Industry Newsbite for w/e 28 July
Posted on July 24, 2008 – 3:29 pm | by oilandgaspress.com
>> Highest petrol prices in Europe
In Norway, many motorists are up in arms over why they have to pay the highest petrol (gasoline) prices in Europe when the country is the world’s fifth-largest oil exporter and a recent tax hike has done little to cool tempers, Diesel costs 14.23 kroner (1.78 euros, 2.82 dollars) a litre (quarter gallon) and 95 unleaded 13.84 kroner
>>New York’s main contract, light sweet crude for September delivery, dropped 1.79 dollars to 126.63 dollars pera barrel. London’s Brent North Sea crude for September delivery shed 1.89 dollars to 127.66. Prices have tumbled by more than 20 dollars since striking record highs above 147 dollars on July 11. However, they remain at elevated levels after smashing through 100 dollars for the first time at the start of the year.
The US Energy Information Administration said Wednesday that crude reserves fell 1.6 million barrels in the week ending July 18. Market expectations had been for a decline of 600,000 barrels. But the EIA added that gasoline stockpiles rallied by 2.9 million barrels.
>>In a press release signed by NNPC’s Group General Manager, Group Public Affairs, Dr. Levi Ajuonuma, the corporation said “at no time did the NNPC have anything to do with any militant group to repair the pipeline, knowing tha t group has the technical competence to carry out such jobs.”
Yar’Adua had told the House Committee on Finance Tuesday that the corporation paid the sum of $6million to the Niger Delta militant groups to enable its officials have a lee way to repair the Chanomi Crude Oil Pipeline in Delta state.
Ajuonuma, who restated the corporation’s commitment to the empowerment of communities in its area of operations as a way of sustaining its services to the people, also denied reports that the Corporation has been spending about $6million monthly on the repair of its damaged pipelines.
“The NNPC categorically refute the allegations credited to our Group Managing Director to the effect that it paid money to militant groups to gain access to the site of the damaged pipeline at Chanomi Creek. We wish to state that the GMD, who has always demonstrated his avowed commitment to community empowerment, was quoted out of context”. “At no time did the Corporation pay any money to either members of the Movement for the Emancipation of Niger Delta (MEND) or any other militant group for that matter”, the corporation stated.
>>Nexus Alliance Limited (Nexus), a training, manpower supply and technology services company for the Oil, Gas and Petrochemical industry announced that The second batch of the NNPC/Nexus FSTP-T participants based in Kaduna Nigeria graduated on June 26, 2008 with highly impressive results. The graduation address was given by Engineer M.O. Agoro, the Managing Director of Kaduna Refinery, and he encouraged all the Technicians to be totally committed to their jobs at NNPC. He asked them to ‘learn and apply new skills and knowledge and to work with co-workers cooperatively and collaboratively”. Discussions are in the advance stages to certify the FSTP program with the Scottish Accreditation Agency.
>>The Chairman, Gas Monitoring Committee of the Revenue Mobilisation, Allocation and Fiscal Commission, Emmanuel Nsa yesterday revealed that Nigeria loses an estimated $2.5 billion annually to gas flaring aside its negative environmental implication on the inhabitants of the oil and gas area.
Nsa made the disclosure when he and members of the gas flaring committee of [RMAFC] visited Government House, Benin, adding that Nigeria has the highest gas reserve in Africa and ranked seventh in the world with a production capacity to last for 100 years.
source: http://www.thisdayonline.com/nview.php?id=117717
Tags: Industry Newsbite, Oil and Gas
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