CBN injects fresh US$210m into forex market

CBN injects fresh US$210m into forex market: The Central Bank of Nigeria (CBN) on Tuesday made available the sum of US$210 million to meet customers’ requests in various segments of the foreign exchange market. (Source: Thisday)

Shell to consider FID on Bonga Southwest in 2019: Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, a senior company official said yesterday. The project, one of the country’s largest with an estimated production of 180,000 barrels per day, is expected to generate profit at below US$50 a barrel. Shell is currently negotiating a production sharing contract with the Nigerian government, which will determine the viability of the project, he said. (Source: Punch)

Transcorp to begin exploration of oil from OPL 281 in 2019: Transnational Corporation of Nigeria Plc (Transcorp) has unveiled plans to convert its Oil Prospecting Licence (OPL) 281 asset (located in Delta state) to Oil Mining Lease (OML) for commercial production by 2019. The company has already engaged a new technical partner and is in the process of finalising arrangements for the pre-exploratory activities expected to kickoff by 2019. (Source: Guardian)

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