NEWS REVIEW FOR THURSDAY, AUGUST 23, 2018

NEWS REVIEW FOR THURSDAY, AUGUST 23, 2018
Oil & Gas

NCDMB seeks listing of oil firms on Stock Exchange
THE Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has urged investors in Nigeria’s oil and gas industry to get listed on the Nigerian Stock Exchange, NSE in order to attract adequate funds required to grow their businesses.

NCDMB seeks listing of oil firms on Stock Exchange

Why multinationals, IOCs defy listing on NSE
Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’, unless government withdrew completely from private business.

Why multinationals, IOCs defy listing on NSE 

Nigeria’s net revenue lowest among OPEC members
Nigeria’s oil receipts are currently the lowest among members of the Organisation of Petroleum Exporting Countries (OPEC) with capita net put at $132 per citizen.

Nigeria’s net revenue lowest among OPEC members

NLNG Train 7 to increase FDI in Nigeria – MD
The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Tony Attah, has said that the NLNG’s planned Train 7 Project, which will increase production output of its plant from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, will lift Foreign Direct Investment (FDI) in the country.

NLNG Train 7 to increase FDI in Nigeria – MD

Oil price rises above $74 as supply tightens
The global oil benchmark, Brent crude, hit a two-week high above $74 a barrel on Wednesday as an industry report showing a sharp drop in US crude inventories and US sanctions on Iran pointed to tighter supplies.

Oil price rises above $74 as supply tightens

Oil at $74 on report of U.S. inventory drop, Iran sanctions

Total committed to add 200,000 barrels per day in Q4
Total Exploration and Production Nigeria limited has assured that by the last quarter of 2018 it will be adding 200,000 barrels of oil per day to nation’s oil production.

Total committed to add 200,000 barrels per day in Q4

Nigerian crude oil sells slowly amid oversupply
The number of unsold Nigerian crude oil cargoes has reduced as buying interest picked up on Wednesday.

Nigerian crude oil sells slowly amid oversupply

FG, oil majors lose N195bn to pipeline shutdown
The shutdown of the Trans-Ramos Pipeline since May has cost the Federal Government, Shell, Total and Nigeria Agip Oil Company Limited at least $640m (N195bn) in lost revenue.

FG, oil majors lose N195bn to pipeline shutdown

IPMAN calls for urgency in roads repair
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to expedite action on the repair and reconstruction of bad roads across the country.

IPMAN calls for urgency in roads repair

NNPC, others sign pact to develop Bayelsa state’s oil communities
The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture have signed a Global Memorandum of Understanding (GMoU) with KEFFES Rural Development Foundation (KDRF) to better the lot of host communities in Bayelsa State.

NNPC, others sign pact to develop Bayelsa state’s oil communities

Oil majors, tanker owners defy presidential orders
The directives by Vice President Yemi Osinbajo aimed at easing traffic congestion in the Apapa area of Lagos State and ensuring the relocation of oil companies’ headquarters to the Niger Delta have not been complied with.

Oil majors, tanker owners defy presidential orders

Tank farms: Apapa sitting on keg of gun powder — Vicky Haastrup
Executive Vice Chairman of ENL Consortium, operators of Terminals C and D of Apapa port, spoke with Godfrey Bivbere, Abigail Ezenwafo & Kemi Abioye on cost of ports operations, the Ports & Harbours Bill, way out of the traffic logjam, alternative transport of goods and many more.

Tank farms: Apapa sitting on keg of gun powder — Vicky Haastrup

Why OB3 pipeline project is delayed, by Nestoil
Nestoil has attributed the delay in the completion of the East-West pipeline project to incessant rainfall, resulting in flooding of the operational areas.

Why OB3 pipeline project is delayed, by Nestoil

SPDC announces clean-up in Aghoro, Odimodi
The Shell Petroleum Development Company of Nigeria Limited (SPDC), says it has recovered over 95 per cent of spilled oil from the recent spill incidents on sections of the Trans Ramos Pipeline (TRP) in Aghoro and Odimodi communities in Bayelsa and Delta states respectively.

SPDC announces clean-up in Aghoro, Odimodi

30 cargoes of Nigeria’s oil await buyers
There are indications that Nigeria’s oil has been over-supplied as 30 unsold cargoes await buyers in the international market.

30 cargoes of Nigeria’s oil await buyers

Kuwait to settle oilfield disputes with Iraq, Saudi Arabia
Kuwaiti Oil Minister, Bakheet al-Rashidi, has said he expects to resolve two long-standing oilfield disputes involving its neighbours, Iraq and Saudi Arabia, in the coming weeks.

Kuwait to settle oilfield disputes with Iraq, Saudi Arabia

FG to adopt methanol fuel technology – Minister
The Federal Government is considering the utilization of methanol fuel technology to generate electricity and expand the chemical industry.

FG to adopt methanol fuel technology – Minister

Other News
ILO decries low participation of women in labour market
Latest figure from International Labour Organisation (ILO) indicates that despite notable progress over the past 20 years, there are still persistent inequalities between women and men on access to the labour market, unemployment and conditions at work.

ILO decries low participation of women in labour market

Government raises domestic borrowings by N1.5 trillion
The Federal Government has borrowed no less than N1.47 trillion from deposit money banks in the last three months, possibly through debt instruments from its monetary authorities.

Government raises domestic borrowings by N1.5 trillion


Governors delaying new minimum wage – Ngige
The Minister of Labour and Employment, Dr Chris Ngige, has attributed the delay in the approval of a new minimum wage for Nigerian workers to the inability of the state governors to agree on a figure.

Governors delaying new minimum wage – Ngige


As Inflation Continues to Simmer Down
Inflation in Nigeria which stubbornly jumped to about 19 per cent in 2017, has continued to trend downward.

As Inflation Continues to Simmer Down


FG spent $202,000 servicing external debt for 2018 Q2
The Debt Management Office (DMO) has disclosed that Nigeria spent a total of $202,253.15 to service its external debt stock for the second quarter of 2018.

