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IEA Executive Director, Fatih Birol

IEA: Global green energy growth to fall for first time in 20 years

Global growth in new renewable energy capacity will experience its first annual decline in 20 years, this year amid the coronavirus pandemic.
NECA’s Director-General, Mr Timothy Olawale, who made the call on Tuesday in Lagos, called for more specific and direct business sustainability schemes, to save the private sector.

2020 budget: OPS backs proposed $20 oil price benchmark

Members of the organised private sector (OPS) and some analysts have hailed the plan by the federal government to further review downward the oil price benchmark in the 2020 budget to $20 per barrel.
Inovio CEO Joseph Kim said that the company designed DNA vaccine INO-4800 in just three hours after the genetic sequence of the novel coronavirus that causes COVID-19 was published.

Latest update on coronavirus worldwide

Since the novel coronavirus first emerged in late December, 2019, 110,564 cases have been recorded in 100 countries and territories, killing 3,862 people, according to an AFP toll based on official sources on Monday around 1100 GMT.

Oil prices rise on OPEC deficit forecast

Oil prices rose on Thursday, recouping some of the previous session’s losses after OPEC forecast a supply deficit next year and the U.S. Federal Reserve said the economic outlook was favorable.

Oil falls as US-China trade deal prospects dim

Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.
US crude oil

IEA: Global oil demand growth to slow from 2025

Global oil demand growth is expected to slow from 2025 as fuel efficiency improves and the use of electrified vehicles increases but is unlikely to peak in the next two decades, the International Energy Agency said on Wednesday.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Oil benchmark lowered over expected crude glut – minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.
Wole Soyinka

Wole Soyinka to review Keith Richards’ ‘Never Quite The Insider’ book

Nobel Laureate, Professor Wole Soyinka, will be a special guest to review Chief Keith Richards’ latest book, “Never Quite the Insider: a Nigerian Memoir” in Lagos on Thursday, 17 October, 2019.

Climate change: Nuclear power game changer – IAEA

Climate change is one of the greatest challenges of our time and the goal of reducing greenhouse gas (GHG) emissions will be difficult to achieve without a significant increase in the use of nuclear power, IAEA Acting Director General Cornel Feruta said today.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

IEA: OPEC deal won’t alter fundamental outlook for oil market

The recent decision by oil-producing countries to prolong cuts in output will not fundamentally change the outlook for a market that is heavily oversupplied, the IEA said on Friday.
Iraq’s Oil Minister Thamer Ghadhban

Iraqi minister assures oil customers of production capacity

Iraq’s oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day (bpd) if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply.

Brent oil rises back above $80 as Iran sanctions loom

Brent crude oil prices rose back above $80 a barrel on Monday as markets were expected to tighten once U.S. sanctions against Iran’s crude exports are implemented next month.

COREN approves engineering accreditation programmes in 19 institutions

The Council for the Regulation of Engineering in Nigeria (COREN), has approved requests of 19 institutions for the accreditation of their engineering programmes in the country.

Oil rises on Iran sanctions, lower US fuel inventories

Oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.

Oil prices hit $80, highest since November 2014

Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall due to renewed U.S. sanctions and reduce supply in an already tightening market.

IEA: Global crude oil stock surplus shrinks

The International Energy Agency said on Friday that the international oil market could become too tight if supply remains restrained by OPEC and its allies as global oil stocks have diminished.

Oil heads for biggest weekly gain as price of Brent heads for $80

Oil prices rose higher on Friday, heading for their after U.S. President Donald Trump’s comments about possible military action in Syria and reports of dwindling global oil stocks.

Oil prices jump, Brent hits approximately $70

Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose.

Recent Stories

The late Ondo Health Commissioner Dr Wahab Adegbenro was buried in Ilara- Mokin according to Muslim rites.

Late Ondo commissioner laid to rest

The late Ondo Health Commissioner Dr Wahab Adegbenro was buried in Ilara-Mokin, according to Muslim rites.
Following the reported and confirmed case of coronavirus in Lagos State, the Ondo State Commissioner of Health, Dr Wahab Adegbenro, on Saturday said the state’s emergency medical response team has been activated.

Ondo declares seven-day mourning for commissioner as first lady tests positive for coronavirus

The Ondo State Government has directed all flags in the state to fly at half mast for seven days to mourn the late Wahab Adegbenro, the state’s commissioner for health who died on Thursday.
Riyad Mahrez has taken to social media to express the joy of Manchester City’s 4-0 win over Liverpool on Thursday, although he wished it was by a bigger margin.

Riyad Mahrez wishes Manchester City win over Liverpool was bigger

Riyad Mahrez has taken to social media to express the joy of Manchester City’s 4-0 win over Liverpool on Thursday, although he wished it was by a bigger margin.
Minister of Humanitarian Affairs and Disaster Management, Sadiya Farouq has declared that her Ministry will focus on the urban poor, National Social Register as well as Bank Verification Number (BVN) to determine who benefits from the distribution palliatives to cushion the biting effect of COVID-19 on Nigerians.

Nigerian government to distribute 19,508 bags of fertilizers flood affected farmers

The Federal Government through the Ministry of Humanitarian Affairs, Disaster Management, and Social Development is to distribute 19, 508 bags of fertilizers to farmers affected by 2018 flooding in five LGAs of Kogi State.

French premier Edouard Philippe resigns

The French government led by Prime Minister Edouard Philippe submitted its resignation Friday ahead of a cabinet reshuffle to be announced “in the coming hours,” the presidency said.