Author Archives: steph

PENGASSAN, NUPENG to collaborate with NCDMB on local content

  The national executives of the Petroleum and the Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and their counterparts – Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) – have pledged to collaborate with the Nigerian Content Development and Monitoring Board (NCDMB) on local content development in the oil and gas industry.   […]

Oil price nears $80, Nigeria’s output rises

International oil benchmark, Brent crude, extended its gains on Wednesday, trading near a two-month high as shrinking oil inventories pointed to an increasingly tight global market.   The upturn in oil prices come as the United States’ sanctions squeezed Iranian crude exports and after the US crude oil production in 2019 was forecast to grow […]

Nigeria faces oil reserve crisis over delay of bid rounds, PIB

The delay in the award of new oil blocks and uncertainties over existing marginal oilfields are upsetting industry players, amid a warning that the country’s economic development could be jeopardised.   Nigeria is projected to witness a shortage of crude oil, as new refineries may have to compete with the sale of the product at […]

Oil workers to monitor implementation of local content law

  Oil workers under the auspices of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), and Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), have restated their readiness to monitor the implementation of local content law in the oil and gas sector. Speaking when the oil workers paid a scheduled visit to […]

NNPC, China sign MoU on oilfield services, research & dev’t

  The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) in China with the China National Offshore Oil Corporation (CNOOC) towards developing Nigeria’s oilfield services as well as boosting research and development in the oil and gas industry.   The MoU signing, the third in the series within the week, by […]

REPORT: Foreign Reserves Decline By $2.3bn In 11 Weeks

Current report as there are concerns over the steady decline of Nigeria’s foreign reserves since the last three months despite the rise in oil prices and accruals from foreign bonds issuance.   Exclusive findings by newsmen showed that the reserves recorded a huge decline from $47,787,183,153 billion where it was on June 22, 2018 to […]

NUPENG begins strike in Delta State over unionisation

  The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has accused two foreign oil firms, Sterling Energy Exploration Company (SEEPCO) and its drilling arm, British Oil and Gas Limited (BOGEL), of frustrating the legitimate demand of their workers to join the union.   NUPENG argued that five drilling oil-rigs operated by SEEPCO and […]

British, Portuguese, Turkish Envoys Laud NLNG’s Proposed Train-7 Plant

  The decision of the Nigerian Liquefied Natural Gas (NLNG) to push forward with the planned expansion of its production capacity to 30 million metric tons per annum (mtpa) has elicited some excitement from the United Kingdom, Turkey and Portugal.   The three countries indicated their excitement with the Train-7 project when their ambassadors paid […]