NewStats: 3,261,429 , 8,173,989 topics. Date: Thursday, 29 May 2025 at 09:13 AM 193ce

chukwudi44:

Empty noise!!!so what is stopping the people who can remove them from doing so ?

Because they suffered and learned a lot in the process of having the power. They are, probably, thinking of the legacy they will leave behind. Speed does'nt always bring success.

chukwudi44:

Saraki is already greater than his father you want him to learn from.His father was senate leader,he is now senate president.Tinubu[b][/b] is a learner where saraki is.[b]Tinubu [/b]while at the senate was an ordinary floor member!!! He is a small boy compared to Saraki

Do you have a thing for Tinubu? There are many APC and ers here on NL that can connect you to him if you so desire.

You seem to be defending Ekweremadu seat than ing Saraki. The meaningful these men need is from the people that control the powers for their possible dethronement.

You can stay on NL 24/7 defending them it wont matter if and when the people that can remove them decide to do so.

(Bloomberg) -- Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years.

Exxon reported its lowest profit since 2009 as crude prices fell twice as fast as the world’s largest crude producer by market value could slash expenses. Chevron recorded its lowest profit in more than 12 years after the market rout forced $2.6 billion in asset writedowns and related charges. The companies’ shares fell to multi-year lows.

Stung by the worst market collapse since the financial crisis of 2008, oil explorers from The Hague to Calgary to Houston are firing staff, scaling back drilling, canceling rig contracts and reducing share buybacks to conserve cash. Chevron said the slump convinced it to lower its long-term outlook for crude prices.

“This is the beginning, not the end, of the writedown process,” Paul Sankey, an energy analyst at Wolfe Research LLC, said on Bloomberg TV. “The biggest concern is that we’ll see weaker demand over the second half of the year.”

Oil entered its second bear market since mid-2014 this month as a flood of output from North American shale regions, the Persian Gulf and deepwater fields overwhelmed consumption by refiners and chemical producers.
Avalanche of Crude

Exxon and Chevron contributed to the avalanche of supply by increasing second-quarter crude output by 12 percent and 1.7 percent, respectively. Exxon expanded oil production in every region where it operates except Australia/Oceania. All of Chevron’s growth occurred in the U.S.

“Oil prices will be under downward pressure until there is evidence the glut is shrinking,” analysts at IHS Energy said in a note to clients. “This will not happen quickly unless prices fall even further from recent levels,” discouraging new drilling.

Exxon shares fell 4.6 percent to $79.21 in New York, the lowest closing price since June 2012. Chevron dropped 4.9 percent to $88.48, the lowest close since December 2010. The companies were the day’s worst performers in the Dow Jones Industrial Average index.

Exxon cut share repurchases for the current quarter in half to $500 million after net income fell to $4.19 billion, or $1 a share, from $8.78 billion, or $2.05, a year earlier, the Irving, Texas-based company said in a statement. The per-share result was 11 cents lower than the average estimate of 20 analysts in a Bloomberg survey.
Spending Cuts

Refinery profits fattened by lower crude costs were more than offset by weaker results in the company’s primary business, oil and natural gas production, Exxon said. The company’s U.S. wells lost $47 million.

Exxon reduced spending on major projects like floating crude platforms and gas-export terminals by 20 percent to $6.746 billion during the quarter, according to the statement. International crude prices fell 42 percent from the previous year to average $63.50 a barrel.

Chevron’s profit dropped to $571 million, or 30 cents a share, from $5.67 billion, or $2.98, a year earlier, the San Ramon, California-based company said in a statement. The per- share result was well below the $1.16 average estimate.

Chevron’s biggest business unit -- oil and gas production - - posted a loss as the second-largest U.S. energy company recorded a $1.96 billion writedown on assets and another $670 million charge for taxes and projects suspended because they no longer make economic sense.

Pessimistic Outlook

“The writedowns will get worse into the end of the year as companies complete their end-of-the-year SEC filings,” Sankey said. “The market still looks very oversupplied with oil and we’re in peak demand season.”

Exxon Chairman and Chief Executive Officer Rex Tillerson was among the first to shrink spending as the crude rout began more than a year ago. After cutting the budget by 9.3 percent in 2014, this year’s reduction may exceed the original 12 percent target, Jeff Woodbury, vice president of investor relations, said during a conference call with analysts.

Tillerson, an Exxon lifer whose 10th year as CEO began in January, has been pessimistic about the prospects for an imminent oil-market rebound. On April 21, he told a Houston energy conference that the supply glut and low prices will persist “for the next couple of years” at least.

Those remarks proved prophetic: international crude prices that rose 45 percent between Jan. 13 and May 6 have since tumbled 22 percent, inaugurating the second oil bear market in 14 months.

