BUSINESS

Oil prices rise following announcement of new Iran sanctions

Daily Dispatch June 27, 2018

US demands that importers stop buying Iranian oil saw prices surge following fears of a global shortage, but a potential trade war with China appears to have steadied the market. Prices for Brent crude futures LCOc1 stands at 76.65 dollars  with US West Texas Intermediate (WTI) crude futures

BUSINESS

FG Targets 10 Per Cent Global LNG Market, Says Baru … As Nigeria is set to become Regional Gas Hub

Daily Dispatch June 27, 2018

As part of its strategic aspirations to derive maximum value from Nigeria’s abundant natural gas resources, the Federal Government is targeting 10 per cent of the world’s market share in traded Liquefied Natural Gas (LNG). Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, disclosed this Tuesday while addressing the 27th World

BUSINESS

Baru to Address World Gas Confab in Washington

Daily Dispatch June 25, 2018

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, will join other global leaders to speak at the 27th World Gas Conference (WGC), taking place from 25th to 29th June 2018 in Washington, United States. During the five-day global gas showpiece, Baru is expected to market Nigeria’s tremendous gas potentials as a key […]

BUSINESS

FG kick-start repatriation of stolen funds

Daily Dispatch June 24, 2018

Nigeria is set to partner foreign consultants, comprising legal practitioners and other experts in Switzerland on a voluntary offshore asset repatriation scheme. Mr Abubakar Malami, the Minister of Justice, disclosed this to the News Agency of Nigeria (NAN) in Bern, Switzerland on the sideline of a meeting held at the Nigerian Embassy. Malami said that under the […]

BUSINESS

After VAIDS, FG to begin Voluntary Asset Repatriation Scheme

Daily Dispatch June 24, 2018

Nigeria is set to partner foreign consultants, comprising legal practitioners and other experts in Switzerland on a voluntary offshore asset repatriation scheme. This is coming barely one week to the expiration of the Voluntary Assets and Income Declaration Scheme (VAIDS) which was extended to June 30 by President Muhammadu Buhari after the initial grace period lapsed. Mr

BUSINESS

OPEC, non-OPEC jack output by 1m barrels

Daily Dispatch June 23, 2018

Russia and other non-members of Organisation of Petroleum Exporting Countries (OPEC) have agreed to join OPEC in raising oil production output by one million barrels per day (mb/d) from July 2018. The Minister of Energy and Industry of United Arab Emirates (UAE) Mr Suhail Al Mazrouei, made the decision known at a news conference after […]