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By Kolawole Ojebisi Barring a last-minute reconsideration of their decision, the electricity distribution companies, particularly those in the southwest, in Nigeria will welcome their teeming customers to the month of July with a hike in electricity tariff. According to the message put out on its verified twitter handle, the Abuja Electricity Distribution Company(AEDC)has increased electricity…
June 27, 2020
Saudi Arabia made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March. The Kingdom's oil exports jumped by 3.15 million bpd to 11.34 million bpd in April. By Tsvetana Paraskova Saudi Arabia made good on its promise to flood the market with oil after…
June 25, 2020
Ask NPDC To Take Over Asset From NECONDE ...Seek FG's Probe Of Current Operator From Joseph Obukuta (The New Diplomat's N/D Correspondent) Aggrieved host communities' members in Odidi and Batan, Warri Southwest local government area of Delta State, have shut down production activities at Oil Mining Lease (OML) 42. OML 42 is operated by Nigerian…
June 21, 2020
By Hamilton Nwosa (Head, The New Diplomat's Business and Data Tracking Desk) The International Energy Agency(IEA) based in Paris has projected that Oil demand may not recover to its pre-pandemic dynamics until 2022 at the earliest. According to the IEA, this projection is premised on oil surplus flowing around the world, a development that has…
June 17, 2020
Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July as China’s crude imports hit an all-time high in May. Brent crude was up 51 cents, or 1.2 per cent, at $42.81 per barrel, by 0628 GMT, while U.S. West Texas Intermediate (WTI) crude…
June 8, 2020
Nigeria’s  Minister of State for Petroleum, Chief Timipre Sylva has explained that the Federal government is determined to adhere to the resolutions agreed upon by both members of the Organization of Petroleum Exporting Countries (OPEC) and non-member countries of OPEC last Saturday to further extend the timelines for crude oil production cut. It would be…
June 8, 2020
A Relief Plan For Emerging Markets By Patrick Bolton, Lee Buchheit, Pierre-Olivier Gourinchas, Mitu Gulati, Chang-Tai Hsieh, Ugo Panizza, Beatrice Wede di Mauro To fight the coronavirus pandemic and the economic devastation it has caused, countries around the world have piled on extraordinary amounts of debt. For the developed countries of East Asia, Europe, and…
June 8, 2020
The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of the postponement of multiple final investment decisions (FIDs) on projects and lower investments in offshore oil and…
June 8, 2020
As Russia, Saudi Arabia, Nigeria, Algeria, Canada, Others Fail To Meet To Agree On Extending Output Cuts Oil prices dipped Thursday morning after hitting $40 per barrel on Wednesday as concerns mount over the prospect of holding a crucial OPEC+ meeting to agree on further oil output cuts among major producers. The oil cuts have…
June 4, 2020
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By Kolawole Ojebisi Barring a last-minute reconsideration of their decision, the electricity distribution companies, particularly those in the southwest, in Nigeria will welcome their teeming customers to the month of July with a hike in electricity tariff. According to the message put out on its verified twitter handle, the Abuja Electricity Distribution Company(AEDC)has increased electricity…
June 27, 2020
Saudi Arabia made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March. The Kingdom's oil exports jumped by 3.15 million bpd to 11.34 million bpd in April. By Tsvetana Paraskova Saudi Arabia made good on its promise to flood the market with oil after…
June 25, 2020
Ask NPDC To Take Over Asset From NECONDE ...Seek FG's Probe Of Current Operator From Joseph Obukuta (The New Diplomat's N/D Correspondent) Aggrieved host communities' members in Odidi and Batan, Warri Southwest local government area of Delta State, have shut down production activities at Oil Mining Lease (OML) 42. OML 42 is operated by Nigerian…
June 21, 2020
By Hamilton Nwosa (Head, The New Diplomat's Business and Data Tracking Desk) The International Energy Agency(IEA) based in Paris has projected that Oil demand may not recover to its pre-pandemic dynamics until 2022 at the earliest. According to the IEA, this projection is premised on oil surplus flowing around the world, a development that has…
June 17, 2020
Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July as China’s crude imports hit an all-time high in May. Brent crude was up 51 cents, or 1.2 per cent, at $42.81 per barrel, by 0628 GMT, while U.S. West Texas Intermediate (WTI) crude…
June 8, 2020
Nigeria’s  Minister of State for Petroleum, Chief Timipre Sylva has explained that the Federal government is determined to adhere to the resolutions agreed upon by both members of the Organization of Petroleum Exporting Countries (OPEC) and non-member countries of OPEC last Saturday to further extend the timelines for crude oil production cut. It would be…
June 8, 2020
A Relief Plan For Emerging Markets By Patrick Bolton, Lee Buchheit, Pierre-Olivier Gourinchas, Mitu Gulati, Chang-Tai Hsieh, Ugo Panizza, Beatrice Wede di Mauro To fight the coronavirus pandemic and the economic devastation it has caused, countries around the world have piled on extraordinary amounts of debt. For the developed countries of East Asia, Europe, and…
June 8, 2020
The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of the postponement of multiple final investment decisions (FIDs) on projects and lower investments in offshore oil and…
June 8, 2020
As Russia, Saudi Arabia, Nigeria, Algeria, Canada, Others Fail To Meet To Agree On Extending Output Cuts Oil prices dipped Thursday morning after hitting $40 per barrel on Wednesday as concerns mount over the prospect of holding a crucial OPEC+ meeting to agree on further oil output cuts among major producers. The oil cuts have…
June 4, 2020
