OIL & GAS

Baru directs DSDP partners to patronise NNPC Shipping Coy

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has advised all its partners involved in the Direct Sale Direct Purchase (DSDP) scheme to patronise the NNPC shipping subsidiary (NIDAS), as a way of sustaining the profitability of the national oil outfit.

https://www.sunnewsonline.com/baru-directs-dsdp-partners-to-patronise-nnpc-shipping-coy-2/

FG told to ask Shell, Exxon Mobil to list on NSE

Financial expert and Head of FSDH Research, Mr. Ayodele Akinwumi, has described the proposed listing of MTN on the Nigerian Stock Exchange as a welcome development, while urging the Federal Government to persuade other multinationals like Shell, Total Upstream and Exxon Mobil to also list on the NSE.

https://www.dailytrust.com.ng/fg-told-to-ask-shell-exxon-mobil-to-list-on-nse.html

South Africa’s oil discovery signals decline for future Nigerian supply

The discovery of crude oil by French oil and gas major Total in offshore South African could soon herald a gradual decline in demand from Nigeria and could constrain about N340bn worth of crude oil bought from Nigeria in the last three months of 2018. According to latest International trade figures released by the National…

https://businessday.ng/oilandgas/article/south-africas-oil-discovery-signals-decline-for-future-nigerian-supply/

Nigeria cuts 1.484m barrels off oil production

Nigeria, Africa’s biggest crude exporter, slashed a total of 1.484 million barrels of crude in the 28 days of February.
The Federal Government made this known in a statement.
It maintained that this production slash was achieved through 53,000 barrels cut daily in compliance with quota slammed on the country by the Organisation of Petroleum Exporting Countries (OPEC).

https://www.newtelegraphng.com/2019/03/nigeria-cuts-1-484m-barrels-off-oil-production/

 ‘How $32trn climate change push disrupted global oil industry’

Global oil and gas companies are increasingly facing an uphill battle, as global warming policies are taking their toll, a report by oil price.com showed.
Noting that investors had forced Dutch oil and gas major Shell to officially change its strategy, the report stated that this had made the super major to invest in more renewable energy and energy storage.

https://www.newtelegraphng.com/2019/03/how-32trn-climate-change-push-disrupted-global-oil-industry/

W/ Africa Crude: Angolan clears slowly

BP sold a cargo of Kissanje to Unipec. BP was previously offering the cargo at dated Brent plus $1.30 a barrel. The deal price did not immediately emerge but it was below $1 a barrel.

https://www.vanguardngr.com/2019/03/w-africa-crude-angolan-clears-slowly/

Oil Prices Appreciate On Falling US Drilling Activity Oil prices inched up yesterday as Saudi oil minister, Khalid al-Falih, assured that an end to OPEC-led supply cuts was unlikely before June and a report of falling U.S. drilling activity.

https://leadership.ng/2019/03/12/oil-prices-appreciate-on-falling-us-drilling-activity/

Oil nears $67 on Saudi’s export cuts

Oil futures headed higher yesterday amid reports that Saudi Arabia planned to extend efforts to reduce crude exports.

http://thenationonlineng.net/oil-nears-67-on-saudis-export-cuts/

 

 

OTHER NEWS

Beware of mischievous advisers, failed experts, Labour tells Buhari

The Association of Senior Civil Servants of Nigeria (ASCSN) has advised President Muhammadu Buhari to be wary of mischievous individuals and failed experts who are bent on derailing his administration but pretending to wish him well.

https://www.tribuneonlineng.com/195629/

New Minimum Wage, MTEF/FSP, 2019 budget top agenda as Senate resumes today

Barring any unforeseen circumstances, the Senate will resume plenary today, March 12, 2019, with the approval of the new National Minimum Wage Bill, 2019-2021 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP), N8.83 trillion 2019 Budget and other critical bills on top of its agenda. The Senate will also be reconsidering some critical bills earlier rejected…

https://businessday.ng/exclusives/article/new-minimum-wage-mtef-fsp-2019-budget-top-agenda-as-senate-resumes-today/

ASUU chair’s sex-for-marks case takes new twist

The sex harassment claim leading to the suspension of the Chairman of the Ambrose Alli University, Ekpoma, and branch of the Academic Staff Union of Universities, Dr. Monday Igbafen, by the institution has taken a new twist with the family of the woman allegedly sexually harassed by the lecturer demanding an apology from the school.

https://punchng.com/asuu-chairs-sex-for-marks-case-takes-new-twist/