Nigeria recently lost its biggest customer as US shipped its crude oil to texas

The first shipment of crude oil to an overseas buyer from the United States has departed a Texas port, just weeks after a 40-year-old ban on the export of the country’s crude was lifted.


The Theo T tanker on Thursday left NuStar Energy LP’s dockside facility in Corpus Christi, Texas, along the western shore of the Gulf of Mexico, Mary Rose Brown, a spokeswoman for NuStar, said in an e-mail, according to Bloomberg.

The ship was said to be carrying a cargo of oil and condensate to Italy from ConocoPhillips’s wells in south Texas that was sold to Swiss trading house Vitol Group.

A campaign by oil explorers including Continental Resources Inc., Chevron Corporation and Exxon Mobil Corporation to lift the 1970s-era export prohibition culminated in a congressional decision to end the ban.
Vitol, which owns stakes in refineries from northern Europe to Australia, has a second cargo of US-sourced crude scheduled to depart a Houston port within days.

Industry experts have said Nigerian crude oil, which has been struggling to sell in reticent months, may suffer further setbacks in the global market following the lifting of the ban on US oil export.

The US Congress had on Friday approved the lifting of the ban on December 18, as part of a $1.1tn spending bill, which includes a provision that would allow the export of US crude for the first time in more than 40 years. The bill was later signed by President Barack Obama.

Congress, concerned about US dependence on imported oil, imposed the crude oil export ban in 1975 after the Arab oil embargo of the early 1970s that sent gasoline prices soaring and contributed to runaway inflation. Arab members of the Organisation of the Petroleum Exporting Countries imposed the embargo following the US decision to re-supply the Israeli military during the 1973 Arab-Israeli war.

Nigeria recently lost its biggest customer, the US, which now buys only a small amount of Nigerian crude oil due to the dramatic rise in domestic shale production.

The growth in US light, sweet crude oil production has resulted in a sizable decline in US imports of crude grades of similar quality, such as Nigeria’s crude oil.

The sustained decline in crude oil prices since June 2014 has exacerbated the dwindling fortunes of the Nigerian crude, with the nation’s crude differentials trading at 10-year lows.

A lot of Nigerian crude are said to be currently floating on ships with a significant amount finding homes in storage tanks rather than in refineries as a result of the supply glut, which is dominated by largely light sweet crudes, in the global market.

Noting that the US lifting of export ban would impact on the market, Iledare said, the Director, Emerald Energy Institute, University of Port Harcourt, Prof. Wumi Iledare, “Things like this will help Nigerians to understand that they should think of oil and gas not only as a source of income, but as a source of energy to drive the economy. Money that we earn from petroleum cannot drive our economy, energy from petroleum will drive the economy.”

MY SON WILL NEVER APOLOGISE TO BUHARI —KANUS’ FATHER

FATHER of detained Biafran activist, Nnamdi Kanu, His Royal Majesty, Eze Israel Kanu, has denied reports that his detained son has apologised to President Mohammadu Buhari for

allegedly referring to him as a terrorist.

Also, the Indigenous Peoples of Biafra, IPOB, dismissed the same report, saying that their leader had at no time apologised to President Buhari.

Similarly,  Movement for the Actualization of the Sovereign State of Biafra, MASSOB, has described as completely false, the calculated and systematic attempt by agents of Federal Government to discredit IPOB and MASSOB with the claim that Kanu has apologised over his comments against some Nigerians.

MASSOB leader, Mr. Uchenna Madu, in a statement, said, the news in the media that Nnamdi Kanu had apologised to Buhari was a complete falsehood and a calculated and systematic attempt by agents of the Federal Government to discredit, disorganize and frustrate the agitation for actualization of aBiafran State.
Eze Kanu said his son’s alleged apology was the handiwork of the enemies of the struggles for Biafran emancipation, pointing out that his son had never regretted his actions in the cause liberating his marginalized people.

According to the monarch, who spoke with newsmen in Umuahia, Abia State, his son could not have apologised to anybody since he was fighting a just cause and has not violated any law to warrant any apologies to anybody.

