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Energy transition: Africa to host 2 bn cars by 2040
Sopuruchi Onwuka Nigeria and other developing economies of the world must brace to host about two billion vehicles that are fired with petroleum fuels as the industrialized nations that currently champion the global movement for energy transition plan total switch…
Nigeria turns an OPEC laggard as oil demand surges above 100 mbd
Sopuruchi Onwuka Nigeria’s crude oil production maintained fluctuating trend in December 2021, shedding 43,000 barrels per day to end the year at 1.338 million barrels per day. According to the Monthly Oil Market Report of the Organization of Petroleum Exporting…
2021: Crude oil ruled commodity markets
Sopuruchi Onwuka Despite the vigorous push by the advanced industrial nations and environmental activists in 2021 to accelerate transition of demand from fossil fuels to greener renewable energy, petroleum commodities maintained strong market resilience in both demand and price. In…
JP Morgan sees oil hitting $125 in 2022
Crude oil could soar to $125 per barrel next year and $150 in 2023 due to OPEC’s limited capacity to boost production, JP Morgan analysts said in a new report. “OPEC+ is not immune to the impacts of underinvestment…. We…
Barkindo presents Iran’s OPEC status to Raisi
Sopuruchi Onwuka The Organization of Petroleum Exporting Countries (OPEC) has congratulated the new President of the Islamic Republic of Iran, Ebrahim Raisi, on his electoral victory and assumption of the country’s political leadership. The group which controls supply forces in…
OPEC demands inclusive debate on climate change
Sopuruchi Onwuka Developed economies of the world must balance out the demands for climate remediation with the economic development goals of developing countries in order to activate implementation of the popular Paris Agreement with “with a unified and powerful voice.”…
