Skip to main content


Showing posts from January, 2018

NNPC Justifies Preference for FOB Nigeria’s Crude Exports

The Nigerian National Petroleum Corporation (NNPC) has given reasons why it prefers to use the Free-on-Board (FOB) system to export Nigeria’s crude oil to their respective destinations and not the Cost, Insurance and Freight (CIF) system. The NNPC, according to a statement it sent out yesterday in Abuja, explained that despite the value erosion inherent in the FOB sale arrangement, prevailing security situations and the need to guarantee steady revenue into the Federation Account had informed its preference for the system. The corporation justified its preference for the FOB during a high-powered meeting of stakeholders in the maritime industry which the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and NNPC’s Group Managing Director, Dr. Maikanti Baru, attended. The meeting according to the statement signed by the Group General Manager, Public Affairs of the NNPC, Mr. Ndu Ughamadu, was convened to generate ideas on how best to export Nigerian crude oil to attract

Military incapable of securing oil, gas assets, says Delta dep gov

No amount of military deployment would guarantee the safety of oil facilities in the Niger Delta, according to the deputy governor of Delta State, Kingsley Otuaro. Making the declaration yesterday in Warri at the end of a two-day conference on securing oil and gas facilities in the state, advocated for a comprehensive scheme where communities are routinely involved in the protection of oil and gas assets in the oil-rich region. Otuaro, who doubles as chairman of the Delta State Advocacy Committee Against Vandalism of Oil and Gas Facilities, decried the situation where international oil firms operating in the Niger Delta site their headquarters outside the region, thus denying the states in the region taxes and royalties due to them. The body was set up to halt the destruction of oil assets in the state by Governor Ifeanyi Okowa late 2015 at the height of the bombing of these installations by the militant group, Niger Delta Avengers. The deputy governor, who read the communiqué

Medium Pressure Safety - All Tubing is Not Created Equal

In industrial applications where high pressures (over 6,000 psi) are used, safety is of paramount importance. Even well below these pressures, precautions are needed to ensure a safe working environment. Tubing from different manufacturers may look the same on first glance – and, indeed, it may be certified to meet minimum requirements, but is it going to perform correctly, do the job and ultimately, not risk the safety of plant and personnel? Safety and efficiency – the Autoclave ethos Because of the risks with connection leaks, there is a real need to make sure it is has undergone all necessary tests, is specified alongside appropriate fittings and will, therefore, optimise safety and performance. To reassure customers that our tubing is certified over and above current requirements, we introduced our own AES 222 (Autoclave Engineers Specification). This covers an extensive range of additional requirements for which the tubing is tested, including bore finishes, milled sections

Achieving Profitability and Sustainability of SMEs in Nigeria: Why the ParkerStore is a Valued Partner

The diversification and development of the Nigerian economy is very much dependent on the growth of its manufacturing industry.  When the productive sector is vibrant and active, Nigeria and Nigerians will ultimately benefit. For example, the employment potentialof a vibrant manufacturing sector for the country’s citizensisenormous. It is therefore clear that stimulating the industrialization of Nigeria will accelerate the growth of the economy and the welfare of its people. To achieve robust industrialization and sustainable economic growth, it is generally acknowledged that SMEs play a critical role. SMEs typicallyoperate with low amountsof capital and yet produce an enormous amount of the products used within a country. Countries that successfully support the effort of their SMEs to produce quality products are generally able to raise the standard of living of citizens within their country. These countries also succeed in getting their citizens to export such goods and this r