By Adeola Badru The Ibadan Electricity Distribution Company (IBEDC) has vowed to meet the expectations of her customers looking forward to enjoying regular power supply during the Ramadan holiday. This is as the company also assured the customers of its readiness and availability of the technical crew to ensure any faults that may arise during […]

Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 29 cents, or 0.9 per cent at $30.68 a barrel by 0431 GMT, while U.S. West […]

Oil prices rose in Asian trade Friday and were set to end the week with strong gains on signs demand is returning as some governments ease tough coronavirus lockdowns. US benchmark West Texas Intermediate gained 4.5 percent to change hands at $24.62 per barrel, and has risen around 25 percent this week. International benchmark Brent […]

By Sebastine Obasi There are indications that the  Covid-19 pandemic will leave the biggest shock in the global energy system in more than seven decades, with the drop in demand this year set to dwarf the impact of the 2008 financial crisis and result in a record annual decline in carbon emissions of almost 8 […]

By Rasheed Sobowale For the first time ever, the US benchmark West Texas Intermediate (WTI) for May delivery ended trading at -$37.63 on Monday. Before the market closed, the WTI oil prices were seen to be dropping sharply, notably below $12, the first time in 21 years. The sharp drop to negative is something that […]