Newswatch: Nigeria Oil & Gas News as Reported 9th February

The fall in the price of oil has continued to affect the economies of many petroleum producers and Nigeria is no exception. Industry analysts predict a rough year ahead for all oil producing countries.The crude prices have fallen to below $35 per barrel and hoovers between $29 – $33 per barrel.
Bismarck Rewane, chief executive of Lagos-based advisory firm Financial Derivatives Co., reportedly said, “Impact of fall in oil price is, to put it mildly, catastrophic, in the sense that, in terms of magnitude, huge, in terms of preparedness to deal with the magnitude, totally ill-prepared.”
In The News This Week:
NNPC Spent $4.13billion on Funding JV Cash Calls in 2015
Cultists Blow Up Agip Pipeline, Demand Release of Suspect
We can’t identify true owners of oil blocs, assets — NEITI
Osinbajo assures on passage of PIB into law
Oil firms flared N163bn gas in 2015
EFCC: We’re Investigating Ex- Finance, Petroleum Ministers, Kola Aluko
Oil Bunkering: Court Orders Arrest of Escaped Russians
Nigerian Navy Foils Hijack of Maersk Ship, Rescues 25 Foreigners
Bothered by Executive Delay, N’Assembly Plans Version of PIB
Source: Media
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