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Petrol scarcity imminent as PENGASSAN, NUPENG plans shut down of oil installations accross Nigeria

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Oil Workers Threaten Strike
By Kunle Kalejaye
 
Oil workers under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have concluded plans to shut down all oil and gas installations in the country due to the anti-labour activities of some employers in the sector.
Some of the anti-labour activities listed by the oil workers include delay in passage of the Petroleum Industry Bill (PIB), unjust termination of appointment of the Port Harcourt Zonal Secretary of the Association by Total Exploration and Production (Total E&P) Nigeria Limited, retardation of staff promotion in the Petroleum Technology Development Fund (PTDF), non-standardisation of nomenclature and collective bargaining agreement of the Nigerian Nuclear Regulatory Agency (NNRA), in line with what obtains in other agencies in the oil and gas industry, refusal of the Management of Addax/Petrostuff Nigeria Limited and Chevron/Sudelletra to recall sacked staff.
Other issues are the perilous state of the nation’s strategic and industrial roads and highways, non-beneficial deductions of National Housing Fund (NHF) from our workers, un-abating measures of addressing pipeline vandalism and crude oil theft, and divestments by International Oil Companies (IOCs) without clear guidelines to check the resultant arbitrary job losses, heightening insecurity of our members/families in the troubled parts of Northern Nigeria.
According to a statement issued by PENGASSAN Secretariat, plans are at the final stage with its sister union, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), to mobilise members for a nationwide industrial actions that will disrupts operations in the oil and gas sector until the Federal Government show genuine intention to earnestly attend and resolve the enumerated issues at stake.
PENGASSAN noted that the 14-day ultimatum given by its National Executive Council (NEC) meeting of 30th October 2014 to the Federal Government and other concerned employers’ and agencies and further ratified by the Joint NEC of both NUPENG and PENGASSAN on October 31st, 2014, had since expired without any meaningful resolution or commitment from either the government or the concerned employers’ and agencies at resolving the issues.
The statement hinted that all levels of the Union have been fully sensitized and mobilised for the inevitable industrial actions that will affect every value chain in the upstream, midstream and downstream of the oil and gas industry.
The union explained that the purported termination of the appointment of its Port Harcourt Zonal Secretary was an ill-conceived act of victimization by Total E&P Nigeria Limited which the NNPC, Federal Ministries of Petroleum Resources and Labour and Productivity, the Department of Security Services (DSS), Department of Petroleum Resources (DPR) has advised the management of Total E&P Nigeria Limited but has remained unbending.
On crude oil theft and acts of vandalism, PENGASSAN alleged high level collaboration of the security agencies, politicians and highly placed Nigerians in the buccaneering racket of oil and gas installations and the resultant crude oil theft, adding that the ugly trend signifies a looming extinction of the oil and gas industry with attendant job losses. This further endanger the national economy with the persistent drop in crude oil prices.
The Association called on the Federal Government to mobilise contractors to site for immediate repair of all perilous roads leading to all oil and gas installations in the country, especially the Shaguolo/Alternative Road to the PPMC depot in Warri, Eleme/Onne Road, Apapa/Ijora/Wharf Road, Tin Can Island Roads, and Port Harcourt/Enugu Road.
The Association described the deduction from workers’ salaries for the National Housing Fund (NHF) as sheer exploitation and demand that the deduction should be stopped forthwith, saying that it would be forced to resort to whatever necessary labour action it deems appropriate to protect its members from further exploitation of the non-beneficial policies that has serve no member’s interest in the sector.
The National body of the apex Union in the Oil and Gas industry have also mobilised its members to various Internally Displaced Persons’ centres across the nations to deliver relief materials and alternative conditions of living especially for women and children.
It stressed that anything short of purposeful  dialogue to resolving the issues will spark the fully mobilized action as they look forward to nothing less than a satisfactory meeting outcome by Tuesday December 9, 2014.

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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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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