Oil & Gas

PENGASSAN serves strike notice over labour issues

The Petroleum and Natural Gas Senior Staff Association of Nigeria has issued a 21-day ultimatum to employers in the oil and gas industry to address lingering anti-labour issues or face a nationwide strike.


PENGASSAN issues 21-day  nationwide strike notice

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened a nationwide over what it termed anti-labour practices by several oil companies operating in the country.


2.3 million oil production target achievable —Udoma

The Minister of Budget and National Planning, Senator Udo Udoma, has said that the target of 2.3 million barrels per day oil production volume for the 2018 fiscal year is achievable.


Rescue of NNPC staff: Army apologises, says misinformation not deliberate

The Nigerian Army has apologised for misinforming Nigerians about the rescue of 10  Nigerian National Petroleum Corporation workers that were kidnapped by Boko Haram recently.


Osinbajo orders oil workers’ rescue, Army recovers 21 more corpses

The  Nigerian Army on Sunday said it had recovered 21 additional bodies in an operation to rescue oil exploration crew abducted by the Boko Haram insurgents in Borno.


NEW ROAD MAP: FG, IOCs earmark N2trn for 457 projects in N’Delta

MONTHS after the Acting President, Prof Yemi Osinbajo’s fact-finding tour of Niger-Delta, the Federal Government has come up with a two-year Strategic Implementation Work Plan, SWIP, involving the execution of 457 short, medium and long-term projects, to the tune of N2,065,140,035,959, across the nine states of the region, starting from this year. Osinbajo


FG adopts $11bn Dangote refinery under new petroleum policy

The Federal Government has adopted the $11billion Dangote refinery, under its new National Petroleum Policy in order to add value to crude oil, reduce high dependence on imported petroleum products and conserve foreign exchange for other developmental projects.


New Policy Seeks Significant Drop in Oil Production Cost to $10/bbl

Contents of Nigeria’s new national petroleum policy recently approved by the Federal Executive Council (FEC) and obtained by THISDAY has revealed that the country would be seeking to significantly reduce the cost of producing a barrel of crude oil in her fields to $10 from the current $27, which it considers not quite competitive.


Katsina to establish refinery – Commissioner

Katsina State Commissioner of Commerce, Industry and Tourism, Alhaji Abubakar Yusuf has on Sunday disclosed plans by the Governor Aminu Bello Masari’s led administration to establish a refinery in the state.


African LNG exports to get boost from offshore projects

Cameroon plans to begin exporting liquefied natural gas later this year using a newly designed offshore plant that analysts say could slash production costs and unlock African reserves not previously considered economically viable.


Shell shuts down Europe’s largest refinery after fire

The British-Dutch oil giant Shell said it was shutting down Europe’s biggest refinery after a pre-dawn fire broke out at a power station on the vast site on Sunday.

OPEC Cut, Resumed Militancy Pose Danger to Nigeria’s Oil Output

In the course of the week, two crucial developments with the propensity to affect Nigeria’s crude oil production and, thus, its execution of the 2017 budget marks, took place.


Without Deeper Output Cut, Crude Projected to Fall Below $40/bbl in Q1 2018

Crude Oil, Brent Crude in particular, is projected to fall to $40 per barrel or below in the first quarter of 2018, except the Organisation for Petroleum Exporting Countries (OPEC) implements  a deeper cut in oil production.


Ijaw Youths Threaten to Halt Agip Operations in Bayelsa

Two oil-bearing towns in Bayelsa State at the weekend threatened to shut down the operations of Nigeria Agip Oil Company (NAOC) over the oil giant’s alleged refusal to honour a Memorandum of Understanding (MoU) entered with the communities.


N-Delta militants to resume fresh attacks

NIGER DELTA Revolutionary Crusaders, NDRC, one of the militant groups that asked the Pan-Niger Delta Forum, PANDEF, led by Chief Edwin Clark, to stop all engagements with the Federal Government, has announced that it will commence fresh attacks on oil facilities across the Niger Delta on September 31.


