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President Muhammadu Buhari in a phone chat with Saudi Crown Prince, Mohammed Bin Salman, have reviewed the current progress made on the OPEC+ deal. According to SPA, the Saudi news agency, both leaders spoke on Monday. Buhari and Salman also reviewed aspects of cooperation to enhance stability of oil markets, SPA added. Under the deal,…
June 30, 2020
By Kolawole Ojebisi Access Bank has offered to pay stamp duty charges for February to April on behalf of its customers. It also said deductions made between Saturday and Sunday would be reversed to customers. In a statement on Sunday, the bank said it recognised that it is a tough period for customers. This development…
June 29, 2020
Says Virus Spread Has Made Site Inspection Difficult For Operators, Clients Builder (Mrs.) Modupe Ndidi Ogunbanjo, Managing Director of BWC Real Estate, Lagos is The New Diplomat's real estate personality of the month. Ogunbanjo is a member of the Council of Registered Builders of Nigeria (CORBON); Secretary of the Building Collapse Prevention Guild (BCPG)…
June 25, 2020
President Muhammadu Buhari has cautioned that the ambition for Eco regional currency could be in ‘serious jeopardy,’ unless member states comply with agreed processes of reaching the collective goal. Delivering Nigeria’s position on the new regional currency at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African…
June 23, 2020
By Hamilton Nwosa (Head, The New Diplomat's Business and Data Tracking Desk) The International Energy Agency(IEA) based in Paris has projected that Oil demand may not recover to its pre-pandemic dynamics until 2022 at the earliest. According to the IEA, this projection is premised on oil surplus flowing around the world, a development that has…
June 17, 2020
Nigeria’s Minister of State for Petroleum, Chief Timipre Sylva has explained that the Federal government is determined to adhere to the resolutions agreed upon by both members of the Organization of Petroleum Exporting Countries (OPEC) and non-member countries of OPEC last Saturday to further extend the timelines for crude oil production cut. It would be…
June 8, 2020
The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of the postponement of multiple final investment decisions (FIDs) on projects and lower investments in offshore oil and…
June 8, 2020
OPEC+ (OPEC and Russia) are set to extend their record oil production cuts for a further month as oil recovers to near $40 a barrel, with the group attempting to prop up a market devastated by the coronavirus pandemic. In recent days, delegates from Opec and Russia had discussed extending the 9.7m barrels a day…
June 6, 2020
As Russia, Saudi Arabia, Nigeria, Algeria, Canada, Others Fail To Meet To Agree On Extending Output Cuts Oil prices dipped Thursday morning after hitting $40 per barrel on Wednesday as concerns mount over the prospect of holding a crucial OPEC+ meeting to agree on further oil output cuts among major producers. The oil cuts have…
June 4, 2020
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President Muhammadu Buhari in a phone chat with Saudi Crown Prince, Mohammed Bin Salman, have reviewed the current progress made on the OPEC+ deal. According to SPA, the Saudi news agency, both leaders spoke on Monday. Buhari and Salman also reviewed aspects of cooperation to enhance stability of oil markets, SPA added. Under the deal,…
June 30, 2020
By Kolawole Ojebisi Access Bank has offered to pay stamp duty charges for February to April on behalf of its customers. It also said deductions made between Saturday and Sunday would be reversed to customers. In a statement on Sunday, the bank said it recognised that it is a tough period for customers. This development…
June 29, 2020
Says Virus Spread Has Made Site Inspection Difficult For Operators, Clients Builder (Mrs.) Modupe Ndidi Ogunbanjo, Managing Director of BWC Real Estate, Lagos is The New Diplomat's real estate personality of the month. Ogunbanjo is a member of the Council of Registered Builders of Nigeria (CORBON); Secretary of the Building Collapse Prevention Guild (BCPG)…
June 25, 2020
President Muhammadu Buhari has cautioned that the ambition for Eco regional currency could be in ‘serious jeopardy,’ unless member states comply with agreed processes of reaching the collective goal. Delivering Nigeria’s position on the new regional currency at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African…
June 23, 2020
By Hamilton Nwosa (Head, The New Diplomat's Business and Data Tracking Desk) The International Energy Agency(IEA) based in Paris has projected that Oil demand may not recover to its pre-pandemic dynamics until 2022 at the earliest. According to the IEA, this projection is premised on oil surplus flowing around the world, a development that has…
June 17, 2020
Nigeria’s Minister of State for Petroleum, Chief Timipre Sylva has explained that the Federal government is determined to adhere to the resolutions agreed upon by both members of the Organization of Petroleum Exporting Countries (OPEC) and non-member countries of OPEC last Saturday to further extend the timelines for crude oil production cut. It would be…
June 8, 2020
The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of the postponement of multiple final investment decisions (FIDs) on projects and lower investments in offshore oil and…
June 8, 2020
OPEC+ (OPEC and Russia) are set to extend their record oil production cuts for a further month as oil recovers to near $40 a barrel, with the group attempting to prop up a market devastated by the coronavirus pandemic. In recent days, delegates from Opec and Russia had discussed extending the 9.7m barrels a day…
June 6, 2020
As Russia, Saudi Arabia, Nigeria, Algeria, Canada, Others Fail To Meet To Agree On Extending Output Cuts Oil prices dipped Thursday morning after hitting $40 per barrel on Wednesday as concerns mount over the prospect of holding a crucial OPEC+ meeting to agree on further oil output cuts among major producers. The oil cuts have…
June 4, 2020