FG spent $202,000 servicing external debt for 2018 Q2


TUC commends FG’s anti-corruption fight
Trade Union Congress (TUC) has commended the Federal Government’s fight against corruption.

TUC commends FG’s anti-corruption fight


PenCom in the Eyes of Pension Reform Act of 2004
Pension funds by their very nature can, in some cases, tempt even an angel. And that is why its administration demands from those charged with the responsibility of ensuring an effective and efficient managing the funds an unimpeachable integrity, transparency and accountability, proactive in terms of being hands on in a practical manner, responsiveness as it relates to promptness and sensitivity.

PenCom in the Eyes of Pension Reform Act of 2004


CPC Vs Multichoice: No end in sight over price hike tussle
There seems to be no end in sight over the tussle between the Consumer Protection Council (CPC) and Multichoice Nigeria Limited (operators of DStv and GOtv) over subscription fee hike of cable television services.

CPC Vs Multichoice: No end in sight over price hike tussle


Unpaid Salary: Ekiti Workers Chase out Colleagues from Offices
Workers in Ekiti State, led by their leaders Thursday chased out the staff of the state government from their offices following the non-payment of salaries to the workers.

Unpaid Salary: Ekiti Workers Chase out Colleagues from Offices


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HAPPY Eid eI Kabir

On behalf of our great Association, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), please accept our compliments and best regards at this season of Eid-el Kabir. May Allah reward your sacrifice bountifully, and preserve us all to witness many of this seasons in years to come.

Barka da Sallah.

NEWS REVIEW FOR FRIDAY, AUGUST 17, 2018

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.

Prevailing discontent forces government to halt petrol price hike

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.

Split of NNPC into two may generate tension – Baru

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.

Why Buhari must assent to PIGB now – NOCs, IOCs

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.

NNPC seeks clarification on proposed Petroleum Asset Management Company

NNPC seeks clarification on proposed Petroleum Asset Management Company

‘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.

‘Upstream projects getting back on track after oil price slump’

‘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.

‘Why Nigeria’s gas sector development may remain elusive’

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.

16 ships arrive Lagos ports with petrol, other products

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.

FIRS shuts NNPC subsidiary, others over tax default

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.

How stakeholders are digitising downstream operations

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.

PTDF don invents technology to curb oil pipeline corrosion, save Nigeria $600m

Other News
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.

NEC sets up committee to decentralise police operations

Insecurity: NEC begins moves to decentralise police operations

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.

FG to create 4.2m jobs through raw materials development

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.

Govs: We Were Not Elected to Only Pay Salaries

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NEWS REVIEW FOR THURSDAY, AUGUST 16, 2018

NEWS REVIEW FOR THURSDAY, AUGUST 16, 2018
Oil & Gas

Refineries: PTDF to stop importation of refining catalysts
The Petroleum Technology Development Fund is working with engineers and researchers to halt the importation of catalysts used in refining crude in Nigerian refineries.

Refineries: PTDF to stop importation of refining catalysts


We’ll support efforts to resuscitate the refineries —PTDF
The Petroleum Technology Development Fund says it will support efforts to address some of the major challenges hindering the operations of Nigeria’s refineries.

We’ll support efforts to resuscitate the refineries —PTDF


PTDF to tackle refineries’ challenges, halt import of catalysts
The Petroleum Technology Development Fund, PTDF, yesterday, said it was working with some engineers and researchers to halt the importation of refining catalysts to address one of the major challenges hindering the effectiveness of the country’s refineries.

PTDF to tackle refineries’ challenges, halt import of catalysts


‘Revenue from crude oil not economically sustainable’
Nigeria must stop relying on crude oil earnings as the revenue it generates from the commodity is not economically sustainable, a former United Nations Permanent Representative and Under Secretary-General to the world body, Prof Ibrahim Gambari, as well as heads of other organisations, have said.

‘Revenue from crude oil not economically sustainable’


NCDMB wants more oil firms to list on NSE
The Nigerian Content Development and Monitoring Board has said it would like to see more oil and gas firms in the country list on the Nigerian Stock Exchange.

NCDMB wants more oil firms to list on NSE


DPR, task force to stop substandard petroleum products
The Department of Petroleum Resources, Bayelsa State office, says it has partnered the Presidential Task Force to tackle the problems of illegal refining and production of substandard petroleum products in the state.

DPR, task force to stop substandard petroleum products


‘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.

‘Why Nigeria’s gas sector development may remain elusive’


Oil slumps after report of rising US stocks
Oil prices fell on Wednesday, weighed down by a gloomier global economic outlook and a report of rising United States’ crude inventories, even as the US sanctions on Tehran threatened to curb Iranian crude oil supplies.

Oil slumps after report of rising US stocks


Energy360 unveils technology for downstream operators
Energy360 Africa Limited, an indigenous downstream petroleum technology firm, has unveiled solutions aimed at improving operational efficiency in the downstream sector of the nation’s oil and gas industry.

Energy360 unveils technology for downstream operators


Stakeholders handicapped in Ogoni clean-up — NOSDRA
NATIONAL Oil Spill Detection and Response Agency, NOSDRA, has said that stakeholders are handicapped in the actual cleaning of oil polluted Ogoniland, Rivers State, due to continued oil spill and illegal refining in the area.

Stakeholders handicapped in Ogoni clean-up — NOSDRA


IPMAN calls off solidarity strike
ANAMBRA State Government says it has been resolved that members of Independent Petroleum Marketers Association of Nigeria, IPMAN, will call off their one-day solidarity strike today.

IPMAN calls off solidarity strike


Other News
Inflation falls marginally to 11.14%
The National Bureau of Statistics on Wednesday released the Consumer Price Index which measures inflation, with the index dropping by 0.09 percentage points from 11.23 per cent in June to 11.14 per cent in July.

Inflation falls marginally to 11.14%


NECA assures of decent jobs as it sets up body for enhanced global competitiveness in business
THE issue of decent work has become part of global industrial relations practice.

