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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NEWS REVIEW FOR THURSDAY, MARCH 15, 2018

Oil & Gas

No money to fix refineries – FG
The Federal Government has said that it has no money to fix the nation’s refineries.
https://www.dailytrust.com.ng/no-money-to-fix-refineries-fg.html

Modular refineries not meant to address fuel scarcity – Kachikwu
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday said the modular refineries being planned for the Niger Delta were not meant to address fuel scarcity.

Modular refineries not meant to address fuel scarcity – Kachikwu

IPMAN tasks NNPC on steady supply of petroleum products
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday urged the Nigerian National Petroleum Corporation (NNPC) to intensify the distribution of petroleum products to Western depots, to address shortage in the hinterlands.
https://www.dailytrust.com.ng/ipman-tasks-nnpc-on-steady-supply-of-petroleum-products.html

Reps begin probe of subsidy payment
The joint House of Representatives committee on finance and petroleum (downstream) have resolved to go fully and investigate alleged payments of subsidy by relevant government authorities.
https://www.dailytrust.com.ng/reps-begin-probe-of-subsidy-payment.html

Nigerian crude oil supply weighs on market
Plentiful supplies of Nigerian crude weighed on the market on Wednesday, while Angola’s state oil company sold a Dalia cargo, reducing the number of unsold barrels ahead of the release of May loading programmes.

Nigerian crude oil supply weighs on market

Nigeria’s oil reserves drop by 961 million barrels
Contrary to the Federal Government’s target of increasing crude oil reserves, the country recorded a decline of 961.47 million barrels in four years on the back of low investment in exploration by oil companies.

Nigeria’s oil reserves drop by 961 million barrels

OPEC admits United States shale may crash oil price
The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price of crude oil despite efforts to rebalance the market.

OPEC admits United States shale may crash oil price

FG vs Agip: Court fixes May 28 for $55m debt recovery suit
A Federal High Court in Lagos on Wednesday adjourned until May 28 hearing of a 55 million dollars debt recovery suit by the Federal Government against Agip Oil Company Ltd.

FG vs Agip: Court fixes May 28 for $55m debt recovery suit

UK looking to other countries for gas supply – May
United Kingdom’s Prime Minister, Theresa May, said on Wednesday that the UK was “looking to other countries” for gas supply due to deteriorating relations with Russia triggered by the poisoning of ex-spy Sergei Skripal in the UK.

UK looking to other countries for gas supply – May

FG to reduce sulphur level in diesel by July
After failing to enforce the ban on importation of dirty fuels into the country on July 1, 2017, the Federal Government will cut the sulphur level allowed in diesel by July 1, this year, the Nigerian National Petroleum Corporation has said.

FG to reduce sulphur level in diesel by July

We have stake in solving Nigeria’s petroleum crisis — FUPRE
MANAGEMENT of the Federal University of Petroleum Resources, FUPRe, Effurun, has said that the institution has the potentials to solve Nigeria’s fuel crisis, but lack of funds is destroying the intuition’s vision of being one of the best universities in the world.

We have stake in solving Nigeria’s petroleum crisis — FUPRE VC

Other News

Nigeria’s debt rises by N9.61tn under Buhari
Under President Muhammadu Buhari, Nigeria has grown its debt portfolio by N9.61tn, statistics available from the Debt Management Office have shown.

Nigeria’s debt rises by N9.61tn under Buhari

Inflation falls for 13th consecutive month to 14.33%
The National Bureau of Statistics on Wednesday said the country’s Consumer Price Index, which measures inflation, rose by 14.33 per cent (year-on-year) in February 2018.

Inflation falls for 13th consecutive month to 14.33%

SSANU, NASU, NAAT suspend three-month strike
The non-academic unions of universities, which began an industrial strike since December 4, 2017, has suspended its strike

SSANU, NASU, NAAT suspend three-month strike

Public debt hits N21.7tr, rises by N4.365 trillion
The Nigerian government borrowed N4.365 trillion in 2017, bringing the country’s total debt stock to N21.725 trillion.

