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Under-utilization of LADOL free zone threatens NCDMB’s local content targets

Aug 26, 2019

Since the completion of the integration work on the Floating Production Storage Offloading (FPSO) vessel and sail-away of the facility to the deep offshore Egina oil field, the entire LADOL free zone is currently underutilised. This underutilisation not only threatens Nigerian jobs but also threatens local content provision and the commitment of the Nigeria Content…

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High Court orders FG to renew Shell’s lease on OML 11

Aug 26, 2019

The Federal High Court in Abuja on Friday ordered the Minister of Petroleum Resources, President Muhammadu Buhari, to grant the renewal of the Oil Mineral Lease 11 to Shell Petroleum Development of Nigeria without the reduction in the size of its field coverage. Justice Taiwo Taiwo, in his judgment delivered on Shell’s suit, however, ruled…

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ERA/FoEN warns agains implementation of Rosatom/Nigeria nuclear deal

Aug 25, 2019

The Environmental Rights Action/Friends of the Earth (ERA/FoEN) Nigeria has warned against Nigeria’s decision to build nuclear power plants to augment the poor power situation in the country. According to Head, Media & Campaigns, Philip Jakpor, the decision will result in mishaps similar to the Arkhangelsk region explosion in Russia last week which led to…

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Oil companies begin compliance with FG’s directive on stevedoring contractors

Aug 25, 2019

AS part of measures aimed at resolving the long-standing feud between the International Oil Companies, IOCs, and dockworkers, the oil firms have commenced registration and engagement of the dockworker’s contractors. This is also in line with directives of the Federal Government to the IOCs to engage government-appointed stevedores. Confirming the development, the President-General of the…

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NCDMB seeks review of Act to expand local content to other sectors

Aug 24, 2019

Nigerian Content Development and Monitoring Board (NCDMB), may approach the National Assembly in the coming weeks, to seek review of the Local Content Act 2010, to include other sectors of the nation’s economy, especially power, construction and information and communications technology (ICT). Considering the current level of losses to foreign companies across sectors of the…

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Nigerian Govt, States, LGs owe NNPC N797bn – NEITI

Aug 24, 2019

The federal, state and local governments owe the Nigerian National Petroleum Corporation (NNPC) N797bn, a 136-page report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. The indebtedness, Daily Trust, reports may not be unconnected with the expenses incurred as subsidy (on fuel importation) in the period under review but which was not paid…

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NNPC failed to remit N77.92bn in 2017 – NEITI

Aug 23, 2019

The Nigerian Extractive Industries Transparency Initiative (NEITI) on Thursday accused the Nigerian National Petroleum Corporation (NNPC) of under-remitting N77.92billion to the Federation Account in 2017. The report which is pilot study on the sale of crude oil, however, noted that there is an ongoing reconciliation of the amount that arose from KPMG Forensic audit. In…

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Ninth N’Assembly to conclude PIB – NNPC

Aug 23, 2019

Nigerian National Petroleum Corporation (NNPC) has said the Petroleum Industry Bill (PIB) which has been with the National Assembly for years would complete its enactment process in the present Ninth Assembly. This is even as the power generation companies (GenCos) faulted the plan by the federal government and Siemens AG to raise the country’s power…

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Expatriates in Nigeria’s oil & gas sector reduced by 80% – NCDMB

Aug 22, 2019

The Executive Secretary, Nigerian Content Development and Monitoring Board, Mr Simbi Wabote, says that the number of expatriates working in the Nigerian oil and gas sector has been reduced by 80 per cent. Wabote disclosed this on Monday in Abuja at the NCDMB’s third-quarter engagement with the media, which focused on the major achievements of…

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Shell JV, SNEPCo have paid $2bn to NDDC – Rep

Aug 22, 2019

The Shell Petroleum Development Company (SPDC) Joint Venture, Shell Nigeria Exploration and Production Company (SNEPCo) and its co-venture partners have contributed $2 billion to the Niger Delta Development Commission (NDDC). The Media Relations Manager, Shell Nigeria, Bamidele Odugbesan, stated this while reacting to the allegation that the oil giant was among the 50 oil firms…

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