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Business / Glut Looms As Buyers Reject Nigerian Crude by Emekamex(m): 10:12am On Mar 09, 2018 |
Nigeria's oil supply to the international market is facing glut as ample supply of light and medium grades from the North Sea and the Mediterranean are limiting buying interest for Nigerian crude, traders said. This is coming as Angola launches big oil block. A glut of Nigerian cargoes reckoned to be near 50 cargoes was said to be weighing on the market, traders said yesterday, while state Angolan oil firm, Sonangol, trimmed its offer of Saxi crude. Much of the glut could end up heading into the refining systems of major oil companies like Shell and Total, a trader said, meaning the excess is effectively lower than 50 cargoes. Demand for Agbami and Qua Iboe has been higher than demand for other grades so far. while Qua Iboe was being offered at about dated Brent plus $2. About 10 April-loading Angolan cargoes remained available, steady from Tuesday's estimate. The CLOV grade has been relatively slow to find buyers. Sonangol trimmed its offer of Saxi crude to dated Brent plus 50 cents, down 25 cents from Tuesday's level, a trader said. The company was still offering Dalia at dated Brent minus 70 cents a barrel. Meanwhile, Angola is set to launch its big oil block. The first vessel that will pump and store oil for Angola's 230,000 barrels per day (bpd) Kaombo project is en route to the West African nation, operator, Total, said. The Kaombo oil block will produce its first oil this summer. Once it is fully up and running, it will add roughly 14 per cent to the OPEC member nation's average 2017 output of 1.632 million bpd. The Kaombo Norte floating production, storage and offloading (FPSO) vessel left Singapore earlier this week. The vessel has a capacity to pump 115,000 bpd, half the oil block's eventual production. The second FPSO, Kaombo Sul, is still in Singapore. The $16 billion offshore project will add a significant amount of oil to Africa's number two exporter at a time when the nation is bound by output limits under a deal orchestrated by the Organization of the Petroleum Exporting Countries. https://www.vanguardngr.com/2018/03/glut-looms-buyers-reject-nigerian-crude/ cc Lalasticlala |
Crime / 2 LG Staff Hacked, As Rampaging Herdsmen Sack LG Secretariat In Ondo by Emekamex(m): 4:04pm On Feb 13, 2018 |
At least two staff of Akure South local Government were yesterday hacked when some men numbering over 30 suspected to be Fulani herdsmen invaded the secretariat and paralysed government’s activities by chasing away other council workers. Our correspondent learnt that the herdsmen gained entrance into the council secretariat from the back gate that leads to a swampy area being cultivated by some workers of the local government and attacked the staff . It was also gathered that the ongoing wedding ceremony at the registry of the council was also disrupted by the cutlass wielding herdsmen. Sources said the crisis started when a council worker in the Agriculture Department of the council, named Simon Johnson resisted the herdsmen from grazing on his vegetable farm behind the council secretariat. According to the source, Johnson was said to have told one of the herders who was grazing on his farm to leave his farm and move to another place for grazing. The source said, “This led to argument between them and the Fulani herdsman left the scene to mobilise his friends to attack the council. In the process, two of the workers of the council was macheted by the herdsmen. “ Members of the Nigeria Union of Local Government Employees who spoke at separate interviews with our correspondent at the premises urged the government to act on the matter. When LEADERSHIP visited the scene, workers, including the local government caretaker Chairman, Mrs. Margret Atere were seen running out of the secretariat for the safety of their lives. The workers vowed not to go back to their various offices until their security can be guaranteed. As of the time of filling this report the Commissioner of Police for the Ondo State command, Mr. Gbenga Adeyanju led men of his command to the secretariat to assess the situation. https://leadership.ng/2018/02/13/2-lg-staff-hacked-rampaging-herdsmen-sack-lg-secretariat-ondo/ |
Politics / Reps Kick Against 1.8 Billion Dollars Turn Around Maintenance On Refineries by Emekamex(m): 9:06am On Nov 23, 2017 |