NECA assures of decent jobs as it sets up body for enhanced global competitiveness in business


Electricity workers threaten nationwide strike over alleged abuse of labour rights
The epileptic power power supply may become worse as the workers in the sector are threatening to embark on industrial action over abuse of labour rights by the managing director of Transmission Company of Nigeria (TCN), Usman Mohammed.

Electricity workers threaten nationwide strike over alleged abuse of labour rights


Experts seek policies to address youth unemployment
As Nigeria joined the rest of the world to mark the International Youth Day (IYD), experts have charged the government to create policies that would proffer solutions to the rising spate of unemployment among youths.

Experts seek policies to address youth unemployment 


Nigerians, AI caution against gagging media ahead of 2019 polls
Eminent Nigerians, including Governor Ayodele Fayose of Ekiti State and former Vice President, Atiku Abubakar, have cautioned governments at all levels and their agencies against actions or decisions capable of impeding effective performance of the media.

Nigerians, AI caution against gagging media ahead of 2019 polls


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PENGASSAN at 40

PENGASSAN at 40

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) came to existence Forty years ago, precisely on the 15th of August 1978, when the certificate of registration was issued to the Association under the Trade Union (Amendment) Decree No. 22 of 1978.

The Association was established with the principal objectives of overall unionisation of all senior and middle level management employees in the oil, gas, petrochemical and other allied companies in the country; regulating and maintaining all forms of labour and industrial relations activities between various managements and the employees; safeguarding and improvement of rights, terms and conditions of employment of its members; fostering unity and stability among the ranks and with other unions globally; and fostering mutually beneficial relationship with the employers, government and other stakeholders.

Other missions include promoting and supporting legislations that further members’ interest, employment models and socially acceptable tools, techniques and ideas that espouse and strengthen labour and industrial relations practices; responding positively and sensitively to the needs and aspirations of its members; as well as enhancing the sphere and frontier of socio-economic/welfare benefits and opportunities for members and staff.
Like other Trade Union movements, the road has not been smooth as the Association and its leaders had their own share of the ups-and-downs of the political and socio-economic situations in the country.

Most importantly are the contributions of the Association and its leaders to the current democratic dispensation being enjoyed in the country today. PENGASSAN leaders along with other Trade Unions and civil society groups were at the forefront of the June 12 struggle which led to the takeover of the Association and the imposition of an Administrator on the Association by the then military regime. Our erstwhile leaders, President, Comrade Ganiu Owoduni, General Secretary, Comrades Milton Gilchrist Dabibi and Comrade Frank Addo, suffered varying degrees of persecution and were even jailed at that time.

Given the coordinated and sound administrative system, PENGASSAN has collaborated with other social partners in the growth and development of the Nigerian nation.

On the part of the Government, PENGASSAN have been involved in several policy engagements that led to the development of the Oil and Gas industry and the Nation’s economy such as the resolution of the Joint Venture (JV) Cash Call, contributions to the Petroleum Industry Bill (PIB), leading advocacy for local content and indigenous participation in the nation’s hydrocarbon business, as well as regulation of the Contract and Casual Employment, among others. Indeed, the Association has been complementing the efforts of the Government in building a virile and productive economy.

The Association also demonstrated its masses oriented leaning by collaborating with the Trade Union Congress (TUC), the umbrella body of all Senior Staff Associations in Nigeria in the struggle against some Government policies we feel are detrimental to the welfare of the masses.
On the international scene, the PENGASSAN has been participating in International Labour Organisation (ILO) and IndustriAll activities towards improvement of welfare of its members, the industry and other workers.

With the robust and commitment of the Association’s leadership, we are sure that the future is bright for the Association, the members and staff, the Oil and Gas Industry and the Nation at large.

Great PENGASSAN!
Great Nigeria!!
Comrade Fortune Obi

National Public Relations Officer

NEWS REVIEW FOR TUESDAY, AUGUST 14, 2018

NEWS REVIEW FOR TUESDAY, AUGUST 14, 2018
Oil & Gas
Refineries’ Builders to Revalidate Studies for Plants’ Revamp
Three Original Refineries Builders (ORBs) who built the existing 445,000 barrels a day (bd) combined capacity refineries of the Nigerian National Petroleum Corporation (NNPC) in Kaduna, Port Harcourt and Warri, have agreed to revalidate the scoping studies the NNPC has developed for its planned revamp of the refineries, the Group Managing Director of the corporation, Dr. Maikanti Baru, has disclosed.

Refineries’ Builders to Revalidate Studies for Plants’ Revamp

Ending the Menace of Gas Flaring
After dithering for years, Nigeria recently indicated its preparedness to end gas flaring, an exercise that represents waste and environmental degradation

Ending the Menace of Gas Flaring

Nigeria, two others push OPEC oil output higher
Crude production from the Organisation of Petroleum Exporting Countries rose in July on the back of increased output recorded by Nigeria, Kuwait and the United Arab Emirates, the latest report obtained on Monday showed

Nigeria, two others push OPEC oil output higher

OPEC sees lower demand for oil
The Organisation of Petroleum Exporting Countries (OPEC) yesterday forecast lower demand for its crude next year as rivals pump more. It said top oil exporter Saudi Arabia, is also eager to avoid a return of oversupply and had cut production.

OPEC sees lower demand for oil

NNPC, Seplat sign gas delivery agreements
The Nigerian National Petroleum Corporation and Seplat Petroleum Development Company have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.

NNPC, Seplat sign gas delivery agreements

NNPC Targets 15,000MW Gas-based Power Generation in Three Years
The Nigerian National Petroleum Corporation (NNPC) has disclosed it is targeting the supply of about five billion standard cubic feet per day (bcfd) of gas to Nigeria’s domestic market, from which about 15,000 megawatts (MW) of electricity could be generated in the next three years.

NNPC Targets 15,000MW Gas-based Power Generation in Three Years

Pipeline vandals ground Ibadan petrol depot, product scarcity looms
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says there is the likelihood of a scarcity of Petrol in Ibadan due to non-availability of the product at the depot.

