By Udeme Akpan with Agency Report The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks. Reuters, which confirmed the situation, disclosed that despite the coronavirus pandemic, India purchased a bulk of the nation’s crude yesterday. It stated: […]

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 […]