BY ECONOMIC & FINANCE REPORT
The Jordanian kingdom has stopped a business deal worth approx $15 billion dollars for Israel’s oil and gas supply, reported by the Jordanian Ministry of Energy and Mineral Resources.
Instead the Jordanian govt has stated that it will sign a mega gas/oil production deal with BG Group PLC, which is located outside the Gaza strip. The previous deal which has now been suspended; was with giant Israel based oil and gas company, Noble Energy (NBL). The deal was supposedly worth north of $15 billion dollars.
Jordan is doing this deal with tje BG Group PLC because of the halting of the gas/oil pipeline in Egypt, which affects the region especially Jordan directly. There has been constant pipeline bombings in Sinai, Egypt disrupting the production and output in the region.
By: Economic & Finance Report
Energy is big business in Nigeria and in Africa in general. Billionaire Aliko Dangote, Africa’s richest man has invested $2 billion dollars in Nigeria’s oil refinery. It is Nigeria’s petrochemical and fertiliser plant. He has already invested $9 billion dollars in the refinery adding the recent $2 billion recently. This project has been noted by energy analysts as galvanizing and revolutionizing the energy sector in Nigeria.
Nigeria’s refineries have had problems for decades, not being able to output oil to its full capacity, being unmanageable and the high rate of oil robberies and theft.
Nigeria’s economy continues to expand and diversify especially within the past decade but the country is still relying on oil as it’s main producer… Nigeria’s is Africa #1 oil producer… Nigeria oil accounts for 90 percent of export earnings and 70 percent from its national GDP earnings.
Mr. Dangote and his Dangote Group investing $2 billion in the oil refinery will position Nigeria to broaden its spectrum in the energy sector within and help ease the necessity of energy from being imported..