Pipeline vandals ground Ibadan petrol depot, product scarcity looms

Expert Urges NLNG to Sell First Train 7 Volumes in 2022
The Nigeria Liquefied Natural Gas (NLNG) Limited has been advised to consider getting the first output of liquefied natural gas (LNG) from its upcoming Train 7 to the market in 2022 instead of 2024 which it recently said was its target.

Expert Urges NLNG to Sell First Train 7 Volumes in 2022

MOSOP TO FG: Ogoni needs economic cleanup, not mere environmental cleaning
OGONI- PRESIDENT of the Movement for the Survival of Ogoni People, MOSOP, Mr. Leborsi Pyagbara, has said that Ogoni people in Rivers State whose sources of livelihood were destroyed by pollution by oil companies required economic cleanup and not just environmental remediation from the Federal Government.

MOSOP TO FG: Ogoni needs economic cleanup, not mere environmental cleaning

Renewal of Shell’s mining rights, insult on our dignity — MOSOP
MOVEMENT for the Survival of the Ogoni People, MOSOP, has described the renewal of Shell Petroleum Development Company, SPDC’s mining rights in Ogoni as shocking and an insult on the collective dignity of the Ogoni people.

Renewal of Shell’s mining rights, insult on our dignity — MOSOP

‘Why government may not end Port Harcourt soot’
Scientists have advanced reasons for Federal Government’s failure to identify the source of Port Harcourt ‘black soot’ in order to end the environmental and health hazards it poses to the people of Rivers State.

‘Why government may not end Port Harcourt soot’

Iran offers discount on oil, gas to Asian market
Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday.

Iran offers discount on oil, gas to Asian market

Why SNEPCo Supply Base Must Remain in N’Delta
The Niger Delta region for many years was a centre for violence, communal clashes and militancy. It took a negotiated and sustained intervention for the government to purchase relative peace in the region.

Why SNEPCo Supply Base Must Remain in N’Delta

Other News
TUC urges workers to participate actively in politics
The President of the Trade Union Congress (TUC), Bobboi Bala Kaigama has urged workers to participate actively in politics to be able to influence policies that directly affect them and their welfare.

TUC urges workers to participate actively in politics

NLC vows to continue picketing of MTN over non-unionisation of workers
The Nigeria Labour Congress (NLC) has vowed to continue picketing the premises of telecommunication giants, MTN, until all its workers are allowed to belong to labour unions of their choice.

NLC vows to continue picketing of MTN over non-unionisation of workers

‘Single digit inflation target now uncertain’
Nigeria may lose out on its targeted single digit inflation level this year, which would have checked the streak of weak purchasing power and put the country on a sustainable path of interest rate cut.

‘Single digit inflation target now uncertain’

Discos must Meter Consumers, FG Insists
About 26 industrial customers have elected to sign up to be supplied power directly from power generation companies (Gencos) instead of from the distribution companies (Discos) under the eligible consumers’ scheme approved by the federal government in 2017, the government said yesterday in Minna, Niger State.

Discos must Meter Consumers, FG Insists

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Reduce poverty in the land, PENGASSAN tells government.

Oil workers, under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have called on the governments at all level to increase their efforts at reducing poverty in the country.
The workers stated that this can be achieved by putting in place people-oriented programmes and policies.
The PENGASSAN President, Comrade Francis Olabode Johnson, made the call this during the 5th Triennial Delegates Conference of PENGASSAN Addax Branch in Lagos on Thursday.
According to the union leader, “the National Bureau of Statistics (NBS) claim on reduction in inflation figure has not translated to improvement in the masses’ welfare.
“Judging by the Brookling’s Report that categorised Nigeria as the country with the highest number of extreme poor people, we want the Government to increase its efforts at reducing poverty in the country, by putting in place people-oriented programmes and policies.
“Besides, the poverty in the land does not seem to abate despite government’s efforts to restore normalcy and give the people a new sense of hope.”
He noted that the historical role of labour movement is to be the stabilising force required to create the atmosphere necessary for the expected change, adding that throughout Nigeria’s political history, the leadership role of labour has always been pivoted to the realisation of national objectives as a people.
“In this connection, our Association, PENGASSAN will stand up to be counted as always, by ensuring we continue to contribute our individual and collective quotas in whatever ways we can to promote national development, particularly those affecting our industry,” he said.
In his remarks, the acting Managing Director of Addax Petroleum, Mr. Yonghong Chen, said that the nation is currently undergoing a serious change management challenge, adding, “It behoves on all stakeholders to move the nation forward.”
Mr. Chen, who was represented by the General Manager, Human Resources and Administration, Addax Petroleum, Mrs. Omayili Wale-Ajayi, said the company is committed to partnering with the union for the growth of the enterprise, urging all to persevere in seeking mutual beneficial end.

Plateau killings: Change your strategies, PENGASSAN tells Security Agencies

PRESS STATEMENT

 

Plateau killings: Change your strategies, PENGASSAN tells Security Agencies

 

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has observed the continued wanton and ruthless killing of innocent Nigerians across the country by armed bandits and marauders.

 

We commiserate with the families of the victims, the people and Government of Plateau State, which is the latest of such incidents with the killing of over 100 people last weekend.

 

We equally frown at the statement by a spokesman Meyatti Allah that the killings were in response to rustling of about 100 cattle in the area. This is not an excuse for lawlessness in a country that has government and security apparatus to handle issues.

 

PENGASSAN notes that the Security Agencies, especially the police seem helpless in the face of the mindless and unprovocative killing of innocent Nigerians. We therefore call for more recruitment into all arms of the Security Agencies, including the Nigerian Security and Civil Defence Corps (NSCDC) and also advise the Security Agencies to review their strategies to put an end to the killing. The Security Agencies should improve their relationship with the communities to enable them get necessary information before any attacks.

 

Besides, we implore the Government to deploy a special squad of military and other forces permanently to troubled prone areas of Benue, Taraba and Plateau states. The Federal Government should rise above just condemning such killings and courageously do all it takes to protect the lives and properties of citizens which is the whole essence of governance.

