SAIPEM
Bitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even more
Bitcoin’s (BTC) and Ether’s (ETH) agonizing 60% and 66% respective drops in price are drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse, performances. The sharp volatility witnessed in crypto prices is partially driven by major centralized yield and lending platforms becoming insolvent, Three Arrows Capital’s bankruptcy and a handful of exchanges and mining pools facing liquidity issues. For cryptocurrencies, 2022 has definitely not been a good year, and even Tesla sold 75% of its Bitcoin holdings in Q2 at a loss. The quasi-trillion dollar company still holds a $218 million position, but the news certainly did not help investors’ perception of Bitcoin’s corporate adoption. Cryptocurrencies are n...
President Buhari urges stakeholders commitment as NLNG signs Train 7 project construction
Nigeria LNG Limited (NLNG), Bonny, Rivers state, says it has signed Engineering, Procurement and Construction (EPC) Contracts for much-anticipated Train 7 Project with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo. The development signifies the commencement of the Detail Design and Construction phase of the project expected to increase the capacity of NLNG’s current six-train plant by 35% from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. Tony Attah, Managing Director, NLNG, said, “The award of the EPC Contracts clearly demonstrates our Shareholders’ determination and resolve to sustain the economic dividends NLNG’s monetization of our vast natural gas reserves offers Nigeria” Group Managing Director (NNPC) and a Director on the NLNG Board, Mele Kya...
