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NNPC selects Vitol, Trafigura, Sahara, Oando, 46 others for crude term contracts

It was gathered that as part of the efforts to encourage local participation in the lifting contracts, the corporation selected 20 Nigerian companies, unlike in the 2017/2018 contracts where 18 Nigerian companies made the list.

NNPC issues two-year crude oil contracts

The Nigeria National Petroleum Corporation (NNPC) said it has issued crude export contracts that are expected to last two years instead of the usual one year.

DR Congo’s Joseph Kabila to meet companies over mining code revision

Democratic Republic of Congo President Joseph Kabila will meet mining company representatives on Tuesday to discuss a mining code revision awaiting his signature that would raise taxes and royalties, the mines minister said.

Chad and Glencore agree to restructure $1bn oil loan

Chad announced on Wednesday it had struck a deal with Swiss mining giant Glencore to restructure debt of more than $1bn from a cash-for-crude-oil loan.

Dollar up ahead of Fed minutes

The dollar continued its discreet recovery on Wednesday, lifted by expectations that the American central bank is shifting towards tightening monetary policy quickly, dealers said.

Chad suspends 10 opposition parties

The government of Chad on Wednesday suspended 10 opposition parties for "disturbing public order" and "inciting violence" after they backed trade union calls for a mass protest over austerity measures.

NNPC seeks buyers who can pay $5 billion advance for crude oil

The Nigerian National Petroleum Corporation (NNPC) is seeking buyers who will pay $3.5 to $5 billion and get its value in crude oil between five and seven years.

OPEC to debate capping Nigerian, Libyan oil output – sources

OPEC will debate this week whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest, two sources with knowledge of the matter said on Wednesday.

Senator Tayo Alasoadura asks President Buhari to suspend Ibe Kachikwu, Maikanti Baru

Alasoadura specifically stated that Baru’s continued presence at the NNPC could jeopardise the Senate investigation into the allegations that he allegedly approved contracts to the tune of $25bn without the approval of the corporation’s board.

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