The House of Representatives has criticised a bid by the Nigerian National Petroleum Corporation, NNPC to spend $1.8 billion on the maintenance of the refineries across the country. In a motion by Ibrahim Isiaka (Ogun - APC) at the plenary on Tuesday, he queried the viability of further expenditure on the country's four refineries and the daily allocation of 445,000 barrels of crude to the facilities as they perform poorly. "The House is cognisant that sums of $308 million, $57 million, $200 million, and lately, more than N264 billon were spent on refineries, yet it was reported that the NNPC is seeking $1.8 billion to carry out another TAM (Turn Around Maintenance) to make the refineries attractive to investors." He added that the federal government's efforts to bring in private investors to build refineries had not yielded the desired result. "Despite major paradigm shift and consideration of different reliefs, including reduction of licensing fee for new refineries from $1 million to $50,000 to make domestic refining attractive and reduce huge capital flight to fuel importation, only Aliko Dangote has put the licence to use. "No efforts have been made to revoke the licences given to individuals and corporate organisations to build refineries, which have yet to be utilised", he said. He noted that $20 billion had already been spent on TAM but without appreciable improvement in performance to justify the fresh expenditure. He added that Nigeria's refineries had the worst performance record in Africa at, "11 per cent, compared to the 81 per cent scored by Egypt and 85 per cent recorded by South Africa." The House unanimously also resolved to investigate and determine the current status of the four refineries. Nigeria, Africa's largest oil producer, imports most of its petroleum products for domestic use. The four refineries located in Port Harcourt, Warri and Kaduna have a combined capacity to refine 445,000 barrels of crude per day. allafrica.com/stories/201711230122.html cc Lalasticlala Mynd44 |
Politics / Botswana Police Ranked Africa's Best, Nigeria At Bottom Of Global Report by Emekamex(m): 4:15pm On Nov 09, 2017 |
Africa’s best police service is that of Botswana despite being ranked 47th best in the world. This is according tothe World Internal Security and Police Index (WISPI) released by two bodies, the International Police Science Association (IPSA) and the Institute for Economics and Peace (IEP). The index ranked the Rwandan policeas Africa’s second best (with global position of 50th) followed by Algeria (58th), Senegal (68th) and Tunisia (72nd) in that order.Completing the top 10 for Africa were, Egypt, Burkina Faso, Ghana, South Africa and Mali respectively. “WISPImeasures the ability of the police and other security providers to address internal security issues in 127 countries, across four domains, using sixteen indicators,” authors of the report stated. The four domains are, capacity, process, legitimacy and outcomes. Despite the failure of Africa to break into the top forty, the continent was very prominent in the lower rankings. Six African countries were in the bottom 10. Cameroon and Mozambique in the 120th and 122nd spots.Uganda, Kenya, the Democratic Republic of Congo (DRC) and Nigeria made it an African quartet at the bottom – occupying 124th to 127 slots respectively. http://www.africanews.com/2017/11/09/botswana-police-ranked-africa-best-nigeria-bottom-of-global-report/ 10 Likes 2 Shares |
Politics / Re: 81 Of Buhari's 100 Appointees Are Northerners (cut From Newspapers) by Emekamex(m): 9:12pm On Oct 29, 2017 |
GoroTango: Competent northerners like Babachir Lawal, Malami and Maina, right? 35 Likes 6 Shares |
Politics / Re: Nigeria’s Misery Index Worsens To 77.5% by Emekamex(m): 9:05pm On Oct 29, 2017 |
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Politics / Re: We Must Respect Privacy Of Looters – Lai Mohammed by Emekamex(m): 9:22am On Aug 07, 2017 |
Lai Mohammed should stop talking, abeg! He spews trash, whenever he opens his mouth. |
Politics / Power Generation Crashes By 1,835.6MW In Three Days by Emekamex(m): 9:17am On Aug 07, 2017 |
The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days. After reaching a peak of 4,282.6MW on August 2, 2017, power generation dropped to as low as 2,447MW on August 5, according to the latest data on the performance of the grid obtained in Abuja on Sunday. Power generation has continued to fluctuate for several months now, as operators blame the development on gas and frequency constraints. The recent power briefing from the Transmission Company of Nigeria stated that 1,651MW of electricity could not be generated as a result of frequency management constraint on Friday alone, which was due to loss of feeders of power distribution companies. It also stated that the reported gas constraint resulted in the inability to generate 505MW on the same day. However, further findings showed that electricity generation since the beginning of August had continue to hover between 2,387MW and 4,280MW. On Wednesday, data indicated that gas-fired electricity-generating turbines in seven stations across the country were dormant, a development that adversely affected power generation. The industry data showed that on August 2, all the hydro and steam power stations had at least one hydro or steam turbine that was functional. It highlighted three hydro power stations as well as three steam stations. But out of the 22 gas power generating stations that were captured in the report, seven had dormant turbines, and they were Afam IV-V, Alaoji NIPP, Olorunsogo NIPP, A.E.S, ASCO, Rivers IPP and Gbarain NIPP. It was also gathered that increased gas constraints