FG, STATES, IOCS TO ADOPT COLLABORATIVE APPROACH FOR DEVT OF N’DELTA

In furtherance of efforts to entrench peace in the Niger Delta, the federal government, international oil companies (IOCs) and other stakeholders have kicked off a collaborative approach aimed at maximising resources for the sustainable development of the region.

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TOTAL NIGERIA LAUNCHES TRUCK RENEWAL SCHEME

Total Nigeria unveiled new fleet of trucks in Lagos to launch its truck renewal scheme. The robust fleet acquisition scheme is targeted at renewing 20 percent of Total Nigeria’s fleet of trucks in 2017 in order to ensure a continuation of its sustainable business model.

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COURT REPRIMANDS FG FOR POOR HANDLING OF CASES AGAINST IOCS

Justice Mojisola Olatoregun of the Federal High Court in Lagos yesterday reprimanded the federal government for not diligently prosecuting its case against Shell and other oil companies. At the resumed hearing of the case yesterday, counsel to the plaintiff, Mr. Charles Nwabulu, informed the court of his application for amendment of his pleadings.

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SHELL, NNPC, OTHERS SURGE NIGERIA’S CRUDE PRODUCTION ABOVE 1.8M BARRELS DAILY

Nigeria’s crude oil output from contracts and ventures between international oil companies (IOCs) such as Shell and the Nigerian National Petroleum Corporation (NNPC) has surged above 1.8 million barrels per day (bpd), owing to the relative peace in the oil rich Niger Delta.

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NLC CHIEF WARNS FOREIGN OIL FIRMS AGAINST DISRESPECT OF LABOUR LAWS

Leading labour leader, Issa Aremu has urged international oil companies (IOCs) operating in Nigeria to ensure decent work conditions for their workers in tune with the nation’s laws. Aremu was speaking yesterday against the backdrop of the recent three-day warning strike called by the National Union of Petroleum and Natural Gas Workers (NUPENG), Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Nigeria National Petroleum Corporation (NNPC).

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FG TO ALLOW OIL FIRMS BORROW TO FUND JV OPERATIONS

Nigeria’s government will permit the mainly international oil companies with whom it has joint venture arrangements to borrow from the market to fund their operations, as a way of resolving the perennial cash call challenge which has held down oil production in the country.

Read more @ Businessday Online

FPSO fabrication facility to start operations in gulf of Guinea

In a significant development for international oil companies (IOCs) operating in the Gulf of Guinea, large scale and complex steel fabrication will now be offered in Nigeria from a new purpose-built facility.

Read more @ Businessday Online

INSECURITY, OFFSHORE ATTRACTION CAUSE IOCS DIVESTMENTS

The sale of onshore assets by International Oil Companies operating in Nigeria, including Shell and Chevron, has been largely triggered by security risk and the increasing shift by the oil majors towards the offshore region, industry experts have said.

 

The growing onshore risks have over the last few years prompted a number of IOCs to expand their footprint on the offshore region, where lies huge untapped potential with less risks.

 

Read more @ Punch Online