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).

Read more

NEITI CONDEMNS N1.1 TRILLION TAX WAIVERS TO OIL FIRMS

By granting Pioneer Status, the Federal Government has waived $2.1 billion (N1.1 trillion) to 22 oil companies through tax holiday as at 2014. These companies are operators in the marginal field segment of the Nigerian oil and gas industry, according to the latest report from the Nigerian Extractive Industries Transparency Initiative (NEITI).
Read more

NIGER DELTA LEADERS MEET BUHARI, DEMAND OIL BLOCS

President Muhammadu Buhari and some prominent leaders and stakeholders in the Niger Delta yesterday began to find lasting solutions to the crises in the oil-rich region. As part of the move, President Buhari hosted the leaders at the Presidential Villa where they demanded that they will be considered in the allocation and ownership of oil wells. The Niger Delta leaders specifically outlined a 16-point agenda which they presented to Buhari towards halting militancy in their area.

Read more @ The Guardian Online

RECESSION: CHEVRON, MOBIL, OTHER IOCS STYLISHLY SACK 3,000 WORKERS

The workforce in Nigeria’s oil industry has been depleted by 3,000 employees following the sack of personnel by firms in the industry, two oil unions have said. The mass sacks, it was gathered, resulted from the economic recession in the country.

Some of the companies that laid off their staff are Chevron, ExxonMobil, Pan Ocean, Sapiem, and Hercules Oil and Gas Ltd.

Read more @ the Business Dispatch

JV PRODUCTION FACES FURTHER DECLINE AMID OIL SLUMP

With the slide in global oil prices showing no sign of abating and further driving down the Federal Government’s receipts from oil sale, production from joint venture operations in the country looks set to continue its downward trend.

 

Production from joint venture companies including Shell, ExxonMobil, Chevron, Total, and Pan Ocean has over the past few years declined, partly due to funding constraints occasioned by the inability of the Nigerian National Petroleum Corporation to meet its share of cash calls.

 

Read more @ Punch Online

U.S FIRMS BATTLE NNPC, CAC OVER OWNERSHIP OF PAN OCEAN OIL

Interocean entities, comprising Interocean Oil Development Company (Nigeria) and Interocean Oil Exploration Company (Nigeria), companies incorporated under the laws of Delaware in the United States, have dragged the Nigerian National Petroleum Corporation (NNPC), Corporate Affairs Commission (CAC) and one Dr. Festus Fadeyi to both the Federal High Court in Lagos and the Court of Appeal, also in Lagos, over the ownership of Pan Ocean Oil Corporation of Nigeria (Panocean).

Read more @ Thisday