Nigerian President Muhammadu Buhari has reportedly approved amnesty for members of the Boko Haram terrorist group, a Nigerian news outlet reported Thursday. The country's leader was expected to make a public announcement after negotiations with the militants have progressed, an anonymous source close to the president reportedly told the Breaking Times.
At least six people have been confirmed dead, four missing and over sixty seriously injured when Typhoon Soudelor hit Taiwan early this morning Saturday August 8th. Taiwan Power, the island's main power company, said 2.94 million households are currently without power. Hundreds of flights have been delayed or cancelled, according to Taiwan authorities.
A Bangladeshi blogger has been hacked to death by a gang armed with machetes at his home on Friday. Niloy Neel, known for his atheist views and criticism of Islam is believed to be the fourth secularist blogger to have been killed this year by suspected Islamist militants in Bangladesh.
It is too late for OPEC to stop the shale revolution. The cartel faces the prospect of surging US output whenever oil prices rise
If the oil futures market is correct, Saudi Arabia will start running into trouble within two years. It will be in existential crisis by the end of the decade.
The contract price of US crude oil for delivery in December 2020 is currently $62.05, implying a drastic change in theeconomic landscape for the Middle East and the petro-rentier states.
The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood themarket and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn.
Bank of America says OPEC is now "effectively dissolved". The cartel might as well shut down its offices in Vienna to save money.
If the aim was to choke the US shale industry, the Saudis have misjudged badly, just as they misjudged the growing shale threat at every stage for eight years. "It is becoming apparent that non-OPEC producers are not as responsive to low oil prices as had been thought, at least in the short-run," said the Saudi central bank in its latest stability report.
F1 star Jenson Button and his wife have been gassed in their holiday villa in the south of France by a gang of burglars, according to reports. The 35-year-old racing star and his partner model Jessica Michibata, 30, were rendered unconscious by the gang who stole her £250,000 engagement ring on Monday night.
It is believed they piped anaesthetic gas into the property through its air conditioning vents before entering the villa in Saint-Trope.