“Chevron was a disaster; Exxon was a disappointment,” Fadel Gheit, an analyst at Oppenheimer & Co. In New York who rates the shares of both the equivalent of a hold and owns each. “A rising tide lifts all ships, but when the tide goes down, all ships go down.”

--With assistance from Andrew Rosati in Caracas and David Wethe in Houston.

To the reporters on this story: Joe Carroll in Chicago at [email protected]; Dan Murtaugh in Houston at [email protected] To the editors responsible for this story: David Marino at [email protected] Carlos Caminada
- See more at: http://www.rigzone.com/news/article.asp?hpf=1&a_id=139913#sthash.Q4ySk5CH.dpuf

And the Elders preached conscientiousness "...as the land is swampy and jungled - wild ones once ruled here". The Elders gave directions to make this project a success. But the young are hasty, some frenetic as they insist on accomplishing their tasks against Elders' nod.

What the young have forgotten is that time might have changed but the task remains the same. Listen to Elders and they will make sure you don't repeat the mistakes they made but despise them and repeat their past mistakes.

chukwudi44:

Olodo what is stopping then from conditioning the votes? BTW who are these imaginary superiors of his? I hope you are not referring to the inconsequential Tinubu the local ludo player

Do you get paid every time you drop Tinubu's name?

Saraki the 'defendant' knows his superiors. You may want to find out from him the people he has been calling and meeting for intercession since June 9.

Few days ago the Nigerian Air Force responded to an alleged harassment by NAF officers. There is hope that the Nigerian Police Force may one day start taking stringent actions against NPF officers that use their position to harass and kill armless citizens.

On a second thought you may want to institute a case against them. There are many human right advocates and Lawyers that will do it for you at no cost at all.

Franzeez:

Even if court nullifies it 10 times and the election is held 20 times Saraki will win

You may be wrong you know.

If his superiors want him to loose they will just 'condition' him and all the 108 voters. There are several legal ways of 'conditioning' a mortal.

IsraeliAIRFORCE:
The APC failed to get the message ed to them and to the Executive by the Red Chamber this week.
It says 81 Senators out of living 108 senators ed a vote of confidence on Senate leadership.
What part of the resolution is ambiguous.
Saraki was voted by 52% and certified by 75% (a super majority) of the Senators.

Well history has thought us that things are not always what they seem to be. In this Nation four Senate Presidents were voted in and replaced in four years by 'majority'. These Senate Presidents received many important visitors, had many votes-of-confidence, and many media showboating but they still fell to the banana peel.

Saraki current and subsequent actions will dictate where he will be placed in the annal of this nation.

The Buhari we know will never be under pressure to probe any malfeasance.

The only possible pressure would be from the content of the list : Ex HOS? Buharis campaign financiers? Strong or loyal APC ?

sabbath316:
There were strong indications that the All Progressives Congress governors on Friday failed to take a decision on the crisis rocking the party’s caucus in the Senate.
Saturday PUNCHreliably learnt that the governors, who met in Abuja late Thursday evening, were divided over how the crisis should be handled.
Investigations showed that some of the governors argued that the Senate President, Bukola Saraki, should apologise to the party at a meeting to include its leadership and of the opposing sides in the crisis.
But it was learnt that others differed on the grounds that governors should await the decision of the Ministry of Justice on the police report on the alleged forgery of the Senate Standing Orders 2015.
The police, in the report sent to the Ministry of Justice on Monday, established that the standing orders used for the inauguration of the eighth Senate were forged.
In its recommendations, the police reportedly stated, “This practice, where some group of senators amends the rules of the senate without following legal procedures, is not only criminal, but portends danger for our growing democracy and should be discouraged.”
The police asked the justice ministry to vet the report and determine whether it constitutes a criminal offence or should be treated as an internal affair of the Senate.
Saturday PUNCHlearnt that some governors, who seemed to favour Saraki, canvassed for a quick resolution of the crisis.
The governors, who were said to have included Aminu Tambuwal of Sokoto State, reportedly warned that any delay in resolving the crisis would impact negatively on the party and the istration of President Muhammadu Buhari.
The governors suggested that a meeting of parties to the crisis should be convened in the next one week, where Saraki should apologise to the party leaders and the President.
It was learnt that there were others, including the Kaduna State Governor, Nasir El-Rufai, who said the forum should wait for the decision of the justice ministry on the forgery of the Senate Standing Orders.
Such governors were said to have argued that Saraki twice violated the constitution and defied the party’s leadership.
They were said to have cited the forged standing order and the disregard for the party’s directive on the appointment of principal officers.
It was also learnt that at the meeting, the Edo State Governor, Adams Oshiomhole, who headed a peace committee set up by the governors on the crisis, briefed the forum on the efforts so far made by the to resolve the issue.
Investigations shared that the Oshiomhole-led committee lamented that the crisis in the Senate was dragging too long.
A source, who spoke on condition of anonymity, because he was not authorised to speak to the media about the meeting, said, “The governors have not taken any decision on the senate crisis. Saraki’s repeated disrespect of the party does not help the matter. At the meeting, some governors expressed the view that the crisis should be resolved once and for all, while others were not happy with Saraki’s disrespect for the party’s leaders, including the President.
“Such governors insisted that the forum should wait for the decision of the justice ministry on the police report on the forgery of the 2015 Senate Standing Orders. They prefer the prosecution of everyone involved in the forgery.”
It was learnt that the governors, who were not happy with Saraki, argued that treating Saraki’s case with levity would set a bad precedence in the party.
http://punch.cdn.ng/wp-content/s/2015/07/Senate-President-Bukola-Saraki-360x225.jpg

