Word: nigerias
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Dates: during 1970-1979
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...force last week reported that there is a "substantial risk" of a drop in OPEC output of as much as 3 million bbl., an amount just about equal to total current Iranian production. The drop would be caused by expected cutbacks early next year by Saudi Arabia, Kuwait, Iraq, Nigeria and Libya. Thus oil prices stand to rise considerably even if Iran does not reduce its current production...
...many oilmen suspected that the missing petroleum would soon enough turn up for sale on the spot market. Meanwhile, Saudi Arabia was hinting strongly that early next year it will cut as much as 1 million bbl. a day from its production of 9.5 million bbl., and Kuwait and Nigeria were also considering reductions. These moves will keep supplies scarce and prices high...
...spot market chaos will fuel demands for a big new surge in official OPEC prices when the cartel meets in Caracas on Dec. 17. Already Algeria and Libya have pushed their prices beyond the ceilings set by OPEC in June, and last week Nigeria jumped to $26.27 per bbl. Oil executives now gloomily forecast that the official OPEC ceiling could soon reach $28 to $30 per bbl., raising the U.S. energy import bill from some $65 billion this year to as much as $90 billion next year...
Lieut. General Olusegun Obasanjo, former Nigeria strongman, after handing over the government to civilians and retiring to his farm: "I went, I served, I accomplished and I returned. Thanks...
...must ensure that the money of the people of Cambridge is not invested in the blood-money of the banks in South Africa," Ampin Blankson, deputy permanent representative of Nigeria at the U.N. said at the meeting...