OIL & GAS
PENGASSAN: Strikes not feasible with NNPC’s rehabilitation plans
Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has assured the Federal Government that oil workers may not embark on another round of industrial action if the plans by the Nigerian National Petroleum Corporation (NNPC) to rehabilitate the four state-owned refineries are realised
Kachikwu: deal for OPEC+ cut extension coming
Members and non-members of the Organisation of Petroleum Exporting Countries (OPEC+) deal to curb oil production will possibly be extended, “hopefully for another six months” beyond the end of June, Minister of State, Petroleum Resources, Emmanuel Kachikwu, said yesterday.
‘NPDC cannot begin production until it meets Ogoni demands’
Stakeholders in Ogoni land have said that while they are not averse to the decision of the Federal Government to ask the Nigeria Petroleum Development Company (NPDC) to take over operations in Oil Mining Lease (OML 11), they are however of the view that the company may have the same problems as Shell if it…
Nigeria ignores OPEC quota again, boosts crude oil production
For the third consecutive month, Nigeria failed to comply with the new quota given by the Organisation of Petroleum Exporting Countries as it produced far in excess of its cap.
Major oil marketers aim to reduce supply chain costs
The Major Oil Marketers Association of Nigeria has said it will optimise and reduce supply chain costs through better collaboration and use of technology.
Malabu oil block award ‘illegal’
A consultant hired by Italian prosecutors, Dr. Dayo Ayoade, yesterday in Italy, said award of Malabu Oil Block (OPL 245) to Shell and ENI was illegal.
Firm partners Ondo on $500m modular refinery
A private firm, the Crown Refinery and Petrochemical Limited, on Wednesday, signed a Memorandum of Understanding with the Ondo State Government on the establishment of a $500m modular refinery in the state.
Oando to raise fresh capital, cut debt – CEO
Oando Plc, an indigenous energy group, aims to raise fresh capital over the next two years and repay debt used to acquire ConocoPhillips’ Nigerian assets.
Oil Prices Continue Upward Trend
Oil prices increased for a fourth day yesterday with support from OPEC-led supply cuts and US sanctions overshadowing an industry report showing an unexpected rise in US inventories last week.
Mining sector is next to oil sector – Miners
The newly elected President of the Miners Association of Nigeria (MAN), Alhaji Muhammed Kankara, has said the mining sector is next to the oil sector in terms of revenue generation.
N9trn PenCom fund: Reps threaten to issue bench warrant on PFAs
House of Representatives threatens to issue a bench warrant to compel Pension Fund Administrators to appear before its ad hoc committee if they fail to attend the public hearing on April 4.