You can not quickly resolve by forcing other reasonable people to endorse forgery, brigandry and arrogance. Aminu Tambuwal and other Govs having Saraki back should realize Saraki's actions so far are direct attack on other APC colleagues and APC.

Common sense followers will be happy at the 2 options emanating from the APC Govs meeting but the main actor in this drama has had opportunities to make amend several times but he chose to give Elders blur eye at every opportunity.

Buhari and other opposing leaders are not as stupid as the 'young turks' appear to believe. They can forgive mistakes but they know when mistakes become bullets.

femiranking28:
Does it mean the Nigeria branch was not working

Its not a local issue its a 'mini-recession' affecting the world economy. Job losses and decline in many economies will continue for a while.

Could someone attach this news to the NASS memo. Some of us have been campaigning to let these people see global economic decline so that they can also drastically slash their income to show they really care about common people.

HungerBAD:
Brb

Hon. Gbaja you are now becoming an Elder. No be all gist Elder fit lay for market.

Congratulations to NPF. May they continue to grow in good measures.

hmmm.

Good let this bunch unite so we can easily identify them for what they have always stood for.

President Buhari should take a journey back into 2003 where 7 ANPP Govs won their election on his name. He should how some of them eventually left ANPP and how the remaining ones pushed him out of the party.

Buhari is the reason many of these people won their election 2015 and here they are repeating history.

Most of these people do not believe in Buhari's principles and are obviously uniting to form an opposition to his cleaning exercise.

My joy is that none of them is bold enough to confront Buhari or speak against him publicly but it is time to start seeing them for what they are.

They forge their own rules and sweeping it under the carpet, they are just 109 in number and they are alleged to be gulping 10-20% of the national budget annually.

We the masses are happy Sarraki is defending his past service with the EFCC .We want to see aech of these Senators also giving of their past public service soon.

We also want their income to be published in national dailies. As tax payers we deserve to know what all elected officials are earning.
Ngozi Iweala has started this method but can be consolidated now under a more discipline President.

Can Senator Ben Bruce, Dino Melaye or Sani Shehu bring this news to their colleagues attention.

The downward economic trend is going to continue for a while and the NASS should start aligning themselves to the reality of the global economy.

This is the only way you can show you care and earn common man respects.

Happiness87:
it seems you don't know Buhari's real enemy??
if saraki is a thief, what is Thienubu, a rogue, i guess

My sister I know Buhari's real enemies.

One of them is the one that Buhari didnt to occupy the Senate seat reserved for his party but went on to connive with other virulent enemies to get the seat at all cost.

Tinubu has no constitutional responsibility in Nigeria now so why should we worry about him.

Mr. Chukwudi time to put your money where your mouth is.

Once PMP submit his nominees to the Senate I want you to identify the Tinubus candidates.

I will stake they will all serve their term under PMP government Senate or no Senate

And you will stake and make sure the 'Tinubu boys' never serve under PMB.

Agreed?

chukwudi44:
NO MINISTERIAL NOMINEE BACKED BY TINUBU WILL BE CLEARED BY THE SENATE. THE APC SW POLITICIANS HAD BETTER STAY AWAY FROM TINUBUIF THEY EVER HOPE TO BECOME MINISTERS

I dont Tinubu but I can take a bet if you are willing. Once PMP submit his nominees to the Senate I want you to identify the Tinubus candidates.

I will stake they will all serve their term under PMP government Senate or no Senate

And you will stake and make sure the 'Tinubu boys' never serve under PMB.

Agreed?

chukwudi44:

Lol at least you agree your Jagagban is inconsequential. As for Buhari better wake up, this is not 1984.We are now in2015

My Jagaban? Anyway if I need a foe I will come for Saraki before ing Tinubu - that has not changed the history and achievements of both men.


