...Baru appeals for calm
Threats by oil workers union under the aegis of National Union of Petroleum and Natural Gas Workers (NUPENG) to shut down the sector may affect the already troubled supply and distribution of petrol across cities in the country, the Nigerian National Petroleum Corporation (NNPC) warned on Friday.
Erin Energy has completed the drilling of the Oyo North West (Oyo-NW) well off Nigeria and, based on preliminary evaluation, it has discovered hydrocarbons in the Miocene Formation.
The Oyo-NW well is located approximately 9.5 kilometers northwest of the Oyo Central field on the company’s offshore Nigeria block 120. Erin Energy started drilling the well using the Pacific Bora drillship in December 2017.
• Palletisation plan threatens foreign reserve
• Triggers cargo diversion to neighbouring countries
The Federal Government’s new policy on cargo palletisation could rob the economy of over N500 billion yearly and send importers to the ports of neighbouring countries.
Palletisation is a method of storing and transporting goods stacked on a pallet and shipped as a unit load. It permits standardised ways of handling loads with equipment like forklift trucks.
The federal government has admitted that part of the funds expected to accrue to the Federation Accounts from the sale of crude are being used to pay for the differential between the landing cost of petrol and the pump price.
It would be recalled that at the height of fuel scarcity in December last year, independent marketers claimed that they withdrew from importation of petrol because they could no longer recoup their cost as the landing cost of fuel was N171 per liter while the pump price was fixed at N145 per litre.
...Nigeria receives applications for seven modular refineries in Edo State
The Federal government on Thursday announced plans to build an oil refinery by Nigeria and neighbouring Niger Republic.
The Minister of Petroleum Resources, Ibe Kachikwu, led a Nigerian government delegation to Niamey, the Nigerien capital, on Wednesday to discuss a firm agreement for the design and construction of the refinery.
In fulfilment of their commitments to the development of Nigerian Content in the Oil and Gas Industry, Shell Nigeria Exploration and Production Company (SNEPCo) and Cameron Flow Control Technology Nigeria Limited recently concluded on the job training (OJT) for nine young persons.
The beneficiaries were selected through the Nigerian Oil and Gas Industry Joint Qualification System (NOGIC JQS) and the trainings were conducted at the Dormanlong facility in Lagos and Cameron yard, Port Harcourt, Rivers State for one year.
...Sets 10-year target for 100% expansion of pipeline network
The Group Managing Director of the Nigerian National Petroleum Corporation (NNC), Dr. Maikanti Baru, has urged the new Board of one of its downstream subsidiary companies, the Nigerian Pipeline Storage Company (NPSC), to partner with the private sector to build more pipelines parallel to the corporation’s existing ones.
The United States Coast Guard (USCG) has expressed satisfaction at the compliance level of Nigeria with the International Ships and Ports Security (ISPS) facility Code at the nation’s ports.
A delegation from the USCG led by Lt. Commander Jacob Hopper of the International Port Security (IPS) Liaison for USCG in West and Central Africa and Europe who were on a two-day visit to some of the ports in Lagos stated that there has been a lot of improvements in the nation’s port as a result of the security architecture put in place.