Public debt hits N21.7tr, rises by N4.365 trillion

Food prices remain high despite easing inflation
The Consumer Price Index (CPI) which measures inflation increased by 14.33 percent (year-on-year) in February 2018, 0.8 percent points less than January figure, just as food price pressure continued into the month under review as all major food sub-indexes increased.

Food prices remain high despite easing inflation

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NEWS REVIEW FOR WEDNESDAY, MARCH 14, 2018

Refineries’ overhaul to commence in second quarter — NNPC
The Nigerian National Petroleum Corporation, NNPC, Tuesday, disclosed that rehabilitation of the country’s refineries would commence in the second quarter of 2018.

Refineries’ overhaul to commence in second quarter — NNPC

Average price of petrol at N173 — NBS
The National Bureau of Statistics, NBS, yesterday said average price paid by consumers for Premium Motor Spirit, PMS, popularly known as petrol, increased by 15.1 percent year-on-year, YoY, and 9.6 percent month-on-month, MoM, to N172.5 in February 2018.

Average price of petrol at N173 — NBS

Buhari Sacks Boroh, Names Dokubo Amnesty Programme Coordinator
President Muhammadu Buharion Tuesday sacked Brigadier-General Paul Boroh (rtd) as the Coordinator of the Presidential Amnesty Programme and replaced him with Professor Charles Quaker Dokubo.

Buhari Sacks Boroh, Names Dokubo Amnesty Programme Coordinator

Shell, Eni Preempt Possible US Probe over Malabu Deal with Filings
Royal Dutch Shell and Eni have voluntarily filed to the United States authorities internal probes into how they acquired Oil Prospecting Lease (OPL) 245 in Nigeria, as the companies seek to fight corruption allegations in Europe and Nigeria.

Shell, Eni Preempt Possible US Probe over Malabu Deal with Filings

50 oil, gas experts storm Lagos for confab
Over 50 leading oil and gas experts will gather in Lagos on March 20 and 21 to brainstorm on the challenges and opportunities in the volatile sector.The event is the 2nd Lawyers in Oil & Gas Conference holding at Eko Hotel & Suites, Lagos.

50 oil, gas experts storm Lagos for confab

DPR partners NSCDC to prosecute illegal petroleum marketers
The Department of Petroleum Resources (DPR), Eket field office says it has strengthened its partnership with the Nigeria Security and Civil Defence Corps (NSCDC) to prosecute petroleum marketers operating illegal petrol stations in the state.

DPR partners NSCDC to prosecute illegal petroleum marketers


Other news

Land Use Charge: Plaudits and Posers for Ambode
First, let’s deal with the praise, the plaudits, before ending this piece with the questions, the posers.

Land Use Charge: Plaudits and Posers for Ambode

No date for passage of 2018 budget yet – Senate
The Senate has said it is uncertain when the 2018 Appropriation Bill will be passed by the National Assembly.

No date for passage of 2018 budget yet – Senate

Stakeholders’ role in sustaining reforms in Pension industry — Takor
One other issue addressed by PenCom in the framework is the issue of Minimum Guarantee Pension as provided for in Section 84 subsection 1 of PRA 2014.

Stakeholders’ role in sustaining reforms in Pension industry — Takor

MAN cautions FG on free trade agreements
The Manufacturers Association of Nigeria (MAN), yesterday, warned Federal Government over signing free trade agreements, saying that hasty implementation of such agreements could lead to dumping of products in the country.

MAN cautions FG on free trade agreements

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NEWS REVIEW FOR TUESDAY, MARCH 13, 2018

NEWS REVIEW FOR TUESDAY, MARCH 13, 2018

Oil & Gas

PENGASSAN Accuses Indigenous Oil Firms of Flouting Labour Laws
Senior oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has stated that its face-off with indigenous oil companies was premised on their lack of respect for the laws of the land and constitutional provisions guiding their operations and relationship with their employees, especially as regards the rights and privileges of the workers.