If Saraki is man enough he should just ignore the 'inconsequential Jagaban' and face the real deal. Let see him start roaring like a true lion.

chukwudi44:

When the time comes you will know between your useless and inconsequential Jagagban and the Nigerian Senate who is more powerful

I wish I could 'the Jagagban' as you allege but sorry you have the wrong guy. But I will pick the Jagagban over the Saraki a million times.

My own interest is to see the Buhari-led government succeed and as far I can see a Saraki-led Senate is a drag.

Saraki history reek of theft and brigandry name it.

I am interested in when he would be bold enough to come out against PMB ; he should stop running at Tinubu for shield.

Nothing new. People with humble background are expected to be of positive influence on the grassroots.

But so far Sir you are a dangerous symbol for youths and children.

Gov. Fayose should take a mask day out. He should show some random children his pre-election videos and see what the children truly feel about him.

Honesty remains the best legacy.

People voted APC into power and we do not expect APC Government to give important positions to enemies that do everything to pull them down.

Will Buhari import Angels from Heavens to man positions? There are many resourceful and honorable men and women in APC fold. PMB should please focus more on governance and ignore these distractors.

senier007:
Twenty senators of the Northern caucus of the All Progressives Congress in the Senate, who with 59 others co-sponsored the confidence vote ed on the leadership of the legislative body, Thursday, denied working against the interest and agenda of President Muhammadu Buhari.
The Nation had published a report, alleging that the Northern senators aligned with their Peoples Democratic Party counterparts to team up “with the opposition to work against President Muhammadu Buhari and the ruling party”.
However, at a press briefing on Thursday, the Chairman, Senate ad hoc committee on Media and Publicity, Dino Melaye, dismissed the allegation on behalf of his colleagues.
Mr. Melaye said the report which dubbed the 22 senators “Anti – Buhari”, “was wicked, satanic and unacceptable because all of them actually worked for Buhari’s victory at the poll and had determined to ensure the success of his istration”.
He also alleged that the sponsors of the publication were “actually the real enemies of the president because their action was capable of causing disunity between the South and the North.”
He added that the publication was a great disservice to the nation, stressing the commitment of the and leadership of the 8th senate to the efforts of ensuring the success of Mr. Buhari’s agenda of moving the country forward.
Mohammed Shittu, Jigawa State, recited Quranic verses and rained curses on the writers and sponsors of the publication, describing them as enemies of Nigeria.He held that those who invited APC senators to the International Conference Centre for a purported meeting with the President on the day of the inauguration, were the real enemies of Mr. Buhari.
Binta Garba, Adamawa State, added that there was no way she could be part of any agenda working against Mr. Buhari, when the North East zone from where she hails relies on the president to defeat Boko Haram.
Earlier at the plenary, the Senate President, Bukola Saraki, ruling on a point of order by the Senate Leader, Ali Ndume, on the matter, asked its committee on Ethics and privileges, to investigate the publication, the publisher, and the writer to ascertain the intention and submit its report within a week.
Meanwhile, Mr. Ndume’s claim that the publisher of the Nation newspapers was behind the report apparently hit a raw nerve in Oluremi Tinubu, from Lagos State, who protested the claim.
Source: http://www.timesng.com/news/top-news/187547-senate-orders-newspaper-probe-over-anti-buhari-report.html?utm_source=&utm_medium=twitter

Investigate and do what? Arrest? Prosecute? Convict?

When you start earning reasonable income we will start respecting or taking you serious. For now you all remind us of 'fat ones' in the famine land.

Could we start tracking allowances, budgets, and general spending of the NASS. These people need close monitoring to remind them the whole world is going through some form of belt-tightening.

ed

We the youths are watching you all!

We are learning from you and many will remind you of this in future

Buhari and APC should not be carried away by PDP sweet talk.

This is the same way they promised they would allow APC to freely select their House Leaders but refused to sleep nights to election day.

PDP are up to something again. For 16 years these people's traits have never changed and hardly ever been in the interest of the masses.

I hope PDP will just allow APC to enjoy the benefits of being the leading party in the House.

PDP enjoyed all these benefits in full for 16 years and hardly ever allowed outsider to share with them.

All the problems APC is having now were started by PDP to destroy Buhari's government.

PDP should not celebrate yet.

APC appears to have achieved some peace in the HoR and now they will have all the time to fight for their right in the Senate.

It is difficult to believe this news as displayed if the events of the last few days are anything to go by.

It is safe to give this news a minimum of 24 hours to believe it.

We are still searching for the authors of Senate Standing order 2015.