Stakeholders in the gas sub-sector have disagreed with the Federal Government over the pre-qualification of 13 investors to accelerate the development of gas production facilities in the country contrary to prequalification of 15 companies as core investors in Nigeria’s Gas Master Plan.

ABUJA – The Minister of Mines and Steel, Mrs Diezani Alison-Madueke, has disclosed efforts by government to ensure increased exploration of gold and other minerals in the country in the next couple of years.

Afren has entered into a Joint Venture Agreement (JVA) with Oriental Energy Resources Limited and Energy Equity Resources (EER) for participation in the exploration, appraisal and development of OML 115 offshore South-East Nigeria, adjoining the Ebok and Okwok development area.

Aberdeen-based Containental Offshore (Containental) has strengthened its presence in West Africa following a series of contract wins in the region.

As non-Organisation of Petroleum Exporting Countries (OPEC) oil supply experienced a minor decline of 90 thousand barrels per day (tbd), and OPEC crude increased slightly, it is on record that the wake of the preliminary figures indicated that global oil supply remained steady last month from the previous month to an average of 85.57million barrels per day (mbd). Supply from most OPEC member countries remained relatively steady with Nigeria and United Arab Emirate (UAE) showing individual increases of more than 40tbd, while Venezuela and Angola crude production exhibited declines of more than 20tbd.

The Shell Petroleum Development Company of Nigeria Limited (SPDC) today agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies, adding however that the transfer was subject to government approval.

FOLLOWING insinuations from different quarters that the state owned Nigerian National Petroleum Corporation (NNPC), has been operating a covert account which is neither audited nor accessible to the government the Group Managing Director of the company Dr Mohammed Sanusi Barkindo has debunked these claims saying that the corporation’s accounts are open, current and is always made available to relevant government agencies.

Some people have argued that Nigerians are the easiest people to govern on earth. According to them, once they are provided with the basic infrastructure like electricity, motorable roads, potable water, shelter and an enabling environment in which to operate, they would go about their businesses quietly without bothering whether the leaders are stealing the country blind.

ABUJA – The Minister of Power, Dr. Lanre Babalola has reiterated Federal Government’s commitment to partnering with private investors, with a view to providing definite and sustainable solutions to the nation’s power needs.

NIGERIA Union of Petroleum and Natural Gas Workers (NUPENG), has said organised labour will continue to find it difficult to support Federal Government’s planned full deregulation of the downstream sector of the nation’s petroleum industry because among other things, the policy will add little or no value to Nigeria’s quest for self-reliance and industrialization.

SINCE the Federal Government sent the Petroleum Industry Bill (PIB) to the National Assembly for legislation into law; stakeholders have been falling over one another arguing for or against the bill. Some have even argued that there is fake PIB in circulation which they claimed intended to serve a pre-conceived interest.

LIKE its National Union of Petroleum and Natural Gas Workers (NUPENG), counterpart, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has been battling against what it calls unfair labour practices especially casualisation, contract staffing and service contracting of workers in the oil and gas industry.

Premium income accruing from oil and gas insurance has maintained its upward movement in 2008 as the industry recorded 11.5% growth at N17.4billion up from the 2007 position of almost N13 billion. Total number of insurers writing oil and gas remained 20 out of the total 42 licensed to write such businesses.

Marsh has appointed Andrew Herring as leader for the Americas of its wholesale energy practice.
As part of his role, Herring will be responsible for the division’s broking services for companies with operations in Canada, US and Latin America.

Insurance operators may continue to go in circles to get the desired attention of the government to speed up the growth of the sector except they speak in unison.