Top Financial News   

06 November 2018

NNPC, Shell, ExxonMobil considering crude-for-product swaps: The Nigerian National Petroleum Corporation has said it can sign crude-for-product deals with Shell and ExxonMobil, similar to the one signed with BP last week.(Source:Punch)


Lagos oilfield output drops, further drilling expected in 2019: The Aje field, offshore Lagos, where crude oil production started nearly two and a half years ago, saw its output decline by 75,936 barrels to 912,870 barrels last year, latest data from the Department of Petroleum Resources showed.(Source:Punch)


Golar to establish LNG-fired power plant in Nigeria: A London-based gas shipping company, Golar LNG Limited, said on Monday that it was in talks with Nigerian authorities about setting up a power project that could use one of its vessels to import Liquefied Natural Gas.(Source:Punch)


$3.1bn sale to BDCs sustained naira stability – ABCON: The Association of Bureaux De Change Operators of Nigeria has said that the 163 per cent increase in dollar sales to bureaux de change, to the tune of $3.1bn in the first half of the year, helped to sustain exchange rate stability and protected 25,000 jobs in the subsector.(Source:Punch)


209 cases worth N6tn pending at tax tribunal – FG: About 209 cases worth over N6tn are currently pending at the various zones of the Tax Appeal Tribunal across the country.(Source:Punch)

NNPC Targets 40m Barrels Oil Reserves: The Nigerian National Petroleum Corporation (NNPC) has indicated it would be looking to oil explorationists under the aegis of the Nigerian Association of Petroleum Explorationists (NAPE) to support its aspirations to grow Nigeria’s crude oil reserves to 40 million barrels.(Source:Thisday)


Buhari: FG Saves N24bn Monthly Through TSA: President Muhammadu Buhari has disclosed that the federal government is saving a total of N24.7 billion monthly as a result of the implementation of the Treasury Single Account (TSA) and the elimination of ghost workers from the country’s civil service.(Source:Thisday)


Saraki Decries Use of $1.05bn NLNG Dividends for Fuel Subsidy: Senate President Bukola Saraki has faulted reported use of $1.05billion, by the Nigeria National Petroleum Corporation (NNPC), from its dividends from the Nigeria Liquefied Natural Gas (NLNG) for fuel subsidy.(Source:Thisday)


NPDC, Neconde Begins Joint Gas Production, Delivery: Neconde Energy Limited and its Joint Venture Partner – the National Petroleum Development Company (NPDC) in Oil Mining Lease (OML) 42 have commenced production and delivery of gas to the domestic market through the Nigeria Gas Marketing Company.(Source:Thisday)


Power loss in 3months shots up to 337,364MW: There are indications that Nigerians may have a bleak Christmas celebration as the nation’s electricity supply continues to decline, data from the power generation fact sheet of the Presidential Task Force on Power showed.(Source:Vanguard)


SAHCO signs N1.9bn IPO offer documents: Skyway Aviation Handling Company, SAHCO Plc, has concluded arrangement to float an Initial Public Offering, IPO, of about N1.9 billion, the first in the capital market after four years of primary market lull. Parties to the issues, yesterday, signed the offering documents.(Source:Vanguard)


Nigeria still flares commercial gas, loses N128bn in five months: Nigeria lost $416.224 million, about N127.78 billion to gas flaring in the first five months of the year, as oil and gas companies operating in the country flared a total of 130.07 billion standard cubic feet of gas from January to May 2018.(Source:Vanguard)


Labour, FG strike new minimum wage deal, to be revealed Tuesday: Labour leaders, who have called off a planned nationwide strike, have agreed a new national minimum wage at the end of negotiations with a Tripartite Committee, set up by the Federal government.(Source:The Nation)


CBN receives 1,439 complaints against banks in six months: The Central Bank of Nigeria (CBN) received a total of 1,439 and 2,451 complaints against banks and other financial institutions in the first half of the year. The data is contained in the half-year economic report for 2018 released by the regulator.(Source:The Nation)

Reporting for EasyKobo on Tuesday , 06 November 2018 in Lagos, Nigeria

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