Monthly Archives: January 2016

OPEC daily basket price stood at $25.58/b on Monday 25 January

The price of OPEC basket of thirteen crudes stood at $25.58 a barrel on Monday, compared with $25.50 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra…
Read more

NUPENG asks FG to prevent Chevron, Shell from sacking workers

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), yesterday called on the Federal Government to stop Chevron and Shell Petroleum Development Company (SPDC), from extending the planned sack of 18,500 workers globally to Nigeria, Vanguard reports. NUPENG in a statement by its President, Mr. Igwe Achese, insisted that the union was worried and…
Read more

IPMAN Signs Pact With Danium Energy For Oron Facility

The national body of Independent Petroleum Marketers Association of Nigeria has signed a pact with Danium Energy to cater for consumers need in South-South, South-East and North-East for Oron facility in Akwa Ibom State. The business deal was signed by the President of IPMAN, Elder Chinedu Okoronkwo, his excos, the Managing Director of Danium Energy,…
Read more

Oil Cos paid N1.8bn in fines for gas flaring between Jan-Sept 2015

According to data from the Central Bank of Nigeria (CBN), oil and gas companies operating in Nigeria were fined N1.81 billion in nine months, between January and September 2015, for flouting Federal Government’s directives on gas flaring, Vanguard reports. The CBN in its Third Quarter Statistical Bulletin revealed that in the first quarter of 2015, oil…
Read more