PENGASSAN Accuses Indigenous Oil Firms of Flouting Labour Laws

Depot Price of Petrol Slumps as NNPC Floods Market
Motorists and other petrol users may soon experience permanent relief as the ex-depot price of the product, which had hit N160 per litre, was gradually returning to normal at the weekend as the Nigerian National Petroleum Corporation (NNPC) floods the market with petrol

Depot Price of Petrol Slumps as NNPC Floods Market

Kachikwu: How PIGB Will Create Employment, Guarantee Job Security
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has provided a detailed explanation of how the Petroleum Industry Governance Bill (PIGB) would create new job opportunities and guarantee job security when eventually passed into law.

Kachikwu: How PIGB Will Create Employment, Guarantee Job Security

NNPC has not explained missing $22.7bn – NEITI
The Nigeria Extractive Industries Transparency Initiative, an agency tasked with cleaning up the country’s oil industry, has said even though financial accountability has improved, the Nigerian National Petroleum Corporation still has not explained billions of dollars of missing revenue.

NNPC has not explained missing $22.7bn – NEITI

NEITI: NNPC Yet to Explain Missing Billions

Is NNPC’s claim of subsidy payment justified?
Our position from the beginning has been very clear. If we continue this petrol import regime, we will continue to face this type of situation, given that we do not have control over global crude oil prices and the volatility of the exchange rate.

Is NNPC’s claim of subsidy payment justified?

Gas flaring increased by 17.5% last year – NNPC
The total volume of natural gas flared by oil and gas companies in the country rose by 17.46 per cent year-on-year to 287.59 billion standard cubic feet in 2017.

Gas flaring increased by 17.5% last year – NNPC

Nigeria losing revenue to IOCs over delayed PSC review
International oil companies, which entered into Production Sharing Contracts with the Federal Government more than two decades ago, are still enjoying the generous terms they got as talks of re-negotiation over the past few years have yet to materialise

Nigeria losing revenue to IOCs over delayed PSC review

Fuel distribution to worsen as leadership tussle emerges in NUPENG
THERE are indications that the fuel scarcity in the nation may worsen following the emergence of leadership tussle in the National Union of Petroleum and Natural Gas Workers, NUPENG, whose members, especially tanker drivers, are involved in the distribution of petroleum products nationwide.

Fuel distribution to worsen as leadership tussle emerges in NUPENG

Nigeria earns N3.8trn from crude oil, gas export in 3 months
Nigeria earned N3.738 trillion from the export of crude oil and petroleum products in three months, from October to December 2017, according to latest data released by the National Bureau of Statistics, NBS.

Nigeria earns N3.8trn from crude oil, gas export in 3 months

How militancy affected oil output, revenue
THE nation has been cautioned to tame militancy as it culminated in a significant drop in output and revenue a few years ago.

How militancy affected oil output, revenue

Shipments for 2 modular refineries to be installed in Delta, Rivers coming soon – FG
Shipments for two modular refineries that will be installed in Delta and River States will be arriving very soon.

Shipments for 2 modular refineries to be installed in Delta, Rivers coming soon – FG

Return of fuel subsidy
APPARENTLY, the more things change the more they remain the same in Nigeria.

Return of fuel subsidy


Modular refineries will end youth restiveness in Niger Delta -Boroh
The Coordinator of the Presidential Amnesty Programme (PAP),Brig-Gen. Paul Boroh, says the establishment and operations of modular refineries in the Niger Delta will end youth restiveness in the region.
https://www.dailytrust.com.ng/modular-refineries-will-end-youth-restiveness-in-niger-delta-boroh.html

Oil production to contribute 2% growth to Nigeria’s GDP in 2018 – PWC
PricewaterhouseCoopers, PwC, Nigeria said that Nigeria’s real Gross Domestic Product, GDP, will grow at 2.0 per cent year-on-year in 2018, propelled by oil production increase and government spending.

Oil production to contribute 2% growth to Nigeria’s GDP in 2018 – PWC

Business
FG hails NNPC’s foray into renewable energy
The Federal Government has commended the Nigerian National Petroleum Corporation (NNPC) for venturing into the development of renewable energy across the country.
https://www.dailytrust.com.ng/fg-hails-nnpc-s-foray-into-renewable-energy.html

Dr. Parra was true OPEC pioneer, industry innovator – Barkindo
Mohammad Sanusi Barkindo, Secretary General, Organisation of Petroleum Exporting Countries, OPEC has described the late Dr. Alirio Parra, former Energy and Mines Minister of Venezuela as a true OPEC pioneer and great oil industry innovator.

