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Business Nigeria Loses Crude Oil Buyers To Angola Due To Militants Attacks
Indian Oil Corporation, India's IOC has booked several grades of Angolan crude for July, including Cabinda and Girassol, as its favoured Nigerian Qua Iboe crude oil was under force majeure. “People want stable supply. And Angolan crude is in general very reliable - there are no fears about...- ProfRem
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Business Crude Oil Price Drops to $49
Oil prices dropped more than three per cent yesterday due to return of Nigerian and Canadian crude output from outages and as traders booked profits at the end of the best quarter in seven years. According to Reuters, the market soared more than 25 per cent in the second quarter, as part of an...- ProfRem
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Business Nigeria to Borrow $10bn From Debt Markets - Reuters
Nigerian government authorities are set to hold a non-deal roadshow meeting with investors in London next week for a possible bond sale, a report from Reuters says. According to Sources, Finance Minister Kemi Adeosun, DMO and CBN officials will update the market next Tuesday on government...- LequteMan
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Business Nigeria’s Mohammed Barkindo Likely to Become OPEC Secretary-General
OPEC is likely to choose Nigeria’s Mohammed Barkindo, a former head of state oil firm NNPC, as the next secretary-general of the producer group, three sources with knowledge of the matter said on Tuesday. The Organisation of the Petroleum Exporting Countries has been looking for a replacement...- ProfRem
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Business Crude Oil Prices Drop Ahead Of OPEC Meeting
Oil prices dropped to $49 a barrel on Monday as Iraq raised its crude exports target ahead of an OPEC meeting. Canadian production was set to restart after huge wildfires. But while attention now turned to a meeting of the Organisation of the Petroleum Exporting Countries (OPEC), in Vienna...- ProfRem
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Business Crude Oil Prices Rise as Militants Cut Nigeria's Production Output
Crude Oil prices rose in early trading on Friday as turmoil continues in Nigeria, shale bankruptcies in the United States and crisis in Venezuela all contributed to tightening supplies. Despite this, brimming inventories across the world were preventing supply shortfalls and sharper price...- ProfRem
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Business Crude Oil Prices Rise As Disruptions Hit Nigeria
Oil prices rose over 1 percent on Monday after long-time bear Goldman Sachs said the market had ended almost two years of oversupply following global oil disruptions and flipped to a deficit, Reuters reports. International Brent crude futures were trading at $48.50 per barrel at 0255 GMT, up 67...- ProfRem
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Business Aliko Dangote Set To Acquire Peugeot Nigeria
Aliko Dangote, Africa’s richest man, is set to acquire majority stake in Peugeot Automobile Nigeria (PAN) Limited by teaming up with the Bank of Industry (BoI), Kaduna and Kebbi state governments. Nasir el-Rufai, governor of Kaduna state disclosed at the launch of the Bank of Industry youth...- ProfRem
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World Tunisia: 50 Killed As Militants, Security Forces Clash in Border Town
Islamist fighters attacked army and police barracks in the Tunisian town of Ben Guerdan near the Libyan border on Monday. According to reports from residents and the Interior Ministry at least 50 people, including civilians, were killed in the clashes. The report said that authorities had...- ProfRem
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Business France's Bourbon Oil Vessel Attacked off Nigeria, 2 Kidnapped
Two sailors were kidnapped after a ship belonging to French oil industry services group, Bourbon was attacked in the waters off Nigeria’s coast, the company said Wednesday. “The Bourbon Liberty 251, was the object of an attack off Nigeria on Tuesday where two crew members of Nigerian and...- ProfRem
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World Twitter Suspends over 125,000 Accounts To Combat Terrorism
Twitter Inc. has shut down more than 125,000 terrorism-related accounts since the middle of 2015, most of them linked to the Islamic State group, the company said in a blog post on Friday. Twitter has said it only takes down accounts when they are reported by other users, but said that it has...- ProfRem
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World South Africa Mine Collapse, Traps More Than 100 People
Nearly 80 rescued miners were brought to the surface on Friday, police said, after about 115 were trapped underground following a collapse at a gold mine in northeastern South Africa earlier in the day. Mike McChesney, chief executive of the small gold producer Vantage Goldfields told Reuters...- ProfRem
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Business MTN Realizes Approximately $1bn Profit in Nigeria
The Nigerian subsidiary of MTN Group is likely to report about $955 million in annual profit after tax, the South African telecoms firm stated on Tuesday. "Profit after tax figure for MTN Nigeria for the period ended 31 December 2015 being quoted in the press article, is 190 billion naira...- LequteMan
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