Respect agreement with host communities, IYC tells AGIP

THE Eric Omare-led faction of Ijaw Youth Council, IYC, worldwide, has called on Nigeria Agip Oil Company, NAOC, to comply with the memorandum of understanding entered into with its host communities and observe international best practices in its oil and gas operations to avert a shutdown of the company’s operations.


Ijaw youth group splits over alleged marginalisation

The Ijaw Youth Council in Ahoada West and Abua-Odual local government areas of Rivers State has created a special chapter, alleging marginalisation in the council’s central zone.

Marketers task DPR on indiscriminate citing of gas plants

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) yesterday tasked the Department of Petroleum Resources (DPR) on the indiscriminate citing of gas plants without recourse to safety of the environment and the people.


Passage of fiscal PIB will clear uncertainty in oil industry, says Saka Matemilola

The passage of Petroleum Industry Governance Bill (PIGB) is a step in the right direction. The industry is also eagerly awaiting the passage of the fiscal policy bill.


Other News

Contributory Pension Scheme’ll protect workers’ future — NLPC

The Executive Director, NLPC Pension Fund Administrators Limited, Mrs. Bunmi Oyeleye, has said that it is relevant for employers to protect the future of their workers by ensuring that they open pension accounts.


Boko Haram: ASUU threatens strike if FG doesn’t rescue abducted lecturers

The Peoples Democratic Party, the Nigeria Labour Congress and civil rights groups, on Sunday, lashed out at the Federal Government for the killing of lecturers and oil workers on their way to the Lake Chad Basin by the Boko Haram sect.


Constitution amendment’ll birth new Nigeria – State assembly speakers

The Conference of Speakers of State Houses of Assembly in Nigeria has said that the ongoing constitution amendment by the National Assembly has prepared the ground for the emergence of a new Nigeria with a more viable democracy.


How we will handle N2.5tr budget deficit – FG

The Federal Government has allayed fears and concerns raised by the Central Bank of Nigeria (CBN),  that the nation’s economy may relapse into another recession, citing the N2.5 trillion budget deficit recorded by the government in six months and other factors as major threats to a economic recovery.

Economy: FGN as unrepentant saboteur

Following nearly two years of failed efforts to break through the fence of conditionalities for the release of multilateral loans being dangled by the IMF/World Bank and the European Union, the Finance Minister Kemi Adeosun, threw up her arms and confessed at the quarterly business forum held in July at the Aso Villa, “We cannot borrow any more; we just have to generate funds domestically enough to fund our budget.”


Budget minister explains projections for MTEF, FSP 2018-2020

Minister of Budget and National Planning, Senator Udoma Udo Udoma, at the weekend took the 2018-2020 MTEF and FSP consultations exercise to Lagos where he met with Civil Society Organisations (CSOs), private sector operators (PSO) and the general public.


You can’t lose money in fixed income funds – Expert

The vice chairman of Capital Express, Mr. Tony Aletor, has urged Nigerians to reconsider their stand and invest in fixed income funds as a guarantee investment vehicle.


Resident Doctors Give FG 21-day Ultimatum to Avert Nationwide Strike

Resident doctors have issued a 21-day ultimatum to the federal government to meet their demands, else they will embark on a nationwide strike.


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Oil & Gas

NNPC Reclaims Crude Oil Pipelines to Improve Refineries’ Operations

The Nigerian National Petroleum Corporation (NNPC) said it has regained full access to the pipelines that supply crude oil to its three refineries in Kaduna, Warri, and Port Harcourt, thus making it possible for the refineries to produce up to six million litres of petrol and diesel, respectively.


