'Declare State of Emergency in Oil Sector Now'

Federal Government has been called upon to declare state of emergency in the oil and gas sectors for the benefit of the country.

The National President, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade F.O Johnson, made the call while chatting with Daily Trust during public presentation and lunching of the book ,"Reciter's Guide" in National Mosque, in Abuja, yesterday.

Nigeria Earns N3.6 Trillion From Oil in 11 Months

Nigeria earned about N3.549 trillion from the oil and gas sector in eleven months, between January and November 2015, according to data obtained from the Central Bank of Nigeria, CBN.

In an analysis of receipts in the Federation Account, the CBN, in its Monthly Economic for November 2015, said oil revenue accounted for 54.73

Oil Price Stability High On Agenda As Buhari Visits Saudi Arabia, Qatar

President Muhammadu Buhari will begin a week-long official visit to Saudi Arabia and Qatar on Feb. 22, a statement issued by his Special Adviser on Media and Publicity, Mr Femi Adesina, said on Sunday in Abuja.

The statement also said that the President would first fly to Riyadyh for talks on Tuesday with King Salman Bin Abdulaziz Al Saud and senior officials of the Kingdom of Saudi Arabia.

NNPC Cautions Public Against Any Invitation for Recruitment

The Nigerian National Petroleum Corporation (NNPC) has warned the public to disregard any invitation on recruitment exercise.

The warning is contained in a statement issued by Mr Ohi Alegbe, the Group General Manager, Group Public Affairs Division, on Sunday in Abuja.

Nigeria: Nepc Targets U.S.$30 Billion Earning From Non-Oil Export   

 

NIGERIAN Export Promotion Council (NEPC) has put in place some plans that will help increase the country's earnings on non-oil export to $30billion from the $2.7billion it currently stands even as the Council and the Ministry of Agriculture have evolve ways to transform the nation's economy.

Speaking in his office yesterday when he received the Executive Director/Chief Executive Officer of Nigerian Export Promotion Council Mr Olusegun Awolowo who was on a courtesy visit to Minister of Agriculture,Chief Audu Ogbe in Abuja, he said:

Nigeria: Escravos Attack - Nigerian Govt. Losing N471 Million Daily in Gas, Electricity Disruptions

The Nigerian government on Tuesday counted its costs in terms of multiple losses suffered in massive disruption to gas and electricity supplies in the wake of last weekend's attacks on the Nigerian Gas Company's gas pipeline by suspected Niger Delta militants.

Government said the attack on the Escravos Lagos Pipeline System (ELPS) connected to Chevron Nigeria Limited's gas network at Escravos negatively impacted on the 600 mega watts (MW) Olorunsogo National Integrated Power Plant and other critical power projects in the region.

The immediate impact of the sabotage on the gas facility, Federal Ministry of Power sources said, has been the disruption in the sale and supply of 160

Nigeria Rules Out Cutting Oil Production in Isolation of OPEC

Nigeria said Wednesday it would not cut oil production outside the framework of the Organisation of Petroleum Exporting Countries (OPEC), even as nose diving crude prices caused by a global supply glut have ravaged its revenue.

US crude oil prices fell below $30 a barrel on Tuesday, prompting Nigeria, an OPEC member country, to call for an emergency meeting to address collapsing prices that have drained the coffers of Africa's largest economy.

Minister of State for Petroleum, Dr. Ibe Kachikwu, said in Abu Dhabi on Tuesday that he expected an extraordinary meeting of the global oil cartel in "early March" to discuss the continued plunge in prices.