Dr. Parra was true OPEC pioneer, industry innovator – Barkindo

A’Ibom oil communities knock NDDC over messy, second-rate projects
OIL-BEARING communities in Akwa Ibom State have again slammed the Niger-Delta Development Commission, NDDC, for the purported shambolic execution and abandonment of projects across the state.

A’Ibom oil communities knock NDDC over messy, second-rate projects

NCDMB to Drag Violators of Local Content Law to Court, Says Wabote
The Executive Secretary of Nigerian Content Development Management Board (NCDMB), Mr. Simbi Wabote has stated that the NDCMB would be stepping up its enforcement of the local content law among oil and gas operators in Nigeria, adding that it was moving from just notifying operators of their infractions of the law to actually taking legal action against them.

NCDMB to Drag Violators of Local Content Law to Court, Says Wabote


Lessons from UK Court’s Judgment on N’Delta Oil Spills
The recent judgment by the UK Appeal Court on the dispute between Shell and two Niger Delta communities underscores the need for people of the environmentally-polluted region to seek redress in disputes that do not require international arbitration within Nigeria’s judicial system

Lessons from UK Court’s Judgment on N’Delta Oil Spills

EFCC investigates 16 foreigners over crude oil theft
The Economic and Financial Crimes Commission (EFCC) has launched investigation of 16 foreigners arrested for alleged oil theft in Rivers.
https://www.dailytrust.com.ng/efcc-investigates-16-foreigners-over-crude-oil-theft.html

Other News
External reserves hit $46bn, says CBN
The nation’s external reserves hit $46bn on Friday, the Central Bank of Nigeria disclosed in a statement on Friday.

External reserves hit $46bn, says CBN

Group sues Lagos over Land Use Charge
A coalition of citizens, under the aegis of The EIE Project Ltd./GTE, has dragged the Lagos State Government to court, seeking the reversal of some portions of the state’s Land Use Charge Law 2018.

Group sues Lagos over Land Use Charge

Land Use Charge: Lagos to Address Concerns of Residents This Week
Amid the sustained public objection to the enforcement of the recently enacted Land Use Charge (LUC) Law, the Lagos State Government Monday said that it would ameliorate the concerns of stakeholders in the state, mainly business executives and captains of industries, this week.

Land Use Charge: Lagos to Address Concerns of Residents This Week

US cautions Nigeria, others on foreign loans
The United States does not seek to stop Chinese investments in Nigeria and other African nations, but advises them to be careful in taking foreign loans.

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NEWS REVIEW FOR MONDAY, FEBRUARY 12, 2018

NEWS REVIEW FOR MONDAY, FEBRUARY 12, 2018

Oil & Gas

‘Egina recorded over 50% Nigerian Content’

The Nigerian Content achievement recorded on the Total Upstream Egina deepwater project exceeded 50 percent, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, said on Wednesday.

https://www.dailytrust.com.ng/-egina-recorded-over-50-nigerian-content.html

 

Reps ask PEF to settle debts owed petroleum transporters

A House of Representatives panel has asked the Petroleum Equalisation Fund (PEF) to ensure that it quickly and promptly settles all outstanding debts it owes petroleum transporters in the country.

https://www.dailytrust.com.ng/reps-ask-pef-to-settle-debts-owed-petroleum-transporters.html

 

Dangote graduate trainees vows to end fuel scarcity

Newly trained Dangote Refinery graduate engineers have promised an end to the ongoing fuel scarcity in the country when  the Refinery takes off.

https://www.dailytrust.com.ng/dangote-graduate-trainees-vows-to-end-fuel-scarcity.html

 

‘Why Kaduna refinery is not working, profitable’

On Thursday February 15, it would be exactly one month since the Kaduna Refining and Petrochemical Company (KRPC) shut down operations, due to the non-availability of crude oil.

https://guardian.ng/news/why-kaduna-refinery-is-not-working-profitable/

 

