Business News
NLNG signs supply agreement with Galp Trading SA
An agreement has been signed by Galp Trading SA and Nigeria Liquefied Natural Gas (NLNG) for supply of one million tonnes of LNG per year.
Nigeria Liquefied Natural Gas (NLNG) has signed an agreement with Galp Trading SA to supply one million tonnes of LNG per year. This is coming shortly after Nigeria signed a deal with Eni and Total Gas & Power for a 10-year supply.
The Liquefied Natural Gas deal with Galp Trading SA will ensure the company receives a 10-year supply on a delivered ex-ship basis from Trains 1, 2 and 3 of a six-train NLNG production facility on Bonny Island. The move is part of the remarketing of some volumes from NLNG’s existing trains, as some contracts approach expiration.
What you need to know: The NLNG is co-owned by the Nigerian National Petroleum Corporation (NNPC), representing the Federal government which holds a 49% stake, while the other stakeholders, Shell has 25.6%, Total holds 15% and Eni accounts for 10.4%.
According to a report, NLNG is capable of producing 22mtpa of the LNG as six trains are currently operational. Meanwhile, after a 10-year delay, shareholders of the company took the final investment decision on the company’s Train 7 project in December.
NLNG has been busy: NLNG has been busy signing deals and renewing contracts since late last year. Nairametrics had reported that two separate sale and purchase agreements were sealed by NLNG with Eni and Total Gas & Power for some of the remarketed volumes of Liquefied Natural Gas from NLNG’s Trains 1, 2 and 3.
[READ MORE: Indian firm, Ramco signs partnership deal with Nigerian airline)
Both agreements will also be effective for 10 years. The detail of the deals signed with Eni and Total Gas & Power showed that 1.5 million tonnes will be supplied per annum for the duration of both contracts.
Why the deals matters: The agreement ensures NLNG continues to deliver the LNG globally. This, according to the company, will consolidate the position of Nigeria LNG among the top-ranking LNG suppliers in the world.
Energy
BREAKING: It makes no sense for oil to be cheaper in Nigeria than Saudi Arabia – President Buhari
Nigeria sells petrol at N161 per litre when the same is sold at higher in Saudi Arabia, Egypt, Ghana, Chad, and Republic of Benin.
Tech News
Google launches Chromecast with Google TV
Google unveils the Chromecast device to stream contents from Walt Disney Co’s Disney+ and Netflix.
Alphabet Inc’s Google, some hours ago, launched Chromecast with Google TV, a hardware platform designed to show contents from leading streaming services like Walt Disney Co’s Disney+ and the most popular streaming service company, Netflix.
The tech juggernaut unveiled the Chromecast streaming device that now comes with a remote control. It will cost $49.99 in the U.S, and will be available in other countries by the end of 2020.
The real advantage this device holds looks to be the underlying search smarts that serve as the foundation for so much of what Google does. Here’s the company discussing the new feature in a blog post:
“Google TV’s For You tab gives you personalized watch suggestions from across your subscriptions organized based on what you like to watch—even your guilty pleasure reality dramas. Google TV’s Watchlist lets you bookmark movies and shows you want to save for later.
You can add to your Watchlist from your phone or laptop, and it will be waiting on your TV when you get home.
The new Chromecast with Google TV comes in a compact and thin design and is packed with the latest technology to give you the best viewing experience. It neatly plugs into your TV’s HDMI port and tucks behind your screen.
Hardware composition:
- Switching it on, the new Google Tv comes with a crystal clear video in up to 4K HDR at up to 60 frames per second in no time. With Dolby Vision, you’ll get extraordinary color, contrast, and brightness on your TV.
- The Hardware also supports HDMI pass coupled with Dolby audio content.
Coronavirus
COVID-19 Update in Nigeria
On the 30th of September 2020, 201 new confirmed cases and 1 death was recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 58,848 confirmed cases.
On the 30th of September 2020, 201 new confirmed cases and 1 death was recorded in Nigeria, having carried out a total daily test of 2,549 samples across the country.
To date, 58,848 cases have been confirmed, 50,358 cases have been discharged and 1,112 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 509,555 tests have been carried out as of September 30th, 2020 compared to 507,006 tests a day earlier.
COVID-19 Case Updates- 30th September 2020,
- Total Number of Cases – 58,848
- Total Number Discharged – 50,358
- Total Deaths – 1,112
- Total Tests Carried out – 509,555
According to the NCDC, the 201 new cases were reported from 13 states- Lagos (77), Rivers (37), Plateau (25), FCT (13), Kaduna (12), Ogun (12), Adamawa (8), Taraba (7), Imo (4), Kwara (2), Osun (2), Abia (1), Oyo (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,461, followed by Abuja (5,709), Plateau (3,450), Oyo (3,261), Edo (2,626), Rivers (2,432), Kaduna (2,419), Ogun (1,850), Delta (1,802), Kano (1,737), Ondo (1,631), Enugu (1,289), Ebonyi (1,040), Kwara (1,036), Abia (895), Gombe (883). Katsina (861), Osun (839), Borno (745), and Bauchi (699).
Imo State has recorded 572 cases, Benue (481), Nasarawa (450), Bayelsa (399), Jigawa (325), Ekiti (321), Akwa Ibom (288), Niger (259), Adamawa (248), Anambra (237), Sokoto (162), Taraba (102), Kebbi (93), Cross River (87), Zamfara (78), Yobe (76), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous
BREAKING: It makes no sense for oil to be cheaper in Nigeria than Saudi Arabia – President Buhari
Google launches Chromecast with Google TV
Exchange rate weakens at NAFEX window as dollar supply continues its decline
U.S stocks post gains in Q3, amid growing geopolitical uncertainty
Nigerians bypassing bank transfers with crypto
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦465/$1
Access Bank gets regulatory approval to become a Holding Company
How declining interest rates, others drive a shift in Nigeria’s investment sector
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