The International Energy Agency (IEA) has again reviewed its oil demand forecast for 2024 downward, citing weaker deliveries from the Organization for Economic Cooperation and Development (OECD) countries for its latest action. The IEA’s latest oil report shows a slower global oil demand growth of 1.6 million barrels per day (mbbl/d) in the first quarter […]
The Federal Government has restated its commitment to bridging the metering gap and other constraints in the nation’s power sector through investments in critical technological tools and solutions and by so doing boost electricity supply nationwide. The Special Adviser on Energy to Nigeria’s President, Olu Verheijen, made the pledge in her contributions at the 2024 […]
The International Energy Agency (IEA) has projected that supply cuts by some oil producing countries may not affect oil surplus in 2024. The head of the agency’s oil markets and industry division, Toril Bosoni, was quoted in a news report by Reuters as making the forecast on Tuesday during an interview. Bosoni, who shared some […]
The Executive Director of the International Energy Agency (IEA), Fatih Birol, has expressed the agency’s concern about the escalating Israeli-Palestine war at the Gaza strip in view of the potential negative implications for the stability of the global oil market. Birol, who expressed his concern during an interview with S&P Global Commodity Insights, warned that […]
The International Energy Agency (IEA) has projected that fossil fuels’ share in global energy supply would drop to 73% by 2030 and carbon dioxide emissions peaking by 2025 despite the fact that global oil demand would peak this decade at about 102 million barrels per day (mbd) for two more decades. The agency, in its […]
The Organization of Petroleum Exporting Countries (OPEC) on Thursday disclosed that fossil fuels continue to make up 80% of the global energy mix. The oil cartel, in a statement debunked the assertion by the International Energy Agency (IEA) that fossil fuels demand would peak before 2030, adding that the assertion is not made on data-based […]
…..as fuel pump price may further surge Data from the international oil market indicated that Brent crude oil was priced at $91 per barrel on Tuesday, sustaining its increase over the past few days after which it reaching a 10-month high of $90 per barrel precisely a week ago. The surge in prices of Brent […]
The International Energy Agency (IEA) has disclosed that Africa’s bond market total is still less than $1 trillion, which is just less than 1% of the global total. The agency, in its just released September 2023 report on energy financing in Africa, noted that the bond market on the continent was still in its growth […]
The International Energy Agency (IEA) has charged global leaders on the need to address emissions from gas supplies, in spite of natural gas increasing roles in rapidly growing world’s energy markets. The Executive Director of the global organization, Fatih Birol, gave this charge during the July 18 LNG Producer-Consumer Conference which held in Tokyo, Japan. […]
The Organization of Petroleum Exporting Countries (OPEC) has expressed optimism about oil demand growth prospect next year despite the current market slowdown in the global market. Sources close to the oil cartel hinted that it would likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later […]