ADVERTISEMENT
The Sun Nigeria
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Home Business

PENGASSAN tasks IOCs on reviving local refineries

....Wants FG to take action now

13th January 2020
in Business
0
Local content breach: PENGASSAN  set to tackle Exxonmobil
0
SHARES
161
VIEWS
Share on FacebookShare on Twitter

Bimbola Oyesola, 

In a bid to make Nigeria get it right in local refining of petroleum products, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has advocated the inclusion of a clause that mandates international oil companies (IOCs) to refine a certain percentage of their crude oil in Nigeria.

President of PENGASSAN, Ndukaku Ohaeri, addressing the media at the weekend, said this would mark a new era in the oil and gas industry, to the benefit of Nigeria and its people.

He that lamented the lack of significant investment in the industry, until the recent NLNG Train 7 FID, has continued to limit the overall contribution of the sector to economic growth and development.

“We are, therefore, using this avenue to call for the resuscitation of the nation’s refineries, as this will create more jobs, reduce the burden of importing refined petroleum products and add value to our national economy as well as save some foreign exchange,” he said.

He stated that the union would continue to advocate for the application of the NLNG ownership and operating model for the nation’s refineries as one of the best ways to maximise those national assets.

Ohaeri, noted that the success story of NLNG needed to be replicated in other government-owned assets such as the four ailing refineries.

The NLNG, backed by the NLNG Act, is owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (NNPC) with 49 per cent stake; Shell, 25.6 per cent stake; Total Gaz Electricite Holdings France, 15 per cent stake; and Eni, with about 10.4 per cent stake.

He explained that these oil firms with the 51 per cent stake in NLNG were good in what they do, as core business people who bring in quality expertise and the right model required for the refineries to succeed.

Additionally, the oil workers called on government to look beyond politics and reconsider the passage of the Petroleum Industry Governance Bill (PIGB).

The bill, according to them, would remove some of the barriers of efficiency, address loopholes fuelling corruption and position the industry for greater competitiveness and productivity.

The PENGASSAN boss also commended government’s efforts to harness gas flared through the Nigerian Gas Flare Commercialisation Programme (NGFCP) in reducing the nation’s carbon print in the atmosphere, thereby resulting in ozone layer depletion and climate change. He stated that the association believed that government should support several gas-to-power initiatives, domestic gas commercialisation, as well as develop a legal/fiscal framework to develop non-associated gas.

He said, “We believe significant investment should be made in the area of gas and we are particularly glad that the Final Investment Decision for NLNG Train 7 has been signed.

“We also need to start developing renewables, the emerging market in the energy sector, so as to capture potential and opportunities.”

On the Integrated Personnel Payroll Information System (IPPIS), the association reiterated its earlier stance that whilst it is desirable to pursue accountability and transparency in all financial dealings of government, it is incumbent on policymakers to assess the workability of any system on the impacted.

He lamented that the IPPIS was not supported to accommodate the peculiarity of the oil and gas industry, which is solely dependent on appraisal, evaluation and performance indices.

He added, “Our members are on another government-run payroll platform, GIFMIS, which has proven to be more amenable to the concerns raised by our association. The payroll structure in the industry is based on collective bargaining agreements and will be a disincentive to disregard the tenets of the statutory negotiations between government and the unions.”

Rapheal

Rapheal

Related Posts

Dagana takes over as KEDCO CEO; promises improved service
Business

Dagana takes over as KEDCO CEO; promises improved service

24th July 2022
Ukraine, Russia sign grain export deal
Business

Ukraine, Russia sign grain export deal

23rd July 2022
How new AON leadership can weather turbulent storms
Business

Aviation fuel scarcity: Expect flight cancellations, delays – Airline operators

23rd July 2022
Next Post
FAAC allocations: How FG, states, LGAs shared N8trn in 2018

Food workers call for review of tariffs, excise duties

Association renews commitment to support alma mater

PenCom: Now that Hon. Agbonayinma has resigned

Pension for ex-govs: SERAP goes to court

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Banks, OPS synergy key to sustainable growth, says ACAMB President

Police arrest man for alledgely raping minor in Adamawa

COVID-19: Expert advocate improved testing, surveillance

Tinubu, El-Rufai’s wife, others hail APC professionals council on mass mobilisation

Onitsha River Port: NIWA to deploy Navy, Marine Police, special force to secure Waterways

Kaduna Train Attack: Terrorists Threaten to kill, sell hostages, warn Buhari and El-Rufai

Trending

Soldiers repel attack on military checkpoint in Bayelsa
Cover

Security operatives kill 2 gunmen, recover weapons, cars, others in Anambra

24th July 2022
0

From Obinna Odogwu, Awka Joint security forces have killed two of the gunmen terrorising parts of Anambra...

Adebamowo’s claims false, only a ruse to cover atrocities in Igboya, Ewade Ruling family

Adebamowo’s claims false, only a ruse to cover atrocities in Igboya, Ewade Ruling family

24th July 2022
Group warns youths on dangers of drug abuse

Group warns youths on dangers of drug abuse

24th July 2022
CAC to be repositioned as one of best registries globally — registrar

Banks, OPS synergy key to sustainable growth, says ACAMB President

24th July 2022
Police rescue APC chairman in Edo

Police arrest man for alledgely raping minor in Adamawa

24th July 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Security operatives kill 2 gunmen, recover weapons, cars, others in Anambra
  • Adebamowo’s claims false, only a ruse to cover atrocities in Igboya, Ewade Ruling family
  • Group warns youths on dangers of drug abuse
  • Banks, OPS synergy key to sustainable growth, says ACAMB President
  • Police arrest man for alledgely raping minor in Adamawa
  • COVID-19: Expert advocate improved testing, surveillance
  • Tinubu, El-Rufai’s wife, others hail APC professionals council on mass mobilisation
  • Onitsha River Port: NIWA to deploy Navy, Marine Police, special force to secure Waterways
  • Kaduna Train Attack: Terrorists Threaten to kill, sell hostages, warn Buhari and El-Rufai
  • Latest ISWAP Video Of Abuja-Kaduna Train Victims; “Your Government Has Failed Nigerians”, APC Chieftain Blasts Buhari,
  • Tap into potentials of AfCFTA, NAFDAC tell pharmaceutical companies 
  • Falconets head to Colombia to finalise preparations for Costa Rica 2022
  • Hajj: 790 Kaduna pilgrims return home in 2 flights — Official
  • Woman stabs husband to death in Adamawa
  • California declares emergency over wildfire near Yosemite
  • Vote buying: INEC tasks NASS on speedy passage of electoral offences commission bill
  • About 7m voters so far registered in Lagos -INEC
  • C/River Govt hopeful for bigger, better carnival in December
  • Queen Moremi advises students against exam malpractice, says no short cut to success
  • Remain hopeful against all odds, Cleric urges Nigerians

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • Change of Name
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.