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Passengers Grumble Over Rising Luggage Theft at Airports

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  • Passengers Grumble Over Rising Luggage Theft at Airports

Despite efforts to increase security at the country’s airports, cases of passengers losing items in their baggage to unknown persons is on the increase.

Although official figures obtained from the Consumer Protection Department of the Nigerian Civil Aviation Authority showed a little difference in recorded cases in the first three quarters of this year on domestic routes, it was learnt that many cases remained unreported.

Between January and September this year, 2,131 cases of pilferage were reported by passengers on international flights, while 53 cases were officially recorded on domestic routes.

Our correspondent found that most of the cases were not reported by the victims because they often discovered the theft after they had arrived at their final destinations.

One of such victims, Mr. Michael Adegbola, said his baggage was opened and some items taken out of it when he boarded a Virgin Atlantic aircraft from London to Lagos on October 29.

“I left London on the 29th of October on Virgin Atlantic and arrived on the 30th. As usual, I took my two luggage and went home. But on getting home, I discovered that one had been tampered with. I later found out that some of the items I bought for my children had been taken,” he said.

Another victim, Mr. Victor Ani, said he lost a Hewlett Packard mini laptop, which he had in his luggage on his way from Dubai in July, adding that he did not discover the theft until the day after his arrival.

Like Adegbola and Ani, many of the affected people who spoke with our correspondent, said they never had the opportunity to complain officially because they only got to know of the loss of their items when they arrived home or after a few days.

The Chief Operating Officer, Nigerian Aviation Handling Company Plc, Mr. Hassan Yahaya, said passengers were expected to report any discrepancy at the point of collection of baggage at the airports.

“A passenger is expected to report any discrepancy at the point of collection of bag(s), wait for appropriate documentation; collect his or her copy of document as evidence, and follow up with the handler and airline as advised by the customer agent,” he said.

He added that plans were in place for remote monitoring of baggage storage facilities and that maximum penalty would imposed on established culprits.

“There has also been provision of communication gadgets to reach out to passengers who missed their luggage for collection,” he said.

Although efforts to reach the Federal Airports Authority of Nigeria, operators of airports across the country failed, the General Manager, the Public Relations, NCAA, Mr. Sam Adurogboye, said passengers needed to be educated on how to handle their baggage at airports.

He said, “Pilfering is not limited to Nigerian airports or airlines coming in and going out of the country alone; it is a worldwide problem but as a passenger, if you fly an airplane, you check your luggage as soon as you get hold of it on arrival.

“Check before leaving the terminal and if you discover any pilfering, you report to the airline immediately. But if you wait till you get home, nobody will take responsibility for that. Passengers need to know that nobody is responsible for them anymore when they leave the airport.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Crude Oil

Oil Dips Below $62 in New York Though Banks Say Rally Can Extend

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Oil Dips Below $62 in New York Though Banks Say Rally Can Extend

Oil retreated from an earlier rally with investment banks and traders predicting the market can go significantly higher in the months to come.

Futures in New York pared much of an earlier increase to $63 a barrel as the dollar climbed and equities slipped. Bank of America said prices could reach $70 at some point this year, while Socar Trading SA sees global benchmark Brent hitting $80 a barrel before the end of the year as the glut of inventories built up during the Covid-19 pandemic is drained by the summer.

The loss of oil output after the big freeze in the U.S. should help the market firm as much of the world emerges from lockdowns, according to Trafigura Group. Inventory data due later Tuesday from the American Petroleum Institute and more from the Energy Department on Wednesday will shed more light on how the Texas freeze disrupted U.S. oil supply last week.

Oil has surged this year after Saudi Arabia pledged to unilaterally cut 1 million barrels a day in February and March, with Goldman Sachs Group Inc. predicting the rally will accelerate as demand outpaces global supply. Russia and Riyadh, however, will next week once again head into an OPEC+ meeting with differing opinions about adding more crude to the market.

“The freeze in the U.S. has proved supportive as production was cut,” said Hans van Cleef, senior energy economist at ABN Amro. “We still expect that Russia will push for a significant rise in production,” which could soon weigh on prices, he said.

PRICES

  • West Texas Intermediate for April fell 27 cents to $61.43 a barrel at 9:20 a.m. New York time
  • Brent for April settlement fell 8 cents to $65.16

Brent’s prompt timespread firmed in a bullish backwardation structure to the widest in more than a year. The gap rose above $1 a barrel on Tuesday before easing to 87 cents. That compares with 25 cents at the start of the month.

JPMorgan Chase & Co. and oil trader Vitol Group shot down talk of a new oil supercycle, though they said a lack of supply response will keep prices for crude prices firm in the short term.

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Crude Oil

Oil Prices Rise With Storm-hit U.S. Output Set for Slow Return

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Crude oil

Oil Prices Rise With Storm-hit U.S. Output Set for Slow Return

Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic.

Brent crude was up $1.38, or 2.2%, at $64.29 per barrel. West Texas Intermediate gained $1.38, or 2.33%, to trade at $60.62 per barrel.

Abnormally cold weather in Texas and the Plains states forced the shutdown of up to 4 million barrels per day (bpd) of crude production along with 21 billion cubic feet of natural gas output, analysts estimated.

Shale oil producers in the region could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output affected, sources said, as frozen pipes and power supply interruptions slow their recovery.

“With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low,” ANZ Research said in a note.

For the first time since November, U.S. drilling companies cut the number of oil rigs operating due to the cold and snow enveloping Texas, New Mexico and other energy-producing centres.

OPEC+ oil producers are set to meet on March 4, with sources saying the group is likely to ease curbs on supply after April given a recovery in prices, although any increase in output will likely be modest given lingering uncertainty over the pandemic.

“Saudi Arabia is eager to pursue yet higher prices in order to cover its social break-even expenses at around $80 a barrel while Russia is strongly focused on unwinding current cuts and getting back to normal production,” said SEB chief commodity analyst Bjarne Schieldrop.

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Crude Oil

Crude Oil Rose Above $65 Per Barrel as US Production Drop Due to Texas Weather

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Crude Oil Rose Above $65 Per Barrel as US Production Drop Due to Texas Weather

Oil prices rose to $65.47 per barrel on Thursday as crude oil production dropped in the US due to frigid Texas weather.

The unusual weather has left millions in the dark and forced oil producers to shut down production. According to reports, at least the winter blast has claimed 24 lives.

Brent crude oil gained $2 to $65.47 on Thursday morning before pulling back to $64.62 per barrel around 11:00 am Nigerian time.

U.S. West Texas Intermediate (WTI) crude rose 2.3 percent to settle at $61.74 per barrel.

“This has just sent us to the next level,” said Bob Yawger, director of energy futures at Mizuho in New York. “Crude oil WTI will probably max out somewhere pretty close to $65.65, refinery utilization rate will probably slide to somewhere around 76%,” Yawger said.

However, the report that Saudi Arabia plans to increase production in the coming months weighed on crude oil as it can be seen in the chart below.

Prince Abdulaziz bin Salman, Saudi Arabian Energy Minister, warned that it was too early to declare victory against the COVID-19 virus and that oil producers must remain “extremely cautious”.

“We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The uncertainty is very high, and we have to be extremely cautious,” he told an energy industry event.

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