₦airaland Forum

Akpos jumps from bed and starts shouting "God save me, save me, save me. The wife asked, did you have a nightmare? He says yes. The wife asked ask again, were you been chased by a lion? Akpos replied; lion is even better. I nearly voted for Buhari again.

Bloomberg - Oil Investors Are $240 Billion Poorer a Week After OPEC Call http://bloom.bg/1jSXN74

Investors around the world have seen $240 billion wiped off the value of oil companies in the week since OPEC sent crude prices plunging to a seven-year low by abandoning its output limit.


After the reggae Comes the blues

bigass:
Buhari did not alone kill NSE, Corruption in previous government also killed it.

This country is beyond remedy.

Canada Australia Here i come

No job in Canada or Australia better stay where you bcoz it's a global issue.

After the rain comes the sunshine.

http://leadership.ng/news/482602/dpr-suspends-capital-oil-others-petrol-import

The Department of Petroleum Resources (DPR) has suspended for three months fuel import permit of Capital Oil Petroleum Limited, Sahara Petroleum and Folawiyo Petroleum in Lagos for profiteering.

Other suspended companies are Samon Petroleum, Fynefield Petroleum, Calabar and Stalliionaire Petroleum Limited.

The DPR said in a statement that the companies sold fuel above government regulated price.

Besides, the DPR slammed the companies N10million fine for their action.

A statement signed by Mrs A.Y Ogan said: “The Petroleum Product Pricing Regulatory Agency(PPPRA) has been advised to revoke the companies allocation, while the Petroleum Pricing Marketing Company(PPMC) has been informed not to allocate fuel to the erring depots for the period of their sanction.

“The DPR has put in place all necessary machineries to curb all incidents of profiteering, hoarding and other unwholesome practices by operators.

“The public is hereby advised to shun panic buying and report any noticeable infraction to the Department of Petroleum Resources office nearest to you.”

Be greedy when others are fearful and be fearful when others are greedy -Warren Buffet.

I repurchased every single unit of my OANDO which I sold N11 in sept and even double my holdings xtaday @N5:40k.

WARNING!
This a game ONLY meant for those that can swim with the SHARKS.

*ThE OcToPuS*

http://www.cnbc.com/2015/12/08/3-reasons-why-oil-prices-will-stay-at-40.html

The strategist predicts that oil prices will remain at around $40 a barrel for this year and could slip to $30 a barrel next year as three fundamental drivers behind the market take hold.

(1)Saudi Arabia, will keep on pumping, if necessary for years in order to knock out U.S. shale producers which are simply not being knocked out,"

(2)On the demand side, Roche said that global markets will start to see a period of weakness with emerging markets, which used to waste oil enormously, getting more efficient.


(3)He added that the globe was also moving into the "digital economy," meaning further changes in demand as technology undergoes radically changes"Things like electric cars, autonomous cars, share cars, all the rest of it, means that we use less oil," he told CNBC.

Ecobank Plc has asked the Federal High Court in Lagos to declare industrialist Oba Otudeko bankrupt due to his failure to repay a N4.1 billion loan granted his companies. The bank claimed Otudeko asked and was granted various loans for his companies, namely Honey Well Flour Mills, Siloam Global Services Limited and Anchorage Leisures Limited.

http://www.newsbreak.ng/2015/12/ecobank-wants-court-to-declare-oba-otudeko-bankrupt-over-indebtedness/

Oba Otudeko is one of the major shareholders in both ECOBANK and FIRST BANK.

The AnalystNG& #8207;@TheAnalystNG 8m8 minutes ago
12:11PM @FirstBankngr sustains falling trend below N5, down by 0.64% to trade at N4.69 on strong negative sentiments- YTD LOSS is 47%


The truth is that if you have people working in the banks you will hear crazy tales of lifting money from the vault and giving out unsecured loans to collect percentages from the debtor into their private accounts.

