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Saudi vision 2030 and rev up in oil refining

When Crown Prince Mohammed bin Salman, also known as MBS presented the Saudi vision 2030, on April 15, 2016, few gave the 33-year-old the benefit of the doubt. The Saudi vision statement of not depending solely on oil for future energy needs recognized the fact that real wealth lies in the ambition of its people and the potential of the younger generation. To him, all success stories start with a vision. Was the crown prince certain he would be able to fulfill his dream for a nation that had for long been the largest exporter of global crude? His wish was to pep up the revolution on the need to increase refining capacity as oil transition bells tolled.

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Refineries: No more go-slow in Buhari’s comeback

President Muhammadu Buhari won the 23rd February 2019 election that appeared predictable. As the Chairman of the Independent National Electoral Commission, INEC, Professor Mahmood Yakubu presented the certificate of return last Wednesday, the winner; Buhari condemned the primitive acquisition of wealth which he hoped to tackle as he prepared for his second term in office. Like President Olusegun Obasanjo, President Buhari is one of the mortals that would rule Nigeria three times.

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Nigerian Stock Exchange SEC)

Economic reforms envisioned in Saudi Aramco IPO

The Crown Prince of Saudi Arabia, Mohammed bin Salman, MBS in January, 2016 broke the news that global oil giants, Saudi Aramco would float a US$2 trillion Initial Public Offering, IPO in 2018. Described as the most lucrative in history, three stock greats, the New York Stock Exchange, the London Stock Exchange and Hong Kong out of the 16 ‘Trillion Dollar Club’ members globally, jostled to win the listing of Aramco shares.

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Oil

Global oil reality 2019

It was a sunrise 12 days ago, with a new year. We take a global peek of what this year may have in store for oil. As forecasted by the International Energy Agency, IEA in its Oil Market Report, global demand is projected to increase to 100.8 million barrels per day this year from a daily average of 99.3 million barrels per day in 2018. But another belief is that global oil supply will outpace demand throughout 2019. 

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