Oil prices fell on Friday after U.S. President Donald Trump criticized OPEC and said oil prices were artificially high, but they were still set for a weekly gain. Brent crude oil futures LCOc1 were at $73.01 per barrel at 1357 GMT, down 77 cents from their last close. U.S. West Texas Intermediate crude futures CLc1 […]
More Nigerian export grades surfaced, while traders said Sonangol sold another cargo from its June export plan. ANGOLA * Traders said Sonangol sold its early-month Dalia, likely to an eastern buyer. The deal was not confirmed. Sonangol had been offering the cargo at a $1.50 per barrel discount to dated Brent. * Sonangol continued to […]
An improvement in Nigeria’s oil earnings is on course as prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down excess supplies. Brent crude oil futures were up at 73.79 dollars per barrel at 0440 GMT. U.S. West Texas Intermediate (WTI) […]
President Muhammadu Buhari has drawn criticism from social media and the opposition alike for saying many young Nigerians think they need “do nothing” to enjoy free homes, hospitals and schooling because they live in an oil-rich country. Buhari, who said last week he will run for a second term in elections next February, made the […]
Spot trading activity was subdued while the market awaited more loading programmes and digested offers from Sonangol’s June export plan. ANGOLA * BP purchased a June-loading cargo of Saturno from Sonangol, traders said. * Sonangol was also offering three Dalia cargoes at dated Brent minus $1.50 per barrel, one cargo of Olombendo at dated Brent […]
The European Investment Bank has finalised a $20 million equity stake in a new Nigerian-backed development bank set up to boost lending to small businesses and agriculture. The African Development Bank (AfDB) will also invest $50 million in the Development Bank of Nigeria, the two development lenders said in a statement. The new Nigerian bank […]
Ovo has unveiled a range of products that, together with its intelligent platform Vcharge, could form the components of a distributed, domestic energy system for the future. The range includes a domestic electric vehicle-to-grid charger, designed and manufactured in the UK. Ovo says the charge point will accelerate the global transition to electric vehicles (EVs) […]
Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. That last throwback to 19th century trade is about to fall. A.P. Moeller-Maersk A/S and other container shipping […]
… Advises customers on safety measures as rainy season begins By Foster Obi Ikeja Electric (IE), Nigeria’s largest electricity distribution company, has attributed the zero fatality record attained by the company in Q1 of 2018 to its highly effective safety policy and programmes. The Disco according to the recent safety report released by the Nigerian […]
