OPERATIONS in Nigeria’s oil and gas industry have cried out against a recent directive by the international oil companies, IOCs, compelling them to cut project costs by at least 30 per cent to cushion the effects of the slump in global oil prices. They have equally complained about recent Central Bank of Nigeria, CBN policy against the dollarisation of in-country services, as a way of strengthening the falling value of the Naira, saying that both policies are inimical to their survival.

HOST communities of power stations have been told to protect such installations against vandals so as to reap the benefits for which the projects were built. Vice President Namadi Sambo gave the charge last weekend at the commissioning of the 330/132/33kv at Oke-aro, a border line community between Lagos and Ogun states, built under the National Integrated Power Project, NIPP, of the Niger Delta Power Holding Company, NDPHC.

NiGERIA may find it difficult to finance the 2015 budget going by the impending global oil glut. At a benchmark of $65 per barrel, it will be hard to fulfill its budgetary obligations due to the dwindling revenue occasioned by the oil glut. According to the International Energy Agency, IEA, a global oil glut is building as the Organisation of the Petroleum Exporting Countries, OPEC kingpin, Saudi Arabia, pumps near record highs in an attempt to win a market share battle against stubbornly resistant U.S. shale production.

PARTICIPANT at the just concluded Offshore Technology Conference, OTC, in Houston, Texas, have expressed cautious optimism at the level of attendance by Nigerians to the conference, regarded as the biggest oil and gas event in the world. The Managing Director of Kaztec Engineering Limited, Mr. John Niezner, said that though the low oil prices may have affected the attendance, focus should be on how to reduce cost in the industry.

Kogi State government said it is making efforts towards accessing $2 million intervention funds to fight the erosion menace ravaging the state.

Cornerstone Real Estate Limited has taken its operations beyond the shores of Nigeria. The Lagos-based real estate development company said it is now in a position to buy, sell, lease or manage properties for Nigerians seeking such services in any part of the United States of America. The Chairman of the company, Mr. Lanre Okupe disclosed this last week at the investors tour of Cornerstone’s Oregun Housing Scheme located in Ikeja.

GE Oil & Gas said it has completed the first refurbishment of subsea production trees for Shell Nigeria Exploration and Production Company, SNEPCo at its service base in Onne, Rivers State. The feat, reputed as the first-of-its-kind to be done in Nigeria, highlights GE’s commitment to investing in Nigeria and demonstrating the high-value services offered to its customers.

Up to 90 per cent of the world’s electronic waste, worth nearly US $19 billion, is illegally traded or dumped each year, according to a report released last week by the United Nations Environment Programme, UNEP. Each year, the electronic industry – one of the world’s largest and fastest growing – generates up to 41 million tonnes of e-waste from goods such as computers and smart phones. Forecasts say that figure may reach 50 million tonnes already by 2017.

The Benue State Chairman of the Conference of Nigerian Political Parties, CNPP, Mr. Baba Agan has stated that Gen. Muhammadu Buhari’s administration would be anchored on the principles of rule of law, accountability and total abhorrence for corruption.

The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has said that the National Youths Service Corps, NYSC, has contributed immensely in keeping Nigeria peaceful, united and evenly developed.