Fabrications
Eze Kanu said, however, that he was not surprised at such fabrications, and maintained that he would never advise his son to give up his fight for a sovereign State of Biafra since it was the wishes of the people.

He reinforced his unflinching support for his son, who he noted was championing a just cause. He advised leaders to stop trying to project his son in bad light through the internet, and accused some media houses of collaborating with the Federal Government to portray his son in a bad light and also frustrate the agitation for independent Biafra.

He appealed to President Buhari to free his son, insisting that his son has done nothing to warrant his unlawful detention even against the judgments of courts.

IPOB in a statement, yesterday in Umuahia through its spokesman, Emma Powerful, dismissed the media report as “a blatant lie and cheap propaganda by its sponsors to create the wrong impression that Kanu is backing out of the Biafran project.”

IPOB accused the Federal Government of planting the said report to dampen the morale of Kanu’s followers and other Biafran agitators.

Tissue of lies
“It is an insult to the entire Biafran Republic for anyone to expect any apology from Kanu over his activities towards facilitating Biafra’s autonomy. The purported report that Kanu had apologised to Buhari over Biafra is not only a tissue of lies but a lame attempt by the enemies of Biafra to cause disaffection among the agitators.

“This latest trick is nothing but part of the grand design by the Federal Government to blackmail our leader and weaken the confidence of IPOB members in him.

“We are not surprised at this concocted trash because government is already intimidated by Kanu’s rising popularity and following among the good people of Biafra. Kanu will rather prefer to die in detention than apologise to anybody over his efforts to actualize self-determination for the oppressed people of Biafra,” it added.

Also, IPOB National Coordinator, Mr. Chidiebere Onwudiwe, dismissed the publication, describing same as “the machinations of the Department of State Service, DSS, to save its face having been disgraced by the courts with granting of Kanu bail.

“The publication was totally false and should be ignored by the public. No amount of intimidation, harassment, torture, killings, arrest and blackmail can make Kanu apologise for anything.  Nothing will ever make us to stop the agitation for the actualization of Sovereign State of Biafra.

“DSS is not sincere, if they have respect for the constitution of Nigeria, they would have released Kanu as directed by the courts, instead, they are looking for new charges to jail him, but they will fail again, as they have discovered that they will not make any progress in their quest to jail Kanu. They are now looking for soft-landing to chicken out of the case with the claim that Kanu is apologising, a claim that does not hold water.”

IPOB urged media to beware of the false claims by DSS, saying that “Kanu is not disturbed in any way over his long incarceration, his spirit is very high and he will be received like a hero he is, any day they are tired of holding him and decides to release him.

“Kanu is in detention for us, we are here for him, DSS should stop embarrassing itself with the false information they are churning out to the public. If they are honest in what they are claiming about Kanu’s apology, they should publish the copy of the said apology as an advert in the newspapers so that the world can see. If they say they culled it from the statement he wrote in DSS detention, how then did it become an apology to people.”

Madu added: “The agitation for the actualization of Biafra has gained international prominence and sympathy even before Nnamdi Kanu’s arrest and detention, and his current detention has further strengthened the agitation, so this latest move and campaign of calumny by enemies and oppressors of Biafrans is a sign that they are jittery, frustrated and are afraid of the fast rising and global acceptance of Biafrans struggle for actualization of state of Biafra.

A true Biafran
“MASSOB and IPOB shall never be discouraged, frustrated, disorganized, dislocated or relent on the non-violent Biafran actualization because of this false statement credited to Nnamdi Kanu. Mazi Kanu as a true Biafran can never compromise the integrity, confidence and trust of Biafra freedom fighters no matter the condition, subjection or oppression by DSS and Nigerian government.

“This Nigerian Government latest move to discredit IPOB and MASSOB has propelled us to redouble our efforts and strategies on Biafra agitation, we shall intensify our non-violence approach as MASSOB and IPOB march ahead for Biafra actualization.”