 

Comrade Fortune Obi

National Public Relations Officer

PENGASSAN

 

 

News Stories from the TOTAL E&P BDC

News Stories from the TOTAL E&P BDC

PENGASSAN cautions politicians on divisive politics

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on politicians to avoid utterance and actions that can cause division in the country.‎

http://sunnewsonline.com/pengassan-cautions-politicians-on-divisive-politics/ (P. 38 of Daily Sun of Monday June 25, 2018)

PENGASSAN cautions politicians against divisive actions

As the 2019 elections draw closer, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the political class to stay away from political actions that could endanger the peaceful co-existence of Nigerians. 

https://guardian.ng/appointments/pengassan-cautions-politicians-against-divisive-actions/

2019: Oil workers urge politicians to avoid divisive campaigns, politics

Oil workers, under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Friday warned politicians to avoid utterances and actions capable of dividing the people in the run up to the 2019 elections in the country.

https://www.premiumtimesng.com/news/more-news/273575-2019-oil-workers-urge-politicians-to-avoid-divisive-campaigns-politics.html

PENGASSAN cautions politicians on divisive politics

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on politicians to avoid utterance and actions that can cause division in the country.‎ President of PENGASSAN, Comrade Francis Olabode Johnson, gave this advice during the fifth Triennial Delegates’ Conference of Total EandP branch of PENGASSAN, in Abuja on Friday.

http://nigeria.shafaqna.com/EN/NG/5385591

PENGASSAN Takes Stock Of Achievements

Comrade Francis Olabode Johnson, President, the Petroleum and Natural Gas Senior Staff Association Of Nigeria, PENGASSSAN, at the 5th Triennial delegates conference of the association at Total E & P branch in Abuja from June 22 to 23, 2018 in his address, took stock of the achievements of PENGASSAN and reflected on the state of the nation.

https://independent.ng/pengassan-takes-stock-of-achievements/

https://tribuneonline.ng/labour/pengassan-urges-policians-to-eschew-divisive-politics (Check P 27 of Nigerian Tribune of Tuesday, 26 June, 2018)

Check P. A8 of Business Day Tuesday, 26 June, 2018.

 

 

NEWS REVIEW FOR THURSDAY, MAY 24, 2018

 

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

 

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NEWS REVIEW FOR WEDNESDAY, MAY 23, 2018

 

Petrol subsidy: Ezekwesili tackles Buhari, NNPC

A former Minister of Education, Oby Ezekwesili, on Tuesday tackled President Muhammadu Buhari, as the substantive Minister of Petroleum Resources, and the Nigerian National Petroleum Corporation over the lack of transparency in the petrol subsidy arrangement.

http://punchng.com/petrol-subsidy-ezekwesili-tackles-buhari-nnpc/

NNPC Seeks New Measures to Reduce Losses Incurred on Petrol Imports

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it has proposed to the Nigerian Ports Authority (NPA) new measures that could help reduce the loses it incur on imported petrol.

https://www.thisdaylive.com/index.php/2018/05/23/nnpc-seeks-new-measures-to-reduce-losses-incurred-on-petrol-imports/

 

Nigerian crude oil cargoes struggling to find buyers

Nigerian crude oil grades continued to struggle on Tuesday, weighed down by a surplus of unsold June loading cargoes as the July programmes emerged.

http://punchng.com/nigerian-crude-oil-cargoes-struggling-to-find-buyers/

https://www.dailytrust.com.ng/glut-unsold-nigerian-crude-cargoes-liter-market-251968.html

 

N1.4tr spending on fuel subsidy, a misallocation of resources – Emir Sanusi

The Emir of Kano, Malam Muhammadu Sanusi II, has condemned the continued fuel subsidy spending by the Buhari administration, saying it is misallocation of scarce resources.

https://www.dailytrust.com.ng/n1-4tr-spending-on-fuel-subsidy-a-misallocation-of-resources–emir-sanusi-251972.html

 

Shell’s Oil Spill Dispute with Nigerian Villagers Back in UK Court

Lawyers for the Bodo community in Ogoniland of Rivers State, which was devastated by two major oil spills in 2008, went to court in London yesterday to fend off what they said was an attempt by Shell to kill off their litigation.

https://www.thisdaylive.com/index.php/2018/05/23/shells-oil-spill-dispute-with-nigerian-villagers-back-in-uk-court/

 

Petroleum sector generates N12.132b tax in three months

Nigeria’s petroleum sector contributed Value Added Tax (VAT) of N12.132 billion during the first quarter of 2018, data from the National Bureau of Statistics (NBS) has shown.

https://guardian.ng/business-services/petroleum-sector-generates-n12-132b-tax-in-three-months/

 

Tanker drivers call off strike in Rivers

Tanker drivers in Rivers State on Tuesday called off their weeklong strike following the intervention of the Nigerian National Petroleum Corporation in the disagreement between them and security agents in the state.

http://punchng.com/tanker-drivers-call-off-strike-in-rivers/

 

‘NNPC, NPA partnership will reduce under-recovery, enhance product supply’

Collaboration between the Nigerian National Petroleum Corporation (NNPC) has said that collaboration between it and the Nigerian Ports Authority (NPA) will help the country reduce expenditures made by the state oil company and limit chances of fuel scarcity.

https://guardian.ng/news/nnpc-npa-partnership-will-reduce-under-recovery-enhance-product-supply/

 

Other news

Budget 2018: Something to Cheer?

