The United States intends to release 11 million barrels of oil from its Strategic Petroleum Reserve of 660 million barrels, following a regular draw-down schedule devised to generate funds for government programs. The sour crude is expected to reach the market in October and November, after being sold as a fund generator for a drug […]
Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November. Brent crude oil was up at 78.09 dollars a barrel. U.S. crude was 10 cents higher at 69.90 dollars. The two benchmarks have risen strongly over the last two weeks with Brent gaining more […]
South Africa’s Sun International expects an investigation into a shareholder dispute at its Nigerian operation to be completed shortly, paving the way for the casino and hotel operator to finally exit that market, it said on Monday. Sun International, which reported a 46 percent decline in half-year earnings hurt by subdued growth and one-off costs, […]
Zlatko Dalic is not surprised by the fallout to the Portuguese being snubbed for a top UEFA award, with a global superstar only concerned with himself. Cristiano Ronaldo has seen his attitude slammed by Zlatko Dalic, with the Croatia boss claiming that the Portuguese is an “egotist and I’d never want him in my team”. […]
Two goals from Romelu Lukaku brought Jose Mourinho a much-needed 2-0 win at Burnley on Sunday. In London, Tottenham failed to overcome Watford, losing 2-1. Although Mourinho got some relief at Turf Moor, it was another eventful and controversial afternoon for his Manchester United side. England international Marcus Rashford, only on the field for 10 […]
Upcoming elections in oil producing states, Nigeria and Libya may add a new twist to a familiar theme for OPEC. The oil exporting group’s strategy has repeatedly been adapted to suit the unpredictable political environment in these two African producers. Both were excluded from the 1.8 million barrels per day production cut deal agreed by […]
To strengthen the management of pensions under the Defined Benefits Scheme (DBS), the Pension Transmission Arrangement Directorate (PTAD) says it will integrate automated computation of pension benefits in the coming months. PTAD’s spokesperson Mrs Harriet Agbeniyi said in Lagos on Sunday that the automation would involve deploying technology to execute computation without human assistance. The […]
The Lagos State Governor, Mr Akinwunmi Ambode, on Sunday said that the state would engage 10 major bakeries to ensure the mass production of coconut bread. The governor made the disclosure during the World Coconut Day and 7th Lagos Heritage Festival, tagged “AGUNKFEST 2018″ in Badagry, Lagos. The News Agency of Nigeria (NAN) reports that […]
President Muhammadu Buhari has named a new management for the Nigerian Security Printing and Minting Company. Those appointed include Abbas Masanawa as managing director and Abubakar Minjibir, Chris Orewa and Tunji Kazeem as executive directors. The appointment followed a memo sent to the president by the governor of the Central Bank of Nigeria (CBN), Godwin […]
China’s Exim bank will lend Nigeria $328 million towards improving the west African country’s telecoms infrastructure, Nigeria’s presidency said on Saturday, at the start of a six-day visit by President Muhammadu Buhari to the country. Poor telecoms are a major challenge for businesses operating in Nigeria, which is Africa’s largest oil producer, most populous country […]