Also,  human rights activist and Archdeacon of Oyi Anglican Archdeaconry in Anambra State, Venerable Joseph Nweke has advised President Buhari to release Nnamdi Kanu without further delay.

He said Kanu’s continued detention due to  disobedience to court orders could be likened to the Biblical Pharoah, who refused to allow the Israelites to leave Egypt and also the Biblical St. John, the Apostle, who could not be killed by the enemies, even after they threw him into hot oil.

 Wrath of God
Venerable Nweke, who spoke at St. Mark’s Anglican Church, Ogbunike in Oyi Local Government Area of Anambra State, during a church service to mark St. John the Apostles Day, specifically called on Buhari not to harden his heart to avoid attracting the wrath of God like Nebuccadnezzar did and was turned into a beast as a punishment.

Nweke, who is also the Director of Civil and Political Affairs, Anambra State chapter, said he had gradually followed the charges preferred against Kanu logically and came  to a conclusion that he did not do anything to warrant his continued detention against all the orders of various courts of competent jurisdiction.
He contended that even if Kanu had a case to answer in the law courts, he should first be released from the detention while his trial in court continued.

“This is a voice of reason. I foresee a situation where God visited His anger on Buhari if he failed to release Kanu from the detention. So, I am advising Mr. President to release him in order to escape that wrath,” he said.

Nigerian Information Minister Ask Media Not to Report Terror attack

 

The Minister of Information and Culture, Alhaji Lai Mohammed, on Tuesday urged the media not to glamorize attacks of the Boko Haram sect.

 

Mohammed spoke during a courtesy visit to the headquarters of the Punch Nigeria Limited in Magboro, Ogun State, reported the News Agency of Nigeria (NAN).

Mohammed has come under attack after declaring that Boko Haram had been “technically” defeated. Many have blamed his premature and inopportune statement for the wave of multiple attacks and suicide bombings by the sect in Borno and Adamawa States during the Christmas holidays, resulting in the deaths of scores of people.

Mohammed appealed to the media in the country to be more restrained in their reportage on Boko Haram attacks.

“When we glamorize the attacks, it gives the terrorists more life, and in a time of insurgency like this, the media also has a role to play, which is not to glamorize the attacks.

“Publicity is the oxygen that any insurgent or group uses to survive; we are not saying that you should not report what is happening.

“We do not intend to censor, interfere in your sense of judgement or editorial.
“We believe in times of war, the media should know that it has to be on the side of the country,” he said.
The minister said that reports in the media were giving the public the impression that government was losing the war on terrorism.

Mohammed maintained that the federal government had met the December deadline on terrorism.
“I think the military has largely succeeded in wiping out Boko Haram,” he said.

The minister said that isolated bomb attacks on soft targets should not be confused with insurgency, stating that such soft attacks would be hard to eliminate.

“We insist that we have met it; it is not rhetoric, it is true and the military has done its part, Boko Haram has been defeated.

“What is missing is the civilian end of the war,” he said.

Mohammed urged the media to support the government in a public service campaign on what Islam is and the sensitization on how to identify improvised explosive devices and suicide bombers.

“The media needs to play its role now and that is also reporting equally the progress reports,” he said.
Mr. Joseph Adeyeye, the Controller, Publications, Punch Nigeria Ltd., who thanked the minister for coming, said that the media would have to reflect the realities in the country.

He advised the federal government to improve on its intelligence gathering capabilities.
Culled from ThisDay Life

WIKE DISSOCIATES SELF FROM ALLEGED INVOLVEMENT IN THE EXECUTION OF 700 BIAFRANS

The attention of the Rivers State Government has been drawn to a malicious, mischievous and a completely false report emanating from a social media based medium of the alleged transfer of ‘Biafran prisoners’ from the Port Harcourt prison to Kaduna where it is claimed they are to be executed on the orders of President Muhammadu Buhari with the support of the Rivers State Governor, Chief Nyesom Ezenwo Wike, CON.

For the avoidance of doubt, the Rivers State Government puts it on record that the contrived report is the figment of the imagination of those who concocted it. It is false and intended to cause disaffection among the peace-loving people of Rivers State and their neighbours.

