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OPEC has cut its oil demand growth forecast yet again, the fifth such reduction since April. The group cited significant economic uncertainty and China’s zero-Covid policy as the two key factors driving demand lower. In 2023, OPEC believes economic risks are skewed to the downside but that the resolution of Russia’s war in Ukraine could…
November 15, 2022
Nigeria President Muhammadu Buhari has declared that his government will not go back on the planned redesign of N1,000, N500 and N200 notes by the apex bank, the Central Bank of Nigeria (CBN). The President, who spoke in London, the United Kingdom on Wednesday evening shortly after meeting with King Charles 111 at the Buckingham…
November 11, 2022
With the global climate crisis driving action and investment towards energy transition initiatives, Nigerian government and energy stakeholders have been urged to evolve new technologies, strategies and an eco-friendly regulatory environment to stand a good chance of tapping into the avalanche of opportunities in more sustainable energy sources. This much was said by the President…
November 10, 2022
Climate activists in Africa have described the new Africa Carbon Markets Initiative (ACMI) launched at the COP27 in Sharm El-Sheikh, Egypt on November 8 as a further distraction from the real solution to climate change. The ACMI has a 13-member steering committee of African leaders, CEOs, and carbon credit experts, who believe the initiative will…
November 9, 2022
In December, Iran expects to sign an energy agreement with Russian gas giant Gazprom worth around $40 billion, a senior Iranian diplomat was quoted as saying on Wednesday. “We have concluded an agreement worth about $6.5 billion with Gazprom. We hope that the remaining agreements totaling to $40 billion will be signed next month. The…
November 2, 2022
Aviation workers under the aegis of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and Bi-Courtney Aviation Services Limited (BASL), the operators of the terminal have reached a truce. Consequently, the ATSSSAN has called off the strike embarked upon to protest the sacking of 34 workers paving the way for the resumption of…
November 2, 2022
Says Govt Should Get Out Of Company, Oil Sector Despite a change in its nomenclature, nothing has changed in terms of value addition and transparency since the Federal Government commercialised the Nigerian National Petroleum Corporation Limited (NNPCL), transforming it to a private company, Kaduna State Governor, Nasir El-Rufai has said. Governor El-Rufai explained that government's…
October 13, 2022
Debt Servicing To Gulp N6.31trn Pegs Oil Benchmark at $70pb; Oil Production -- 1.67 million barrels per day In what marked his last budget presentation in office, President Muhammadu Buhari on Friday laid before the two chambers of the National Assembly, the proposed N20.51 trillion budget for the 2023 financial year, axing provisions for the…
October 7, 2022
Leading Climate Activist, Nnimmo Bassey has faulted proposal and arguments advanced in support of a Debt-For-Climate (DFC) swap deal as solution to Nigeria’s debt crisis. The New Diplomat recalls that Vice-President Yemi Osinbajo while delivering a lecture at the Center for Global Development in Washington D.C, United States (U.S.) in early September, had said the…
September 24, 2022
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OPEC has cut its oil demand growth forecast yet again, the fifth such reduction since April. The group cited significant economic uncertainty and China’s zero-Covid policy as the two key factors driving demand lower. In 2023, OPEC believes economic risks are skewed to the downside but that the resolution of Russia’s war in Ukraine could…
November 15, 2022
Nigeria President Muhammadu Buhari has declared that his government will not go back on the planned redesign of N1,000, N500 and N200 notes by the apex bank, the Central Bank of Nigeria (CBN). The President, who spoke in London, the United Kingdom on Wednesday evening shortly after meeting with King Charles 111 at the Buckingham…
November 11, 2022
With the global climate crisis driving action and investment towards energy transition initiatives, Nigerian government and energy stakeholders have been urged to evolve new technologies, strategies and an eco-friendly regulatory environment to stand a good chance of tapping into the avalanche of opportunities in more sustainable energy sources. This much was said by the President…
November 10, 2022
Climate activists in Africa have described the new Africa Carbon Markets Initiative (ACMI) launched at the COP27 in Sharm El-Sheikh, Egypt on November 8 as a further distraction from the real solution to climate change. The ACMI has a 13-member steering committee of African leaders, CEOs, and carbon credit experts, who believe the initiative will…
November 9, 2022
In December, Iran expects to sign an energy agreement with Russian gas giant Gazprom worth around $40 billion, a senior Iranian diplomat was quoted as saying on Wednesday. “We have concluded an agreement worth about $6.5 billion with Gazprom. We hope that the remaining agreements totaling to $40 billion will be signed next month. The…
November 2, 2022
Aviation workers under the aegis of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and Bi-Courtney Aviation Services Limited (BASL), the operators of the terminal have reached a truce. Consequently, the ATSSSAN has called off the strike embarked upon to protest the sacking of 34 workers paving the way for the resumption of…
November 2, 2022
Says Govt Should Get Out Of Company, Oil Sector Despite a change in its nomenclature, nothing has changed in terms of value addition and transparency since the Federal Government commercialised the Nigerian National Petroleum Corporation Limited (NNPCL), transforming it to a private company, Kaduna State Governor, Nasir El-Rufai has said. Governor El-Rufai explained that government's…
October 13, 2022
Debt Servicing To Gulp N6.31trn Pegs Oil Benchmark at $70pb; Oil Production -- 1.67 million barrels per day In what marked his last budget presentation in office, President Muhammadu Buhari on Friday laid before the two chambers of the National Assembly, the proposed N20.51 trillion budget for the 2023 financial year, axing provisions for the…
October 7, 2022
Leading Climate Activist, Nnimmo Bassey has faulted proposal and arguments advanced in support of a Debt-For-Climate (DFC) swap deal as solution to Nigeria’s debt crisis. The New Diplomat recalls that Vice-President Yemi Osinbajo while delivering a lecture at the Center for Global Development in Washington D.C, United States (U.S.) in early September, had said the…
September 24, 2022