With the wreck Onasanya has caused in FBNH you can't understand the peaceful retirement instead of an immediate sack for all those Oil and gas loans and CBN fines on TSA except there is massive collusion from all parties involved including those useless shareholder associations.

Nigeria as a country stinks and corruption has eaten so deep that most of these bankers are nothing more than common criminals. In fact in most banks you have to belong to a Confraternity to ascend above a certain level.

When you see foreign investors offloading GTB you really need to question the rationality of still being invested in Nigeria. We take greed to an inhumane level, it is almost as if we are beasts because how much does one need to truly enjoy life.

Educate your children and they will fend for themselves, why do we steal for seven generations unborn? Are we truly CURSED?

http://nairametrics.com/why-november-was-bad-for-nigerian-stocks/

November was an ugly month for Nigerian stocks as investors lost a whopping N569 billion in market capitalization. The All Share Index will close the month -6% lower and hold on to a year to date loss of N20.27%.

By the time the month was ended the market had gained for only 4 days this month leaving investors reeling and wondering if there will ever be any respite in sight.

Why the sell-offs?

According to Obinna Ajoku, research analyst at Algor Strategies, “November captured the very essence of the Nigerian capital markets in 2015; a country awakening to the rude reality of a sustained depression in the price of its most priced export-commodity. ” He maintains that the major driver for the sell-offs are “the continuous decline of the price of crude oil (which indirectly impacts the value of naira-denominated assets negatively) and the new economic team who carry a burden of proof of expertise in navigating economic storms on their shoulders.”

Another analyst and stockbroker with TRW Stockbrokers, Rasheed Momoh believes the sell-offs in November is largely as a result of an asset rotation during the month. “There was an asset rotation from the equity market to the bond market.”

Has the market bottomed out?

Despite the huge sell-offs been recorded most investors do agree that earnings multiples are in most cases at their historic lows. Unlike the crash of 2008, a lot of stocks faced sell-pressures even when they were though to be largely undervalued.

Nevertheless, they still view this market as one for the long term and courageous investors. “Any opportunities in the Nigerian capital markets require a very long term outlook and considerable resources of patience. And yes, there are opportunities here.

However, investors shouldn’t expect any sustained reversal of current trends yet.” Obinna affirms.

Those on the sideline that don't want to toy with their life and money should patiently wait and watchout for ALL SHARE INDEX hit between 20000- 22000 basis point before taking a dive.

The guns are yours

*ThE OcToPuS*

http://www.proshareng.com/news/Nigeria%20Economy/Another-decline-in-Federal-Reserves/29490

Data from the CBN show that official reserves decreased by US$276m in November to US$29.9bn on a 30-day moving average basis.

This compares with a loss of US$150m the previous month. The fall which was greater than that of the previous month was due to the rise in domestic demand for dollars.

http://www.punchng.com/?p=13884

As the global oil benchmark Brent crude on Monday fell to its lowest level in almost seven years, Nigeria and other countries that rely on oil revenues will take further beating amid supply glut in the market, experts have said.

Brent, against which Nigeria’s oil is priced, fell on Monday by $2.31 to $40.69 per barrel, its weakest since February 2009, while the US benchmark West Texas Intermediate was trading around $37 per barrel.

The further slide in oil prices came on the back of the decision by the Organisation of Petroleum Exporting Countries to retain production at the current level and a stronger dollar, which made it more expensive to hold crude positions.

angelo82:
This is where the job get tricky and is not about pulling it down more...............Is sick to have the ability of disseminating negative news especially if you have portfolio...................Is not easy for anyone with portfolio to always give pessimistic opinion and rejoice over negative news.............Only the people on the sideline can do such...............The issue is to focus and I believe things will change................What we are suppose to deliberate on here should be why CBN policy is not supporting banks...............Why not refund part of the penalty fee back to UBA,FBNH and Skye.............Is Emefele through Ovia trying to deal with some banks by pulling them down..............Different sentiments is affecting the market and that has complicated everything but I am certain about first quarter of 2016..............Most of the banks are now affected with the bears even GTB,Stanbic,Zenith.................Things will soon be ok and buying at this point is not a bad idea..................You need time to accumulate and is not only about the price but how many volumes can you buy at a go when it reaches your destination?..............

