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Iran Oil Exports At Highest Level Since 2012

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The latest shipping data show that Iran’s exports of crude oil in August increased 15 percent from July and exceeded 2 million barrels per day (mb/d) – the highest level in almost five years.

Reuters quoted an unnamed source with knowledge of Iran’s tanker loading schedule that the country’s oil exports in August had reached as high as 2.11 mb/d. The figure, the source added, is almost double the volume for the country’s exports over the same period last year.

Iran’s crude exports in August climbed from 1.9 million bpd in June and 1.83 million bpd in July, Reuters added.

The Agency further emphasized that Iran’s oil exports currently stands at the highest level since 2012 and is close to the volumes of pre-sanctions years.

Iran’s exports of oil stood at 2.35 m/bpd before the sanctions were imposed against the country in 2011.  The sanctions restricted the country’s oil exports to around 1 m/bpd among other economic bans – already described by analysts as the toughest the world has ever seen.  They were lifted in January after a deal that Iran reached with the P5+1 – the five permanent members of the Security Council plus Germany – over the Iranian nuclear energy program became effective.

Read More: presstv

Wale Claims Kendrick Lamar Hasn’t Answered His Calls Since His First Grammy Nomination

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As Kendrick Lamar snatched eleven nominations, making him the most nominated hip-hop artists in a single year, Wale took to Twitter to respond to fans’ inquiries about the whereabouts of his Grammy acknowledgement.

During the conversation, one fan suggested that Wale and Kendrick go on tour, and the MMG rapper replied that K. Dot has allegedly been dodging his calls:

The assertion had the masses inquiring about whether or not Wale and Kendrick are on bad terms. Wale further raised eyebrows, by making a subliminal statement about his music, seemingly in comparison to that of Kendrick’s.

Credit: Vibe

Obasanjo, Yar’Adua, Jonathan Spent N2.74 Trillion On Power Sector Since 1999

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The successive regimes of former Presidents Olusegun Obasanjo, the late President Umaru Musa Yar’Adua and immediate past President Goodluck Jonathan committed N2.74 trillion to the troubled power sector in Nigeria.

The huge expenditure was disclosed by the Ministry of Power and the Niger Delta Independent Power Project (NDIPP) during the probe of spending in the sector by the Senate.

In his presentation before the Ad hoc Senate Committee on probe of power sector, the Permanent Secretary Ministry of Power, Ambassador Godswork Ighali said a total of N1.1 trillion was released for power project within the period under review.

He disclosed that for power projects, the Federal Government appropriated a total sum of the sum of N1.56 trillion, less the releases to the NIPP.

According to him, the amount represented a release of N948.2 billion and the sum of N155 billion as subsidy to cushion the expected shortfall in the revenue flow for the power projects.

Also giving account of spendings by the NIPP within the period, the Managing Director, Mr James Abiodun Olotu said the sum of $8.234 (N1.640) was spent on power generation, distribution, transmission and gas plants.

Details On: dailytimes