With a rapidly growing population, Obinna Chima wonders if Nigeria’s 2018 budget has what it takes to drive the much-desired growth in the country

https://www.thisdaylive.com/index.php/2018/05/23/budget-2018-something-to-cheer/

 

CBN: Why We Did Not Reduce Interest Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its second meeting for the year, expressing apprehension that the late passage and implementation of the 2018 budget, as well as election spending, could trigger inflationary trends and reverse the economic gains made so far, if pre-emptive measures are not adopted.

https://www.thisdaylive.com/index.php/2018/05/23/cbn-why-we-did-not-reduce-interest-rate/

 

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NEWS REVIEW FOR MONDAY, MAY 21, 2018

 

Oil & Gas

NNPC reduces loss by 77.1% as refineries perform poorly

The Nigerian National Petroleum Corporation reduced its group operational loss by 77.1 per cent, cutting it down by N5.3bn within a period of one month.

http://punchng.com/nnpc-reduces-loss-by-77-1-as-refineries-perform-poorly/

PIB: Oil workers reject new regulator’s powers

The Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers have expressed worry over the powers conferred on the proposed Nigeria Petroleum Regulatory Commission under the Petroleum Industry Bill.

http://punchng.com/pib-oil-workers-reject-new-regulators-powers/

Oil workers pick holes in PIB amendment bills

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have raised concern over some amendments made in the Petroleum Industry Bill (PIB), saying that some of the recommendations could lead to unnecessary bureaucratic bottlenecks and abuse.

https://www.dailytrust.com.ng/oil-workers-pick-holes-in-pib-amendment-bills-251586.html

PIGB: Fresh concerns over job security, overbearing uncontrollable commission

As stakeholders await President Muhammadu Buhari’s assent to the harmonised Petroleum Industry Bill Governance Bill (PIGB) with sublime hope, not a few workers are worried over job security. Some interest groups also see the bill as an old wine in a new wine skin.

http://thenationonlineng.net/pigb-fresh-concerns-over-job-security-overbearing-uncontrollable-commission/

Oil workers disagree with NCDMB, OPTS on new service pact

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have expressed dismay over a new Service Level Agreement (SLA) reached between the Nigerian Content Development and Monitoring Board (NCDMB) and the Oil Producers Trade Section (OPTS).

https://www.dailytrust.com.ng/oil-workers-disagree-with-ncdmb-opts-on-new-service-pact-251539.html

THUMPS UP: Shortening Contracting Cycle in Oil Industry

The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) recently signed a Service Level Agreement (SLA) with the oil companies operating in Nigeria under the aegis of the Oil Producers Trade Section (OPTS), to reduce the long contracting cycle, which had hindered investments in Nigeria’s oil and gas industry.

https://www.thisdaylive.com/index.php/2018/05/21/thumps-up-shortening-contracting-cycle-in-oil-industry/

Oil Prices Rise as US Puts Trade War with China ‘On Hold’

Oil prices rose on Monday, lifted by a rally across stocks and other commodities, after the United States said it had put a possible trade war with China “on hold”.

https://www.thisdaylive.com/index.php/2018/05/21/oil-prices-rise-as-us-puts-trade-war-with-china-on-hold/

2018 Budget: FG won’t Meet 2.3 mbpd Production Target Due to Sabotage, Says FBN

The crude production target of 2.3 million barrels per day proposed in the 2018 budget will not be achieved because of acts of sabotage in the lead-up to the 2019 elections, FBNQuest Capital has predicted.

https://www.thisdaylive.com/index.php/2018/05/20/2018-budget-fg-wont-meet-2-3-mbpd-production-target-due-to-sabotage-says-fbn/

2017 Budget: Net Oil Revenue Dropped by N401bn in Q3

The actual net oil revenue into the Federation Account in the third quarter (Q3) of 2017 stood at ₦692.40 billion, indicating a drop of ₦401.51 billion or 36.7 per cent decline in the quarterly estimated budget of ₦1.093 trillion, the draft third quarter 2017 Budget implementation report has shown.

https://www.thisdaylive.com/index.php/2018/05/20/2017-budget-net-oil-revenue-dropped-by-n401bn-in-q3/

FG Stops Seplat’s Project over Alleged Violation of Nigerian Content Law

The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) has directed Seplat Petroleum Development Company Plc to suspend work on its ANOH Gas Plant project in Oil Mining Lease (OML) 53 over alleged violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 by using a UAE firm for the engineering and fabrication, THISDAY has learnt.

https://www.thisdaylive.com/index.php/2018/05/21/fg-stops-seplats-project-over-alleged-violation-of-nigerian-content-law/

OML 18: San Leon Energy, Six Others Dragged Before Court

Suntrust Oil Company Nigeria Limited has summoned San Leon Energy Plc and six other defendants to appear before a Federal High Court in Lagos within 30 days in the suit number FHC/L/CS/793/2018 in respect of Oil Mining Lease (OML) 18.

https://www.thisdaylive.com/index.php/2018/05/21/oml-18-san-leon-energy-six-others-dragged-before-court/

Court Fixes Tomorrow to Rule on N122bn Judgment Debt against Shell, FBN

Justice Ibrahim Buba of the Federal High Court in Lagos has fixed tomorrow to rule on the garnishee proceedings filed by some Ogoni chiefs from Ejama community in Rivers State against the Central Bank of Nigeria (CBN) and First Bank of Nigeria Limited for their failure to pay a N122 billion judgment debt against Shell Petroleum Development Company Limited (SDPC).

https://www.thisdaylive.com/index.php/2018/05/21/court-fixes-tomorrow-to-rule-on-n122bn-judgment-debt-against-shell-fbn/

PDP accuses Buhari of condoning fuel subsidy fraud

The Peoples Democratic Party has accused President Muhammadu Buhari of superintending over a corrupt fuel subsidy regime.

http://punchng.com/pdp-accuses-buhari-of-condoning-fuel-subsidy-fraud/

Nigerian economy expands in Q1 as oil output rises

Nigeria’s economy expanded for a fourth straight quarter in the first three months of the year, boosted by an increase in oil prices and output.

https://guardian.ng/business-services/nigerian-economy-expands-in-q1-as-oil-output-rises/

Other News

Nigerians Groan Despite Inflation Drops

Though Nigeria’s Consumer Price Index recorded its 15th month of deceleration in April, from 18.97 per cent in January 2017 to 12.48 per cent in April 2018, cost of food still remains high.

https://www.thisdaylive.com/index.php/2018/05/20/nigerians-groan-despite-inflation-drops/

Naira devaluation unlikely before elections —Analysts

Analysts at FBNQuest Capital Limited have said that the monetary authorities are unlikely to devalue the naira or unify the exchange rates before the 2019 elections.

