by 16 cents, or 0.21%, to $74.65 a barrel by 1011 GMT. U.S. crude futures for November were up 21 cents, or 0.30%, at $71.21.
Oil prices were buoyed last week by the U.S. Federal Reserve’s decision to cut interest rates by 50 basis points and signal further cuts by end of the year, though weaker demand from China is limiting the upside, said Charalampos Pissouros, senior investment analyst at brokerage XM.
Both oil benchmarks rose more than 4% last week.
“Oil looks rangebound despite the uplift to risky asset prices from an outsized policy rate cut by the Fed last week,” said Harry Tchilinguirian, head of research at Onyx Capital Group.
“The market will look to flash purchasing managers’ index (PMI) releases in Europe and the U.S. for economic direction, and if these disappoint, then there is likely to be downward pressure developing on oil prices.”
Euro zone business activity contracted sharply and unexpectedly this month as the bloc’s dominant services industry flatlined while a downturn in manufacturing accelerated, a survey showed on Monday.
A softer economic outlook from top consumer China capped further gains.
“There was some hope earlier this morning that some additional Chinese monetary stimulus is likely in the short term, but the latest PMI out of Europe switched market sentiment from positive to negative,” said UBS analyst Giovanni Staunovo.
“I would expect oil to benefit this week from a large U.S. crude draw as result of elevated U.S. crude exports.”
However, heightened conflict in the Middle East could curtail regional supply.
The Israeli military launched its most widespread wave of airstrikes against Iran-backed Hezbollah, targeting Lebanon’s south, eastern Bekaa valley and northern region near Syria simultaneously after nearly a year of conflict.
“The market could continue to react to the escalating tensions in the Middle East as confrontations between Israel and Hezbollah continue. Heightened concerns over a broader conflict disrupting regional oil supplies could add upward pressure to the market,” said BDSwiss market strategist Mazen Salhab.
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