Nigerians deserve to know crude oil lifting data – PWYP

The Civil Society Organisation Publish What You Pay (PWYP) Nigeria has called on the Federal Government to ensure that Nigerians know the exact quantity of crude produced and lifted daily.

 https://www.dailytrust.com.ng/nigerians-deserve-to-know-crude-oil-lifting-data-pwyp.html

PDP asks Buhari to quit as petroleum minister

The Peoples Democratic Party (PDP) has asked President Muhammadu Buhari ‎to quit as Minister of Petroleum Resources in view of the lingering fuel crisis in the country.

https://www.dailytrust.com.ng/pdp-asks-buhari-to-quit-as-petroleum-minister.html

 

Nigeria to export 1m barrels of first oil from $16bn Egina project

There are indications that the coming on stream of the $16 billion Egina project will enhance the revenue profile of Nigeria and other stakeholders as plans have been concluded to export one million barrels in January, 2019.
https://www.vanguardngr.com/2018/02/nigeria-export-1m-barrels-first-oil-16bn-egina-project-january-2019/

 

DPR Embraces Automation of Downstream Operations

The recent introduction of online registration of coastal vessels operating in Nigeria’s territorial waters and fuel retail outlets in the country by the Department of Petroleum Resources will enhance the digitalisation of operations in the downstream sector and improve the country’s position in the global Ease of Doing Business ranking.

http://www.thisdaylive.com/index.php/2018/02/11/dpr-embraces-automation-of-downstream-operations/

 

Host communities condemn attack on oil firm’s manager

An attack on the Public Affairs Manager of ExxonMobil, Mrs. Regina Udobong, has been condemned by youths in the oil company’s host communities of Ibeno, Eket, Esit Eket, and Onna Local Government Areas of Akwa Ibom State.

http://punchng.com/host-communities-condemn-attack-on-oil-firms-manager/

 

NNPC, Kogi to sign biofuel production MoU Tuesday

The Nigerian National Petroleum Corporation and the Kogi State Government will on Tuesday sign a Memorandum of Understanding for the production of ethanol, an organic biofuel that can be used to power automobiles.

http://punchng.com/nnpc-kogi-to-sign-biofuel-production-mou-tuesday/

 

Buhari’s re-election bid fueling sleazes in oil sector, PDP alleges

The Peoples Democratic Party (PDP) has alleged that the President Muhammadu Buhari’s re-election bid has promoted large-scale corruption in the petroleum sector, a development, which he has refused to address.

https://guardian.ng/news/buharis-re-election-bid-fueling-sleazes-in-oil-sector-pdp-alleges/

 

DPR Cautions Filling Stations against Cheating

The Department of Petroleum Resources (DPR), Eastern zone has fined one filling station appropriately in Owerri metropolis, capital of Imo State for under dispensing premium motor spirit (PMS).

http://www.thisdaylive.com/index.php/2018/02/12/dpr-cautions-filling-stations-against-cheating/

 

Military Takes Over Oil Rich Ugborodo Community, Kills One Pirate in Delta

There was a fierce shoot out between suspected oil thieves, pirates, armed youths and heavily armed soldiers from the Joint Task Force (JTF) code-named Operation Delta Safe yesterday in  the troubled oil-rich Ugborodo community in Escravos, Warri South-West Local Government Area of Delta.

https://www.thisdaylive.com/index.php/2018/02/12/military-takes-over-oil-rich-ugborodo-community-kills-one-pirate-in-delta/

 

Other News

Nigeria’s poverty level worrisome — DG, Budget Office

The Director-General, Budget Office of the Federation, Ben Akabueze, in this interview with journalists speaks on the challenges of budget implementation and efforts by the government to get the country back to a predictable budget year

http://punchng.com/nigerias-poverty-level-worrisome-dg-budget-office/

 

Customers continue to pay more on loans, earn less on deposits

Except the seven-day and one-month maturity deposit rates, all other forms of deposits in the banking industry lost values in the fourth quarter of 2017, when compared with the third quarter records.

https://guardian.ng/business-services/customers-continue-to-pay-more-on-loans-earn-less-on-deposits/

 

