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  • Sendje Berge to remain off Nigeria

    October 23, 2017 6:16 AM 41

    Earlier termination notice withdrawn with FPSO now to remain at the field until at least 2021 Sinopec subsidiary Addax Petroleum has agreed to extend a charter with BW Offshore for a floating production, storage and offloading vessel it had earlier terminated the contract for. BW revealed Monday it had agreed terms with Addax over a contract extension

  • US is doing ‘something we’ve never seen before’ with crude, and oil expert Kloza says it could help spark a ‘tale of two markets’

    October 23, 2017 5:45 AM 28

    The United States has started doing something unprecedented when it comes to oil, and the impact is expected to grow into next year. "The highlight you need to watch for the next few months is going to be more record breaking exports of crude oil. Our view is that it's going to soften the price for Brent," the firm's global head of energy analysis said recently

  • CBN Deputy Governor, bank CEOs for CIBN Fellowship

    October 22, 2017 11:01 PM 35

    The Central Bank of Nigeria (CBN) Deputy Governor, Joseph Nnanna and over 50 Chief Executive Officers, Executive Directors and top Management staff of banks as well as Academics will formally be conferred with the Fellowship and Honorary Senior Membership of the Chartered Institute of Bankers of Nigeria in Lagos on Saturday. Out of the 192 awardees to be honored

  • Nostrum Oil & Gas PLC (NOG) Earns “Buy” Rating from Peel Hunt

    October 21, 2017 2:41 PM 38

    Peel Hunt restated their buy rating on shares of Nostrum Oil & Gas PLC (LON:NOG) in a report issued on Wednesday morning. They currently have a GBX 650 ($8.64) target price on the stock. A number of other research analysts have also recently issued reports on the stock. Credit Suisse Group reduced their price objective on shares of Nostrum Oil & Gas PLC from GBX 545 ($7.24) to GBX 460 ($6.11) and set an outperform

  • Shell Nigeria lifts force majeure on Bonny Light exports

    October 20, 2017 1:30 PM 32

    Shell Nigeria lifts force majeure on Bonny Light exports Royal Dutch Shell's Nigeria subsidiary says it has lifted the force majeure imposed on Bonny Light crude oil exports a month ago. Company spokesman Joseph Obari says the force majeure was lifted Thursday. It was imposed on Sept. 16 after a major pipeline, the Nembe Creek Trunk Line, shut down due to leakages

  • NSE index up 0.01% as Cutix, Intl Breweries, Fidson lead gainers

    October 19, 2017 5:53 PM 43

    WorldStage Newsonline-- A two-day downtrend recorded previously on the equities market has been halted with a 0.01% growth recorded in the All Share Index (ASI) on Thursday. The ASI rose from a loss of 0.08 per cent recorded on Wednesday to close at 36,645.65 points, bringing the Year to date returns to 36.36 percent . The market Capitalisation also improved

  • Onne Verde resigns as Dangote Cement CEO, as Q3 profit rises 44.6%

    October 19, 2017 4:27 PM 42

    WorldStage Newsonline-- Dangote Cement Plc has announced that Onne Verde will step down from his position as the Chief Executive Officer (CEO) of the company by the end of the 2017 financial year. This was disclosed by the company's board of Directors in a regulatory filing with the Nigerian Stock Exchange on Thursday. According to the statement, Mr. Onne Van de Weijde

  • Baidu wants to launch a self-driving bus in China next year

    October 18, 2017 7:34 PM 47

    Baidu, China's search giant, is planning to release a fully self-driving bus in China next year, said CEO Robin Li in an interview at Wall Street Journal's D.Live conference. The bus will run on a designated route and Baidu is working with a Chinese company to make it. According to Li, Baidu is very serious about investing in autonomous vehicles. The company

  • Nigeria selling 134 bln naira treasury bills on Wednesday -traders

    October 18, 2017 3:08 PM 31

    LAGOS, Oct 18 (Reuters) - Nigeria was to sell 133.78 billion naira worth of treasury bills at an auction on Wednesday, traders said on Wednesday. The central bank is offering 32.4 billion naira in three-month paper, 35 billion naira in six-month bill and 66.38 billion naira in one-year note. The bank issues treasury bills twice a month to help the government

  • Nigeria’s SEC suspends trading in Oando’s shares

    October 18, 2017 2:15 PM 40

    The Securities and Exchange Commission (SEC) has directed the Nigerian Stock Exchange to place the shares of Oando Plc on technical suspension. A statement by the management of the commission on Wednesday said the company would be suspended due to several complaints against it by shareholders in the capital market. Technical suspension is the interruption