Sunday, 20 September 2015

AU SUSPENDS BURKINA FASO AFTER COUP!!

Live Reporting

By Clare Spencer and Damian Zane
All times stated are UK

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AU suspends Burkina Faso after coup

The African Union's peace and security council (PSC) has suspended Burkina Faso following Thursday's coup in Ougadougou.
In a series of strongly worded tweets the PSC threatens sanctions and describes the detention to officials from the transitional government as "terrorism":

OSHONAIKE, QUADRI QUALIFY FOR RIO 2016 OLYMPIC GAMES!!

Channels TelevisionUpdated September 18, 2015
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OlympicsNigeria’s Aruna Quadri and Olufunke Oshonaike have qualified for the Rio 2016 Olympic Games after making it to the semifinal stage of the singles event of the 2015 African Games in Congo Brazzaville.
For Oshonaike, it’s a dream come true as she has equaled Segun Toriola’s record of six appearance at the games after making her debut at the 1996 Atlanta Olympic Games in United States.
To book her place, Oshonaike defeated Egypt’s Yousra Helmy 4-2 to set up a semifinal clash against another Egyptian Nadeen El-Dawlatly on Saturday September 19.
With this qualification, Quadri who defeated Egypt’s Ahmed Saleh 4-1 in the quarterfinal will be making his second appearance at the games after his excellent debut in 2012 when he made it to the second round.
For the semi-final tie, Quadri will battle against Egypt’s Khalid Assar who edged out Nigeria’s Ojo Onaolapo in the quarter-finals.
Other players who have sealed qualification are Egypt’s Assar brothers, Omar and Khalid as well as Chinese-born Wang Jianan who defeated Segun Toriola 4-1 in the quarter-finals.
The other three players that secured Olympics slots alongside Oshonaike are Egypt’s Dina Meshref and Nadeen El-Dawlatly as well as Chinese-born Congo Brazzaville’s Han Xing.

NNPC SECURES $1.2 BILLION FUNDING FOR 36 OIL WELLS!!



NNPCAs part of a strategic move to grow Nigeria’s oil and gas reserves and generate more income, the Nigerian National Petroleum Corporation, NNPC has secured a $1.2 billion multi-year drilling financing package for 36 Offshore/Onshore Oil wells under the NNPC/Chevron Nigeria Limited Joint Venture.
At the ceremony held in London to consummate the deal, the Group Managing Director of the NNPC, Dr Ibe Kachukwu described the new alternative funding model in the upstream financing which would serve as a template for future initiative to supplement the Federal Government’s Joint Venture Cash Call commitment.
A break down of the funds which is being financed by a consortium of Nigerian and International lenders indicates that the $1.2bn is to be channeled into the development of 23 onshore and 13 offshore wells on OML 49, 90 and 95 in two stages over 2015-2018.
Stage one, comprising 19 wells, is projected to deliver 21,000 barrels of crude oil and condensate per day alongside 120 million standard cubic feet of gas per day (mmscf/d) over 2015 and 2016.
Stage two, comprising 17 wells is projected to yield 20, 000 barrels of crude oil and condensate per day alongside gas production of 7 million standard cubic feet per day (mmscf/d) between 2016 and 2018.
It is also envisaged that both stages of the project would generate $2 to $5 billion of incremental revenue to the Federation account.
Beyond the contribution to the National Treasury, the projected peak incremental gas production of 127 mmscf/d, which is the electricity equivalent of 400 megawatts would help boost the Federal Government’s domestic gas aspirations with expectant positive effect on power supply.