Tag: PENGASSAN

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria loses N91bn oil in one month – Analysis

Statistics have shown that Nigeria lost N91bn worth of oil to various technical issues in just one month. Data sourced from the Nigerian National Petroleum Corporation’s latest Monthly Financial and Operations Report (April 2021) showed that the revenue was lost due to the inability to produce approximately 3.5 million barrels of oil in April. Total […]

Oil and Gas

PENGASSAN moves to stop casualisation in oil industry

The Petroleum and Natural Gas Senior Staff Association of Nigeria says it will ensure that issues of casualisation in the oil and gas industry are reduced to a minimal level. The PENGASSAN President, Mr Festus Osifo, made this known at a media parley with journalists in Lagos, according to a News Agency of Nigeria report. […]

Banking Oil and Gas

Vandalism, others push oil firms’ bank borrowing to N5.68tn

The combined bank borrowing of oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry rose from N5.19tn in January 2021 to N5.68tn in December 2021, showing an increase of N490bn. Operators in the downstream, natural gas and crude oil refining subsectors had borrowed N290bn from Nigerian banks in […]