Oil & Gas News Highlights!

[hispy99]

Uncertainty surrounds Reps' report on Lawan, Otedola - The Punch - Nigeria's Most Widely Read Newspaper

[hispy99]

Task force report reveals rot in downstream sector | BusinessDay

[hispy99]

KPMG says over $200bn worth of investments untapped in oil sector | BusinessDay

[hispy99]

Fuel Subsidy - 197 Transactions Worth N232bn Not Legitimate

[hispy99]

Fuel Subsidy - SFU Seeks Prosecution of Two Firms

[hispy99]

Total sells Nigeria offshore oil stake for $2.5B - Businessweek

[nosa2]

Originally Posted by hispy99

Total sells Nigeria offshore oil stake for $2.5B - Businessweek

Selling off oil assets in a period of record high oil prices is a very smart move, these Chinese are about to be taught a very harsh lesson in capitalism.

[hispy99]

Alison-Madueke: FG Considers Review of PIB Fiscal Terms, Articles | THISDAY LIVE

[Picolena66]

* Nigeria: Military Not Involved in Oil Theft, Says Naval Chief *
The Chief of the Naval Staff, Vice Admiral Dele Ezeoba, has said
officers and men of the armed forces were not involved in oil theft in
the Niger Delta region.
allAfrica.com: Nigeria: Military Not Involved in Oil Theft, Says Naval Chief

[hispy99]

Fuel scarcity: NNPC completes System 2B pipeline repair - The Punch - Nigeria's Most Widely Read Newspaper

[Babs_O]

Originally Posted by nosa2

Selling off oil assets in a period of record high oil prices is a very smart move, these Chinese are about to be taught a very harsh lesson in capitalism.

Don't think so. The Chinese are securing long term sources of supply of crude oil directly and indirectly. There is a lot of debate if oil prices will go up or down in years to come. The pre-dominant view is demand will continue rising world wide that even countries like Saudi may switch to be come net importers when their young population become older and start consuming petrol. The Chinese are planning for a good future no matter what energy scenario plays out. It's Nija which you should be worried about.

[goldsun]

Originally Posted by Babs_O

Don't think so. The Chinese are securing long term sources of supply of crude oil directly and indirectly. There is a lot of debate if oil prices will go up or down in years to come. The pre-dominant view is demand will continue rising world wide that even countries like Saudi may switch to be come net importers when their young population become older and start consuming petrol. The Chinese are planning for a good future no matter what energy scenario plays out. It's Nija which you should be worried about.

why

[netotse]

Originally Posted by goldsun

why

Imagine a scenario where we had to continue importing fuel without crude oil as a source of foreign exchange...wetin we wan use pay for the fuel?

[Picolena66]

Nigeria: Fighting to Stop Billion-Dollar Oil Theft *
Crude oil theft is a major problem in Nigeria, Africa's largest oil
exporter. A report just released by the International Energy Agency
says Nigeria loses more than five billion euros to oil theft annually.
allAfrica.com: Nigeria Struggles to Stop Billion-Dollar Oil Theft

[Babs_O]

Originally Posted by netotse

Imagine a scenario where we had to continue importing fuel without crude oil as a source of foreign exchange...wetin we wan use pay for the fuel?

Our population is rising also. Not good to be imagined but averted. Some are averting it by seeking other nationalities. But better to have visionary leaders enabled to take the reigns in Nija.

[nosa2]

Originally Posted by Babs_O

Our population is rising also. Not good to be imagined but averted. Some are averting it by seeking other nationalities. But better to have visionary leaders enabled to take the reigns in Nija.

The government needs to cripple labour legislatively cause until that happens we won't be able to undertake painful but necessary reforms.

[Babs_O]

Originally Posted by nosa2

The government needs to cripple labour legislatively cause until that happens we won't be able to undertake painful but necessary reforms.

And who will cripple corruption in government as well as the private sector. I see this corruption as the bigger problem and why labour does not see eye to eye with government on freeing petrol price to market forces. Once petrol prices are freed the goodies will still evade the masses just like the crude oil income over the years has not had long lasting impact due to corruption in high and low places.

[nosa2]

Originally Posted by Babs_O

And who will cripple corruption in government as well as the private sector. I see this corruption as the bigger problem and why labour does not see eye to eye with government on freeing petrol price to market forces. Once petrol prices are freed the goodies will still evade the masses just like the crude oil income over the years has not had long lasting impact due to corruption in high and low places.

Who is labour? Is it not the civil service? Who is corrupt in govt? Is it not the civil service? I just laugh when people say NLC is protesting for the masses or that they're fighting corruption. These guys are the problem we have, they demand salary increase despite virtually no capital vote, do they care about that… No, GEJ tried to highlight this in the last media chat so at least I'm glad he's aware of the issue.

[hispy99]

Unpaid subsidy: Diezani, NNPC report Okonjo-Iweala to Jonathan - The Punch - Nigeria's Most Widely Read Newspaper

[hispy99]

Fuel scarcity: Jobless graduates take over black market - The Punch - Nigeria's Most Widely Read Newspaper