Thursday, July 23, 2009 ABUJA: Nigeria's oil production has been cut to about 1.5 million barrels of crude per day -- less than half of its capacity -- by rebel attacks in the main producing region and the international economic crisis, Petroleum Minister Rilwanu Lukman said Wednesday."Our daily production is around 1.5 million barrels of crude and about 500,000 barrels of condensate and natural gas liquid, around two million barrels if you add the condensate with the oil," Lukman said. The minister said "more than half of our capacity" is lost because of militant activities in the Niger delta and the international crisis. "When the market calls for more, we are ready to supply and when the situation in the Niger delta improves, we will be in a position to supply more," Lukman said.Nigeria, an OPEC member, is the world's eighth largest oil producer.
Sunday, February 28, 2010 HAVANA: Hundreds of wealthy merchants and cigar aficionados from all parts of the world gathered in Havana this week to bid high stakes for humidors full of premium cigars. Cuba's annual Habanos festival ended on Friday night with an auction of ornate humidors of cedar and mahogany stacked with hand-rolled stogies that raised 800,000 euros ($1.09 million dollars). Habanos S.A. executives this month said cigar sales fell 8 percent to $360 million in 2009, so they have created the Julieta, a smaller, milder version of the Romeo y Julieta cigar, aimed specifically at female smokers. Women now make up only 5 to 10 percent of customers for Habanos. But even with the creation of the Julieta, Garcia said Habanos has only modest hopes for 2010 sales, due largely to a weak economy in Spain, the biggest market for Cuban cigars. The flavor of premium tobacco relies on the soil and climate in which it is grown. The western province of Pinar Del Rio, famous fo...
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