Oil & Gas

NNPC Retail targets 30% fuel distribution market share

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, has directed the corporation’s downstream subsidiary, NNPC Retail Limited, to target 30 per cent market share of petroleum products distribution business in Nigeria by 2020. https://www.dailytrust.com.ng/nnpc-retail-targets-30-fuel-distribution-market-share-252147.html  

Two modular refineries’ll begin operations next year –FG

Two modular refineries in the Niger Delta will commence operations in the next one year, the Federal Government announced on Wednesday. http://punchng.com/two-modular-refineriesll-begin-operations-next-year-fg/  

Trans Forcados oil pipeline resumes operation

Flows of crude oil along Nigeria’s Trans Forcados pipeline have started to ramp up again after an outage of almost a week, several trading sources said on Wednesday. https://www.dailytrust.com.ng/trans-forcados-oil-pipeline-resumes-operation-252146.html  

NNPC to settle N2.1bn owed NPA this week

The Nigerian Ports Authority has stated that all debts owed it by the Nigerian National Petroleum Corporation from 2017 to date, amounting to about N2.1bn, for services rendered to the national oil firm are to be settled this week. http://punchng.com/nnpc-to-settle-n2-1bn-owed-npa-this-week/  

Safety in focus as more people embrace cooking gas

As more Nigerians shift from kerosene to Liquefied Petroleum Gas for cooking, industry stakeholders have highlighted the need for more sensitisation to safety in order to prevent accidents. http://punchng.com/safety-in-focus-as-more-people-embrace-cooking-gas/  

Timely FDP approval good for govt, investors – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said timely approval of field development plan is a win-win situation for both the government and investors. http://punchng.com/timely-fdp-approval-good-for-govt-investors-kachikwu/  

Kachikwu: Niger Delta Militants Almost Crippled Nigeria in 2015

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, wednesday indicated that but for the timely interventions of the government, first through backchannel consultations and then open dialogues with militants who resumed bombing of oil facilities in the Niger Delta in 2015, the country could have been crippled. https://www.thisdaylive.com/index.php/2018/05/24/kachikwu-niger-delta-militants-almost-crippled-nigeria-in-2015-2/  

Closure of Trans-Forcados Pipeline May Threaten 2018 Budget

The recent closure of the Trans- Forcados Pipeline (TFP) following the May 7, 2018, suspected explosion on the facility at the Diebiri-Batan community in Warri, South West Local Government Area of Delta State, has raised concerns among stakeholders over the capacity of the federal government to finance the 2018 budget of N9.12 trillion, THISDAY has learnt. https://www.thisdaylive.com/index.php/2018/05/24/closure-of-trans-forcados-pipeline-may-threaten-2018-budget/  

NNPC to begin retail of petrol across West Africa

The Nigerian National Petroleum Corporation (NNPC) would begin retailing of petroleum products across markets in the Economic Community of West African States (ECOWAS) in the next two years. https://guardian.ng/news/nnpc-to-begin-retail-of-petrol-across-west-africa/  

NNPC, NAOC move to add 500MW to national grid

The Nigerian National Petroleum Corporation (NNPC) and its Joint Venture (JV) Partner, Nigeria Agip Oil Company (NAOC) Ltd., have pledged commitment  to implement  Okpai Phase 2 project to increase electricity generation with 500 megawatts (MW) .   Other News

HoS plans salary increase, others to boost civil service

The Head of the Civil Service of the Federation, Mrs. Winifred Oyo-Ita, on Wednesday announced plan to ensure that the nation’s civil service was efficient, productive, incorruptible and citizen-centred. http://punchng.com/hos-plans-salary-increase-others-to-boost-civil-service/ https://www.thisdaylive.com/index.php/2018/05/24/oyo-ita-why-minimum-wage-increase-is-on-the-table/  

FG, states, LGs share N613bn revenue for April

A total of N701.022 billion has been distributed as federal allocation for the month of April, 2018 between the federal, states and local government councils. https://www.dailytrust.com.ng/fg-states-lgs-share-n613bn-revenue-for-april-252133.html  

Strike: Minister urges JOHESU to obey court order

The Minister of Labour and Employment, Chris Ngige has urged the striking members of the Joint Health Sector Union (JOHESU) to obey an order of the National Industrial Court directing it to call off the strike action within 24 hours and return to negotiation. https://www.dailytrust.com.ng/strike-minister-urges-johesu-to-obey-court-order-252134.html  

States to push for new revenue allocation formula

Members of the Federation Accounts Allocation Committee have commenced discussions on the review of the current revenue allocation formula among the three tiers of government. http://punchng.com/states-to-push-for-new-revenue-allocation-formula/  

Nigeria’s industrial production has fallen by 41% –AfDB

Nigeria’s industrial value dropped by 41 per cent between 2012 and this year, the African Development Bank has said. http://punchng.com/nigerias-industrial-production-has-fallen-by-41-afdb/  

NSITF plans to settle workers compensation in 2 weeks

The Executive Director, Operations, of the Nigeria Social Insurance Trust Fund (NSITF), Mrs Kemi Nelson, has said plan is underway to settle claims and compensation of workers that sustained injury in the workplace within 14 working days. https://www.dailytrust.com.ng/nsitf-plans-to-settle-workers-compensation-in-2-weeks-252168.html   This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system