NEWS REVIEW FOR FRIDAY, AUGUST 17, 2018
Oil & Gas
Prevailing discontent forces government to halt petrol price hike
Current anger and displeasure among Nigerians with respect to widespread economic and political tension have forced the Federal Government to shelve plans to increase the pump price of Premium Motor Spirit (PMS), otherwise called petrol.
Split of NNPC into two may generate tension – Baru
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, said on Thursday that the split of the corporation into two entities if not properly communicated to the workers could generate some tension between the unions.
Why Buhari must assent to PIGB now – NOCs, IOCs
With the Petroleum Industry Governance Bill, PIGB, currently awaiting assent by President Muhamadu Buhari, stakeholders in the oil and gas industry, including the National Oil Companies, NOCs, and Independent Oil Companies, IOCs, have called for immediate assent to the bill to avoid further revenue loss in the industry.
NNPC seeks clarification on proposed Petroleum Asset Management Company
The Nigerian National Petroleum Corporation on Thursday sought clarification on the funding structure of the proposed Nigerian Petroleum Asset Management Company in the Petroleum Industry Governance Bill.
‘Upstream projects getting back on track after oil price slump’
Industry research group, Wood Mackenzie (Woodmac) has said emerging signs of improved execution suggest companies are getting it right after a period of dismal performance on upstream oil and gas projects.
‘Why Nigeria’s gas sector development may remain elusive’
The Nigerian gas sector outlook may remain bleak if lingering challenges, especially unfavourable regulatory framework and poor monetary policies are not addressed.
16 ships arrive Lagos ports with petrol, other products
Sixteen ships carrying various products are at Apapa and Tin-Can Island ports waiting to berth, the Nigerian Ports Authority (NPA) said on Thursday in Lagos.
FIRS shuts NNPC subsidiary, others over tax default
The Federal Inland Revenue Service (FIRS) has sealed off the premises of companies defaulting in tax payments in Lagos and Benin, in continuation of its enforcement exercise.
How stakeholders are digitising downstream operations
Major players in the country’s petroleum industry would continue to invest in the digitisation of operations in the downstream sector to address challenges and improve service delivery, the groups under the aegis of Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPMAN) as well as key members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Nigerian Independent Petroleum Company (NIPCO Plc) have told The Guardian.
PTDF don invents technology to curb oil pipeline corrosion, save Nigeria $600m
A Professor of Environmental Microbiology at the Alex Ekwueme Federal University, Ndufu-Alike, Ikwo (FUNAI) Ebonyi State, Prof. Chuma Conlette Okoro has reported from a research the potency of cow urine as a major raw material that can be used to remediate problems associated with corrosion and souring in the oil and gas industry in Nigeria.
NEC sets up committee to decentralise police operations
The National Economic Council (NEC) yesterday resolved to decentralise police operations across the country to curb insecurity.
FG to create 4.2m jobs through raw materials development
About 4.2million “quality and decent jobs” will be created in Nigeria within five years if the Raw Materials Development Plan is properly implemented, the Minister of Science and Technology Dr Ogbonnaya Onu has said.
Govs: We Were Not Elected to Only Pay Salaries
The Nigeria Governors’ Forum (NGF) has declared that they were not elected to only pay salaries of civil servants but to also provide good roads, electricity, education and other necessary amenities for the people.
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