- Kenya Airways Accuses Aviation Unions of Not Protecting Workers’ Interest
The East African carrier, Kenya Airways has accused aviation unions, especially the National Union of Air Transport Employees (NUATE) of not protecting the interest of its members.
The airline said that it has made efforts recently to negotiate with the union before 22 workers were laid off on redundancy but the leaders of the union failed to come to the negotiating table on the appointed dates.
A document made available to reporters by a source close to the airline, listed several attempts made by the airline to ensure a meeting with the unions on the planned redundancy of some of the workers, but the unions avoided meeting with the management even when some of its officials came from its head office in Nairobi, Kenya.
The letter with the reference number, IR/NUATE/11/04/2018/BF dated April 11, 2018, sent to the General Secretary of the National Union of Air Transport Employees (NUATE) and signed by Bridgette Imbuga, Acting Chief Human Resources Officer, Kenya Airways and made available to newsmen, stated that the airline as at January 15, 2018 notified the union of its redundancy plan and called for a meeting with the airline, which the union refused to honour.
According to the letter, NUATE had picked different dates ranging from February 15, 2018, February 26, 2018, March 6, 2018, March 16, 2018, and April 5, 2018 for a meeting with the management of the airline, but failed to honour any of the dates and gave excuses for its inability to honour any of the dates proposed by the union itself.
The letter read in part: “Despite our displeasure, we dutifully indulged you and agreed to hold the meeting on the 16th March 2018. Although, you kept us waiting at your national secretariat conference room for the better part of the afternoon, you finally turned up for the meeting at 4:30pm local time on the 16th March 2018.
However, you declined to discuss the redundancy subject and instead proposed that we pick another date to specifically negotiate the redundancy payments. After considering each party’s commitments, you personally proposed 5th April 2018, which we mutually accepted and firmed up.
“It was therefore shockingly disappointed and unexpected that you failed to attend the meeting on the agreed date without any apologies or prior notification notwithstanding the fact that the management team had travelled to Lagos and were more punctually present for the meeting at the appointed venue.”
General Secretary of NUATE, Olayinka Abioye had earlier alleged that the airline abruptly sacked the workers without enough notice and threatened that the East African carrier would be picketed to reverse its decision.
Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd
The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.
The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.
The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.
The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.
Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.
The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.
Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins
Oil Prices Recover from 4 Percent Decline as Joe Biden Wins
Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.
This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.
Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.
On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.
“Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.
“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”
The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.
“There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.
“Either you’re crimping energy demand or consumption behavior.”
Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020
Revenue of OPEC Members to Drop to 18 Year Low in 2020
The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.
EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.
“If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.
The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.
It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.
It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.
“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”
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