Nigeria’s refineries worst in Africa – Investigation

The cost of Turn Around Maintenance of Nigeria’s four refineries from year 2000 to date is nearly the total cost of building the refineries, Daily Trust investigation has shown.–investigation/206938.html


Nigeria Agrees to Cap Oil Output at 1.8mbpd

The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers, led by Russia, have approved the decision of the federal government to cap Nigeria’s oil production at a sustainable volume of 1.8 million barrels per day (mbpd).


Militants destroy Trans-Niger pipeline, Nigeria loses 150,000bpd

Suspected militants on Monday vandalised the Trans-Niger pipeline in Ogoniland in the Niger Delta region, reducing the Nigerian National Petroleum Corporation’s crude oil production by 150,000 barrels per day.


Nigeria to lose N57.5b daily as OPEC plans production cut

The Organisation of Petroleum Exporting Countries (OPEC) is planning to cap Nigeria’s crude oil production at 1.8 million barrels per day (mbpd) as a way to boost prices in the market.


OPEC pledges support for Nigerian oil output recovery

OPEC and some non-OPEC states including Russia agreed in 2016 to cut production by 1.8 million barrels per day (bpd) in a deal that has been extended to March 2018.


Zero oil days clearly before us – Osinbajo

Acting President, Prof. Yemi Osinbajo, yesterday, expressed concern over the rising volatility in the global crude oil market, stating that the days of zero oil, where the commodity would become irrelevant, were clearly around the corner.


Marketers blame FG’s policies for drop in downstream operations, importation

STAKEHOLDERS have blamed the Federal Government’s policies for dwindling importation of petroleum products as well as low operations in the downstream sector of Nigeria’s petroleum industry.


UK to Bankroll Upgrade of Nigeria’s Pipeline Infrastructure, Others

The British Government has said it would invest in major upgrade of Nigeria’s pipeline infrastructure, renewable energy, gas, and power.


Operators Want FG to Subject Oil and Gas Dividends to Withholding Tax

Stakeholders in Nigeria’s oil and gas industry have urged the federal government to subject the dividends earned in the oil and gas sector by international oil companies (IOCs) to withholding tax, stressing that Nigeria is the only oil-producing country where dividends in the oil and gas sector are not subjected to withholding tax.


Global upstream FIDs to double in 2017

THE number of upstream projects reaching final investment decision (FID) in 2017 could double to 25 compared to only 12 last year, according to a recent Wood Mackenzie report, “A big year for FIDs: 2017 marks a turning point.”


Dangote refinery to hit 50% utilisation by 2020

THE 650,000 barrels per day Dangote Refinery has been projected to hit 50 per cent capacity utilisation by 2020.


NNPC loses 150,000b to pipeline vandalism

The Nigerian National Petroleum Corporation (NNPC), lost 150,000 barrels of crude yesterday from an  attack on its Trans Niger Pipeline in Ogoniland, the Group Managing Director. Dr. Maikanti Baru, has  said.


N-Delta talks: Name FG’s team before August 1 — Clark

CONVENER of the Pan Niger Delta Forum, PANDEF and Ijaw national leader, Chief Edwin Clark, has asked President Muhammadu Buhari to, as a matter of urgency, constitute a team to engage in talks with stakeholders in the Niger Delta before August 1, adding that youths of the region were becoming impatient over the delay in the talks.


Neconde targets 60,000bpd evacuation in Q1, 2017

INDIGENOUS company, Neconde Energy Limited, which is the exploration and production arm of Obijackson Group, said it plans to achieve 60,000 barrels per day, bpd, crude evacuation, through barges from oil mining lease, OML 42, by the end of 2017.


Nigeria to save N37.75bn annually as Oando tackles petroleum discharge bottlenecks

Nigeria is expected to save about $120 million or N

37.75 billion (going by the current exchange rate of N314.65 to a dollar) in demurrage annually, following Oando Plc’s construction of first mid-stream jetty in the country.


Cross River threatens to sue NDDC over projects, others

The Cross River government is contemplating suing the Niger Delta Development Commission (NDDC) over its activities in the state.


