Federal Government

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This current plan of
the management is to provide excess opportunities for jobs and it will reduce
the risks of Oil leakages and the bursts that are caused in the Oil wells, this
was welcomed by most of the people.?

After the large turmoil, the
first deal for exploring oil was successful in the market for Yuli Ofer; it has
currently purchased around ten percent of the drilling license of Sarit for the
Ashdod from Lapidoth Heletz from Luxenburg. The latest declarations made by the
Shamir Investments Swing articulates that, the Ofer will pay around $400,000
for the production of oil , Oil wells which are drilled, the condition of the
Ashdod 3A well and for its licensing. Recently the stocks of Moshe Hershberg
were purchased by Sefen Industries and Investments, managed by Aaron Cohen for
1.67 million, these stocks was bought recently bought by Moshe Hershberg at
$300,000.?

Nigeria has lost around $100
billion in the Oil investments and Gas investments for the last five years and
the Federal Government has determined to rejuvenate the complete petroleum
industry and to reconstitute the fiscal regime. Nigeria’s failure in Oil
investment and Gas investments was caused by to the comfortless attitude of the
business peoples and the Petroleum Industry Bill, this news was articulated by
the Ms. Ann Pickard, Vice-President of the Africa’s Production and exploring
companies. This was accepted by the Federal Government and several studies and
an examination took place to find a resolution for this issue and was ended by
making around 56 changes was done in the reaction proposed by? Oil Producer Trade Section.

Dr. Emmanuel Egbogah, the Special
Adviser for the President on the Petroleum issue was addressing the business
tycoon in Lagos at the Petroleum Club, mentioned that the Petroleum Industry
Bill was revised and it is submitted to National Assembly for their
approval.? House of Representatives and
the Senate were assembled for enactment of the revised Petroleum Industry Bill
and the Federal Government will take necessary measures for the development in
the Oil and Gas industry.

Brazilian central bank declared
that, around $367 million is invested by the China’s largest offshore explorer
of oil and natural gas, Cnooc Ltd., and this may lead more direct investment
and enhancement of the raw materials in Britain. Brazil is the leading
manufacturer of coffee and sugar and the second biggest in the of soybeans
production.

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