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2015-05-27 18:20:00

NIGERIA'S BIG OIL

NIGERIA'S BIG OIL

As petroleum minister during the 1970s oil boom, Muhammadu Buhari set up the Nigerian National Petroleum Corporation. It is an accident of history that the same man, elected president in March, could now be compelled to dismantle the state oil company he helped create.

The first opposition leader in Nigeria to unseat an incumbent president at the polls, the ascetic, 72-year-old former military ruler will be sworn in on Friday against a backdrop of crippling fuel shortages and falling revenues. His success or otherwise in fixing the company that manages the lifeblood of the economy — oil — could make or break his presidency and determine whether or not Nigeria lives up to its…

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Tags: NIGERIA, OIL,

Chronicle:

NIGERIA'S BIG OIL
2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.

NIGERIA'S BIG OIL
2019, March, 22, 10:15:00

SAUDI'S OIL WILL DOWN

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.

NIGERIA'S BIG OIL
2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).

NIGERIA'S BIG OIL
2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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