Bonny Youth coalition decries neglect by NLNG in contract award

The Youth Coalition for Good Governance, Bonny chapter, has urged the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to call to order management of the Nigeria Liquefied Natural Gas (NLNG) Company on alleged neglect of Niger Delta youths.


25 ships laden with petroleum products, others at Apapa ports

Twenty-FIVE ships are discharging petroleum products and other commodities at the Apapa and Tin-Can Island ports, the Nigerian Ports Authority (NPA) has said.


Other News

Nigerian economy to grow faster than S-Africa’s in 2018 — IMF

The International Monetary Fund, IMF, has projected that Nigeria’s economy will grow at a faster pace than South Africa’s in 2018.


Only 10.9% workers have retirement savings account –NBS

THE National Bureau of Statistics, NBS, yesterday, revealed that only 10.93 percent of Nigeria’s total working population have retirement savings account, RSA, as at end of second quarter of 2017, Q2’17.


TSA fund: FG serves forfeiture order on banks

The Federal Government has served seven banks with the order of the Federal High Court in Lagos directing a temporary forfeiture of $793.2m allegedly hidden with the banks in contravention of its Treasury Single Account policy.


Constitution review’ll give states more power – Saraki

The Senate President, Bukola Saraki, has said the ongoing amendments to the 1999 Constitution by the National Assembly will give  more powers to state governments.


N/Assembly begins constitution amendment today

Both chambers of the National Assembly will today begin clause-by-clause consideration of the proposed amendments to the 1999 Constitution.


Reps vote on new age for President, govs Wednesday

Members of the House of Representatives will on Wednesday commence voting on amendments to the 1999 Constitutio


Nigeria’s infrastructure investment needs hit $878b

Nigeria has significant infrastructure investment gap put at $878 billion out of $97 trillion global needs, to address economic growth and existing shortfalls from now till 2040.


SSANU wants recovered funds injected into economy for jobs creation

The Senior Staff Association of Nigerian Universities (SSANU) has urged the Federal Government to inject funds recovered from the anti-corruption fight into the economy to create jobs in the country.


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Oil & Gas

There is an absolute urgency for Nigeria to begin to address her infrastructural problems, Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu said yesterday.Downstream oil sector has $10bn investments deficit – Kachikwu–kachikwu/206277.html


FEC okays new policies for oil, labour

The Federal Executive Council (FEC) has approved new policies for oil and labour sectors, Minister of State for Petroleum Resources Dr. Ibe Kachikwu and Minister of Labour Chris Ngige said yesterday.


Senate okays private-public partnership for refineries’ repairs

The Senate has finally endorsed the private-public partnership (PPP) for the repair of the country’s four refineries.

Nigeria to explore African market for crude oil sale, says Kachikwu

The Minister of State for Petroleum, Dr. Ibe Kachikwu has announced that Nigeria would explore the possibility of selling crude oil to African markets. He spoke in Abuja yesterday at the 2017 edition of the Sustainability in the Extractive Industries (SITEI) conference.


Govt to replace kerosene with gas, says NNPC boss

The Federal Government is planning to make liquefied petroleum gas (LPG) the primary domestic fuel for cooking.


Nigeria’s crude production hits 2.2mb/d’

Nigeria’s crude oil production has risen to 2.2million barrel per day, the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said.


Lagos oilfield dispute worsens, another investor heads for court

The dispute among joint venture partners in Aje oil field, offshore Lagos, appears to have escalated as another partner, EER (Colobus) Nigeria Limited, has gone to court.


We need more oil production to pay debt – Edozie

The Managing Director, Neconde Energy Limited, Frank Edozie, in this interview with ’FEMI ASU, talks about the impact of oil price drop and production disruption, among others, on local


Oil climbs as US crude, petrol supplies shrink

Oil rose after government data showed US crude and gasoline stockpiles continue to fall amid broader anxiety about a supply glut.


