Business & Finance

Sovereign Wealth Fund invests $200m in US bonds

Sep 17, 2013

Nigeria’s Sovereign Wealth Fund, SWF, has invested more than $200 million in the United States bond market. The fund was given by the SWF to UBS, Credit Suisse and Goldman Sachs, to manage a fixed income portfolio. The investment, though relatively small, adds Nigeria to the small cadre of commodity-rich countries that over the past…

Read More

Dangote, richest African in the world

Sep 16, 2013

The Forbes Magazine has declared Aliko Dangote is the richest African in the world in its latest list which features several top players in the Nigerian oil and gas sector. But the world’s richest black woman, Folorunsho Alakija, is conspicuously missing in the magazine ranking of the 21 richest Nigerians. Alakija, an oil tycoon and…

Read More

Brent falls $2 as military action is called off against Syria

Sep 16, 2013

Global oil prices fell to a five-week low below $109 a barrel on Monday after the United States agreed to call off military action against Syria, easing supply concerns. Benchmark front-month Brent futures touched a six-month high of $117.34 a barrel in late August amid worries that a possible US military strike against Syria would…

Read More

OPEC daily basket price stood at $109.87/b on Friday 13th September 2013

Sep 16, 2013

The price of OPEC basket of twelve crudes stood at 109.87 dollars a barrel on Friday, compared with $109.83 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

Read More

SWF to invest in capital market, aviation sector

Sep 15, 2013

Managing Director of the Nigerian Sovereign Investment Authority, NSIA, Mr. Uche Orji, has said that the authority was looking at investing in Monoline insurance, securities, health and aviation sectors of the economy. Speaking at the Securities and Exchange Commission, SEC, Eminent Speakers’ Series held in Abuja on Friday, he said each of the components which…

Read More

Federal Government inaugurates subsidy payment committee

Sep 15, 2013

The Federal Government has constituted a seven-member Pan-industry Committee to explore ways of resolving the lingering dispute between the Ministry of Finance and petroleum products marketing and trading companies over delays in payment of subsidy reimbursements. The Committee which represents different players in the downstream petroleum industry, is to be chaired by the Executive-Secretary of…

Read More

Trade Minister inaugurates oil, gas forum committee

Sep 15, 2013

Minister of State for Industry, Trade and Investment , Dr Samuel Ortom has inaugurated the technical committee for the 2013 oil and gas trade and investment forum billed for October at the Onne Oil and Gas Free Trade Zone. The minister disclosed that the Federal Government is committed to the principles of the free trade…

Read More

$10bn investments opportunities exist in oil, gas sector yearly – GM Brass LNG

Sep 15, 2013

Over $10 billion worth of investments opportunities exist for young professionals in the midstream Nigeria’s oil and gas sector, the General Manager, Public Affairs, Brass Liquefied Natural Gas, BLNG, Lawrence Cobham, has said. Speaking during the first Oil and Gas Retreat in Lagos with the theme: ‘Opportunities for Indigenous Youth Entrepreneur in the Oil Sector,’…

Read More

OPEC daily basket price stood at $109.40/b on Wednesday 11th September 2013

Sep 12, 2013

The price of OPEC basket of twelve crudes stood at 109.40 dollars a barrel on Wednesday, compared with $109.26 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

Read More

Oil price: Brent steady after two-day fall

Sep 12, 2013

Brent crude futures held steady above $111 per barrel on Wednesday, after falling more than four per cent  in the past two days as fears eased of an imminent strike against Syria, www.upstreamonline reported. The United States President Barack Obama vowed on Tuesday to explore an initiative from Russia to neutralise Syria’s chemical weapons, but…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...