The State government assures the general public that the Rivers State Attorney-General and Commissioner of Justice, Emmanuel Chinwe Aguma, SAN, has conferred with the Comptroller of Port Harcourt Prisons to ascertain the veracity of the report and has confirmed that it is completely false.

We also put it on record that the false report bears the trademarks of desperate opposition elements determined to stop at nothing, including the concoction of unwholesome propaganda to usurp, truncate and steal the mandate of Rivers people through every imaginable means possible, regardless of the worrying degree of irrationality and threat to our collective wellbeing, harmony and peaceful coexistence.

The Rivers State government, therefore, warns those whose penchant it is to fabricate and churn out falsehood and all manner of propaganda to desist forthwith from such unpatriotic acts as it shall not fail henceforth to mobilise the necessary resources, both within and outside the shores of Nigeria, to nip, expose and neutralise their structures and bring them to justice irrespective of their locations anywhere in the world.
The Rivers State government commends the good people of Rivers State and, indeed, all Nigerians for seeing through the antics of consistent losers and failed politicians seeking to derail the soaring flight of governance in Rivers State.

The Rivers State government shall remain focused on delivering the much needed and hitherto abandoned service delivery to Rivers people and continue to put smiles on their faces irrespective of the political gang-up against them and their beloved Rivers State.

Signed
Oraye St. Franklyn Esq.
Senior Special Assistant to the Governor New Media

Naira weakens into 2016; Foreign reserves can last only 4 months import

For the Naira, it is not a Happy New Year.

The Naira ended 2015 and entered 2016 on a negative note as it depreciated to N267 to the dollar at the parallel market and closed at N199 at the interbank market on the last day of the year.

Prior to this the Naira traded for N260 at the parrallel market and N198.87 at the interbank.

The Naria had strengthened on Wednesday against the dollar at inter-bank market as activities begin to slow preparatory to the end of the year.

The Central Bank of Nigeria (CBN) had closed its official window before the Christmas break at N197 to the dollar.

Meanwhile Nigeria’s external reserves continued to decline standing $29.1 billion as at December 30, 2015 according to latest figures made available on the website of the CBN.

The reserves have declined by 15.6 per cent when compared to $34.46 billion which it was as at the end of 2014, covering barely four months of the country’s imports.

Analysts at Cowry Asset Management Limited had expected the Naira to stabilise against the dollar on low demand this yuletide season against improved supply from the informal sectors.

CBN governor Godwin Emefiele, had at the last Monetary Policy Committee meeting, said the average Naira exchange rate remained relatively stable at both the inter-bank and Bureau-de-Change (BDC) segments of the FX market in October.

YARPTI FROWNS AT DISRESPECT OF COURT ORDERS BY PRESIDENT BUHARI

A human rights group Youths for Human Rights Protection and Transparency Initiative (YARPTI)  has frowned at the  disrespect of court orders by the Buhari led government of  Nigeria . The group  condemned
the situation were several  courts have granted Mr. Dasuki and Mr Nnamdi Kanu bail and  after fulfilling the conditions for their  bail the DSS refused to allow them  go.
In a statement jointly signed by its National Coordinator, Kenneth Uwadi  and  National Media Affairs Director , Veronica Ekpo , the group viewed the two development  as “exhibition of dictatorial tendencies and an attempt to return Nigeria to the dark days of military jackboot’’.

According to the statement, ‘no one is backing or shielding those that committed crimes against the nation, but it should be made clear that  Dasuki, Kanu, or any other accused person remain innocent until proven otherwise by a court of  law. The way Buhari is going by presuming the accused people to be guilty is unconstitutional’’

Col Sambo Dasuki met his bail conditions and was walking out of Kuje Prison but was immediately rearrested by the DSS and whisked away. Three separate courts have so far granted Mr. Dasuki bail. But even after fulfilling the conditions for his bail  DSS has refused to allow him go home. The same thing happened to former NIMASA boss as well as Nnamdi Kanu where court orders were disobeyed.

