PETERiCHY:
http://www.businessinsider.com/offshore-drilling-company-got-90-discount-on-rig-2016-4

If you want a perfect encapsulation of just how bad it is for the energy industry, we've got a story for you.

Ocean Rig, an offshore oil-drilling company, just got an incredible "going out of business" deal on a deep-ocean drillship.

According to maritime-industry blog gCaptain, Ocean Rig got a sixth-generation drillship that was worth up to an estimated $700 million in 2011 for just $65 million.

So Ocean Rig just got a 90.7% discount on a massive piece of equipment.

As gCaptain noted, Ocean Rig bought four of a similar type of rig from builder Samsung Heavy Industries in 2008 for $800 million each. The price for a barrel of crude at the time was as high as $140 — crude is now just above $40.

This isn't necessarily surprising. In an age when energy companies are becoming increasingly cost-conscious, offshore drilling is one of the most expensive types of drilling.

The seller of the rig, Brazilian firm Schahin Group, also tells a part of the energy industry story. The company is one of an ever increasing group of oil firms to go into bankruptcy and have to liquidate assets to survive.

So pretty much the read here is that the sale is a great deal for Ocean Rig, and another terrible sign for the industry.


OANDO/COP deal comes to mind. "Well Like i have been saying since last year, The Era of oil is dead and buried those that has ears let them hear"

*ThE OcToPuS*

veecovee:
why do u like consuming up to a page, each time u write...the worse is that most people do not like wat u write...sorry pls how old are u ? be sincere

iyb:

will the registrars accept the e-dividend form without them having his signature specimen ?

tunene66:


Mine was accepted

betcindy:
Good morning house.pls want to knw whether fbnh has been able to declare dividend for the year ended 2015

veecovee:
why do u like consuming up to a page, each time u write...the worse is that most people do not like wat u write...sorry pls how old are u ? be sincere

PETERiCHY:
http://www.cnbc.com/2016/04/25/saudi-arabias-government-officially-unveils-long-term-economic-plan.html?__source=newsletter|breakingnews

Saudi Arabia's government unveiled a long-term economic blueprint on Monday for life in a low-oil price world.
Titled "Saudi Vision 2030," the plan includes regulatory, budget and policy changes that will be implemented over the next 15 years in the hope of making the kingdom less reliant on crude. It aims to build a "prosperous and sustainable economic future" for the kingdom, according to the press release.

The plan said the country will raise its share of non-oil exports in non-oil GDP from 16 percent to 50 percent.
The planned economic diversification involved localizing renewable energy and industrial equipment sectors and creating high-quality tourism attractions. It also plans to make it easier to apply for visas and hoped to create 90,000 job opportunities in its mining sector.



Most oil producing nations has moved on While some are still praying for oil to rise. What an irony.

South African based Pick n Pay Stores Ltd. announced plans to enter Nigeria after posting a 26 percent increase in full-year profit.

The company said it agreed to partner with Nigeria Stock Exchange listed AG Leventis & Co. to enter the Nigerian market because of its over 90 years’ experience doing business in Nigeria.

“A key part of the group’s strategy is to establish a second engine of growth in markets in the rest of Africa,” the company said in a statement on Tuesday. Pick n Pay will hold 51 percent of the operation in Nigeria, “which will roll out a combination of large and smaller formats to meet consumer needs.”

Currently, South African retailers are experiencing weak domestic consumer confidence, a weak currency and rising interest rates. The central bank cut economic growth forecast for South Africa to 0.8 percent this year, the slowest pace since the 2009 recession.

While speaking to the press after the company’s year-end results, CE Richard Brasher said:

“The opportunity presented by Nigeria is well-known: a population of 180m, an economy worth US$500 billion, and GDP growth of around 5% a year. Some analysts forecast that by 2030 Nigeria could have 160m households with sufficient incomes for discretionary spending, and a consumer goods market worth more than US$1 trillion.

“The development of modern shopping malls since 2005 in a few major cities reflects rising incomes and changing lifestyle options enjoyed by middle class Nigerians. Existing formal players in this market have relatively little scale.

“Nigeria is a country and a market which Pick n Pay cannot ignore in its quest for long-term sustainable growth. The challenge of course is how to succeed in Nigeria. We can all point to examples which have not worked.

