World Bank Raises 2016 Oil Price Forecast to $41 per Barrel Offers to support Nigerian govt
Obinna Chima in Lagos and Kasim Sumaina in Abuja
Amid improving market sentiment and a weakening dollar, the World Bank has raised its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest Commodity
Markets Outlook, stating that oversupply in markets is expected to recede. Brent crude futures were up $1.30 or nearly three per cent, at $45.78 a barrel
yesterday. Oil markets rose about three per cent as a tumbling dollar boosted commodities denominated in the greenback after bets that the Federal Reserve will
hold US interest rates where they are. The crude oil market recovered from a low of $25 per barrel in mid-January to $40 per barrel this month,
following production disruptions in Iraq and Nigeria and a decline in non-Organisation of Petroleum Exporting Countries output, mainly US shale.
FBN Holdings' Profit Falls by 82% to N15.1bn... Page 50
A proposed production freeze by major producers failed to materialise at a meeting held in Doha, Qatar mid-April. “We expect slightly higher prices for energy commodities over the course of the year Continued on page 8
Wednesday 27 April, 2016 Vol 21. No 7671. Price: N250
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House Summons DG, DSS over Enugu Killings, Ugwuanyi Sues for Peace
MASSOB issues 30-day ultimatum to Buhari to end attacks
Senator Iroegbu, Damilola Oyedele in Abuja, Christopher Isiguzo in Enugu and Emmanuel Ugwu in Umuahia
FORTE OIL MEETS ITS SHAREHOLDERS
L-R: Director, Forte Oil Plc, Mr. Anil Dua; Company Secretary, Mr. Akinleye Olagbende; Chairman of Forte Oil, Mr. Femi Otedola; and the Group CEO of Forte Oil, Mr. Akin Akinfemiwa, when the company held its 37th annual general meeting in Lagos… yesterday
Following the alleged murder of about 48 persons in Ukpabi, Nimbo community of UzoUwani Local Government Area in Enugu State on Monday by
Buhari Meets Saraki, Dogara, Reaches Truce on Budget Continued on page 8
C’ttees set up to harmonise grey areas, bill will be ready in days for assent Pro, anti-Saraki protesters clash at N’Assembly Legislative commission rejects directive on clerk Tobi Soniyi and Omololu Ogunmade in Abuja In line with the National Assembly’s resolve to meet
with the executive to iron out the differences over the 2016 Appropriation Bill, Senate President Bukola Saraki last night met with President
Muhammadu Buhari to reach a truce on the budget. His meeting followed a similar one held yesterday afternoon between the
Speaker of the House of Representatives, Hon. Yakubu Dogara, and the president on the budget. Emerging from his closed-
door meeting, Saraki informed State House correspondents that the National Assembly and the presidency had found a way of resolving the impasse
over the budget. He said the executive arm of government and the National Continued on page 8
Falana Asks President to Investigate Unlawful Killings by Security Forces...
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