Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2017-11-14 18:00:00

NIGERIA NEED INVESTMENT $5.5 BLN

NIGERIA NEED INVESTMENT $5.5 BLN

REUTERS - Nigeria will move ahead with plans to borrow $5.5 billion from foreign investors after the Senate on Tuesday approved President Muhammadu Buhari request for the move.

The money is designed to plug a large gap in Nigeria's finances that stems in part from the global fall in oil prices.

Nigeria's economy grew in the second quarter, climbing out of its first recession in 25 years, but the pace of growth was slow suggesting that the recovery remains fragile.

The 7.44 trillion naira ($24.33 billion) 2017 budget projects a shortfall of $7.5 billion, prompting Buhari's call for foreign loans.

The borrowing would include $2.5 billion in Eurobonds to plug part of the 2017 budget deficit and $3 billion to refinance maturing domestic debt to lower the country's funding costs.

The government intends to spend money on infrastructure projects to diversify the OPEC member's oil-dependent economy. Crude oil sales make up about two-thirds of government revenue.

"We're working to ensure Nigerians get dividends of democracy and return Nigeria to a construction giant," said Gbenga Ashafa, a senator representing a constituency in commercial capital Lagos, according to the Senate's official Twitter feed.

Buhari last week presented a 2018 budget of 8.612 trillion naira ($28.16 billion), the country's biggest ever, to lawmakers. Analysts say implementation of Buhari's budgets since taking office in 2015 has been lacking, particularly on capital expenditure. ($1 = 305.8000 naira)

-----

Earlier:

 NIGERIA NEEDS TIME
2017, September, 15, 08:50:00

NIGERIA NEEDS TIME

Emmanuel Kachikwu, Nigeria’s minister of state for petroleum resources, told the Financial Times that the west African nation’s energy sector was still suffering from years of violent disruptions and needed more “recovery time” before joining a supply deal agreed last year between some of the world’s biggest oil producers.

 

 NIGERIA'S OIL PRODUCTION: 2.2 MBD
2017, September, 4, 12:25:00

NIGERIA'S OIL PRODUCTION: 2.2 MBD

The figure of around 2.2 million to 2.3 million b/d includes about 300,000 to 400,000 b/d of condensates, which implies that its current crude oil production is at the coveted 1.8 million b/d mark.

 

 OIL OUTPUT CONSENSUS
2017, July, 24, 13:55:00

OIL OUTPUT CONSENSUS

With prices still languishing below the $55-$60/b that some ministers have said they are targeting, some market watchers say OPEC and its non-OPEC partners have no choice but to deepen cuts to make up for output gains from exempt Nigeria and Libya, as well as sliding compliance from other members.

 

 WBG - AFRICA'S ECOMOMIC DIFFICULTIES
2017, April, 12, 17:30:00

WBG - AFRICA'S ECOMOMIC DIFFICULTIES

Nigeria, South Africa, and Angola, the continent’s largest economies, are seeing a rebound from the sharp slowdown in 2016, but the recovery has been slow due to insufficient adjustment to low commodity prices and policy uncertainty. Furthermore, several oil exporters in the Central African Economic and Monetary Community (CEMAC) are facing economic difficulties.

 

 IMF HAS NIGERIA
2017, March, 31, 18:35:00

IMF HAS NIGERIA

With oil receipts dominating fiscal revenue and exports, the Nigerian economy has been hit hard by low oil prices and falling oil production. The country entered into a recession in 2016, with growth contracting by 1.5 percent. Annual inflation levels doubled to 18.6 percent, reflecting hikes in electricity and fuel tariffs, a weaker naira and accommodating monetary conditions (broad money expanding at 19 percent y-o-y). Even with a significant under-execution in capital spending, the consolidated fiscal deficit increased from 3.5 percent of GDP in 2015 to 4.7 percent of GDP in 2016, because of significant revenue shortfalls.

 

 NIGERIAN OIL FIRE
2016, September, 28, 18:40:00

NIGERIAN OIL FIRE

Shell says a fire has forced it to close a key oil pipeline feeding Nigeria's strategic Bonny Export Terminal, which militants attacked last week.

 

NIGERIA WANT $50 BLN
2016, June, 27, 18:15:00

NIGERIA WANT $50 BLN

“We’re looking to raise about $40 to $50 billion,” Kachikwu said in the Bloomberg interview. “Going to places like China, which have a huge capacity to put money in the oil sector, is very helpful.”

Tags: NIGERIA, OIL, GAS, INVESTMENT

Chronicle:

NIGERIA NEED INVESTMENT $5.5 BLN
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

NIGERIA NEED INVESTMENT $5.5 BLN
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

NIGERIA NEED INVESTMENT $5.5 BLN
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

NIGERIA NEED INVESTMENT $5.5 BLN
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

All Publications »