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Saudi Arabia and Kuwait will struggle to resume oil production from jointly operated fields any time soon due to operational differences and souring political ties between the previously close Gulf OPEC allies, sources familiar with the matter said.
Oil prices hit a four-year high of $81.48 a barrel on Tuesday after Saudi Arabia and Russia appeared to reject calls from the US to increase production amid looming sanctions against Iranian oil.
State run Saudi Aramco, the world’s top oil company, said on Sunday it has appointed five new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives.
Saudi Arabia and Russia are working on a long-term deal to extend their alliance on oil curbs that began in January, 2017, after a crash in crude prices.
From allowing women to drive, to the lifting of a decades-long ban on cinemas, ultra-conservative Saudi Arabia has recently taken a series of social reforms.
Saudi Arabia said on Monday it will trim crude exports to Asian customers in January to help accelerate the rebalancing of the international oil market.
OPEC and non-OPEC oil producers will agree at a meeting on Thursday to extend an output-cutting deal until the end of 2018, four sources familiar with the matter said.
OPEC and Russia look set to prolong oil supply cuts until the end of 2018 this week while signalling that they may review the deal when they meet again in June if the market overheats.
The Chief of Air Staff, Air Marshal Oladayo Amao, has said the Nigerian military will win the war on insecurity in the North-East and other parts of the country.
The Oyo State Police Command on Friday confirmed the release of the abducted victims at Onipe, a suburb along the Ijebu-ode/Idi-Ayunre axis of Oluyole Local Government Area of the state on Monday by unknown gunmen.
The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo Worldwide, has warned non-Igbo indigenes residing in the South-East to erase ‘no man’s land’ from their minds.
Mexico's Senate on Thursday voted to extend the term of the president of the Supreme Court for an extra two years, a move criticized by opposition lawmakers who called it a bid by the ruling party to strengthen its hold on the country's institutions.
The Police Command in Kaduna State said on Friday that it had arrested three suspects for criminal conspiracy, inciting disturbances and abduction in the state.
The Federal Government on Saturday signed a Memorandum of Action (MoA) with striking Nigeria Association of Resident Doctors (NARD) to end the action.
The oil-rich state of Qatar is to invest a total of $5 billion in Nigeria’s economy, the Foreign Affairs Minister, Godfrey Onyeama, has disclosed.
Governor Seyi Makinde of Oyo State has advised traditional rulers in the country to give titles to only people of impeccable character.
The Delta South Political Assembly, DESPA, in Delta State, has cautioned Delta Central (Urhobo) politicians who newly floated a political movement, DC-03, to propagate the governorship quest of their ethnic group in 2023 not to mislead Deltans on the zoning formula.
Governor Samuel Ortom of Benue state, Saturday said the Governors and leaders of the People’s Democratic Party, PDP, have revolved that they would not repeat the mistakes of 2015 that cost the party the leadership in the country.