Maritime workers suspend strike

The Maritime Workers Union, MWUN, on Tuesday suspended its strike as the federal government pledged to tackle all demands raised by the union.
Chris Ngige, Minister of Labour and Employment, made this known after a conciliatory meeting between the union and the Ministry of Transportation, Ministry Power, Works and the Management of the Nigerian Ports Authority, NPA, in Abuja.

Production of Nigeria’s largest crude oil grade drops – Data

Production of Qua Iboe Crude, Nigeria’s largest crude oil stream, has dropped to its lowest level for the first time since 2010.

Latest crude/condensate production by streams data obtained from the Department of Petroleum Resources (DPR) shows that output of the crude collapsed by about 41 per cent from 135 million barrels in 2010 to 79 million barrels in 2016, the year militant attacks cut Nigeria’s production to its lowest in decades.

SIFAX faults govt on cargo palletisation

SIFAX Group has faulted plans by the Federal Government to commence implementation of its cargo palletisation policy. Pallets are plane (flat) structures utilised in cargo container ships for supporting goods or containers.

When cargo consignments are piled atop these structures, the process is referred to as palletising. General Manager, SIFAX Shipping Company Limited, a subsidiary of SIFAX Group, Henry Ajoh, who disclosed this in Lagos, urged the Federal Government to reconsider its position on the implementation of the cargo palletisation policy.

India ups demand for Nigerian crude

More cargoes of Nigerian crude oil are now heading for India on a daily basis after loadings to China witnessed decline in recent times.

Reuters reported citing a survey of vessel fixtures and traders that Indian refineries booked the largest amount of West African oil per day in February since April 2015.

The purchases helped to offset a steep drop in bpd-loadings of Nigeria, including Angolan crude for China, which fell to 1.22 million bpd from a record of 1.59 million bpd the previous month.

Aviation fuel: Nigeria's loses to regional neighbours hit N110bn annually

...CITA, Puma sign new pact to boost supplu 
Except fuel marketers improve on their aviation fuel supply chain, the aviation industry would continue to fail to meet up with over one billion litres of Jet A1 needed for the sector annually. 
At N220 per litre cost, 500 million litres demands could not be met last year. Consequently, the sector loses over N110 billion to neighbouring Lome, Benin and Accra, Ghana as Nigeria can only supply 500 million litres of fuel to airlines.

Chinese firm loses bid to stop trial on $12b missing crude oil

Justice Rilwan Aikawa Aikawa of a Federal High Court, Lagos has struck out the preliminary objection filed by China National Offshore Oil Corp (CNOOC) Exploration and Production Nigeria Limited against the Federal Government in a $12b missing crude oil suit.
In the suit, the Federal Government of Nigeria, through its counsel, Prof. Fabian Ajogwu,  is seeking to recover lost revenues from some International Oil Companies (IOCs) arising from undeclared and under-declared crude oil shipments from Nigeria to different parts of the world between 2011 and 2014.

Seplat lists additional 25m shares on NSE

Seplat lists additional 25m shares on NSE
Leading indigenous Nigerian oil and gas exploration and production company, Seplat Petroleum Development Company (Seplat) Plc, has announced listing additional shares on the floor of the Nigerian Stock Exchange (NSE).
A statement issued on Friday by the firm with a strategic focus on Nigeria disclosed that it’s listing an additional 25,000,000 ordinary shares on the NSE.