Prepare for $80 oil this summer as ‘wounded bulls’ rise, RBC warns

International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets says. The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. Those include steep OPEC supply cuts, robust demand, geopolitical risk […]

Unlocking the $162 billion climate finance opportunity for ‘Corporate Nigeria’

The time has come for ‘Corporate Nigeria’ to divest its interests from the hydrocarbon industry and tap into the  multi-billion dollar climate financing opportunity awaiting local investors who are willing to look into the future that will be dominated by clean technologies and climate finance. Climate change is already influencing the context in which corporate […]

State-owned Ibom Power’s 150mw waste away on poor evacuation infrastructure

Ibom Power plant, a wholly Akwa Ibom State owned electricity generating firm located in the state’s oil-bearing Ikot Abasi, has seen recent impressive generating capacity, churning out 150 megawatts of electricity into the national power grid. But this sadly appears to be a wasted effort, it has emerged. It was discovered that less than half […]

Oil prices rise on potential lengthy OPEC-led oil supply curbs

Oil prices Monday rose to four-month highs, aided by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles. Brent crude settled at $67.54 a barrel, while U.S. West Texas Intermediate crude settled at $59.09 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) and its allies […]

China expands switch from polluting coal heating in 2018 -environment minister

 China expanded its coal-to-gas and coal-to-electricity projects to 35 cities in 2018 from 12 cities the previous year, China’s environment minister, Li Ganjie, said on Monday, as the world’s second-largest economy stepped up its fight against smog. China’s winter heating program used to burn an estimated 400 million tonnes of coal a year, and switching […]