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Nigeria oil governance bill aims to break up state oil company NNPC

Nigeria oil governance bill aims to break up state oil company NNPC

May 26 The long-awaited oil governance bill passed by Nigeria’s upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by a regulatory body and a fund to oversee the distribution of money. The Petroleum Industry Governance Bill, passed on Thursday by the Senate, is part of planned reforms… READ MORE

Nigerian economy in decline for more than a year

Nigerian economy in decline for more than a year

Lagos – Nigeria’s economy continued its slump and contracted for a fifth consecutive quarter in the three months to March after the oil industry shrank and agricultural expansion slowed. Gross domestic product (GDP) in Africa’s most-populous nation shrank 0.5 percent in the first quarter from a year earlier, compared with a revised 1.7 percent contraction… READ MORE

BPE Oblivious of Agip/Oando Planned Concession of P’Harcourt Refinery

BPE Oblivious of Agip/Oando Planned Concession of P’Harcourt Refinery

The Bureau of Public Enterprises (BPE) is ignorant of the proposed rehabilitation and operation under a concession arrangement of the 210,000 barrels per day (bpd) Port Harcourt Refinery by oil firms – Nigeria Agip Oil Company (NAOC) and Oando Plc, THISDAY yesterday learnt from top sources in the privatization agency. It learnt in Abuja that… READ MORE

Oando unfriendly to workers – NUPENG condemns MoU with FG

Oando unfriendly to workers – NUPENG condemns MoU with FG

Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has opposed the recent Memorandum of Understanding, MOU, entered into by the Federal Government and Oando Plc to manage Port Harcourt Refinery under repair, operate and maintain, ROM arrangement, saying the company is unfriendly to workers. In a statement yesterday, General Secretary, Joseph Ogbebor, described the… READ MORE

Nigeria’s Q1 refinery output boosted by Niger Delta peace -NNPC

Nigeria’s Q1 refinery output boosted by Niger Delta peace -NNPC

YENAGOA, Nigeria May 17 (Reuters) – Nigeria’s refineries processed 10 million barrels of crude oil in the first quarter, more than they did for the whole of 2015, after talks with militants reduced attacks on facilities, the head of the Nigerian National Petroleum Corporation (NNPC) said. OPEC member Nigeria has a refining capacity of 445,000… READ MORE