NEWS REVIEW FOR WEDNESDAY, JANUARY 11, 2017
Oil & Gas
Oil workers score NNPC’s boss high
Oil workers say the administration and programmes of the current Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, are worker friendly.
23 ships laden with petroleum products, food items, to arrive Lagos
At least, about 23 ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin-Can Island ports in Lagos from January 10 to January 21, 2017.
Petroleum sector loses N220b to pipeline sabotage
Nigeria’s petroleum sector in the last eleven months, lost over N220 billion to pipeline sabotage.
Government to award oil blocks, marginal fields, pass PIB this year
The Federal Government has unveiled a number of plans for the petroleum industry under the current fiscal year, which include conducting a new licensing round for the award of oil blocks and allocation of marginal fields in order to raise revenue for the country.
Oil workers down tools over unpaid salaries
Oil and gas workers in southern Nigeria downed tools on Tuesday over the alleged non-payment of salaries, with the walk-out hitting production and threatening electricity supplies.
Nigeria, others to spend $201.3 billion on petrochemical industry
Global petrochemical industry is expected to spend around $201.3 billion by 2020 on different future projects.
NUPENG Begins Three-day Strike Today to Protest Sack of Members
The National Executive Committee of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has taken a decision to commence a three-day warning strike to protest “anti-labour practices” in the oil and gas sector.
NUPENG strike: Fuel depots shut down nationwide
Fuel depots across the country have been shutdown as a result the three-day warning strike embarked upon by the Nigeria Union of Petroleum and Natural Gas Workers, which started today, in protest to anti-Labour practices in the oil and gas sector.
Oil prices edge up on reports of Saudi supply cuts
Oil edged up on Wednesday, lifted by reports of Saudi supply cuts to Asia, but prices were prevented from rising further over a lack of detail of these reductions and because of signs of rising supplies from other producers.
Recession: Indigenous oil companies sell off assets THE current economic recession in the country appears to have taken its toll on indigenous players in the nation’s oil and gas industry as some of them have been selling off their assets to pay back loans taken from banks.
Nigeria to Begin Tracking of Oil Production, Sales Destination
Nigeria will from this year begin to track the volume of its crude oil production from fields of production and loading bays, to sales destinations in a renewed effort to cut down on prevalent oil theft and loss of revenue, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said.
Drill gas units and hydrocarbon analysis
According to a paper by Carl Bright of iBall Instruments of Oklahoma in the United States, drill gas units are a relative percentage of an unknown mix of gaseous hydrocarbons in it multiplied by 100.
Brass fertiliser company signs $6b off-take deal with BP
Brass Fertiliser & Petrochemical Company Limited (BFPCL) has signed a $6 billion off-take deal with BP Oil International Limited as a major breakthrough in the development of the Phase One of the $4 billion Brass Fertilizer project.
Stranded vessel: Cooking gas price hits N5,000
The inability of a vessel carrying Liquefied Petroleum Gas, popularly known as cooking gas, to berth and discharge in Lagos has caused the price of the product to soar to N5,000 per 12.5kg.
Jonathan distances self from Malabu Oil deal
Former President Goodluck Jonathan has denied media reports that he received gratification before approving the controversial Malabu Oil deal.
$153m Diezani loot: EFCC set to declare ex-NNPC director wanted
The Economic and Financial Crimes Commission may declare wanted a former Deputy Group Managing Director of the Nigerian National Petroleum Corporation, Ben Otti, if he refuses to make himself available to the commission http://punchng.com/153m-diezani-loot-efcc-set-declare-ex-nnpc-director-wanted/
Unsold goods threaten jobs as inventory hits N100 billion
Members of the Manufacturers Association of Nigeria (MAN) last year recorded the highest inventory since the group came into being. They are certain there will be further job losses this year.
Senate begins work on laws to create 7.5m jobs
Eleven economic executive bills being considered by the Senate will create 7.5 million as recession-induced job losses persist, President of the Senate, Bukola Saraki http://guardian.ng/news/senate-begins-work-on-laws-to-create-7-5m-jobs/
Senate opposes Abuja airport closure, summons Amaechi, Fashola, others
The Senate on Tuesday opposed the planned closure of the Nnamdi Azikiwe International Airport, Abuja, for the repairs of its runway and the diversion of flights to the Kaduna airport.
External reserves continue increase, hit N26.5bn
The country’s external reserves rose to $26.55bn on January 9, from $26.2bn on January 6, the latest data from the Central Bank of Nigeria showed on Tuesday.
Pirate attacks in Nigeria rise by 157 per cent in 2016 – Maritime watchdog
The number of maritime kidnappings hit a ten-year high in 2016, with all pirate attacks off Nigeria rising from 14 in 2015 to 36 last year.
This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system