Slash legislators’, ministers’ pay by half, Sanusi tells Buhari

Emir of Kano, Sanusi Lamido Sanusi II has canvassed for a review of the salaries of National Assembly members and minsters by half with a view to creating more jobs for Nigerian unemployed youths.

https://guardian.ng/news/slash-legislators-ministers-pay-by-half-sanusi-tells-buhari/

 

Health Workers Give FG 21-day Strike Notice

A strong indication of an  industrial strike in the health sector emerged yesterday as members of Joint Health Sector Unions (JOHESU) and Assembly of Healthcare Professional Associations (AHPA) have vowed to embark on a nationwide strike if the federal government does not address their three discontentment.

https://www.thisdaylive.com/index.php/2018/02/12/health-workers-give-fg-21-day-strike-notice/

 

OHCSF, AIG Move to Reposition Nigeria’s Civil Service

The Office of the Head of the Civil Service of the Federation (OHCSF) and the Africa Initiative for Governance (AIG) recently reiterated their joint commitment to reforming the Nigerian Civil Service in a private-public partnership.

http://www.thisdaylive.com/index.php/2018/02/12/ohcsf-aig-move-to-reposition-nigerias-civil-service/

 

Agusto & Co: Nigeria’s Borrowing Binge, a Fiscal Time Bomb

Nigeria’s research and rating agency, Agusto & Co, has stressed the need for the federal government to address what it described as the “fiscal risks lurking in Nigeria’s deficit,” projected at over N3trillion in 2018 alone.

https://www.thisdaylive.com/index.php/2018/02/12/agusto-co-nigerias-borrowing-binge-a-fiscal-time-bomb/

 

 

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NEWS REVIEW FOR THURSDAY, FEBRUARY 1, 2018

NEWS REVIEW FOR THURSDAY, FEBRUARY 1, 2018

Oil & Gas

No fuel subsidy but under-recovery, says Adeosun

The Federal Government on Wednesday insisted that there was no subsidy payment on petrol as it was being done before now.

http://punchng.com/no-fuel-subsidy-but-under-recovery-says-adeosun/

 

FG lost N84bn to ailing refineries in 11 months

The nation’s refineries made a total loss of N84bn from January to November last year, as they continued to operate far below their installed capacity.

http://punchng.com/fg-lost-n84bn-to-ailing-refineries-in-11-months/

 

NNPC to partner private sector to build pipelines

The Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru, has asked the new board of one of the downstream subsidiary firms, the Nigerian Pipeline Storage Company, to enter into partnerships with the private sector to build more pipelines parallel to the corporation’s existing ones.

http://punchng.com/nnpc-to-partner-private-sector-to-build-pipelines/

 

IPMAN to begin construction of $3bn refinery

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to commence work on its proposed $3 billion (N1.08 trillion) refinery in two states in the federation.
https://www.vanguardngr.com/2018/01/ipman-begin-construction-3bn-refinery/

 

NNPC to refurbish, double pipeline network in 10 years

The Nigerian National Petroleum Corporation, NNPC, yesterday announced plans to refurbish all its existing pipeline and also double the country’s pipeline network within the next 10 years.
https://www.vanguardngr.com/2018/02/nnpc-refurbish-double-pipeline-network-10-years/

 

NNPC Asks Subsidiary to Build More Downstream Pipelines With Private Partners

The Nigerian National Petroleum Corporation (NNPC) has tasked one of its downstream subsidiary companies, the Nigerian Pipeline Storage Company (NPSC) to build new pipelines to transport petroleum products across the country through new partnerships with private investors.

https://www.thisdaylive.com/index.php/2018/02/01/nnpc-asks-subsidiary-to-build-more-downstream-pipelines-with-private-partners/

FG Blames Constrained Oil Output for Stagnant ECA

The federal government Wednesday provided clarity on why the proceeds in the excess crude account (ECA) have remained stagnant despite rising oil prices, saying constrained production volumes had undermined rising crude prices.

https://www.thisdaylive.com/index.php/2018/02/01/fg-blames-constrained-oil-output-for-stagnant-eca/

 

