Crude oil price: Intel laments dwindling economy

*Crude oil stock.

*Crude oil stock.

Mkpoikana Udoma 25 May 2016, Sweetcrude, Port Harcourt – A leading logistics services provider in the oil and gas industry, Integrated Logistics Services Limited, popularly known as INTEL, says it is “bleeding because of the dwindling economy that is affecting the industry.”

Public Relations Officer of the port concessionaire, Mr. Isidore Sambo, made this known while reacting to an alleged sacking of over 1,600 workers of the company as revealed by the Nigeria Labour Congress, NLC, and the Maritime Workers Union of Nigeria, MWUN. The two labour unions plan to picket the company.

Sambo explained that the company was re-structuring its workforce, pointing out that much vessels no longer call at Intel, operators of the oil and gas free zone in Onne, Rivers State.

He explained that the fall in global oil price has drastically affected the company as it could no longer maintain its workforce, especially the dockworkers.

“Companies are going through re-organisation at the moment because of the economy, so just like every other company, we are also going through re-organisation.

“INTEL has been badly hit just like every other terminal operator, everybody is weighing what to do and we are also in the same process”.



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