"MTN has paid 30 billion naira (USD 98 million, 92 million euros) as part of the fine," Tony Ojobo, spokesman for Nigeria Communication Commission (NCC) told AFP.
An oil price rally has already stumbled since the deal, but Nigeria and Libya are not to blame. Output from both nations has slipped since December and violence in the two African states makes their ambitions to hike production look optimistic.
The company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai has signed a contract for providing operations and maintenance services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria
The assaults on African nationals in India last year were "sporadic" in nature, Vice President Hamid Ansari today said, underlining that the issue was raised at diplomatic level by some of the respective countries but India's response was "comprehensive".
The company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai has received Letter of Intent (LOI) for a contract of approximately USD 57 million.
Pharmaceutical stocks have traditionally been considered defensive safe havens because demand for medicines doesn‘t depend on the economic cycle
In an interview to CNBC-TV18, Abhishek Deshpande, Oil Market Analyst at Natixis shared his reading and outlook on crude oil.
Three OPEC sources told Reuters a gathering of experts from the oil producer group in Vienna had decided on Tuesday to recommend that a ministerial meeting on Nov. 30 debate a proposal from member Algeria to reduce output by that amount.
The second meeting of the High-Level Committee began at 0930 GMT. The committee is a technical body comprised mainly of OPEC governors and national representatives - officials who report to their respective ministers.
The USD 600 million loan was the "first tranche of a USD 1 billion budget support loan" to help the West African country overcome a recession, the AfDB said in a press release.
Two-wheeler maker Bajaj Auto's profit is likely to increase 9.3 percent year-on-year to Rs 1,020.6 crore but revenue may be flat at Rs 6,103 crore against Rs 6,097.8 crore due to tepid volume growth.
Oil Minister Dharmendra Pradhan discussed with Emmanuel Ibe Kachikwu, Minister of State for Petroleum of Nigeria the potential in diversifying the engagement of two countries in the hydrocarbon sector.
The sale is part of government plans to borrow USD 5 billion from abroad for capital infrastructure projects to boost Africa's largest economy.
Crude prices are seeing gains since the last two days on account of a drop in the dollar index, says Mriganka Jaipuriyar, Associate Editorial Director, Platts.
The centre has been established in Kaduna, Nigeria under the Cotton Technical Assistance Programme for Africa which is being implemented by the Indian Department of Commerce. It was inaugurated on June 22.
Speaking to CNBC-TV18, S Ravikumar of Bajaj Auto said while the industry grew 7 percent in the motorcycle segment, the company's grew 9 percent.
BoAML sees an impact of less than 2 percent on GCPL‘s FY17 earnings per share (EPS) due to a pressure on margins in the Nigeria business in the near term and loss in translation to Indian rupee.
Japanese yen strengthened sharply to 104.1 per dollar against the dollar after the Bank of Japan kept monetary policy steady as expected. Japanese yen is at strongest levels since September 2014.
Nigeria's central bank previously pegged the naira at 197 to the US dollar but the currency trades at about half that on the black market as slump in oil revenues has hammered public finances and foreign currency reserves. The new trading rules begin on Monday, Central Bank Governor Godwin Emefiele said.
2016 maybe the "year of reckoning" for some OPEC member countries, RBC Capital Markets warned on Tuesday, ahead of the oil cartel's meeting in Vienna this week.
Talking about the Organisation of Petroleum Exporting Countries (OPEC) meeting scheduled for June 2, Amrita Sen expects no "fireworks" from it and says that there is a slim chance that all members would agree on a production level.
The Serious Fraud Office (SFO) is looking at the company's former energy activities in Nigeria, as part of a broader corruption investigation that also includes Brazil, China and Indonesia, the business newspaper said without citing its source.
In an interview with CNBC-TV18, David Hufton, MD of PVM Oil Associates, said the recent surge in oil prices was supply issues triggered by outages in some oil producing countries.
The drop in Nigeria‘s oil production due to resurgence of militant activity in the southerly Delta has a significant impact on the global front, says Miswin Mahesh, Energy Analyst at Barclays.
A sharp fall in exports, led by turmoil in Nigeria, was offset by high growth in domestic markets for the month of April for Bajaj Auto, says S Ravikumar, President, Business Development.