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NUPENG, PENGASSAN begins indefinite nationwide strike Monday

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Nigeria’s expatriate oil workers highest paid in Africa

…..Halts upstream, midstream, downstream ‎operations
 
By Kunle Kalejaye
Oil workers under the aegis of Nigeria Union of Petroleum and Natural Gas Workers, NUPENG and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN have concluded plans to embarked on an indefinite nationwide strike on Monday 15th December‎, 2014.
The strike according NUPENG and PENGASSAN is to protest government inability to carried out turn around maintenance of the country’s refineries and reduce pump prices of petroleum products in line with the slump in global prices of crude oil.
The industrial action sequel federal government failure to show any sign of meaningful resolution or commitment to resolve oil workers concern within the 14-days ultimatum given to them.
The unions said that all members have been fully mobilised to embark on the strike adding that the protest will not be suspended until there is a strong commitment from the government and affected management/operators to resolve the issues.
 
In a statement made available by the unions, the strike will affect all operations in the upstream, midstream and downstream sectors of the oil and gas industry, as members will be withdrawn from all oil and gas installations.
 
Union leaders in the oil and gas industry hopes that the strike will also ensure that government evolve new strategies to combat pipeline vandalism and crude oil theft that have impacted negatively on the nation’s economy and employment.
Other reasons for the strike by NUPENG and PENGASSAN include delay in the passage of the Petroleum Industry Bill (PIB), global crude oil prices slump, non -implementation of the Nigeria Oil and Gas Industry Content Development (NOGICD)Act to reflect Nigerians in management positions and expatriate quota law, appalling state of access roads to refineries and oil depots’ facilities, insecurity all over the country that has led to the death of their members, appointments in government agencies in disregards to succession planning, compulsory deduction from  workers’ salaries for the National Housing Fund (NHF), casualization and contract staffing and unfair labour practice by companies and government agencies.
 
The unfair labour practices listed by the oil workers  include transfer and termination of  national officers of the two unions.
According to NUPENG and PENGASSAN, the government has refused to honour all engagements and agreements reached with them on all their issues of concerns including the turn around maintenance of the refineries and ensuring adequate supply of crude oil to the refineries to ensure that they functional effectively and efficiently.
 
 The unions also demand that the government should put in place alternative strategies to stop pipeline vandalism and crude oil theft, convene an industry stakeholders’ forum on PIB status and falling crude oil prices and address the ongoing high rate divestment  in the industry and its attendant job losses.
 
On casualization and contract staffing, NUPENG and PENGASSAN demand immediate conversion of all contract staff to regular staff in accordance with the approved Contract, Casual and Outsourcing in the Oil and Industry Guidelines.

Oil

FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.

The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.

The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.

The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.

This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.

These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.

The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.

 

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Business

Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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By Yemie Adeoye

NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.

The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”

The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.

“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.

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Oil

ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations

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As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.

Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”

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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.

Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.

We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.

“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.

On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.

 

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