The Nigerian National Petroleum Corporation, NNPC, is currently shopping for $1 billion to revamp Nigeria’s biggest refinery located in Port Harcourt, Rivers State. To realise its plans, the nation’s oil company is already in high-level discussion to raise the money via a prepayment deal with trading firms. If the financing is successful, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. It would also mark Nigeria’s second oil-backed financing since the COVID-19 pandemic that has added to the difficulty of finding investors as fuel demand is sapped by lockdowns and renewable energy is gaining ground over fossil fuels. The money would be repaid over seven years through deliveries of Nigerian crude and products from the refinery once the refurbis...
Leeds boss kicks against fans returning to stadiums
Marcelo Bielsa has demanded Premier League chiefs block fans returning to grounds until all 20 top-flight clubs can reopen their turnstiles. Under the new Covid tier system, half of Premier League clubs will still not be allowed supporters from Wednesday, while the other ten can have 2,000. Leeds are in Tier 3 and must keep fans locked out – with boss Bielsa saying: “If fans are not allowed in all stadiums, then they should not be allowed until everyone can. “Clubs shouldn’t have to deal with the consequences of being in a category. It should be about trying to maintain the competition as equally as possible.” Arsenal will become the first Prem team to welcome fans back since March when they host Rapid Vienna in the Europa League on Thursday. While West Ham’s Prem clash with Manchester Uni...