In the case of Nnamdi Kanu, the  DSS  flouted and gravely disobeyed four express and consequential orders of the Wuse Zone 2 Magistrate Court and the Federal High Court, Abuja Division bordering on his  constitutional rights to personal liberty, association, assembly, dignity of human person, life and expression. Sadly, the President has confirmed his dictatorial tendencies by saying in  a national media chat that people like  Sambo Dasuki and Nnamdi Kanu do not deserve bail because of the weight of atrocities they have committed.  Buhari is undermining the courts and overthrowing the constitution of Nigeria.

YARPTI said ‘ the government had the opportunity to present their evidences and argument against bail for the two and they did. The court considered all the evidences  and all the arguments and decided to grant bail. Why will the President say they do not deserve bail? The President took an oath to uphold the constitution which is supreme to all other laws or personal opinion. We are in a democracy and democracy is all about the rule of Law. Disobedience to court orders by those who should protect  and  ensure its compliance slides the Nation to anarchy .You don’t act illegally, and as an oppressor of the people and expect the people not to resist such illegality. Whatever the sins of Dasuki and Kanu , let the court alone determine”

SHOCKING PROHECIES FOR 2016 ON BUHARI, BIAFRA AND BOKO HARAM

The year 2016 is coming and with it many prophecies from respected men of God.

 

The founder of INRI Evangel­ical Spiritual Church, Lagos, Primate Elijah Ayodele, has unveiled his prophecies for coming year in an interview with the Sun News.

 

Read below the top 10 prophecies from the prominent cleric:

 

1. Nigerians should not expect President Muhammadu Buhari to achieve much in the anti-corruption war as the whole effort will backfire as several notable people who are close to him will be indicted and thereby tie his hands such that he will not make progress.

2. Buhari’s administration will have more problems by removing the oil subsidy. If care is not taken, we are going to buy fuel at N200 per litre. The removal of oil subsidy will spur militant youths to damage pipelines to steal products for sale.

3. Nigeria army will not be able to defeat Boko Haram if the air force is not fully involved. They can only defeat the insurgents with combined air and ground assaults and using satellites to target their leaders.

4. People in the south west and south south must be careful because the Boko Haram will infiltrate these areas. The insurgents will still carry out more suicide bomb attacks in Plateau and Abuja.

5. If the All Progressives Congress is not careful, the party will crack. Also if the PDP does not go back to beg the founding fathers, the party may not recover, because some PDP governors will flee to the APC.

6. A northern party will emerge. CPC is not yet over. A group from the north will recreate the CPC with a northern person in charge. APC as it is now will have problems if they are not careful. APC and PDP need a lot of prayers.

7. More political parties will be registered. Not all House of Assembly speakers will finish their terms. It is only prayers that will make the Taraba woman to go back to that seat.

8. Seriake Dickson has to pray very well to retain his seat.

9. The Halliburton case will come up again.

10. In probing Jonathan, Buhari will end up shooting himself in the leg. What I mean by that is that as he tries to trouble Jonathan, it will cause problems. He will only be able to hit corruption, but will not make much impact. In the process of the corruption battle, some people who are close to Buhari will be indicted. That is why I said that Buhari will shoot himself in the leg.

10. Buhari will make efforts to make Nigeria better, but his efforts will be frustrated by a cabal in his government. He will step on many toes, but that would frustrate his administration the more.

11. Buhari must not overlook Biafra. He should dialogue with them. He must not hold dialogue with Boko Haram. If he does it, he will destroy his administration. Nigeria will face a lot of agitations by different groups. His government should not see these predictions as doom messages, but as a warning and follow the advice appropriately.

12. NFF will have crisis. If our club sides play very well they might win a cup. They have to be motivated or they might not perform well. Government efforts to alleviate poverty will not be easy, fruitful. I see a lot of crises: Kanuri-Fulani crisis, Hausa-Fulani crisis. We should pray against massive fish poisoning in the river.

13. Atiku should seek the face of God very well because some people want to create trouble around him and destabilize his political machinery.