Bull make money,
Bear make money,
Pigs get slaughtered.

http://www.theguardian.com/business/2015/dec/07/opec-plan-kill-us-shale-oil-price-down-seven-year-low

Oil prices have slumped by 5% after the latest attempt by Saudi Arabia to kill off the threat from the US shale industry sent crude to its lowest level since the depths of the global recession almost seven years ago.

Signs of disarray in the Opec oil cartel prompted fears of a global glut of oil, wiping $2 off the price of a barrel of crude on Monday and leading to speculation that energy costs could continue tumbling over the coming weeks.

A barrel of benchmark Brent crude was changing hands for less than $41 a barrel in New York on Monday night after Opec – heavily influenced by Saudi Arabia – did nothing about a market already seen as saturated.

US light crude, which tends to trade at slightly lower levels than Brent, recorded similar falls, dropping from just over $40 a barrel to less than $38 a barrel.

https://next.ft.com/content/6cdbabbc-9cf3-11e5-b45d-4812f209f861

Oil fell to its lowest level in almost seven years as traders delivered their verdict on Opec’s failure to agree production cuts at a rancorous meeting last week.

Brent, the international oil marker, fell 4 per cent to $41.22 a barrel as the aftershocks from Friday’s marathon policy meeting reverberated around the market. A stronger US dollar also weighed on prices.

On the other side of the Atlantic, West Texas Intermediate, the US oil benchmark, fell more than 5 per cent to $38.06.

myjoy084:
Sir Peterichy, are you working in Oil Company? Because too much updates on this crude oil price!

Working in oil an company is not the issue here.

OIL is the life-wire of Nigeria economy and every wise investor must factor it as a major yardstick.

For over 6months I have been raising the RED FLAGS but some took it for granted.

Again let me chip this in.i know of 4 top Arab billionaires that have been into the oil industry for over 40yrs.

But this year they are all pulled their fund and retired because of the bleak oil future.

He that has ears let him hear.

*ThE OcToPuS*

http://www.cnbc.com/2015/12/07/opec-decision-to-keep-output-high-pulls-oil-prices-close-to-2015-lows.html

Brent crude fell to a more than 6½-year low on Monday after OPEC's meeting ended without a reference to its output ceiling and a stronger dollar made it more expensive to hold crude positions.

Brent crude, the globally traded benchmark, was down $1.10 at $41.90 a barrel by 9:28 a.m. EDT (1328 GMT), having hit the lowest level since March 3, 2009.

U.S. crude was trading at $38.63 a barrel, down $1.34, or 3.4 percent, and closing in on the 2015 low of $37.75.

http://www.theguardian.com/business/live/2015/dec/07/oil-price-opec-production-german-factories-live


Brent crude hits six-year low

Hold onto your hats, folks.

Brent crude, which is oil sourced from the North Sea, has just hit its lowest level since March 2009 as the oil rout escalates.

A barrel of Brent Crude is now changing hands at below $42 per barrel. That’s a drop of over 2.5%, or more than $1 per barrel.

Brent crude hits new 6 1/2 year low $41.895

That takes Brent down to levels not seen since March 2009, when the world economy entered recession following the collapse of Lehman Brothers.

US crude is now almost within a dollar of its 2015 low - the $37.75 per barrel hit in August. That was the lowest since December 2008.

http://www.bbc.com/news/business-35026287

The price of Brent crude is currently under $43 a barrel, down more than 60% since last summer, while US light crude is trading below $40 a barrel.
Oil prices have not been this low for more than 10 years.
And Total's Patrick Pouyanne "doesn't anticipate a recovery in 2016". In fact, he thinks supply will grow faster than demand next year.
He is not alone.

