OIL & GAS
Oil workers raise alarm over insecurity
Nigeria’s oil workers under the aegis of NUPENGASSAN have said that the Federal Government of Nigeria was not doing enough in tackling insecurity in the country.
Border closure has reduced petrol smuggling, says NNPC
The recent closure of Nigeria’s borders has significantly led to a reduction in the smuggling of Premium Motor Spirit, popularly known as petrol, out of Nigeria, the Nigerian National Petroleum Corporation has said.
NEITI: FAAC Disbursements Slump by N104bn in Six Months
A report released yesterday by the Nigeria Extractive Industries Transparency Initiative (NEITI) showed that the total revenue shared by the three tiers of government in Nigeria – federal, state and local governments– in the first half of 2019 slumped by 2.61 per cent or N104 billion from the corresponding period in 2018.
Help, thieves stealing our 10,000bpd, Shell cries out
Shell Petroleum Development Company of Nigeria Limited has said it is losing about 10,000 barrels of oil per day from its pipelines to crude oil theft.
NLNG tenders $7bn Train-7 Project data to FG
The Nigerian Liquefied Natural Gas (NLNG) limited has submitted its local Content compliance requirements for its $7 billion Train-7 Project.
Downstream: A crisis-ridden sub-sector
The disengagement of 70 oil workers by OVH Energy Marketing limited, a licensee of the Oando retail, climaxed the crisis rocking the downstream oil sub-sector. Adeola Yusuf looks at the hoopla that has chased out all foreign companies with the exception of Total from the ill-fated sub-sector.
Stolen crude: How Navy impounded 130 vessels
The Nigerian Navy has given details of how it impounded over 130 vessels, some of which were laden with stolen crude and petroleum products.
Security hitches mar NNPC’s $2.5bn Chad re-entry
The plan by the Nigerian National Petroleum Corporation (NNPC) to reenter the Chad basin for oil search has suffered a fresh setback. The corporation has expended over $2.5 billion on the preliminary work including seismic evaluation and mobilisation of men and materials for the oil search.
Nigeria Adopts American Standards for Oil Industry Operations
Owing to the growing industry demands and the need to keep up with international best practices in the oil and gas sector in Nigeria, the Standards Organisation of Nigeria (SON) has adopted 10 America Petroleum Institute (API) Standards for the nation.
Petroleum University to build modular refineries, biomass
Pro-Chancellor and Chairman of the Governing Board of the Federal University of Petroleum Resources, Effurun, Delta State, Prof Abdullahi Shehu Zuru, has announced plans to establish modular refineries and biomass production in the country.
‘Digitalisation of oil, gas imperative for productivity’
Business solutions firm focused on accelerating the development and transformation of Africa, Verraki Partners, has said digitalisation of the oil and gas industry will go a long way to addressing many of its challenges.
Crude Oil Price Rebounds to $62 as New Saudi Minister Commits to Output Cuts
Oil prices rose more than two per cent yesterday after the new Saudi Energy Minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country’s policy of limiting crude output to support prices.
Nigerian Crude Finds One More Niche in US Oil Market
Despite the purchase of Nigerian petroleum products by the United States dropping to zero in several months since 2014, crude oil grades from the Niger Delta have now found buyers in California.
NLC to Ngige: Promote social dialogue, tripartiam
The Nigeria Labour Congress (NLC) has asked the Minister of Labour and Employment, Senator Chris Ngige to use the opportunity of his reappointment to promote social dialogue and tripartism in the place of work.
324,141 Disengaged Workers Withdraw N113bn from Pension Funds
As agencies and companies in both the public and private sectors continue to reduce the workforce to cut costs, about 324,141 disengaged employees have withdrawn N113.2 billion from the N9.3 trillion pension assets as at June 2019