It is
worth reiterating that gas flaring reduction potential was part of
the underlying opportunity for the (otherwise laudable)
project. PI&D obtained arbitral award against Nigeria,
sought to enforce same inclusive of the substantial interests and
Nigeria after some initial lethargy and missteps is now actively
challenging same, arguing that the entire project was a fraud. See
Fikayo Akeredolu, Nigeria and P&ID: The Story
Behind the $9.6 Billion Judgement, Nigeria Wins Another Victory Against
P&ID ,
Energy Voice, 30.09.2020:
https://www.
energyvoice.com/oilandgas/africa/268744/nigeria-pid-court-guarantee/;
Kush Amin, Did an Alleged Corrupt Natural Gas
Contract Rob Nigeria of US$9.6 Billion? ,
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Us crude oil futures rose more than 1 per cent above $47 in European trading on Friday, while Brent crude oil futures rose back above $50 amid expectations that the launch of novel coronavirus s vaccine would boost global fuel demand. the news of the oil tanker explosion in Saudi Arabia made the market nervous.
As of press time, the futures price of US crude oil was at 47.16 US dollars per barrel, up 1.27%, while the futures price of Brent crude oil was at 50.63 US dollars per barrel, up 1.32%. Meibu and Meibu have closed higher for the sixth consecutive week, the longest gain since June this year.