http://punchng.com/naira-devaluation-unlikely-before-elections-analysts/

Buhari’ll receive passed 2018 budget this week – Reps

The House of Representatives has said that a clean copy of the 2018 budget will be on the table of President Muhammadu Buhari within one week from the date of passage.

http://punchng.com/buharill-receive-passed-2018-budget-this-week-reps/

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.

https://guardian.ng/business-services/2018-budget-experts-fault-oil-benchmark-increment/

 

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NEWS REVIEW FOR FRIDAY, MAY 18, 2018

 

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).

http://thenationonlineng.net/pengassan-hails-reps-decision-on-nlng/

https://www.vanguardngr.com/2018/05/pengassan-lauds-reps-stance-nlng-sale/

https://www.thisdaylive.com/index.php/2018/05/18/pengassan-hails-lawmakers-decision-on-nlngs-sale/

 

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.

https://www.vanguardngr.com/2018/05/nupeng-expresses-concerns-non-passage-remaining-parts-pib/

 

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.

https://www.dailytrust.com.ng/nigeria-loses-n4-7bn-daily-as-shell-others-cut-export-251128.html

 

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.

http://thenationonlineng.net/declare-emergency-on-roads-nupeng-advises-fed-govt/

 

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 ).

http://thenationonlineng.net/budgit-hails-nnpc-on-plan-to-reduce-gas-flaring/

 

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.

http://punchng.com/nnpc-npa-firs-others-failed-to-remit-n526bn-21bn-nec/

https://guardian.ng/news/economic-council-directs-nnpc-others-to-refund-n8tr/

 

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.

http://punchng.com/shell-declares-force-majeure-on-bonny-light-exports/

 

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.

http://punchng.com/oil-price-could-hit-100-in-coming-months-total-ceo/

 

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.

https://guardian.ng/business-services/nnpc-earns-n1-554-trillion-from-oil-export/

 

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).

https://guardian.ng/news/kachikwu-seeks-approval-of-fdp-to-attract-investments-in-oil-gas/

 

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.

http://thenationonlineng.net/shell-boosts-domestic-gas-supply-by-150/

 

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.
https://www.vanguardngr.com/2018/05/kachikwu-lauds-dpr-over-digitalisation-of-crude-account/

 

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).

http://thenationonlineng.net/oml-30-community-leaders-unite-to-tackle-oil-firm/

 

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.

https://guardian.ng/business-services/2018-budget-experts-fault-oil-benchmark-increment/

 

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.
https://www.vanguardngr.com/2018/05/nosdra-holds-oil-spill-summit-may-24/

 

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.
https://www.vanguardngr.com/2018/05/governors-threaten-takeover-fuel-subsidy-payment-nnpc/

 

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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.

http://punchng.com/fg-states-others-diverted-n320bn-natural-resources-fund-dogara/

 

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.

http://punchng.com/court-orders-johesu-to-end-strike-and-resume-work-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.

http://punchng.com/pension-fund-rises-to-n7-94tn/

 

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.

http://thenationonlineng.net/ilo-tackles-nigeria-over-gender-rule/

 

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.

http://thenationonlineng.net/nigeria-to-add-189m-people-2050-says-un/

 

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).

https://guardian.ng/news/labour-manufacturers-set-to-endorse-free-trade-agreement/

 

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.

https://guardian.ng/news/ngige-says-nigeria-lags-behind-in-productivity-competitiveness/

 

 

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NEWS REVIEW FOR THURSDAY, MAY 17, 2018

 

 

NEWS REVIEW FOR THURSDAY, MAY 17, 2018

Oil & Gas

plit petroleum licences in PIB, NNPC tells N’Assembly

The Nigerian National Petroleum Corporation on Wednesday called for the splitting of petroleum licences into prospecting and production phases under the draft Petroleum Industry Administrative legislation currently before the National Assembly.

http://punchng.com/split-petroleum-licences-in-pib-nnpc-tells-nassembly/

https://www.dailytrust.com.ng/pib-nnpc-seeks-split-of-petroleum-licences-250991.html

Presidency denies receipt of PIB

The Presidency on Wednesday said President Muhammadu Buhari had yet to receive a copy of the Petroleum Industry Governance Bill recently passed into law by the National Assembly.

http://punchng.com/presidency-denies-receipt-of-pib/

 

Govs want petrol subsidy payments probed

The 36 state governors have moved against the Nigerian National Petroleum Corporation for allegedly falsifying some figures.

http://punchng.com/govs-want-petrol-subsidy-payments-probed/

https://www.dailytrust.com.ng/governors-accuse-nnpc-of-fraudulent-subsidy-payment-250919.html

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.

https://guardian.ng/business-services/nnpc-earns-n1-554-trillion-from-oil-export/

NCDMB, OPTS sign agreement to shorten contract cycles

The Nigerian Content Development and Monitoring Board (NCDMB), and the Oil Producers Trade Section (OPTS), the umbrella body of major international and indigenous operating oil companies have signed a Service Level Agreement (SLA), aimed at shortening the often protracted industry contracting cycle.

https://guardian.ng/business-services/ncdmb-opts-sign-agreement-to-shorten-contract-cycles/

New gas, oil policy to improve business environment, investors’ activities, says Kachikwu

Following the approval of a new gas and oil policy, the Federal Government is working to improve business environment, leading to increased investor activity and energy supply, thus improving prices of goods and services.

https://guardian.ng/business-services/new-gas-oil-policy-to-improve-business-environment-investors-activities-says-kachikwu/

PIB will ensure strong regulation in oil, gas industry, says expert

The Chairman Board of Governors, the Petroleum Club, Lagos, Godswill Ihetu, has said the Petroleum Industry Bill (PIB), if passed into law would address inefficiencies, and ensure strong regulations in the Oil and Gas industry.

https://guardian.ng/business-services/pib-will-ensure-strong-regulation-in-oil-gas-industry-says-expert/

Oil hits $80, highest since Nov 2014

Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall due to renewed U.S. sanctions and reduce supply in an already tightening market.

