Market News
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Nigeria: FG to Halt Importation of Petroleum Products By 2018 - - Aganga
Posted on :Friday , 17th October 2014
The Federal Government will halt the importation of petroleum products into the country in the year 2018.The Minister of Industry, Trade and Investment, Olusegun Aganga, gave this hint in Ilorin, Kwara State, when he paid a pre-commissioning visit to the Steel Cold Rolling Complex of Kam Industries Limited.According to him, a minimum of about $14 b. . .
Mart Resources restores pipeline, to boost Forcados exports
Posted on :Thursday , 16th October 2014
Mart Resources and co-venturers, Midwestern Oil and Gas Company and SunTrust Oil Company has confirmed completion of repairs on the damages Umugini pipeline in Rivers State.The partners in a statement issued at the weekend, stated that the 51-kilometre Umugini pipeline tie-in at the Eriemu flow station and other start-up activi. . .Algeria to invest $3.48 bn on new gas pipelines
Posted on :Wednesday , 15th October 2014
Sonatrach, an energy company in Algeria, will invest $3.48 billion in establishing new gas pipelines throughout the country to improve capacity of existing pipeline network, its interim CEO said in a conference on gas industry held in the western province of Oran.
He added that the new gas pipelines under construction will be ready by July 2016, and will help . . .Nigeria: World Bank Tasks FG to Raise Excess Crude Account to U.S.$6.3 Billion
Posted on :Wednesday , 15th October 2014
The World Bank has advised the federal government to increase its fiscal buffers by raising the excess crude account (ECA) to $6.3 billion.
Finance Minister, Dr. Ngozi Okonjo-Iweala, disclosed this in Washington DC, saying the World Bank tasked the Federal Government on the need to increase its fiscal buffers by building external reserves to about $6.3 billion. . .Nearly 3% of output vulnerable if oil falls to $80 – IEA
Posted on :Wednesday , 15th October 2014
Nearly 3% of global oil production is vulnerable to cuts if prices fall to $80 per barrel, making some projects in Canada, Angola, Brazil and Norway unprofitable, the International Energy Agency said.The estimate was included in a monthly report in which the IEA also cut its forecasts for oil demand and said prices may drop fur. . .Please Select an Option
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