to power-producing turbines was another reason why some of the machines were left dormant. The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, recently announced that electricity producers were owed over N500bn by the market, adding that this had made it tough for some of the Gencos to pay their gas suppliers. Ogaji had said, “For us to be able to procure gas, we need money. Gas companies are owed several billions by us. We are being owed nearly N600bn and we are owing gas companies nearly N200bn. “Most of them now say they cannot supply anymore until we pay. In fact, most of the companies like Shell and Total now do what we call pay-before-service. And since the market is paying us 29 per cent out of the expected 100 per cent, how do we pay for the gas? “Some of these power companies that you’ve heard about cannot put all their machines on, they will just select from maybe out of five machines; they will just put on two or one, depending on what you can pay for with respect to gas. That’s the situation and it is a precarious and pitiable state.” http://punchng.com/power-generation-crashes-by-1835-6mw-in-three-days/ |
Politics / Re: Finish Your Refinery Before 2019 – FG Begs Dangote by Emekamex(m): 8:56am On Aug 01, 2017 |
Dangote's refinery alone wont cater for the demands of petroleum products. More refineries are needed and should be in construction by now. |
Politics / Re: Picture: See Who Visited President Buhari In London. by Emekamex(m): 2:40am On Jul 10, 2017 |
This is an old picture, it is currently hot as hell in the UK. 5 Likes |
Politics / Re: Obasanjo Best President Nigeria Ever Had – Afe Babalola by Emekamex(m): 6:16pm On Jul 09, 2017 |
Oladimejyy: Whatever strokes your ego. It does not change my opinions. |
Politics / Re: Obasanjo Best President Nigeria Ever Had – Afe Babalola by Emekamex(m): 6:13pm On Jul 09, 2017 |
sarrki: It is quite foolish to tag every Igbo person you see as GEJ supporters. I do not have time to engage in tribal/party bash; I am just stating the simple truth about the competency of our past leaders. |
Politics / Re: Obasanjo Best President Nigeria Ever Had – Afe Babalola by Emekamex(m): 5:55pm On Jul 09, 2017 |
Lies Yar Adua was the best president by far. He maintained a stable economy and also provided peace to the Niger Delta, after Obasanjo tried to bring conflict in that region. He also was fair in distribution of appointments amongst regions. Nigeria would have been better if the subsequent presidents after him tried to better his efforts. |
Health / Re: All You Need To Know About Sudden Cardiac Arrest That Causes Death by Emekamex(m): 6:25pm On Jun 11, 2017 |
NLbully: Cardiac arrest and heart attack are not the same thing. People often use these terms interchangeably, but they are not synonyms. A heart attack is when blood flow to the heart is blocked, and sudden cardiac arrest is when the heart malfunctions and suddenly stops beating unexpectedly. A heart attack is a “circulation” problem and sudden cardiac arrest is an “electrical” problem. |
Politics / Re: Democracy Day: Share Your Assessment After 2 Years by Emekamex(m): 5:23pm On May 29, 2017 |
pressplay411: I highly doubt that votes where blocked. Buhari is unpopular in the SE, as people view him as a tribal bigot who will favour only his people. This was the notion of most people and that led to the low votes in SE and not because of blocked votes. The funny thing is that the notion people had about Buhari is continually being justified by the one-sided pattern of government by the present administration. |
Politics / Re: Democracy Day: Share Your Assessment After 2 Years by Emekamex(m): 4:41pm On May 29, 2017 |
pressplay411: I dont get you guys sometimes, what is the essence of democracy if everyone votes for one candidate for fear of marginalization? Democracy is a freedom of expression and people should not be punished for exercising their voters right. They will never be unity in the country if politics continues to be a "do or die" affair. |
Politics / Re: FG’s Borrowing Excessive — CBN by Emekamex(m): 3:45pm On May 24, 2017 |
I pity the future generation, life will surely be hell for them if things dont improve. 1 Like |
Politics / Re: Looted Funds: FG Seeks Extradition Of 311 Powerful Nigerians by Emekamex(m): 9:39am On May 24, 2017 |
It is better they are not near Nigeria, as we all know that there are high chances of them being acquitted in Nigeria either through politics or corruption. 2 Likes |
Politics / Re: Dwight Eisenhower And Muhammadu Buhari: The Paradox Of Two Sick Presidents by Emekamex(m): 9:15am On May 24, 2017 |
We cant be comparing politics of the 18th - 19th century to that of the 21st. It wont be possible today for a president to hide his ailment from the USA citizens and the same should likewise be applied to Nigeria. We should stop comparing apples and oranges, and trying to twist facts. |
Politics / Re: Buhari Went Abroad Because He Loves Foreign Doctors- Health Minister by Emekamex(m): 8:46am On May 24, 2017 |