Shell’s annual profit triples to $13bn

Royal Dutch Shell said Thursday that profit after taxation almost tripled to just under $13bn (10.5 billion euros) in 2017, energised by rising oil and gas prices.

http://punchng.com/shells-annual-profit-triples-to-13bn/

 

Gas marketers allege sabotage on Magodo explosion, seek investigation

The Nigerian Association of Liquefied Petroleum Gas Marketers Association (NALPGAM) has described as an act of sabotage, the recent gas explosion at the Second Coming Company Nigeria Limited’s plant in Lagos.

https://guardian.ng/business-services/gas-marketers-allege-sabotage-on-magodo-explosion-seek-investigation/

 

Five months after, oil community still occupies flow station, wants Shell out

Kula Kingdom in Akuku-Toru Local Government of Area of Rivers State, hosting OML 25 operated by Shell Petroleum Development Company (SPDC), is still occupying the flow station five months after.

https://guardian.ng/business-services/five-months-after-oil-community-still-occupies-flow-station-wants-shell-out/

 

OPEC January oil output rises, led by Nigeria

Crude oil production from the Organisation of Petroleum Exporting Countries rose in January from an eight-month low as higher output from Nigeria and Saudi Arabia offset a further decline in Venezuela and strong compliance with a supply reduction pact.

http://punchng.com/opec-january-oil-output-rises-led-by-nigeria/

 

FG Pledges Availability of Adequate Cooking Gas

To reduce to the barest minimum, attendant health hazards associated with the use of firewood and kerosene stove for household and commercial, the federal government will boost the implementation of her gas policy by making liquefied petroleum gas, otherwise known as cooking gas abundantly available to everyone irrespective of socio-economic status.

http://www.thisdaylive.com/index.php/2018/01/31/fg-pledges-availability-of-adequate-cooking-gas/

 

Other News

FG’ll prepare supplementary budget for wage increase – Akabueze

The Federal Government will prepare a supplementary budget to take care of workers’ demand for an increase in salaries when the new minimum wage proposal, which is currently being worked on, is eventually approved.

http://punchng.com/fgll-prepare-supplementary-budget-for-wage-increase-akabueze/

 

2018 budget cannot be padded, DG Budget Office

The Director-General, Budget Office of the Federation, Mr Ben Akabueze, says the Federal Government’s 2018 Budget cannot be padded.

http://punchng.com/2018-budget-cannot-be-padded-dg-budget-office/

 

Over 25,000 pensioners not on FG payroll – NUP

More than 25,000 pensioners are still excluded from Federal Government’s payroll of retirees, according to the Nigerian Union of Pensioners (NUP).
https://www.vanguardngr.com/2018/01/25000-pensioners-not-fg-payroll-nup-2/

 

Pensioners threaten Rivers with legal action over increment in pension

Retired civil servants in Rivers State have threatened legal action against the state government over alleged refusal to increase their pension as directed by National Salaries, Incomes and Wages Commission, NSIWC.
https://www.vanguardngr.com/2018/01/pensioners-threaten-rivers-legal-action-increment-pension/

 

January PMI index records slow growth, says CBN

The Central Bank of Nigeria (CBN) yesterday reported that the January 2018 Purchasers Manager Index (PMI) – a survey which measures the productive activities in the manufacturing and non-manufacturing sectors of the country grew to 57.3 pet cent, howbeit sluggishly in comparative terms with previous growth trajectory.

https://guardian.ng/business-services/january-pmi-index-records-slow-growth-says-cbn/

 

‘Manufacturing Will Lift Nigeria Out of Poverty’

Foremost Economist and a former Adviser to former President Olusegun Obasanjo, Prof Osita Ogbu has said that the nation’s poverty level will continue to remain high until there’s a proper transition from oil to manufacturing.

http://www.thisdaylive.com/index.php/2018/02/01/manufacturing-will-lift-nigeria-out-of-poverty/

 

Nigeria Ranked Low on Budget Transparency Index

Nigeria slipped into 90th place behind Zimbabwe and Afghanistan in the global Open Budget index released on Thursday.

https://www.thisdaylive.com/index.php/2018/02/01/nigeria-ranked-low-on-budget-transparency-index/

 

 

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