KACHIKWU CALLS FOR DIALOGUE WITH NIGER DELTA MILITANTS

Contrary to application of brutal force against militants in the Niger Delta region, the federal government has been advised to engage the vandals who have been attacking oil installations in the region in dialogue.

 

Making the call yesterday during an interactive session with a coalition of civil society groups held in Lagos, the junior petroleum minister, Ibe Kackikwu, said government should use such opportunity to speak to the militants on why their actions are inimical to the oil rich region.

 

Read more @ Thisdaylive

NIGERIA LNG REVENUES THREATENED AS ASIAN PRICES COLLAPSE

Nigeria’s ability to cushion the fiscal blow from lower oil prices through higher gas earnings is being threatened as Asian LNG prices collapse. Nigeria LNG Ltd. (NLNG), Africa’s largest liquefied natural gas export terminal, had increasingly turned to Asian markets to sell its products due to lower European spot prices and surging output by United States shale producers.

Read more @ Businessday Online

168,000 FISHERMEN AFFECTED BY 2011 BONGA SPILL – MONARCH

No fewer than 168,000 fishermen in 350 communities of Bayelsa and Delta states were affected by the 2011 Bonga oil spills. In 2011, an oil spill from Bonga offshore, operated by Shell Nigeria Production and Exploration Company, left the communities devastated.

 

The Paramount Ruler of Olobia community in Koluama, Southern Ijaw Local Government Area of Bayelsa State, Chief Howells Levi, said in an interview on Monday in Yenagoa that fishermen were mostly impacted by the spills.

 

Read more @ Punch Online

US GLUT MAY FORCE CRUDE PRICE TO $20

Strong indications emerged on Wednesday that current glut in the United States’ oil market might further dampen the prices of crude oil and refined petroleum products as this could push down the crude to as low as $20 per barrel.

 

The Associated Press reported that the US was running out of storage for crude oil and that the country could begin to sell from its reserves if there were changes to the law limiting the sale of the product by the country.

 

Read more @ Punch Online