Tag Archives: Increased

Nigeria Records Increased Oil Output Ahead OPEC Production Cut Talks

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The Organisation of the Petroleum Exporting Countries agreed in September in Algiers to trim production but the accord still has to be finalised on November 30 in Vienna.

In its November monthly report, OPEC said that its 14 members pumped 33.64 million barrels a day (mb/d) in October, 236,000 barrels more than in September.

Saudi Arabia’s output fell 51,700 bpd to 10.5 mb/d but Iraq and Iran, the next biggest producers, registered increases, as did Libya and Nigeria, the report said.

Iran, Saudi Arabia’s arch foe, in particular is keen to keep the taps open following the lifting of international sanctions under last year’s landmark nuclear deal.

The OPEC report chimed broadly with figures released Thursday by the International Energy Agency, which put cartel output at 33.8 mb/d.

The IEA said this was “well in excess” of the 32.5 mb/d to 33.0 mb/d range agreed by OPEC in September.

“This means that OPEC must agree to significant cuts in Vienna to turn its Algiers commitment into reality,” the IEA added.

The September agreement lifted oil prices but they remain hovering at around $45 per barrel.

On Friday late morning Brent North Sea was trading at $45.44 in London, down $0.40 from Thursday. West Texas Intermediate (WTI) was down $0.57 at $44.09 on the Nymex.

Credit: AFP

Minister Of Defence Promises Increased Funding For Military

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 The Nigerian government has promised to provide the critical needs for the military to carry out its constitutional duties.

The Minister of Defence, Mr Mansur Dan-Ali, made the pledge on Monday in Abuja.

Mr Dan-Ali explained that besides infrastructures, the government was poised to invest in the much needed operational platforms, hardware and equipment, human capital development and professional military education.

The Minister made the promise at the commissioning of the permanent site of the National Defence College.

The event threw up issues of the importance, with focus on a better financed military.

The Minister of Defence further commended the National Defence College for the giant strides and reemphasised that the government would provide more funding for the military under the present administration.

He also promised to ensure that the permanent site of the Defence College would be completed in the shortest possible time.

Credit: ChannelsTV

PDP Claims Violations Have Increased Since Buhari’s Election

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The People’s Democratic Party (PDP) has alleged intimidation, harassment and undue persecution of the party members since the conclusion of the Presidential election. All Progressives Congress (APC) candidate, Muhammadu Buhari, won the election held on March 28/29.

The allegations of abuse were made in a communiqué issued at the end of the inaugural meeting of the party National Working Committee (NWC), Governors and Senators-Elect on the platform of the party at National Secretariat, Abuja.

The communiqué, which was read on behalf of the meeting by Senator George Thompson Sekibo, also frowned at the “shameless undemocratic ways” and means being displayed by the outgoing APC lawmakers in Ekiti State towards effecting an unconstitutional change in government.

It warned that APC was planning to use the tribunals and Salamic arrangements to truncate and subvert the freely given mandate by the people in the states and constituencies.

The party expressed deep concerns at the plans by the APC to make the country a one-party state using crude and underhand, undemocratic practice and thus reverse the gains of the PDP led administration.

It congratulated all the winners on the platform of the PDP in the elections and urged them to discharge their duties and form a formidable opposition that could redirect the fortunes of the country and sustain the gains of the present democratic era led by President Goodluck Jonathan.

The party also stressed the importance of unity, peace and harmony in the party for effectiveness in its new role and warned that it will not condone agents of APC working as “fifth columnists” to destabilize the leadership of the party.

It commended President Goodluck Jonathan for his statesmanlike disposition in the sustenance of democracy and peace in the country and also commended all members of the party for their unflinching support and belief in the party even in the face of intimidation, pernicious violence and untold harassment.

The party assures all members of the party across the country of adequate protection in the exercise of their democratic franchise always.

Credit: CAJ News