September 12, 2022                                                       
 ISSUE 239


As Oil Workers Brace for Nationwide Strike over Theft, Vandalism
By: Guardian Newspaper

Last week, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) aroused the consciousness of the government and Nigerian people over the devastating effects of oil theft on the economy, warning that the nation may soon witness a crippling nationwide strike of oil workers amid the complaints that some oil firms are shutting down operations because of oil theft and pipeline vandalism.

The oil workers’ union, which staged rallies in Abuja, Kaduna, Lagos and Warri on Thursday, noted that apart from the fact that Nigeria can no longer meet its Organisation of Petroleum Exporting Countries (OPEC) quota, some oil companies are losing between 40,000 and 50,000 barrels per day and they have begun to exit Nigeria because they can no longer pay salaries of their workers.

PENGASSAN’s National President, Festus Osifo, who captured the frightening development said: “Today, the country is near comatose, it is almost on its knees because of oil theft.



Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo

‘Navy operation prevented over N30 billion oil theft in five months’
By: Ships & Ports

The Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo has said the operation “Dakatar Da Barawo,” which was launched five months ago has prevented the diversion of over N30 billion crude oil by individuals, that could be used to support criminals.

Gambo stated this today in a television interview focusing on maritime security challenges in the country.

The CNS, who gave a review of the Nigerian Navy operation in the last five months, revealed that over 216 illegal refining sites with about 3, 000 metal storage tanks and over 150 massive wooden boats were destroyed during the period under review.

He also stated that oil thieves were denied over 40 million litres, which is about 270, 000 barrels of crude oil and a little below 20 million litres of illegally refined AGO.



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Nigerian fleet implementation committee presents report to Transport Minister
By: Ships & Ports

The Minister of Transportation, Mu’azu Jaji Sambo, has received an interim report on the need to establish a national fleet.

“Nigeria is a maritime country and if Nigeria gets its acts together, the country will have no business looking for money from the oil sector as contribution to the GDP of the country,” Sambo said after receiving the report from the Nigerian Fleet Implementation Committee.

“I don’t know whether in the course of the committee’s consultations with other stakeholders, you were able to have some conversations with the Nigerian National Petroleum Corporation (NNPC) because if NNPC can give 100 % support, this matter can be closed in two months.” 

Earlier, the Executive Secretary, Nigerian Shippers’ Council and Chairman of the committee, Emmanuel Jime, said the committee was set up to implement the recommendations in the report by an earlier ministerial committee on modalities for establishment of the national fleet.


Report: Nigeria’s $15.7bn 2022 Fuel Subsidy Projection to Exceed All 36 States’ Budget
By: Business Day Newspaper

With Nigeria’s petrol subsidy bill skyrocketing in 2022, the estimates for the whole year would exceed the total expenditure by all the states of the federation in 2021, which was $9.8 billion, a new report by a member of President Muhammadu Buhari’s Economic Advisory Council and Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has indicated.

The report came as the Nigerian National Petroleum Company Limited (NNPCL) yesterday maintained that crude oil theft was taking a severe toll on its performance. NNPCL disclosed that it lost 470,000 barrels of crude oil per day, which amounted to about $700 million monthly, saying this is in addition to security challenges that hinder oil production in some terminals.

Group General Manager, National Petroleum Investment Management Services (NAPMS), Bala Wunti, made the revelation during an interview with journalists in Abuja.



EU Proposes Capping The Price Of Russian Gas
By: Marine & Petroleum

The European Union’s executive body has proposed capping the price of Russian gas.

Energy prices have soared in the wake of Russia’s invasion of Ukraine, forcing the EU’s 27 states into action.

“We must cut Russia’s revenues which Putin uses to finance this atrocious war,” said European Commission chief Ursula von der Leyen.

But Mr. Putin said Moscow would react to a cap by halting supplies completely.

“We will not supply gas, oil, coal, heating oil – we will not supply anything,” he said if it went against Russia’s interests.

European leaders have accused Moscow of “weaponising” its gas exports in response to Western sanctions on Russian individuals and businesses.


Greenpeace activists block Russian LNG tanker at Swedish port
By: Ships & Ports

Greenpeace activists on Thursday blocked the LNG tanker Coral Energy from unloading Russian natural gas at a Finnish state-owned terminal, Gasum, in Nynashamn on Sweden’s east coast. The environmental campaigning network called on the Swedish government to immediately stop the import of Russian LNG.

Activists from Greenpeace Nordic stopped the ship Coral Energy from unloading its cargo of Russian fossil gas at an LNG terminal in Nynäshamn, south of Stockholm, Sweden. Climbers have occupied the cranes that unload the gas from the ship. Greenpeace sailing vessel SY Witness and activists in kayaks worked to prevent the ship from docking. Greenpeace Nordic demanded that the Swedish government immediately stops importing Russian fossil gas.

“The fact that Russian fossil gas is still allowed to flow into Sweden, more than six months after Putin began his invasion of Ukraine, is unacceptable,” said Karolina Carlsson, campaign leader at Greenpeace Nordic. “Parliament has given the Swedish government a clear mandate to stop all imports of Russian energy to Sweden. Prime minister Magdalena Andersson is obligated to act on this.”


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