NCDMB TASKS OIL FIRMS ON MOTIVATION

THE Nigerian Content Development and Monitoring Board (NCDMB) has charged indigenous oil service companies to explore creative strategies for the motivation of their staff for their easy retention.

Speaking at the long-term service award held recently in Warri, Delta State by Wellmann Group, an indigenous oil servicing firm, which specialises in heavy lifting and marine transportation, the Executive Secretary of NCDMB, Ernest Nwapa said it is only when staffers are well motivated that their loyalty can be retained.

Read more @ The Guardian

PANDEMONIUM, AS WORKERS ISSUE 21-DAY ULTIMATUM TO CHEVRON

There was pandemonium, weekend, at the Chevron Escravos Terminal in Delta State, as the Escravos branch of the Seamen and Water Transport Workers Union, one of the wings of the Maritime Workers Union of Nigeria, clashed with the management of Chevron Nigeria Ltd, during which the union gave a 21 day ultimatum to the company to fix an employment impasse involving it and the company or face a forceful shut down of its operations in the area.

Read more @ Vanguard

INSECURITY THREATENING OIL PRODUCTION, SAYS MINISTER

The Federal Government on Monday admitted that the lingering security challenges in the country is threatening the nation’s leading position in oil production and exports.

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke at the International Health Safety and Environment Biennial Conference in Lagos Monday, bemoaned the spate of vandalism and oil theft that have become a cankerworm to the growth of the industry.

Read more @ The Guardian

NIGERIA LOSES $800M ANNUALLY TO GAS FLARING’

The British Government has said that Nigeria loses $800 million worth of gas every year through gas flaring.

To this end, the Minister of Environment, Laurentia Mallam, said that President Goodluck was keen on ending gas flaring in Nigeria as part of the determination to improve the economy of the country through improvement in power generating capacity of the energy sector.

Read more @ Nigerian Tribune

OIL PRICE DROPS FURTHER TO $70 PER BARREL

Barely three days after members of the Organisation of Petroleum Exporting Countries, OPEC resisted pressures to cut output; the price of crude oil has dropped from about $75 to $70 per a barrel at the global market.

The latest price level recorded yesterday showed about three dollars below the $73 per barrel reference price which the Federal Government 2015 budget was based.

Read more @ National Mirror

FG CONSIDERS FUEL SUBSIDY REMOVAL IN JUNE 2015

The Federal Government has scheduled June 2015 for outright end of subsidy on Premium Motor Spirit (PMS) also known as petrol.

A source at the Presidency said that this agenda, which he called Plan A, is to ensure that the action does not affect the 2015 elections, which are scheduled for February 2015.

Read more @ New Telegraph

FLARED GAS CAN GENERATE 40% OF ELECTRICITY NEEDS

The volume of gas flared in Nigeria can provide 40 per cent of the country’s total electricity requirement based on the current needs assessment, the Minister of Environment, Mrs. Laurentia Mallam, has said.

She specifically stated that the flared gas to power potential was estimated at 27,612 gigawatts hour, describing it as “enormous.

Read more @ The Punch