Last Friday,
Goldman Sachs put out a note suggesting prices could fall a lot further.

Yem0350:
Meanwhile, my entry point is #3.

Mind you FBNH might as well go bankrupt.

ALL SHARE INDEX 22000 basis point is not far-fetched after 2weeks of fire baptism.

*ThE OcToPuS*

[http://leadership.ng/news/481341/28-states-nigeria-technically-bankrupt-gov-ajimobi]

The governor of Oyo State, Senator Abiola Ajimobi, has raised the alarm that about 28 states in the country might have gone technically bankrupt.

http://www.dailytrust.com.ng/news/business/foreign-investors-shun-stock-market/123051.html

Withdrawal of foreign investors from Nigerian stock market has deepened as they invested N25 billion in the month of October.
The total foreign inflow in the month of October is the lowest investment by the investors since beginning of year 2015.

http://mobile.reuters.com/article/idUSKBN0TQ03V20151207

Crude oil prices dipped further on Monday after OPEC failed to agree on output targets to reduce a bulging glut that has cut prices by more than 60 percent since June 2014.

On Friday after a disagreement between Saudi Arabia and Iran meant that the group for the first time in decades didn't even mention an output quota, which previously stood at 30 million barrels per day (bpd).

U.S. crude CLc1 was trading at $39.57 a barrel at 0810 GMT, down 40 cents.

Internationally traded Brent futures LCOc1 were down 20 cents at $42.80 per barrel.

Chibuking81:
BITL PETERiCHY, he is back, is like he want to list his company in the Nigeria stock exchange market. Bro. Peter you are highly welcome.

Thanks

http://www.punchng.com/?p=13535

The naira crashed further against the dollar from 247 last Thursday to 251 on Saturday at the parallel market.

This came barely one week after the Central Bank of Nigeria cut foreign exchange supply to Bureau De Change operators.

The central bank had during its weekly forex sale to the BDCs last Wednesday refused to sell forex to operators that failed to render returns on the utilisation of previous forex bought at the official window.

The dollar was selling for between N241 and N243 before Wednesday’s decision. The local currency was still sells for 197 against the dollar at the official market.

Meanwhile, the nation’s foreign currency reserves dropped to $29.7bn on December 3, 2015, data from the CBN’s website showed on Sunday.

This is expected to put more pressure on the CBN’s bid to defend the naira and avoid a devaluation of the local currency.

The gross foreign exchange reserves had dropped to $29.92bn on November 30, the first time they fell below $30bn since July 13.

The reserves have fallen by 20 per cent since the end of June 2014, when Brent crude prices began a more than 60 per cent plunge, hammering the finances of Africa’s largest economy and biggest oil producer.

The naira has been fixed at 197-199 per dollar since early March after the CBN Governor, Mr. Godwin Emefiele, restricted banks’ access to foreign exchange.

[http://www.wsj.com/articles/as-oil-keeps-falling-nobody-is-blinking-1449446203]

The standoff between major global energy producers that has created an oil glut is set to continue next year in full force, as much because of the U.S. as of OPEC.

Some analysts see the potential for U.S. oil output to rise next year, even after Saudi Arabia and the Organization of the Petroleum Exporting Countries on Friday again declined to reduce their near-record production of crude. With no end in sight for the glut, U.S. oil closed on Friday below $40 a barrel for the second time this month.

Intendy:
OK.
but leave them to their fate.
TRUTH IS YOU ONLY MADE MONEY FOR YOUR BROKER.
AND YOU NEITHER MADE A PROFIT NOR LOSS

I should leave them to their fate while you don't want to leave me to my own fate.

Well always remember the 1st and 2nd RULES of the GAME.

edwardaigb:
l ve lose faith in you.

You've lost faith in me or OANDO?