Nigerian Times

15 Jan 2008 19:09 Africa/Lagos OPEC's Total Crude Oil Output Rose to 32 Million Barrels Per Day in December, a Platts Survey Shows LONDON, Jan. 15 /PRNewswire/ -- The members of the Organization of Petroleum Exporting Countries (OPEC) produced an average 32.03 million barrels per day (b/d) of crude oil in December, according to a Platts survey of OPEC and oil industry officials January 14. This is up from November's rate of 31.65 million b/d. Production from OPEC's ten members bound by crude output agreements averaged 27.43 million b/d in December, the survey showed. This is 460,000 b/d more than in November and 177,000 b/d higher than the group's 27.253 million b/d target which came into effect at the beginning of November. "The increase in supply is certainly welcome to this market," said John Kingston, Platts Global Director of Oil. "It appears the group's on track to meet its January target, which is nearly 29.7 million barrels per day for ...

Madam Patricia Etteh, the first female Speaker of Nigeria's House of Representatives, resigned Tuesday, following her indictment over the misappropriation of public funds in multiple contracts of N628m (US$5 million)for the renovation of her official residence and the purchase of 12 official cars. The Representatives had exchanged blows as they fought over the case and Dr. Aminu Safana, the House Committee Chairman on Health, slumped during the pandemonium. He was rushed to National Hospital in Abuja where he died shortly after and the Speaker was accused of causing his sudden death. She ignored and dismissed calls for her resignation until Tuesday. "Following advice from family, friends and colleagues and in the interest of democracy, I tender my resignation," She said in a press statement in Abuja. Her deputy, Hon. Babangida Nguroje also resigned, because of his complicity in the case. The Lower House has appointed Hon. Perngu Tsengba as the Speaker Pro Tempore. Re...