*The loan is the Bank’s initial response to help mitigate the slump in oil prices and its impact on the national economy ABIDJAN, Ivory Coast — The Board of Directors of the African Development Bank on Friday approved a $288.5 million loan to help Nigeria tackle the COVID-19 pandemic and mitigate its impact on people […] The post AfDB approves $288.5 million for Nigeria COVID-19... ... Read the whole entry »
RIO DE JANEIRO — Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap. The cost worldwide: An estimated $104.5 billion by 2030, according to […] The post Underperforming offshore wells rack up... Read the whole entry »
OpeOluwani Akintayo Lagos — Nigerian Senate on Tuesday increased the oil benchmark in the country’s 2020 national budget by $3 upon seeing that International Brent had hit $38 per barrel on Monday. The upper chamber made an increase in the oil price benchmark to $28 on hope that Brent would reach $40 per barrel soon. […] The post Nigeria increases oil benchmark by $3 as Brent... Read the whole entry »
Mkpoikana Udoma Port Harcourt — The presentation, approval and commercial close of the procurement process for the development of Ibom Deep Water Port, IDWP, by the Federal Executive Council, is currently the next stage of the project. Recall that Bollore and Power China emerged the preferred bidder for the deep seaport development, following the bidding […] The post Procurement... ... Read the whole entry »
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