GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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PRESIDENT BUHARI SALUTES RUSSIAN PRESIDENT PUTIN ON RE-ELECTION

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     President Muhammadu Buhari has extended “sincere congratulations” to President Vladimir Putin of Russia on his victory in the recent presidential election in the Asian country.
In a letter on behalf of himself, the government and people of the Federal Republic of Nigeria, the President said Putin’s “success for the fourth time in the election is a clear testimony of the confidence” Russians have in his leadership.
He also urged his Russian counterpart to “see this victory as a base to continue to promote international peace and stability.”
President Buhari assured President Putin of “Nigeria’s commitment to a stronger and mutually beneficial relation with the Russian Federation under your watch.”
He said he looked forward to continue working with the Russian leader “to strengthen our defence, trade and technical partnerships as well as promotion of private sector participation in all sectors of our economies.”
FEMI ADESINA
Special Adviser to the President
(Media & Publicity)  
March 20, 2018.
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