SHELL’S ASSET DISPOSAL PLANS FACE DELAY

Royal Dutch Shell’s $30bn asset disposal programme put in place after its takeover of BG Group is likely to drag on beyond 2018 if oil prices remain depressed.

 

Shell is planning to sell off a large chunk of its portfolio because the BG takeover — the biggest energy deal in more than a decade — significantly increased the combined group’s debt load.

 

Read more @ Financial Times

WORLD BANK REVISES OIL PRICE FORECAST TO $52

The World Bank has said it is lowering its 2015 forecast for crude oil prices from 57 dollars per barrel in its July report to 52 dollars per barrel.

This is according to the bank’s new Commodity Markets Outlook, a quarterly update on the state of the international commodity markets

Read more @ Thisday Online

ENERGY STOCKS SEEN HURT BY OIL PRICE DROP

The shares of listed Nigerian Oil & Gas companies have since taken a beaten as oil price drop weighed investors’ appetite to raise bets on them. The price of oil has halved over the last 12 months, mainly as a result of unprecedented levels of production from some major exporting countries

Read more @ Businessday Online

Infrastructure deficit, sliding oil prices may cut Nigeria’s growth projection

Growth is expected to decelerate in Sub-Saharan Africa to 3.7 per cent in 2015, the lowest since 2009, due to declining crude prices and infrastructure (electricity supply and transport) constraints affecting Nigeria and South Africa.
The World Bank said in a report titled: Africa Pulse released on Monday, that slowdown in growth forecast is related to crude oil prices, refining, one of the key activities in the sector, which recorded a sharp decline.
Read more @ Guardian online
 

 

Oil price fall may continue till 2017 – OPEC

The decline in global crude oil prices may not abate until 2017 as the oil market is expected to rebalance within two years, the Secretary-General of the Organisation of Petroleum Exporting Countries, Abdalla el-Badri, has said.
Read more @ Punch Online

FALLING OIL PRICES WON’T AFFECT 2015 BUDGET –REPS

The House of Representatives on Sunday dismissed fears that the falling crude oil prices would adversely affect the 2015 budget.

From around $114 months back, the prices of crude have dropped far below $100 per barrel lately, raising concerns of a possible negative impact on Nigeria’s monolithic economy.

Read more @ The Punch