₦airaland Forum

LordAdam:
I'm sure they will and Saudi Arabia is an ally, so I don't see how the US government would not let such a deal come about. The energy sector in the US is bleeding, jobs are getting lost, companies are in the red, stocks are falling, loans are getting bad, and proposed investment in the sector are getting cancelled. Capitol Hill needs this cup to pass over as much as Caracas does.

-Lord

Ok. True.

LordAdam:
One problem is that when we say the US, we are actually referring to tens or hundreds of producers. Some of them can afford to take more hit, others not so much. So it's not actually one entity or united voice, like Saudi versus Russia.

If the US shale oil producers can come under one voice and call out Saudi Arabia for a pact, I'm 80% sure Saudi Arabia will at the very least agree to sit with them for talks. Everyone is feeling the neg effects of the drop in oil price, including Saudi Arabia, and most US shale producers. If there's a good deal on the table, there's no reason why any party would want to back out. It's pure business!

-Lord

LordAdam did you think U.S.A government will sit down and watch you operating under it soil without getting involve.

Sorry bro American government are not stupid.

LordAdam:
I think OPEC can single-handedly change the turn of the price of oil. That's why I am keeping my hands crossed until June this year when they have a general meeting.

Most of OPEC's big sellers are Iran's political enemies, so a pact there is almost impossible. Saudi Arabia let the oil price slide this far because of the USA and the US shale oil producers are hurting bad as it seems. So, if Saudi Arabia and USA can work out a deal, I'm sure OPEC will unilaterally agree to cut output by June, which will be the much needed push to get the oil price pointing northwards.

-Lord

Wow nice. But don't you think Saudi is skeptical of US. in this matter.

LordAdam:
Use your brain. Saudi Arabia and Russia agreed to freeze output to January levels. What I am saying is that Saudi Arabia/OPEC, Russia and US should have an agreement to freeze output, and oil price will increase. Regardless of the output levels from Iran.

-Lord

I understand bro but making a pact with USA is skeptical this time.

OPEC should make a plan with her members and non members including resent lifted sanction Iran.

As for USA hmmmml can't say more.

LordAdam:
OPEC needs to get the US on board. If OPEC, Russia, and the US are on one side, the price will rebound regardless of the output volume from Iran.

Let's all wait until June. If OPEC does not decide unanimously on a cut by then, I pity Nigeria's economy.

-Lord

You typed OPEC to do what with USA, bro its seems you arw not following the news.

What made price of oil to crash at the international market.

Bro it Shale oil (U.S.A oil)

Read Nairausd.com often for news.

Nice post. But why is it that Viviangist always hit the FP.
What is the secret.

MAY GOD HEAL US. APC fraudulent party

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.

Wow nice.

Exchange Rate for B Pound-Naira,25th Thursday February 2016
http://www.nairausd.com/2016/02/exchange-rate-for-b-pound-naira25th.html?m=1

Exchange Rate Of Dollar To Naira,25th Thursday February 2016
http://www.nairausd.com/2016/02/exchange-rate-of-dollar-to-naira25th.html?m=1

Exchange Rate Of Dollar To Naira,25th Thursday February 2016
http://www.nairausd.com/2016/02/exchange-rate-of-dollar-to-naira25th.html?m=1

Iran has already increased oil exports by 500,000 barrels per day since sanctions have been lifted, and now it’s looking at an additional 250,000 bpd when it ups production in another oil field by the end of this year.



Iranian Minister of Petroleum Bijan Zangeneh has said that the country plans to raise crude oil production from the North Azadegan oil field by 250,000 barrels per day by late 2016, according to Iran’s official Petro Energy Information Network, Shana.

Finally, Iran is expecting to sign up to $15 billion in new petroleum contracts by 2017, according to the managing director the National Iranian Oil Company (NIOC), Rokneddin Javadi.

“Some countries that are producing above 10 million barrels per day (bpd) have called on Iran to freeze its production at one million bpd,” Zangeneh was quoted by Press TV as saying, with the Iranian news agency hinting that it was a clear reference to Iran’s nemesis, Saudi Arabia.

“This is more like a joke that they tell us they would freeze their production above 10 million bpd and that we should also in turn freeze our production at one million bpd,” he told an energy panel in Tehran.

At a Doha meeting early last week, two of the world’s largest producers—Saudi Arabia and Russia—along with Venezuela and Qatar agreed to freeze oil output at January levels in order to stabilize the market. It was a lackluster deal that required other major producers to follow suit.

Earlier this week, Iran rejected any possibility that it would freeze output to January levels, though it initially said it supported the plan but would not commit to a freeze itself.

Read more: http://www.nairausd.com/2016/02/iranian-oil-minister-calls-opec.html?m=1

Twitter@nairausd

Clone2020:
That's foolish, I sell it to those who can afford it, wouldn't be the first time.

Sorry if what I typed is confusing. What l meant is are you selling it to buyers

Action speak louder than words

Clone2020:
Nope.

Ok you sell it yourself.

