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Europe Top News and Analysis Nigeria

  • *Taxify will soon test model in London, Uber's biggest market. TALLINN, June 16- The key to success for ride sharers is keeping drivers happy so they run the app ensuring enough cars to meet passenger demand. Estonia upstart Taxify is hoping to win over drivers and take on giant Uber by offering a larger share of the profit.

  • Men work for Iraqi Drilling Company at Rumaila oilfield in Basra, Iraq,

    OPEC's oil production jumped in May despite the exporter group agreeing last month to extend its six-month deal to cap output into 2018.

  • ABUJA, June 8- Nigeria plans to raise $1.2 billion to upgrade its oil refineries, aiming to end a reliance on oil product imports by 2019, the oil minister said on Thursday. Although Nigeria is an exporter of oil, it is mainly dependent on imports for refined products. "We are still far from signing any contract with anybody," said Minister of State for Petroleum...

  • ABUJA, June 8- Nigeria's daily domestic refining capacity is now at 6 million liters, while the country's daily consumption stands at 35 million liters, the country's oil minister said on Thursday. The Minister of State for Petroleum Resources Ibe Kachikwu gave the comments at a press briefing in the capital of Abuja. Nigeria is pushing to refurbish its decrepit...

  • A Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    American oil exports are surging thanks to low prices for U.S. crude, but rising output elsewhere could rein in shipments, Matt Smith said.

  • LAGOS, May 31- For Europeans, Nokia's revamped' brick' is a throwback to a simpler, more innocent age, when phones were for speaking and reading on the train meant buying a newspaper. Although mobiles are now as common in Africa as they are in the United States or Europe, smart-phones are rarer, making up only one in three handsets in South Africa and one in four in Nigeria,...

  • ABUJA, May 31- Nigeria's cabinet approved on Wednesday a plan to set up a joint venture with pharmaceutical firm May& Baker Nigeria Plc to produce vaccines, the health minister said. The company will have an initial capital of 100 million naira. Health minister Isaac Adewole told reporters the joint venture would be based in the commercial capital Lagos with the...

  • ABUJA, May 29- Nigeria's economy is the "biggest challenge of all" for the government, the acting president said on Monday at an event to celebrate two years of the administration of President Muhammadu Buhari, whose repeated periods of medical leave have nevertheless raised concerns. The economy has contracted for five quarters in a row, data showed last week, in...

  • We've never seen an OPEC deal with such strong compliance

    Sabine Schels, head of commodities research at Bank of America Merrill Lynch, says that the market is most worried about Libyan and Nigerian oil production.

  • CNBC's Steve Sedgwick reports from OPEC's headquarters in Vienna about the group's decision to extend the current supply cut by nine months.

  • Lightning oil rig

    Market watchers are keeping a keen eye on Vienna this week as the Organization of the Petroleum Exporting Countries meet.

  • A lot depends on this meeting, not just cuts Trump's cut of strategic reserves will not go through congress: Pro

    Amrita Sen, chief oil analyst at Energy Aspects, speaks about production cut compliance from Nigeria and Donald Trump's proposal that the U.S. sells half its strategic petroleum reserve.

  • ABUJA, May 22- Nigeria will increase the interest rate on unpaid taxes to discourage companies and individuals from paying late and racking up a larger debt, the finance ministry said on Monday. Economists have long criticized the low levels of tax in Africa's largest economy and in March the Abuja government laid out plans to increase its overall tax to GDP...

  • LONDON, May 18- Nigeria's state oil company is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. The contracts, which come three months later than expected, include three more pairs of companies than last year,...

  • LONDON, May 18- Nigeria's state oil company is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. The contracts, which come three months later than expected, include three more pairs of companies than last year,...

  • File photo of firefighters working to put out the fire of a storage oil tank at the port of Es Sider in Ras Lanuf. Oil tanks at Es Sider have been on fire for days after a rocket hit one of them, destroying more than two days of Libyan production

    Rising oil production in Libya and Nigeria threatens OPEC's output cuts, but internal conflicts could keep barrels on the sidelines.

  • DUBAI, May 16- Turkey's TAV is in talks with banks to get the $250 million it needs to develop three airports in Saudi Arabia, the airport operator's president Mustafa Sani ener said on Tuesday. TAV Airports Holding, in partnership with Al Rajhi Holding Group, was chosen to develop and operate Saudi Arabia's Yanbu, Qassim and Hail international airports.

  • An oil platform off the coast of Angola

    The oil market has essentially reached a balance and will continue to accelerate in the near term, the IEA said in its monthly report.

  • LAGOS, May 9- Nigeria's government should simplify taxes and reduce fees involved in laying fibre optic cables to encourage development of infrastructure for the technology industry, Google's manager in the West African country said on Tuesday. Juliet Ehimuan-Chiazor told Reuters boosting the technology industry would help diversify Nigeria's...

  • **BUDAPEST- Hungarian Central Bank holds non-rate-setting meeting. MANILA- Philippines Central Bank holds its monetary policy meeting. MANILA- Philippines' Central Bank Deputy Governor Diwa Guinigundo updates business executives on the Interest Rate Corridor scheme, at the Makati Shangri-La Hotel- 0130 GMT.