“I set three pre-conditions for success in the Nigerian market:

First, we need to understand local consumer needs and how these are evolving in the country. We have done an enormous amount of research on-the-ground over the past two years to get this right.

Secondly, given the complexities of the Nigerian market, we believe a joint venture with an experienced local partner is the right approach. I am delighted with our decision to enter Nigeria with AG Leventis, which has nearly 90 years’ trading experience in the country. AG Leventis has huge expertise in supply chain logistics from their activities in the FMCG, motor vehicle, logistics and real estate sectors, and notable FMCG capabilities through Leventis Foods.

Thirdly, as elsewhere in Africa, our growth must take place in a deliberate, planned, and unhurried way, without putting the business under undue risk.
“Leventis is a family business with a similar operating ethos to that of Pick n Pay and I am confident that we have the right decision, the right partner and the right plan.”

AG Leventis Group Executive Vice Chairman and CEO Michael Economakis said:
http://investorsking.com/south-africas-pick-n-pay-to-expand-into-nigeria/

PETERiCHY:
http://www.cnbc.com/2016/04/25/saudi-arabias-government-officially-unveils-long-term-economic-plan.html?__source=newsletter|breakingnews

Saudi Arabia's government unveiled a long-term economic blueprint on Monday for life in a low-oil price world.
Titled "Saudi Vision 2030," the plan includes regulatory, budget and policy changes that will be implemented over the next 15 years in the hope of making the kingdom less reliant on crude. It aims to build a "prosperous and sustainable economic future" for the kingdom, according to the press release.

The plan said the country will raise its share of non-oil exports in non-oil GDP from 16 percent to 50 percent.
The planned economic diversification involved localizing renewable energy and industrial equipment sectors and creating high-quality tourism attractions. It also plans to make it easier to apply for visas and hoped to create 90,000 job opportunities in its mining sector.



Most oil producing nations has moved on While some are still praying for oil to rise. What an irony.

9free:
ehmmmmm...... Mercy, Happy Baff Day o. Na vacation make me no wish you when others dey wish you. Network no dey for Mambila Plateau so no vex say I dey wish you now biko.

Who is holding FBHN results

ufotty2001:
among these two stocks will have a reversed impact when the results is out! FBNH and diamond bank excluding skye bank .. just like what happen to fidelity bank..

fxuser:
UBA wt +ve MACD
possible growing momentum
SP > 50dma

Same goes for FCMB
+ve trend change !
bye bye bottom


good signs

fxuser:


the 3 bank may release 2016Q1 along with 2015FYE , to calm any further bearish attacks ! !
really don't know , but looking fwd to FBNH .
Market has already priced in the potential bad news but you never know
we wait and see

Godisfaithful:
http://www.nse.com.ng/Financial_NewsDocs/13400_FBN_HOLDINGS_-_2015_AUDITED_ACCTS_FINANCIAL_STATEMENTS_APRIL_2016.pdf

PETERiCHY:
http://www.cnbc.com/2016/04/25/saudi-arabias-government-officially-unveils-long-term-economic-plan.html?__source=newsletter|breakingnews

Saudi Arabia's government unveiled a long-term economic blueprint on Monday for life in a low-oil price world.
Titled "Saudi Vision 2030," the plan includes regulatory, budget and policy changes that will be implemented over the next 15 years in the hope of making the kingdom less reliant on crude. It aims to build a "prosperous and sustainable economic future" for the kingdom, according to the press release.

The plan said the country will raise its share of non-oil exports in non-oil GDP from 16 percent to 50 percent.
The planned economic diversification involved localizing renewable energy and industrial equipment sectors and creating high-quality tourism attractions. It also plans to make it easier to apply for visas and hoped to create 90,000 job opportunities in its mining sector.



Most oil producing nations has moved on While some are still praying for oil to rise. What an irony.

Godisfaithful:
http://www.nse.com.ng/Financial_NewsDocs/13400_FBN_HOLDINGS_-_2015_AUDITED_ACCTS_FINANCIAL_STATEMENTS_APRIL_2016.pdf

Princkez:
how much dividend

Princkez:
how much dividend

Princkez:
FBNH.... 15k dividend

Princkez:
FBNH.... 15k dividend