RUSSIA LAUNCHES MASSIVE DRONE AND MISSILE BARRAGE ON UKRAINE, KILLING AT LEAST 18 CIVILIANS AND STRIKING KYIV AND MULTIPLE CITIES. (PHOTO).

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 Russia launches massive drone and missile barrage on Ukraine, killing at least 18 civilians and striking Kyiv and multiple cities  Russia carried out a large-scale overnight assault on Ukraine, launching hundreds of drones and dozens of missiles that killed at least 18 civilians and wounded more than 100 others across multiple cities, officials said Tuesday. The strikes hit Kyiv, Dnipro and other regions, with emergency crews working through destroyed residential buildings where some victims were trapped under rubble. In Dnipro, rescuers recovered the bodies of a 3-year-old child and a mother and her 8-year-old son, while officials reported 12 deaths in the city and six in Kyiv. The bombardment stretched from night into daylight, with explosions reported across wide areas of the country. Kyiv residents had been on alert for days after warnings of a major aerial attack, including advisories for foreign diplomats to leave the capital. Despite those warnings, most remained in pl...
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EQUINOR COMPLETES $2B ASSET SALE IN NIGERIA, ENDS 30-YEAR OPERATIONS. (PHOTO).

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 Equinor Completes $2 Billion Asset Sale In Nigeria, Ends 30-Year Operations


Norwegian Company Equinor Completes $2billion Asset Sale In Nigeria, Ends 30-Year Operations


Equinor (EQNR.OL) has finalised the sale of its assets in Nigeria and Azerbaijan for a total of up to $2 billion, marking the conclusion of its 30-year operations in both countries. 


The Norwegian oil and gas company announced the completion of the divestments on Monday, a move first disclosed in 2023, Reuter reports. 


The divestments, which were finalised in recent weeks, are expected to enhance Equinor’s cash flow in the fourth quarter. They align with the company's strategy to optimise its international portfolio. 


"The exits enable investments to deepen further in countries where Equinor can add the most value and build a more focused and robust international portfolio," the company stated, though it did not provide further details.


Equinor aims to increase its international output by 100,000 barrels of oil equivalent per day (boed) by 2030, focusing on new fields in Brazil, the UK, and the US.


In Nigeria, Equinor sold a 20.21% stake in the Agbami oil field, operated by Chevron (CVX.N), to Chappal Energies for up to $1.2 billion, consisting of $710 million in cash and the rest in contingent payments.


The company did not specify how market prices or other factors might influence those contingent payments.


In Azerbaijan, the company sold its 7.27% stake in the Azeri Chirag Gunashli (ACG) field, an 8.71% stake in the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, and a 50% stake in the Karabagh project to Azerbaijan’s SOCAR and India’s ONGC for $745 million.


Equinor’s net production in the first three quarters of 2024 was 24,600 boed in Azerbaijan and 17,700 boed in Nigeria.

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