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July, 2016

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IPMAN Moves to Ease Kerosene, Diesel Scarcity

keroThe Independent Petroleum Marketers Association of Nigeria (IPMAN) is partnering with some major stakeholders in the oil industry to import kerosene and diesel into the country to ease the suffering of Nigerians.

Its National President, Chinedu Okonkwo told newsmen in Lagos yesterday that the association had obtained license to import kerosene and diesel into the country while it has engaged foreign partners to finance imports.

“We hope this will create value in the industry by ensuring that there is enough kerosene and diesel in all our members’ stations at affordable prices,” he said.

Okoronkwo said that owing to the liberalisation of the sale of products, the association has planned to import its own products for onward distribution to its members.

Source: Allafrica.com

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Shell Appoints Babs Omotowa as Vice President at The Hague

babsShell International has announced the appointment of the outgoing managing director of the Nigerian Liquefied Natural Gas Company (NLNG), Babs Omotowa into the Global Upstream Leadership Team as Vice President (S&E)

According to NLNG, Omotowa joined the firm with a well-deserved reputation as a turnaround expert from his previous work in Europe, focused on improving the company’s operations through cost leadership management, assets rejuvenation, organisation culture alignment, change management, commercial creativity, Read More

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Amaechi Unveils NPA Intelligence System For Tracking Ships

amaechiThe minister of transport, Mr Rotimi Amaechi has commissioned the Command, Control, Communication and Intelligence System (CCCIS) of the Nigerian Ports Authority (NPA), a system that identifies, obtains vessels information and track ships movement on the Nigerian coast, Leadership reports.

The CCCIS covers the four pilotage of the NPA, namely, the Lagos Port District, the Bonny and Port Harcourt Read More

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Oil Price Hits Lowest Since April at $44.65/Barrel

nigeriancrudeOil prices dropped on July 25, with U.S. crude plunging to a 3-month low on rising concerns that a global glut of crude and refined products would put markets under intense pressure.

Brent crude futures were trading at $44.65 a barrel by 4:25 p.m. ET, down $1.04 cents or 2.28 percent from their previous close. The contract fell to an intraday low of $44.55, a low going back to May 10. Read More

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Nigeria’s Gas Flaring Drops To 20%

Gas flaringThe Managing Director of Nigeria Liquefied Natural Gas (NLNG), Mr. Babs Omotowa, has stated that the gas flaring, which was previously at 65 per cent, putting the nation on the league of top five gas flaring countries in the world, has reduced to 20 per cent.

Omotowa, who disclosed this in Ilorin at the weekend during the commissioning of NLNG/University of Ilorin Engineering Research Centre, said that through NLNG’s efforts, Nigeria was no longer on the league of top five gas flaring countries in the world.

He said: “One of the reasons why Nigerian Liquefied Natural Gas was established was to reduce gas flaring in the country. When we started Nigeria was flaring about 65 percent Read More

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Low Prices Threaten $20b Local Oil, Gas Investments

$20More than $20 billion local investments in the oil and gas sector are under threat as a result of low oil prices. Following the situation, the relevant House of Representatives committee is planning to extend the implementation of the Nigerian content policy to the country’s manufacturing, telecommunication, aviation and construction sectors.

The Guardian gathered that before the fall in price of crude oil (when it was about $110 per barrel), indigenous firms purchased over $10 billion worth of divested assets from International Oil Companies (IOCs), largely financed by bank loans. The financial projections underpinning the loans have long been invalidated, and many indigenous companies struggle to service their debts. Consequently, oil revenues and profits have contracted sharply Read More

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Port Harcourt Disco Says It Is Losing N238bn Monthly To Electricity Theft

phedcThe Port Harcourt Electricity Distribution Company (PHED) has said that it loses over seven million kilowatt-hours, an equivalent of over N238bn, to direct electricity theft a month.

The Head, Revenue Protection Department, PHED, Mr. Nsika Udi during a consumers’ forum said that the direct tapping of energy, besides meter bypassing, illegal connection, and fraud in billing, accounted for 80% of power theft. He added that Read More

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8 Questions You Should Ask Your Interviewer

Recruiters usually have several candidates for every job, scaling through the interview process, will not only require dressing right, preparing a great CV and nailing the interview Read More

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