If he has a relationship with foreign doctors, why did he ban medical tourism in the first place knowing he wont be able to keep such promise? He does not practice what he preaches, and this is the story of most Nigerian politicians. |
Politics / Boko Haram Beheads Four IDPs In Dalori-1 Camp, Maiduguri by Emekamex(m): 8:18am On May 22, 2017 |
Four internally displaced persons, IDPs, in Dalori-1 Camp of Maiduguri,Borno State, have been beheaded bythe Boko Haram, PREMIUM TIMES learnt. http://www.premiumtimesng.com/news/headlines/231761-boko-haram-beheads-four-idps.html
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Politics / Re: Igbos: The Second Class Citizens Of Yenagoa by Emekamex(m): 2:23am On May 22, 2017 |
I am getting tired of all this Igbo topics on nairaland. It is getting boring, one can hardly navigate pages without seeing a topic about Igbos. They are more important news topics that are not getting the needed attention like how was the 2016 spent and what projects were executed. 2 Likes |
Politics / Re: Gov. Ortom Of Benue State Empowers The Youth With Brand New Wheelbarrows by Emekamex(m): 2:37pm On May 18, 2017 |
Benue has never had it so bad. So, barrow-pushing is now a form of youth empowerment? God save us from these weak leadership. |
Politics / Power Supply Worsens As Nigeria Records Another System Collapse by Emekamex(m): 9:12am On May 12, 2017 |
The system collapse recorded on May 8, 2017 culminated in a significant drop in generation, transmission and distribution of electricity to many parts of the nation. www.vanguardngr.com/2017/05/power-supply-worsens-nigeria-records-another-system-collapse/
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Crime / 4 Nigerian Fraudsters Arrested In Canada (Photo) by Emekamex(m): 12:43am On May 11, 2017 |
Canadian authorities have showcased the expensive lifestyles of four Canada-based Nigerians who are alleged fraudsters. Reports claim that 45-year old Adedayo Ogundana (also known as Oladipupo Ogund), 37-year-old Adekunle Johnson Omitiran, 44-year-old Duro Akintola (also known as Michie Noah) and 47-year-old Emmanuel Salako (also known as Gee Salaq) are into credit card theft and mail pilfering. https://www.naij.com/1104017-the-lavish-lifestyle-nigerian-fraudsters-arrested-canada-photos.html
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Politics / Re: $43 Million Latest: Fresh Fears As Allegation Of Infractions Rocks Presidential by Emekamex(m): 8:04am On May 07, 2017 |
NIA would not have had a bad reputation if the useless director did not steal public fund. I am sick of all these childish politics of seeking public favour. |
Politics / Re: Why EFCC Was Not Allowed To Arrest SGF Babachir Lawal - Presidency by Emekamex(m): 8:49pm On May 06, 2017 |
Adesina did not make any reasonable statement. He is what we call a sycophant, making blatant excuses here and there when presented with facts. These sycophants are the reasons why this administration is performing woefully. |
Politics / Re: Obanikoro Meets Tinubu, Set To Join APC by Emekamex(m): 8:43pm On May 06, 2017 |
Nigerian politics is pathetic, to be frank. It is high time all these clueless politicians should be booted out of Nigerian politics, to allow sane heads control, fix and steer the country to the right direction. 2 Likes |
Politics / Re: President Buhari Has Difficulty Drinking And Eating - Sahara Reporters by Emekamex(m): 7:53pm On Apr 30, 2017 |
I pray he gets better but if he is incapacitated, then he should officially write to the senate and handover to Osinbajo like he did before. We dont want a situation where cabals will take advantage of the power vacuum. The worst looting in the present democracy actually occured during the Yar Adua - GEJ debacle; we can not afford a repetition of events. He might be undergoing a cancer treatment as they usually have side effects on the oesophagus, and hence the difficulties in swallowing food or drinks. Cancer.Certain cancers and some cancer treatments, such as radiation, can cause difficulty swallowing.http://www.mayoclinic.org/diseases-conditions/dysphagia/basics/causes/con-20033444 6 Likes 1 Share |
Politics / Re: Buhari Has Difficulty Drinking & Eating, Cabal Won't Let Him Travel 4 Treatment by Emekamex(m): 7:52pm On Apr 30, 2017 |
I pray he gets better but if he is incapacitated, then he should officially write to the senate and handover to Osinbajo like he did before. We dont want a situation where cabals will take advantage of the power vacuum. The worst looting in the present democracy actually occured during the Yar Adua - GEJ debacle; we can not afford a repetition of events. |
Politics / Re: NNPC Reduces Petrol Importation By 45% Victory by Emekamex(m): 2:45pm On Apr 30, 2017 |
From what I can deduce from this post, fuel importation only changed hands from NNPC to marketers and local consumption dropped due to economic difficulties; there isnt actually any improvement in our refining capacity, which is the only way that the petroleum sector will be self sustained. 6 Likes 1 Share |
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