NEWS REVIEW FOR THURSDAY, JANUARY 12, 2017
Oil & Gas
Scarcity: NNPC refineries resume production of kerosene, diesel
The Nigerian National Petroleum Corporation says its three refineries in Kaduna, Port Harcourt and Warri have resumed production of diesel and kerosene.
‘NNPC/NPDC’s unremitted $4.98bn can wipe out budget deficit’
The Chairman, Senate Committee on Petroleum (Upstream), Senator Tayo Alasoadura, has said the $4.977bn unremitted fund by the Nigerian National Petroleum Corporation and its subsidiary, the Nigeria Petroleum Development Company, is capable of wiping off the 2016 budget deficit of N3tn.
Petrol price template crumbles
The Petroleum Products Pricing Regulatory Agency (PPPRA), which controls the cost of petrol in the country, is in disarray and this is disrupting the implementation of the existing pricing template.
‘Give priority to local oil investors’
The Federal Government will reap greater benefits from improved local procurement in the oil and gas sector than it is currently getting by relying on royalties and corporate taxes, a renowned petroleum expert, Bala Zakka, has said.
Oil workers suspend strike
The Nigeria Union of Petroleum and Natural Gas Workers on Wednesday suspended its three-day nationwide warning strike after a meeting with officials of the Federal Government.
NLNG to increase cooking gas supply, shortage persists
The Nigeria LNG Limited on Wednesday said it has approved an increase in the Liquefied Petroleum Gas dedicated for supply into the domestic market from 250,000 metric tonnes to 350,000 metric tonnes annually.
China plans $40bn investments in Nigeria’s oil pipeline
The Chinese Foreign Affairs Minister, Mr Wang Yi, has disclosed that his government is planning to invest another $40billion on Nigeria’s oil pipeline.
Communities kick over pipeline repair contract, give deadline for dialogue
For awarding a 48-inch pipeline repairs contract to a Lagos-based firm, Hydrodrive Nigeria, Odimodi, Beniboye and Isiayegbene communities in Burutu Local Council of Delta State have come on hard on Shell Petroleum Development Company (SPDC). They flayed the oil major for allegedly not carrying them along.
NCDMB may outlaw outsourcing of jobs in oil sector
The Nigeria Content Development and Monitoring Board (NCDMB) may outlaw outsourcing of jobs that indigenous companies have the capacity to execute.
Maintain ceasefire, PANDEF urges militants, stakeholders THE Pan Niger Delta Forum, PANDEF, yesterday, appealed to all militants and stakeholders in the Niger Delta region to sustain the ceasefire deal despite obvious provocations.
Nigeria’ll get out of recession this year – W’Bank
The World Bank has predicted that Nigeria will get out of recession and grow its Gross Domestic Product by one per cent this year after plunging into its worst recession in over two decades.
Senate rejects ban on vehicle importation through land borders
The Senate has called for the reversal of the Federal Government policy banning the importation of vehicles into the country through land borders.
FG plans review of trade policy
The Federal Government will soon commence a comprehensive review of the country’s trade policy in order to avoid dumping of substandard products in Nigeria by some foreign trade partners.
Robots taking over jobs from factory workers ARTIFICIAL Intelligence machine popularly called robots are fast taking over jobs from factory workers. This is happening globally and already making inroad into the Nigerian manufacturing sector.
FG, states budget N5.6tr for salaries, overheads
The federal and 36 state governments will spend half of their N13.5 trillion total budgets for the year on salaries and overheads, Daily Trust investigation have shown.
Germany pledges to make more young Nigerians employable
Mr Stephen Awoyele, Project Coordinator for the German Dual Vocational Training Partnership with Nigeria, on Thursday expressed his government’s commitment to providing more technical.
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