At least 37 people, including two pregnant women, were burned to death after a blast in an illegal oil refinery in a community in River State, South-south Nigeria, a report has said.
The incident occurred in the early hours of Monday in the Ibaa community, in Rivers State, Reuters reported on Tuesday, quoting a local security official and community leader.… Read the rest
OPEC oil output rose for a second straight month in September, a Reuters survey found on Monday, led by increases in Nigeria and Iran despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
Last month, the Organization of the Petroleum Exporting Countries pumped 27.73 million barrels per day (bpd), the survey found, up 120,000 bpd from August.… Read the rest
The Nigerian government announced, on Sunday, the waiver of Value Added Tax (VAT) on diesel for the next six months to address the impact of petroleum subsidy removal in the country.
The waiver is part of the resolution reached during the meeting between the labour unions and the government delegation, information minister Mohammed Idris said in a late Sunday statement.
The meeting was held a few hours after Mr Tinubu addressed Nigerians on the occasion of Nigeria’s 63rd Independence Anniversary.… Read the rest
A strong call has gone to the Federal Government to hands off all the refineries to the private sector.
The call came from gas, refining, and petrochemicals experts who operate under an institute at the University of Port (UNIPORT) Harcourt.
Nigeria had once sold off the refineries but public pressure led by Labour forced the FG to re-acquire them, but they have remained comatose all this while.… Read the rest
Oil prices edged up on Monday, recouping some of the losses suffered at the end of last week, as investors focused on a tight global supply outlook. At the same time, a last-minute deal that avoided a US government shutdown restored risk appetite.
According to Reuters, Brent December crude futures rose 25c, or 0.3%, to $92.45 a barrel by 4.15am GMT (6.15am) after falling 90c on Friday.… Read the rest
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed all its members nationwide to withdraw their services and shut down refineries, filling stations and other areas of operation under the union’s portfolio from midnight on Tuesday, October 3.
The union in a statement jointly signed by its President, William Akporeha and General Secretary, Afolabi Olawale, said that the directive was in compliance with the Nigeria Labour Congress (NLC) National Executive Council (NEC) resolution, as well as joint resolution of NLC and Trade Union Congress (TUC).… Read the rest
Fluenta, a global leader in ultrasonic sensing technology for measurement of flare gas says it has completed installation of 18 ultrasonic flare gas meters on large pipelines around the Dangote Refinery Plant in Nigeria.
Mr Radek Kurkowski, a Director at Fluenta, said on Thursday that it spent more than four months working with its exclusive Nigerian representative, Daptem Engineering, and the Dangote project team to deliver a workable, accurate and reliable flare measurement solution.… Read the rest
Lokpobiri who gave the assurance when the leadership of Independent Petroleum Producers Group, IPPG, and the Oil Producers Trade Section, OPTS, visited him in Abuja yesterday, said the government was committed to removing all bottlenecks hindering ease of exploration and production in the energy sector.
Current oil production figures show that Nigeria produced 1.18 million barrels per day (mbpd) last month against OPEC quota of 1.7mbpd and the 1.69mbpd set in this year’s budget.… Read the rest
The Nigerian Union of Petroleum and Natural Gas (NUPENG) on Thursday directed its members to commence full mobilisation to ensure compliance with the directive of the Nigerian labour unions to embark on an indefinite strike.
Members of NUPENG include the influential Petroleum Tanker Drivers (PTD) whose members drive the petrol and diesel tankers that distribute the products from Lagos, where they are imported, across Nigeria.… Read the rest
Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has appealed to government to ensure stability in price of gas.
The appeal was made during the 36th Annual General Meeting of NALPGAM held at Golden Tulip in Ibadan, Oyo State capital.
The National President of NALPGAM, Mr Abideen Olatunbosun, noted the importance of prioritising gas availability for all Nigerians.