THE Federal Government has said that the novel price modulation mechanism currently in place will ensure that it records zero expenses on fuel subsidy in 2016.



The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Emmanuel Ibe Kachickwu, said this last week, at the 45th Convocation Lecture of the University of Nigerian Nsukka, Enugu State.

He spoke under the theme: The Petroleum Industry and the Future of the Nigerian National-Oil Resource Management and the Implication for National Security & Economic Survival.

Kachikwu said the zero fuel subsidy will be sustained based on prevailing modified pricing template for petroleum products, which has eliminated extraneous cost elements.

According to him, “Without necessarily removing subsidy the government will spend zero amounts in subsidy in 2016. This may sound unbelievable to some people but that is part of the change agenda of the present administration of President Mohammadu Buhari.”

He also disclosed that large chunks of vandalised pipelines are being recovered which will supply more crude to the refineries.

The Minister enthused that despite the difficulties of yester-years, the oil and gas industry in Nigeria is primed for greater achievements in the months and years ahead as a result of landmark reforms being engendered and activated by the present administration.

Kachikwu outlined the central objective of the ongoing oil and gas reform agenda to include:

*increasing revenue for the country through sales of petroleum and petroleum products and taxes on profitable enterprises;

*maximising value added on the crude oil and gas to establish linkages with other sectors through local processing;

*establishment of gas based industries thereby stimulating economic growth and development, and;

*providing employment opportunities for Nigerians.


Source:http://www.nairausd.com/2016/02/fg-forecasts-zero-fuel-subsidy-in-this.html?m=1

Exchange Rate Of Dollar To Naira,24th Wednesday February 2016
http://www.nairausd.com/?m=1

Exchange Rate for B Pound-Naira,24th Wednesday February 2016
http://www.nairausd.com/?m=1

Exchange For Euro To Naira, 24th Wednesday February 2016
http://www.nairausd.com/?m=1

Pavore9:
Blocking wastage is what we desire.

For creating new once for his SAINT.

Remember fraudulent budget.

tomakint:
I will be the happiest if this news is anything to go by.....***waiting patiently for confirmation*** security votes running into trillions of naira across boards annually is a rape on our democracy and gross violation on the rights of innocent Nigerians living below $1 per day. I love this news provided it is true

No lie what about the fraudulent budget.

Kenai:
Dear, we've already seen that criminal budget, and their thieving schemes have been laid bare. This bovine excrement they're pushing now is only the kind of propaganda that would appeal to their gullible and unintelligent sycophants.
In a budget where you have 10bn naira criminally hidden in the Education Ministry's budgetary division while coming out on SaharaReporters to pat yourself on the back for openly 'scrapping' 2bn naira, have you exactly fooled anyone?
In a budget where you inflate every inflatable figure (including cable installation of the driver's house) while shamelessly still putting up your FAILED and PHONY "prudence" act, who are you fooling?

Oh, and I see they still didn't miss attaching GEJ's name to their propagandist babble as usual. Almost a year into your administration and you're still playing opposition politics.
These dunces are truly bereft of ideas

Na their way.

But bro no vex, according to ogas at the top.

YOU DON' BLAME GEJ TODAY FOR YOUR BAD THING.

Gerryboy:
APC re not tried of dis there blame game. Turn 2 ur Neighbour nd ask him or her if he has blame jonathan today

I support this but what annoyed me is the continous evil blame game on GEJ.

Can't for once this PARTY stoo this nonsense.

Oh! Oh! I forgot All APC members are SAINT.

Beehshorp:
Okorocha is a shame to southeast so Imolites please kick dis man awta power

True yarn

In short the man be like disease.

Cmiller:
please my dear try to understand we are on 4years static break, so while bubu is flying around dont be surprise to see our politicians taking selfies

Kai! My people this guy is wicked.

Beware of him.

Cholls:
my brothers and sisters you see the way they want to corner Mr president..........African leaders must be very careful in seeking help/support from other continents.......cuz they never mean well for us........you can see the so called power house of the world(USA) show this wicked driven hands of fellowship to Africa in exchange for our resources.

Let's stop the mediocratic behaviour of U.S.A.

Africa should learn how to move forward without blaming others for their woes.

This is maturity.

Pavore9:
Nigeria is not an Islamic state, so that is in the right order.

Thank you bro.

Welcome development but to me government shouldn't use this as a show to the world as an achievement.

SirJeffry:
The arrangee PHDs y0rubas get in schools with all their impersonations, the 1gbos get in onitsha main mkt and Alaba plus the natural PHD from Baba God.

Wait and watch Americans beg us for foreign aid when the likes of Peter Obi become Nigeria's President.

Guy stop this tribal nonsense for once but as for Mr Obi part well done.

Keneking:
There is something Buhari knows that this business man know as well.

Or there is something that PMB don't know that businesses man know.

I this is the correct statement

ladyF:
We are the very architect of our failing economy. And this same man will open his mouth to be condemning polithiefians.

It's [size=15pt]LadyF[/size] again

Thank you sis.