NPA to sanction owners of trucks illegally operating around ports

The Nigerian Ports Authority (NPA), Western Ports, has said owners of any truck loitering along the ports access roads without an authority to load would be fined. General Manager of the NPA, Michael Ajayi, stated this in an interview on Wednesday in Lagos adding that owners of such trucks would pay a fine of N20,000.

He said that information gathered indicated that some trucks drivers parked along the ports’ access roads, hunting for customers.

Profit Motive Driving Oil Majors to Downsize, Says FG

The federal government on Thursday in Abuja accused oil majors operating in the country of not being sincere in their plans to downsize their workforce, stating that profit motive is the main aim in their quest to sack workers.

The Minister of Labour and Employment, Chris Ngige, at a parley with labour and oil companies criticised some foreign oil firms operating in Nigeria, stressing that their motive for profit usually supercedes the need to give back part of their proceeds in the sector.

NNPC embarks on a massive import as Port Harcourt and Kaduna refineries remain shut

To close the gap created by the shutdown of Port Harcourt and Kaduna refineries, the Nigerian National Petroleum Corporation (NNPC) has embarked on a massive importation of Premium Motor Spirit (PMS). Also, major and independent petroleum marketers have continued to import PMS into the country despite the absence of subsidy in the 2016 budget.

Oil price crash won’t undermine local content devt drive –NCDMB

The Nigerian Content Development and Monitoring Board, NCDMB, has ruled out any negative effects of the sharp decline of crude oil prices in the international market on the implementation of the local content policy in Nigeria. There has been apprehension among many indigenous operators in the nation’s oil and gas sector that the worsening slide in the price of crude oil, which is also taking its toll on International Oil Companies IOCs in the country, would also affect them negatively.

NSCDC inaugurates gunboats to tackle Pipeline Vandalism

The Nigeria Security and Civil Defence Corps (NSCDC), yesterday, inaugurated gunboats in Bayelsa State to tackle pipeline vandalism and other maritime crimes.

The gunboats were sent to the state command of NSCDC by the Federal Government a few days after suspected vandals attacked pipelines belonging to the Nigerian Agip Oil Company (NAOC) in Brass, Brass Local Government Area.

National Assembly will ensure passage of PIB – Saraki

President of the Senate, Dr. Abubakar Bukola Saraki has assured stakeholders in the petroleum sector that the 8th Senate will live up to the yearning of Nigerians by passing the Petroleum Industry Bill (PIB) which will add value and restore the pride of the industry.

Senator Saraki stated this when he played host to the In-coming Chairman, Extractive Industries Transparency Initiative (EITI), Mr. Fredrick Reinfeldt and his team in Abuja.

Gard Alert on Revised Nigerian "Letter of Comfort"

 Norwegian maritime insurer Assuranceforeningen Gard (Gard) Tuesday released an alert over a revised "Letter of Comfort" regarding the banning of tankers in Nigerian waters, which has been issued by the Nigerian National Petroleum Corporation (NNPC).

Gard says the revised letter "addresses some earlier concerns" but suggests "problems remain."

Issues cited by Gard include confusion over who is required to sign a Letter of Comfort and what activity would be considered a breach of a Letter of Comfort.

Nigerian Navy foils ship hijack, rescues 25 foreigners

Nigerian Navy

About twenty five foreigners including Britons, South Africans, Indians, Filipinos and Thais were rescued as the Nigerian Navy foiled an attempt by suspected sea pirates to hijack and abduct them aboard a Maersk merchant ship.

The ship was carrying general cargo to Nigeria at the time of the attack.

Executive Officer of the Nigerian Navy Ship (NNS) Pathfinder Navy Capt. Olusegun Soyemi, stated that the vessel arrived safely with the rescued crew members yesterday at Onne Port in Rivers State.