Nigeria’s oil exports are expected to fall slightly in June to just under 1.8 million barrels per day (bpd), loading plans showed on Monday. Reuters reports that the export plan comprised 60 cargoes, for a total of 1.796 million bpd, compared with the 1.895 million bpd in May’s revised export programme. June exports will also […]
As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has […]
The Nigerian Electricity Regulatory Commission (NERC), has sent a proposal to the Central Bank of Nigeria (CBN), for a N200 billion single digit interest loan to aid investment into the Metering Asset provider (MAP) regulation. In an interview with Leadership at a power dialogue organised by Nextiere in Abuja, NERC’s Commissioner of Finance & Management […]
The International Air Transport Association (IATA) summit has opened in Doha, with delgates from countries around the world coming together to talk about the future of aviation in one of fastest growing markets. Notably absent however are the rest of the Gulf states (except for neutral Oman) with Qatar embroiled in a diplomatic standoff with […]
Nigerian government has announced plans to use the $322.52 million returned to the country by the Swiss government as part of the fund looted and stashed abroad by late military dictator, General Sani Abacha, to implement its national social safety net programs. Mrs. Kemi Adeosun, the Minister of Finance, made this known while talking to […]
Contrary to insinuations, Finance minister Kemi Adeosun and CBN governor Godwin Emefiele, never confirmed they would attend Investors’ Summit in Washington. They were not scheduled to attend the Nigeria-US Investment Summit because they had other engagement at the IMF which coincided with their official engagement. The duo replied the Emir of Kano, Alhaji Muhammadu Sanusi, […]
While $80 oil seemed in the clouds just a year ago, it now looks primed for capture. Technical indicators show that the price Saudi Arabia is said to be aiming for may be within reach, with global benchmark Brent crude already above $74 per barrel, World Oil reported. While futures in London have broken past […]
A Colorado woman is facing a $500 fine from U.S. Customs and Border Protection for saving a free apple she received as a snack from Delta Air Lines on her way back to the United States from Paris, France. Crystal Tadlock told Fox 31 Denver, toward the end of her flight from Paris, flight attendants […]
THESE are first pictures of Volkswagen’s first all-electric racing car called the I.D. R Pikes Peak – a vehicle with technology that will percolate down to road cars in the near future. The world premier of the I.D. R Pikes Peak gives a strong indication of how electric VW’s drive systems can perform in out-and-out […]
The global market has the capacity to absorb higher oil prices, Minister of Energy, Industry and Mineral Resources Khaled Al-Faleh has said. Faleh’s statement at a meeting of oil producers in Jeddah on Friday came as crude hit the highest level in more than three years. The statement drew a swift reaction from US President […]