Roman Abramovich’s Jet Among 100 Planes Grounded By US
Nearly 100 planes with ties to Russia have been effectively grounded by the US government, including one owned by billionaire Roman Abramovich. The US Commerce Department has said the planes are in contravention of US sanctions on Russia. Providing service to these aircraft anywhere in the world – including inside Russia – may lead to […]
Airline Giant, Delta Warns Oil Increases Mean Higher Ticket Prices
Higher oil prices are set to lead to a 10% increase in air fares, according to the boss of one of the world’s biggest airlines. Delta Air Lines head Ed Bastian told the BBC the final impact “really depends where fuel prices settle”. Oil prices have reached 14-year highs after Russia’s invasion of Ukraine. Emirates, […]
Tony Elumelu Laments ‘95% Of Crude Oil Lost To Theft’
Businessman and Chairman Heirs Holdings, Mr Tony Elumelu, on Thursday bemoaned the fact that Nigeria was losing over 95 per cent of its oil production to thieves. Elumelu, who narrated the ordeal of some of his colleagues at work on his official Twitter handle, noted that apart from the economy, Nigerians are now afraid as […]
US To Partner Nigeria To Stop Gas Flaring By Conversion To Ammonia
Nigeria’s energy transition agenda, in line with global direction received a boost on Thursday at the CERAWeek energy conference in Houston, Texas, as the United States’ Government indicated interest in a bi-lateral partnership that would see the conversion of the enormous gas resources currently being flared to ammonia. Ammonia has the potential of being a […]
FG Shuts Illegal Online Banks Over Abuse Of Customers Privacy
The Federal Competition and Consumer Protection Commission, in cooperation with the Independent Corrupt Practices and Other Related Offences Commission, the National Information Technology Development Agency, and the Nigerian Police Force, raided some unlawful financial institutions on Opebi Road in Ikeja, Lagos, on Friday. GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, and Easy Moni were among the […]
McDonald’s, Starbucks, Coke, Pepsi Join Exodus Out Of Russia
McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric __ ubiquitous global brands and symbols of U.S. corporate might __ all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” McDonald’s President and CEO Chris […]
Shell Won’t Buy Any More Russian Oil And Gas
Russia is finding it ever harder to sell its oil and gas. Shell (RDSA) said Tuesday it was breaking completely with Russia’s giant energy industry, halting all purchases of Russian crude oil immediately and shutting its service stations in the country. The UK-based company, which last week announced it was dumping its investments in Russia, said its decision to abandon […]
Russia Says It May Cut Gas Supplies If Oil Ban Goes Ahead
Russia has said it may close its main gas pipeline to Germany if the West goes ahead with a ban on Russian oil. Deputy Prime Minister Alexander Novak said a “rejection of Russian oil would lead to catastrophic consequences for the global market”, causing prices to more than double to $300 a barrel. The US […]
Visa, Mastercard Suspend Operations In Russia Over Ukranian Invasion
U.S. payments firms Visa Inc (V.N) and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there. Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country and […]
Samsung Electronics Suspend Export Of Smartphones, Chip To Russia
Samsung Electronics has suspended shipments to Russia due to “geopolitical developments,” the company said on Saturday, as prominent corporations such as Apple broke connections with Russia following its invasion of Ukraine. The South Korean tech behemoth is the world’s largest memory chip manufacturer and Russia’s top smartphone seller. “Due to current geopolitical developments, shipments to […]
