Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under.
In his motion, Ogun said he was informed that as of 2002, the NNPC purchased crude oil at international market prices, which stood at 445,000 barrels per day.
Nigeria earned about N2 trillion from the latest round (2020/2021), as each of the awardees paid a total of N48 billion for fees and bonuses to earn the licence.
CHGC is majority owned and controlled by Axxela, which delivers natural gas to over 185 industrial and commercial customers via its gas infrastructure network across cities in Nigeria including Lagos and Port Harcourt.
The duo, Chucorl Nigeria Limited, and Ade De Young Auto Limited who met and exceeded the set target in the distribution of OLEUM lubricants were awarded OLEUM branded trucks at the ceremony.
Nigerian cities have repeatedly been plunged into darkness as the electricity grid has reportedly collapsed at least three times in 5 months, and 130 times in 7 years.
The Ad Hoc committee was mandated to investigate the Oil Mining Lease (OML) granted to SPDC between 1959 to 1989, and 1989 to 2019 under the SPDC and NNPC Joint Venture agreement.
Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under.
The Authority in a statement, explained that the Authority paid N71,233,712,991 bridging claims and another N2,736,179,950.84 freight differentials to the Marketers as at 6th June, 2022
In his motion, Ogun said he was informed that as of 2002, the NNPC purchased crude oil at international market prices, which stood at 445,000 barrels per day.