https://www.dailytrust.com.ng/oil-hits-80-highest-since-nov-2014-251076.html

How to avoid another round of oil price crash – Barkindo

To avoid another around of oil price downfall, the producers must always be vigilant of market signs and indicators and always have the mid-and long-term in mind  before making calculations and decisions, the Secretary General of the Organisation of Petroleum Exporting Countries, Mohammed S. Barkindo has said.

https://www.dailytrust.com.ng/how-to-avoid-another-round-of-oil-price-crash-barkindo-250999.html

NNPC doubles local firms in crude lifting contract list

The Nigerian National Petroleum Corporation (NNPC) has awarded 50 companies with contracts to buy Nigerian crude and more than half of them are local firms, foreign and Nigerian trading sources told Reuters.

https://www.dailytrust.com.ng/nnpc-doubles-local-firms-in-crude-lifting-contract-list-250768.html

NNPC Seeks End to Perpetual Hold on Oil Acreages

The Nigerian National Petroleum Corporation (NNPC) has asked the National Assembly to split the licences issued for development of oil fields in Nigeria into two components, one for prospecting and another for production under the draft Petroleum Industry Administrative Bill (PIAB) currently before it.

https://www.thisdaylive.com/index.php/2018/05/17/nnpc-seeks-end-to-perpetual-hold-on-oil-acreages/

Akwa Ibom, Mobil collaborate on oil exploration

The Akwa Ibom State Government has announced plans to work more with Mobil Producing Nigeria in the area of oil exploration and development of various communities.

http://punchng.com/akwa-ibom-mobil-collaborate-on-oil-exploration/

Politicians showed unusual interest in refineries’ maintenance contracts – Akpieyi

Chief Joseph Akpieyi, a former Chief Executive Officer of Nigerian Petroleum Refining Company (now Port Harcourt Refinery Company) (1980-85) and Warri Refining and Petrochemicals Company Limited (1980-88), is the chairman of ARCO Group.

http://punchng.com/politicians-showed-unusual-interest-in-refineries-maintenance-contracts-akpieyi/

IPMAN seeks timely payment of bridging claims

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed for the timely payment of bridging claims to its members.

https://www.dailytrust.com.ng/ipman-seeks-timely-payment-of-bridging-claims-250984.html

Vitol, Glencore, Shell Compete for Petrobras’ Nigerian Assets

The world’s three largest oil traders are competing to buy the African arm of Brazil’s Petrobras (PETR4.SA) that owns stakes in two major Nigerian offshore oil blocks, industry and banking sources with knowledge of the matter said, after submitting bids earlier this month.

https://www.thisdaylive.com/index.php/2018/05/17/vitol-glencore-shell-compete-for-petrobras-nigerian-assets/

Cooking gas price rises by 15%, says NALPGAM

The price of 20 metric tonnes of Liquefied Petroleum Gas, popularly known as cooking gas, has increased by 15 per cent to N4.6m, the marketers have said.

http://punchng.com/cooking-gas-price-rises-by-15-says-nalpgam/

https://www.dailytrust.com.ng/vat-makes-lpg-price-high-marketers-250998.html

N’Delta coalition writes Buhari, demand oil blocs

The Coalition of Niger Delta Agitators has written to President Muhammadu Buhari asking for a re-distribution of all expired Oil Mining Licences and Oil Prospecting Licences earlier allocated to companies and individuals.

http://punchng.com/ndelta-coalition-writes-buhari-demand-oil-blocs/

Other News

At last, National Assembly passes N9.12tn budget…lawmakers increase NASS budget to N139.5bn

The National Assembly eventually passed the 2018 budget on Wednesday, six months after President Muhammadu Buhari submitted the estimates to both chambers of the assembly.

http://punchng.com/at-last-nassembly-passes-n9-12tn-budget-lawmakers-increase-nass-budget-to-n139-5bn/

2018 budget to face further delay

The 2018 budget is set to face further delay despite its passage by the National Assembly yesterday.

External reserves drop for first time in eight months

The nation’s foreign exchange reserves have declined for the first time in eight months, slipping to $47.793bn, according to the latest data from the Central Bank of Nigeria.

http://punchng.com/external-reserves-drop-for-first-time-in-eight-months/

LCCI raises concern over FOREX multiplicity rate

The Lagos Chamber Of Commerce And Industry (LCCI) has raised concern over use of foreign exchange multiple rate by the Central Bank of Nigeria (CBN) saying that such rate will continue to raise transparency issues with adverse impact on investors’ confidence.

https://www.dailytrust.com.ng/lcci-raises-concern-over-forex-multiplicity-rate-250994.html

PTAD recovers N16bn pension assets from insurance underwriters

The Pension Transitional Arrangement Directorate has so far recovered N16bn of legacy pension funds and assets from insurance underwriters.

http://punchng.com/ptad-recovers-n16bn-pension-assets-from-insurance-underwriters/

FG clears workers’ promotion arrears with N34.2bn

The Minister of Finance, Mrs. Kemi Adeosun, on Tuesday said that the Federal Government would settle the inherited debts and contractual obligations to local contractors between 2006 and 2015.

http://punchng.com/fg-clears-workers-promotion-arrears-with-n34-2bn/

Informal sector growth threatens decent work agenda, says ILO

The high incidence of informality has been identified as a major challenge militating against decent work and sustainable of an inclusive development, as transition to the formal economy is a condition to realise decent work for all, the International Labour Organisation (ILO) has said.

https://guardian.ng/appointments/informal-sector-growth-threatens-decent-work-agenda-says-ilo/

Trends shaping the modern workplace

The workplace as we know it is evolving. Nearly half of executives believe that by 2020, technology such as cloud and Artificial Intelligence will have an impact on their way of working.

http://punchng.com/trends-shaping-the-modern-workplace/

Nine million Nigerians lost jobs under Buhari, says Moghalu

A former deputy governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu, has said that defeating President Muhammadu Buhari in the 2019 general elections will be easy.

http://punchng.com/nine-million-nigerians-lost-jobs-under-buhari-says-moghalu/

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