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Organization of Petroleum Exporting Countries

Zainab Ahmed

Nigeria proposes N11.9 trillion total expenditure in 2021 budget

The federal government, on Friday, announced total projected expenditure of about N11.9 trillion for the 2021 fiscal year.
Recall that the N10.594 trillion 2020 Budget passed by the National Assembly was on Tuesday assented to by President Muhammadu Buhari. 4

President Buhari’s speech at signing into law of revised 2020 budget

Speech by His Excellency, Muhammadu Buhari, President of the Federal Republic of Nigeria at the signing into law of the Appropriation (Repeal and Amendment) Act, 2020 Presidential Villa, Abuja. Friday, 10TH July, 2019
OPEC and its oil allies reached agreement Sunday to cut global production by 9.7 million barrels a day starting May 1, to shore up the world price in the face of a significant drop in the demand for oil because of the coronavirus pandemic.

Africa’s oil producers impacted by OPEC production cut

Crude oil prices rose marginally on Friday (May 1) as the Organization of Petroleum Exporting Countries (OPEC) and their allies started reducing output.
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has again accused President Muhammadu Buhari of clamping down on the judiciary.

What Africa must do to mitigate damaging effects of coronavirus

Before the novel coronavirus pandemic hit the globe, Nigeria spent 42 per cent of her earnings on debt servicing. We have arrived at a new reality today: even if we devote 100 per cent of our income to rebuilding our economy, it still will not be enough.
President Muhammadu Buhari on Friday in Malabo, said leaders of neighbouring countries would work together and provide all necessary assistance to secure the Gulf of Guinea.

Nigeria, neighbours collaborate on security in Gulf of Guinea

President Muhammadu Buhari on Friday in Malabo, said leaders of neighbouring countries would work together and provide all necessary assistance to secure the Gulf of Guinea.
Pound Sterling

Pound falls after UK parliament rejects Brexit plan

The pound fell Friday after Britain’s parliament again rejected a proposed deal to withdraw from the European Union.

Oil prices gain on OPEC’s cut deal

Oil prices climbed by one per cent yesterday following supply cuts led by Organization of Petroleum Exporting Countries (OPEC) and Russia, although a darkening economic outlook capped gains.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Donald Trump asks OPEC not to cut production

US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.

Oil prices sustaining gains ahead of supply cut deal

Oil prices climbed positively yesterday extending strong gains from the previous day ahead of expected Organization of Petroleum Exporting Countries (OPEC)-led supply cuts and a mandated reduction in Canadian output.

Oil falls, heading for biggest monthly slide since 2008

Oil fell on Thursday bringing losses for the month so far to 23 per cent, marking its largest one-month fall since the depths of the financial crisis in 2008.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil price stabilises over supply cut by OPEC

Oil prices rose by one per cent yesterday as traders expected top exporter Saudi Arabia to push the Organization of Petroleum Exporting Countries (OPEC) to cut supply toward year-end.

Oando’s turnover surges, posts 32% increase of N505 billion in Q3 2018

Speaking on the company’s financials, Adewale Tinubu said; “Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices.”
Indian rupee crashes to all time low of 69 against US dollar | AFP

Indian rupee hits record low amid inflation, credit downgrade

The Indian rupee on Thursday weakened past 69 to a dollar for the first time, slumping to an all-time low amid a spike in crude oil prices, foreign capital outflows and a widening current account deficit.

OPEC inches towards oil output deal ahead of key meeting

OPEC energy ministers expressed optimism Thursday they were nearing a compromise on oil output policy, with Saudi Arabia acknowledging that a big production hike would be “politically unacceptable” to archfoe Iran.

Saudis see oil price on rise as Trump blasts OPEC

Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump who accused OPEC of inflating prices.

Donald Trump tweets at OPEC over “Very High” prices, oil instantly falls

Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.”

Nigeria mulls 700,000 barrels daily oil output surge

Data from the Ministry of Petroleum Resources sighted newsmen showed that indigenous producers from the country aim to pump almost 250,000 barrels per day additional crude by 2020 as part of a wider plan for the nation to lift output to 2.5 million a day.

US to overtake Saudi as crude oil producer – IEA

The United States is set to overtake Saudi Arabia as the world’s number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday.

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Governor Douye Diri has expressed worry over the development, following the lifting of the ban on interstate travel.

Bayelsa lifts ban on mid-week church activities

The Bayelsa State government has lifted ban on mid-week church services and programmes in the state.
Mr Omoyele Sowore and his co-defendant Olawale Bakare have pleaded not guilty to a two-count amended charge levelled against them.

Court to hear N2 billion libel suit against Omoyele Sowore, others September 30

The Federal High Court, Abuja, has fixed Sept. 30 to hear a libel case filed by Global Integrity Crusade Network, (GICN) a Civil Society Organisation against Sahara Reporters and its Publisher, Omoyele Sowore.
Senator Godswill Akpabio, the Minister of the Niger Delta Affairs, has reacted to what he called “a cornucopia of false, malicious, and libellous press interviews” granted by Ms. Gbene Joi Nuineh, the erstwhile Acting Managing Director of the Interim Management Committee, of the Niger Delta Development Commission, (NDDC) in some news and social media platforms and a “series of concerted vicious campaigns of calumny deviously orchestrated by her” against his person.

PANDEF urges President Buhari to inaugurate NDDC board to check Senator Akpabio’s excesses

National Youth Leader, Pan Niger Delta Forum, PANDEF, Olorogun Vincent Oyibode, Wednesday, appealed to President Muhammadu Buhari to inaugurate without any further delay the new board of Niger Delta Development Commission, NDDC, previously screened and confirmed by the Senate, to check the highhandedness of the Minister of Niger Delta, Senator Godswill Akpabio.
One of Brazil’s leading indigenous chiefs, Aritana Yawalapiti, died Wednesday of respiratory complications caused by COVID-19, his family said.

Coronavirus kills leading Brazil indigenous chief

One of Brazil’s leading indigenous chiefs, Aritana Yawalapiti, died Wednesday of respiratory complications caused by COVID-19, his family said.
The Speaker of the Edo House of Assembly, Mr Francis Okiye, has filed a suit at the Federal High Court Abuja to stop the National Assembly from taking over the state assembly’s functions.

Why Edo Assembly deputy speaker was impeached

The Deputy Speaker of the Edo State House of Assembly, Hon. Yekini Idiaye, was impeached on Wednesday for pledging loyalty to the governorship candidate of All Progressives Congress, Pastor Osagie Ize-Iyamu, it has been gathered.