The Maritime Workers Union of Nigeria (MWUN) has shut down all the nation’s seaports in compliance with the two-day warning strike declared by the Nigeria Labour Congress (NLC).
The NLC, on Tuesday, commenced a two-day Sit-At-Home warning strike in protest against the Federal Government’s failure to address the challenges caused by the removal of fuel subsidies.
It accused the Federal Government of insincerity, lack of commitment to negotiations and failure to implement some of the resolutions from previous meetings with the government.… Read the rest
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, has given reasons why the company didn’t go bankrupt in the face of growing financial obligations occasioned by rising fuel subsidy.
Kyari dropped the hint during a media briefing addressed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun in Abuja at the weekend.… Read the rest
A nine per cent hike in the price of Liquefied Petroleum Gas (LPG) (cooking gas) has added to the frustrations of Nigerians and thrown many into the energy poverty net.
Checks by Daily Sun in Abuja at the weekend showed that cooking gas prices shot up from N680 per kilogram to N745/N746 per kilogram. LPG dealers who spoke to Daily Sunnoted that there was an upward review of prices effective September I in reaction to global hike in prices and other volatilities.… Read the rest
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.
The NUPRC management on Friday said its attention had been drawn to the agitation by host communities in the oil and gas producing areas of the Niger Delta region over the delay by industry settlors/operators in remitting the statutory fees.… Read the rest
Joseph Obele, the Chairman, Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter has said the price of Premium Motor Spirit, known as petrol, would drop to N200/per litre if the country’s refineries are fixed.
Obele disclosed this on Friday in a statement while reacting to the soaring price of fuel after subsidy removal in June.
President Bola Ahmed Tinubu’s administration had pledged to get the Port Harcourt refinery to begin production by December 2023.… Read the rest
Boat operators under the aegis of Lagos State chapter of the Association of Tourist Boat Operators and Water Transporters (ATBOWATON) has determined to overhaul its operational strategies, zeroing on “one zone, one project” agenda to empower its members hit by subsidy removal impacts.
The association disclosed this during an emergency meeting in Lagos, to address the challenges currently faced by its members.… Read the rest
There were indications on Thursday, that the total oil output by the Organisation of Petroleum Exporting Countries (OPEC) rose in August, as Nigeria boosted its total production on the back of the return of Forcados, while Iranian supply rose to its highest since 2018.
A survey found that despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market, Nigeria emerged second in the list of countries that increased output.… Read the rest
Nigeria and other African countries are projected for a boom in floating liquified natural gas (FLNG) as the market is set for new capacity.
The development, according to a new report by Wood Mackenzie would specifically enable Nigeria to monetize its stranded offshore gas resources.
Nigeria has about 209 trillion standard cubic feet of associated gas that has not been harnessed due to infrastructure challenges and operating environment.… Read the rest