Oil & Gas

PENGASSAN hails Reps’ decision on NLNG

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has praised the House of Representatives’ decision on the proposed sale of the Federal Government’s shares in Nigerian Liquefied Natural Gas (NLNG).





NUPENG expresses concerns over non-passage of remaining parts of PIB

Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) is worried about the delay in the passage of the remaining parts of the Petroleum Industry Bill, PIB, and called on the National Assembly to expedite action on the passage.



Nigeria loses N4.7bn daily as Shell, others cut export

Nigeria is losing roughly N4.7 billion daily as a result of the suspension of export of Bonny Light crude, the country’s premium crude oil.



Declare emergency on roads, NUPENG advises Fed Govt

The National Union of Petroleum and Natural Gas Workers (NUPENG) has urged the Federal Government to declare a state of emergency on roads. The measure, it said, would end carnage on them and ease road transportation.



BudgIT hails NNPC on plan to reduce gas flaring

A civic technology organisation, BudgIT, has commended plans to end gas flaring by the Nigerian National Petroleum Corporation ( NNPC ).



NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC

Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.




Shell declares force majeure on Bonny Light exports

Shell Petroleum Development Company of Nigeria Limited has declared force majeure on exports of Bonny Light crude, one of the country’s major sources of oil revenue.



Oil price could hit $100 ‘in coming months’ – Total CEO

The CEO of French oil giant Total said Thursday he would not be surprised to see the price of a barrel of crude reach $100 later this year.



NNPC earns N1.554 trillion from oil export

Nigeria’s oil and gas sector recorded total revenue of $4.29billion (N1.554trillion) from exports between January 2017 and January 2018.On a monthly basis, total export sale of $439.60million was recorded in January 2018, representing 1.79 per cent lower than the previous month.



Kachikwu seeks approval of FDP to attract investments in oil, gas

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has urged the Federal Government to act quickly to evaluate and approve Field Development Proposals (FDPs).



Shell boosts domestic gas supply by 150%

Shell Nigeria Gas (SNG) Limited has increased its domestic gas distribution capacity by 150 per cent in the last six months.



Kachikwu lauds DPR over digitalisation of crude account

The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has lauded the Department of Petroleum Resources, DPR, for its strides towards achieving digital technological breakthrough in crude oil accounting through the deployment of the National Production Monitoring System (NPMS) platform.


OML 30 community leaders unite to tackle oil firm

Following the crisis in communities hosting Oil Mining Lease (OML) 30, stakeholders have called for a common front to tackle Heritage Energy Operational Services Limited (HEOSL).



2018 budget: Experts fault oil benchmark increment

Some financial experts on Friday faulted the increase in the oil benchmark of the 2018 appropriation bill from 45 dollars to 51 dollars by the Senate.



NOSDRA holds Oil Spill Summit May 24

Stakeholders in the oil and gas industry will meet to exchange ideas on issues relating to spills as the National Oil Spill Detection and Response Agency, NOSDRA, has concluded plans to organise a sensitization summit on oil spill incidents, the appropriate response and management required in oil producing areas in the Niger Delta.


Governors threaten to takeover fuel subsidy payment from NNPC

National Economic Council (NEC), comprising the 36 State Governors in the country, has threatened to take over the responsibility of subsidising petroleum products in their states based on consumption following the huge amount of money being spent by the NNPC as fuel subsidy payment annually.



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Other News

FG, states, others diverted N320bn Natural Resources Fund – Dogara

The Speaker of the House of Representatives, Mr. Yakubu Dogara, on Thursday disclosed how the Federal Government, states and private organisations allegedly diverted N320bn from the Natural Resources Fund over the years.



Court orders JOHESU to end strike and resume work within 24 hours

The National Industrial Court, Abuja, on Thursday ordered striking members of Joint Health Sector Union to suspend its on-going strike and resume duties across the nation within 24 hours.



Pension fund rises to N7.94tn

The total pension fund under management by pension operators rose to N7.94tn at the end of March this year, figures released by the National Pension Commission on Wednesday showed.



ILO tackles Nigeria over gender rule

The International Labour Organisation (ILO) is not happy with Nigeria for not adhering to its policy of fair gender representation in delegations attending its conference (ILC), Nigeria Labour Congress (NLC) president Comrade Ayuba Wabba has said.



Nigeria to add 189m people 2050, says UN

Nigeria has been projected to add no fewer than 189 million people to its present population between 2018 and 2050, the United Nations Department of Economic and Social Affairs (DESA) has said.



Labour, manufacturers set to endorse free trade agreement

General Secretary of the Nigeria Labour Congress (NLC), Dr. Peter Ozo-Eson, has disclosed readiness to endorse the Continental Free Trade Agreement (CFTA).



Ngige says Nigeria lags behind in productivity, competitiveness

Senator Chris Ngige, Minister of Labour and Employment, says Nigeria is abundantly blessed in human and natural resources, but unfortunately lags behind smaller or even less-endowed African countries in productivity and competitiveness.




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