Benchmark Brent crude oil was down 40 cents a barrel at $74.38 by 1330 GMT. U.S. light crude was 40 cents lower at $67.46. “The bullish afterglow of yesterday’s drop in U.S. oil stocks is fading as concerns over the U.S.-China trade spat return to the fore,” said Stephen Brennock, analyst at brokerage PVM Oil…
A report by Reuters quoting four senior industry sources has hinted that Saudi Arabia has called off plans for the domestic and international listing of state oil giant Aramco, billed as the biggest stock flotation in history. However, early on Thursday, Saudi Arabia’s energy minister issued a denial that the IPO had been called off. “The…
A total of 60 Ogoni women have been trained by a group known as Lokiaka Community Development Centre, on how to monitor the forthcoming clean-up and remediation of hydrocarbon polluted sites in Ogoniland as recommended by the United Nations Environment Program, UNEP. The women, according to the group were selected from oil-impacted communities across the four…
The Federal Government has been urged by groups to make constitutional provision that will guarantee automatic savings of surplus from oil revenue in the Excess Crude Account, ECA. The groups, Shehu Musa Yar’adua Foundation and the Nigeria Natural Resource Charter, made the call as their resolution during a roundtable on savings and stabilisation mechanism for…
Kaduna Electric has said it lost over N50 million worth of equipment and installations to activities of vandals across its franchise states between January and June, this year. According to the company, over 150 attacks were carried out by the vandals on its facilities within the period. A statement signed by the company’s Head, Corporate…
Why is it that Africa, which hosts some of the most abundant mineral and energy resources in the world, is not fully benefitting from this wealth? A significant share of recent new investments for mineral and energy resource exploration and development has been in Africa and this needs to contribute directly to the inclusive prosperity…
National mining experts are examining the draft Economic Community of West African States (ECOWAS) model mining and minerals development Act of with a view of validating its texts. To this end, a three-Day Workshop began in Abuja, Nigeria on the 14th of August 2018 to create a harmonious and regulated environment for the overall sustainability of…
The Coordinator, Food Sovereignty Programme for Friends of the Earth Africa, Mariann Bassey-Orovwuje, has said that the commercialisation of Bt Cotton in the country is not a victory but a breach of law and order. Bassey-Orovwuje was reacting to the recent announcement by National Committee on Naming, Registration and Release of Crops, Livestock/Fisheries varieties at National…
As the government works on continuing abandoned water projects, another reason to complete them in the fastest possible time has come to the attention of many Nigerians and this involves water’s capability to get rid of air pollutants indoors. Based on a study done by avian diseases experts Daniel J. King and Bailey W. Mitchell, water…
Simon Kolawole Some years ago, I was at the Nnamdi Azikiwe University, Awka, Anambra state, for a public lecture. An obviously popular lecturer was invited to the podium to make his contributions. Students went gaga, screaming his nickname and giving him a standing ovation. In the euphoria, he posed elegantly in front of the microphone…