Shell Commences Trans-Forcados Pipeline Testing Oil price rebounds to $50 as US inventories drop
Ejiofor Alike with agency reports After months of repairs, Shell Petroleum Development Company (SPDC) has started
testing the Trans-Forcados crude export pipeline for a potential restart, with the Astro Perseus crude tanker expected to load the first cargo by the weekend.
The pipeline has been largely shut since it was bombed by the Niger Delta Avengers (NDA) in February 2016. The pipeline resumed
exports in October 2016 after it was repaired but was shutdown in November after the militants bombed the subsea facility for the second time.
Before the militant attacks, the Forcados stream accounted for between 200,000 and 240,000 barrels per day. But following the repeated attacks on the Forcados
pipeline, companies that fed crude into the Forcados stream have been working around the long-term pipeline outage, Continued on page 8
Moody’s Assigns Stable Outlook on Nigerian Banking Sector.... Page 10 Thursday 11 May, 2017 Vol 22. No 8057. Price: N250
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Kano Assembly Constitutes Committee to Probe Sanusi Cleric arraigned for insulting emir
Ibrahim Shuaibu in Kano The Kano State House of Assembly has set up an eight-man committee to investigate the allegations levelled against the Emir of Kano, Mallam Muhammad Sanusi II bordering on his purported misconduct and alleged misappropriation of funds belonging to the Kano
Emirate Council. The Speaker of the state assembly, Kabiru Alhassan Rurum, who presided over plenary yesterday, constituted the panel following a point of order raised by the member representing Nasarawa constituency, Ibrahim Ahmad Gama. Continued on page 9
Lai Mohammed: Controversy over Buhari's Handover Letter Needless Distraction
FEC approves negotiations for LagosKano, PH-Maiduguri rail lines concession Omololu Ogunmade in Abuja The federal government yesterday dismissed the controversy over President Muhammadu Buhari’s letter to the National Assembly, in which he stated that VicePresident Yemi Osinbajo would “co-ordinate government
activities” in his absence. Fielding questions from State House correspondents on the outcome of the weekly Federal Executive Council (FEC) meeting which was presided over by Osinbajo, the Minister of Information and Continued on page 9
Tinubu: Jonathan Spent Huge Amount of Money to Defeat Ambode in 2015... Page 11
Chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu (right) presents the United States Ambassador to Nigeria, Mr. Stuart Symington with an INEC plaque, when the latter visited the commission’s headquarters in Abuja… yesterday