OPEC+ Keeps Steady Policy Amid Weakening Economy, Russian Oil Cap
The decision comes two days after the Group of Seven (G7) nations agreed a price cap on Russian oil.
Oil Pollution: Nigeria’s Supreme Court Gives Shell Go-Ahead to Appeal $1.8bn Court Order
The legal dispute is currently delaying the oil giant’s efforts to sell some assets in Nigeria.
Nigeria Says It Lost N113m over Abuja-Kaduna Railway Closure, Reopens Route Monday
“We shouldn’t only look at the Naira and kobo the railway would have been able to make, but include all other losses by Nigerians.”
Russia Rejects $60-a-Barrel Cap on its Oil, Warns of Cutoffs
Australia, Britain, Canada, Japan, the US and the 27-nation EU agreed Friday to cap what they would pay for Russian oil at $60-per-barrel.
NNPC: $1.4bn Investment in Northern Nigeria’s Hydrocarbons to Yield $6bn Revenue in 20 Years
The deal was sealed in London under the NNPC Limited/Chevron Nigeria Limited Joint Venture .
Buhari: Nigeria Ready to Reap from AfCFTA Benefits
The AfCFTA is an agreement that is expected to create the largest free trade area in the world.
Airbus Pays 15.9 mn Euros to Close French Corruption Probe
Prosecutors from France’s national financial crime unit (PNF), which reached the deal with Airbus earlier this month, said the fine was “fair and appropriate”.
EU Warns Musk that Twitter Must Obey Disinfo Rules
Thierry Breton, held a video call with Musk and told him “there is still huge work ahead
Nigeria-UK Trade Volume Hits £5.5 Billion
“Nigeria is Africa’s largest economy and I’m delighted to see our trade and investment links grow,” said UK Trade Secretary Kemi Badenoch.
Oil Prices Tumble to One-Year Low, Begins Recovery After Rumoured Planned OPEC Cut
OPEC and allies including Russia, a group known as OPEC+, will meet on December 4, to decide the next line of action.
NNPC, Major Marketers Intensify Collaboration to End Fuel Scarcity
They called for a quick intervention by the federal government to improve petrol supply.
Nigeria’s Debt Service Burden to Soar as Local Borrowing Costs Jump to Five-Year High
Since May, the apex bank had lifted rates by 500 basis points to 16.5 per cent.
Nigeria’s Inflation Rate will Fall Steadily to Less than 15% by Q4 2023, Says CBN Chief Emefiele
He says the apex bank is succeeding with various monetary policy measures.
Petrol Scarcity Worsens in Lagos as Transporters Allege Rationing By Marketers
Transport fares have soared by 200% in Lagos.
Air Peace Resumes Uyo Operations December 1, Announces N50,000 Uyo Re-Launch Fare
The airline recently received 6 Airbus aircraft to support its domestic and regional operations.
EU Frets Over Twitter Job Losses as Hate Speech Grows
Tech entrepreneur Musk moved to cut around half of Twitter’s 7,500 workforce
Musk Sets Twitter Poll for ‘General Amnesty’ of Suspended Accounts
“Should Twitter offer a general amnesty to suspended accounts, provided that they have not broken the law or engaged in egregious spam?” Musk tweeted.
EU to Warn Twitter and Facebook to Stick to Rules
The social media giants’ EU operations are based in Ireland, and Brussels is worried that a wave of job losses will undermine their content moderation and data protection standards.
Oil Price Slumps on Reported OPEC’s Plan to Raise Production by 500,000bpd
Nigeria’s benchmark Brent oil sold for $86 per barrel while the West Texas International slumped to $78.
World Bank President Says Nigeria Urgently Needs to Strengthen Fiscal Management
He harped on need to create a unified, stable, and market-based exchange rate.