Ogoni cleanup: We’ve engaged illegal oil refiners — HYPREP

The Hydrocarbon Pollution and Remediation Project, HYPREP, yesterday, disclosed that it has engaged illegal oil refiners in Ogoni communities of Khana, Gokana, Tai and Eleme Local Government Areas of Rivers State in the clean-up process.


Addax pays $32m fine, closes Nigeria’s bribery case

Addax Petroleum has paid a $32m fine to close its Nigeria’s bribery case. African Energy Intelligence that confirmed the development, yesterday, stated: “Addax pays up, switches up its team and settles its legal case.”


Kachikwu calls for globalisation of Nigeria’s economy to attract foreign investors

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Wednesday called for the globalisation of the nation’s economy to attract more foreign investors in the country.


Taleveras complied with international trading standards — Legal team

The Taleveras Group, yesterday, said all its business transactions and investments in the oil sector have been in compliance with international trading standards.


Our members not involved in Apapa mayhem, says NUPENG

The Nigeria Union of Petroleum and Natural Gas Workers says none of its members in Petroleum Tanker Drivers unit was shot by Mobile Police officer in Apapa on Wednesday


DPR to probe Calabar tank farm inferno

The Department of Petroleum Resources on Wednesday said it would set up a board of inquiry to investigate the remote and immediate causes of the fire incident that occurred in Linc Oil and Gas depot on July 16 in Calabar.


‘Why Ogoni cleanup is not in 2017 budget’

The Project Coordinator of Hydrocarbon Pollution Restoration Project (HYPREP), Dr. Marvin Dekil has explained why Ogoni cleanup was not included in the 2017 budget.


Other News

Nigeria’s debt rose by N4.76tn in 2016 – DMO

Nigeria total debt rose by N4.76tn in 2016, the Debt Management Office has disclosed.


Committee on minimum wage to begin sitting by July end – NLC

The 29-member committee on a new National Minimum Wage will begin sitting before the end of July, the President of Nigeria Labour Congress, Comrade Ayuba Wabba, said on Wednesday.


Minister of Labour tasks NECA on accountability

The Minister of Labour and Productivity, Chris Ngige, has urged the Nigeria Employers’ Consultative Association (NECA) to take stock of their achievements and work on their shortcomings as they celebrate their 60th anniversary.


Fact check: FG fails to crash food prices in 2 weeks

Disturbed by skyrocketing prices of foodstuff in the markets, the Federal Government early June said it will crash the costs in two weeks.


No going back on anti-tobacco law implementation – FG

The Federal Government has ruled out backing out of the implementation of the National Tobacco Act (NTC) 2015.


Restructuring options for Nigeria

The call for restructuring of Nigeria has continued to gather momentum in recent times, with multiplicity of perspectives by advocates on the meaning of restructuring in the context of Nigeria’s situation.


Unemployed Nigerian youths and job creation

WHEN there was oil boom and a somewhat stable economy, the issue of unemployment was a very big problem.


Governors Forum set up C’ttee for state police

IN what may appear to be a tacit support for the restructuring of the country, the Governors Forum last night set up a six man committee to explore the option of actualising state police in the country.


LG election: LASG extends restriction of movement

The Lagos State Government on Wednesday extended the restriction of movement across the State noting that it had been slightly expanded and will now be enforced between 7 am and 3pm on Saturday July 22, to allow for a smooth conduct of the Local Government elections and unhindered participation.


Kogi outlaws ASUU

Kogi State Governor , Alhaji Yahaya Bello has announced the proscription of the Kogi State Chapter of the Academic staff union of Universities with immediate effect.


Senate passes Whistleblower Protection Bill into law

The Bill, which seeks to encourage and facilitate the disclosures of improper conduct by public officers and public bodies was presented by the Committee on Judiciary, Human Rights and Legal Matters, chaired by Senator David Umaru, the member representing Niger East in the 8th National Assembly.

[Infographics] Whistleblower Protection Bill: Things you should know


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