Fast growing European carrier, Turkish Airline, which is making inroads into the Nigerian market, has announced that the 2016 Turkish Airlines World Golf Cup would take place at Ikoyi Golf Club in Lagos, Nigeria, on September 15 for $7, 000, 000 prize for the overall winner in an international golf contest.
The airline said the 84th of 100 qualifiers for the global event, which is enjoying a growing reputation after three hugely successful previous series, would feature 100 players, all personally-invited guests of Turkish Airlines.
After the contest in Lagos, the winner would progress to the Grand Final in Antalya, Turkey, this October, while there would also be memorable prizes for, the runner-up, third place, Best Gross and nearest-the-pin prizes for men and women.
“We are proud to be hosting the latest 2016 Turkish Airlines World Golf Cup qualifier in Lagos. We are excited to be welcoming everyone to the world class facilities at Ikoyi Golf Club. We are sure the players will have a day to remember and wish them all the very best of luck,” TarkanInce, General Manager for Turkish Airlines Lagos, said.
Winners of the Grand Final progress to play in the 2016 Turkish Airlines Open pro-am, while all finalists are to enjoy an eight-night stay in an all-inclusive hotel, two rounds of golf and VIP passes to the Turkish Airlines Open, the $7,000,000 European Tour event, from Thursday to Sunday.
The event is backed by Global Sponsor the Financial Times, with Conte of Florence Official Clothing and Fashion Partner.
Turkish Airlines, which was recently voted Best Airline in Europe for the fifth consecutive year, as well as World’s Best Business Class Airline Lounge and World’s Best Business Class Lounge Dining in 2015, launched the World Golf Cup in 2013.
It featured 12 qualifying events and was won by China’s Han Liang. His prize for victory was partnering world number one and 14-time major champion Tiger Woods in the Turkish Airlines Open pro-am. 2015 winner Neill Bam from Johannesburg proved successful in the 2015 series and went on to partner Rory McIlroy, a once in a lifetime opportunity.
Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd
The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.
The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.
The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.
The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.
Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.
The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.
Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins
Oil Prices Recover from 4 Percent Decline as Joe Biden Wins
Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.
This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.
Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.
On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.
“Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.
“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”
The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.
“There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.
“Either you’re crimping energy demand or consumption behavior.”
Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020
Revenue of OPEC Members to Drop to 18 Year Low in 2020
The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.
EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.
“If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.
The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.
It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.
It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.
“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”
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