Category: Oil & Gas

TUC, NLC vow to Shut Down Nigeria’s economy Sept 28 over fuel, electricity tariff hike

Precious Ibekwe

  The Nigeria’s Trade Union Congress (TUC) has aligned with its counterpart, the Nigeria Labour Congress (NLC) to ground economic activities in the country into a total halt on September 28. The planned total shutdown of economy, the congress said, would go on in colaboration with NLC if the Nigerian Government refuses to reverse the recent hike in petrol price and electricity tariff. This was coming as the National Executive Council of the NLC, ratified the decision the decision of its Central Working Committee to stage a nationwide protest on…

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NNPC recruits women, physically challenged for $2.8bn AKK, other projects

Efe Wellington

. Inclusive employment earns NNPC Federal Character Commission accolades The Nigerian National Petroleum Corporation (NNPC) on Monday revealed its employment pattern on the $2.8 billion Abuja-Kaduna-Kano (AKK) gas pipeline to include women, people in wheel chairs, the blind and other physically challenged. The pattern, which lined up the corporation as one of the institutions of government with the highest number of women in management has also earned NNPC an applause from the Federal Character Commission (FCC). The Executive Chairman of the Commission, Dr. Muheeba Farida Dankaka, gave the commendation in…

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NNPC’s oil trading surplus hits 858%, swells to ₦20.36bn in July

Efe Wellington

The Nigerian National Petroleum Corporation (NNPC) had a clean slate in July, recording 858 per cent increase in trading surplus of ₦20.36 billion in July 2020 compared to the ₦2.12 billion surplus in June 2020. The Monthly Financial and Operations Report (MFOR) of the Corporation, sighted by Platforms Africa, which showed this, also indicated that the 858 per cent overall upswell in performance was largely due to the 178 per cent rise in the surplus posted by the Nigerian Petroleum Development Company (NPDC), NNPC’s flagship Upstream entity. The NPDC’s impressive…

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How NNPC’s litigation team clawed back $5.48bn, bagged Africa Arbitration Award

Efe Wellington

The Nigerian National Petroleum Corporation (NNPC) on Wednesday declared that it saved over $5.48 billion in legal liabilities for Nigeria. The litigation Team of the Corporation has, based on this feat, won the Leading Case Counsel Team of the 2020 Africa Arbitration Awards. A press release by the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, states that the award was given to the NNPC Litigation Team in recognition of its stellar performance at the 8th Edition of the East African International Arbitration Conference (EAIC) which held…

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$1bn Ogoni cleanup: CISLAC demands incompetent contractors’ probe, sack

Precious Ibekwe

  The $1 billion Ogoni cleanup in Nigeria’s Niger Delta has been brought back to the front burner as Civil Society Legislative Advocacy Centre (CISLAC) has demanded the probe and sack of incompetent contractors. United Nations Environmental Protection (UNEP) Agency has earlier in a report recommended that the Ogoniland be cleanup through an investment expected to gulp about $1 bilion. Executive Director of the Centre, Auwal Ibrahim Musa also known as Rafsanjani, who made this demand at a regional capacity building for environment editors in Lagos Nigeria, alleged that the…

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17,483 PPPRA, PEF staff face sack, mass redeployment as Minister declares end to agencies’ existence

Efe Wellington

  The Nigerian Minister of  State for Petroleum Resources, Timipre Sylva, has declared an end to the existence of some agencies buoyed by the full deregulation of the country’s oil industry. Sylva made the disclosure while speaking with newsmen in Abuja, administrative capital of Nigeria. The minister specifically mentioned the Petroleum Products Pricing Regulatory Agency, ( PPPRA)  and the Petroleum Equalisation Board,  (PEF) as agencies that will no longer be in existence. The two agencies do not, according  to checks by Platforms Africa, operate a transparent system where the number…

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ExxonMobil Slates Thousands Staff for Sack, Faces $48bn Revenues’ Shorfall

Moses Ifijeh

   10 % of ExxonMobil’s staff to go as oil multi-national slips from top U.S. firms’ index first time in 92 years The United States (U.S) oil supermajor with strong footprints in Africa and across the World, ExconMobil Corporation, will sack 10 per cent of its workforce as it suffered a downgrade from top U.S. firms after 92 years. Reuters, which stated this in a report, added that the gale of mass disengagement which will blow across the U.S staff strength of the multinational, will affect thousands of staff. The…

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Nigeria’s N10.4trn fuel subsidy spending can build, equip 38 units World Class 500-bed hospitals – Checks

Damilola Olonade

The Nigerian Government has spent a whooping N10.413 trillion on fuel subsidy between 2006 and 2019, a period of 14 years, an amount less than what it required to construct and fully equip 38 units of 500-bed World Class Hospitals, checks by Platforms Africa has revealed. The country’s Minister of Information and Culture, Alhaji Lai Mohammed, who said this at a media briefing in Abuja, country’s administrative capital, maintained that the quantum of fund spent subsidising petroleum products during that period translated to an average of N743.8 billion per annum.…

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Number of Petrol Stations in Nigeria hits 33,333 – DPR’s forensic audit reveals

Efe Wellington

  Nigeria’s oil industry regulator, Department of Petroleum Resources (DPR) has concluded the forensic audit of petrol retail outlets across the country, declaring that the official number is now 33,333. The agency, which confirmed this in a statementswnt to Platforms Africa, added that it has ordered 9,000 petrol stations, being the 27 per cent of the total units uncovered through the audit across the country to immediately commence the upgrade of their facilities to allow them dispense gas to vehicles for transportation. This is in furtherance of the Federal Government’s…

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How Oil firms burnt $787.7m worth of Nigerian gas, polluted air in 7 months

Precious Ibekwe

International Oil Companies (IOCs) and their local counterparts have burnt $787.7 million worth of Nigerian gas from different oilfields in the country’s Niger Delta. Through Gas flaring in Nigeria’s oil fields, the companies burnt 225.1 billion standard cubic feet of gas, (bscf) between January and July 2020, checks by Platforms  Africa showed. The monetary value of the burnt gas in the international market is $787.7 million (about N299.33 billion). This is a surge from the data of flare given by National Environmental Economic and Development Study, NEEDS, which reads that…

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