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Rich in renewable energy resources, yet Africa is not fully electrified. Electrification is a catalyst for Socio-Economic development. Challenges include: The migration from traditional methods of electrification to digitalization.Lack of competent policies and financing methods to deal with setbacks.Innovation is growing faster and faster than policies can keep...
Oil rose to a two-week high on hopes that economic stimulus from China can revive demand battered by the coronavirus, and as a number of OPEC nations faced threats to their production. Brent futures increased for a seventh day, the longest run of gains since early 2019, even as Chinese refineries slashed processing by...
A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by the impact of Asia’s deadly coronavirus. Brent futures fell 1.8% to trade below $57 a barrel in London. Citigroup Inc. said that markets are overconfident in expecting a v-shaped recovery and oil...
A long-running oil dispute between Russia and Belarus has for the first time threatened to disrupt supplies to Europe. Belarus will start taking crude from its transit pipeline if shipments from Russia are below the agreed 2 million tons this month, state news agency Belta reported Friday, citing President Alexander Lukashenko. That could jeopardize...
Cost increases and uncertainty in Nigeria’s crucial energy sector could lead to a 35% decline in oil output over 10 years as companies delay investments in key oilfields, consultancy Wood Mackenzie said in new research. In findings shared, the company warned that three deep offshore fields, which would generate $2.7 billion a year for...
Tullow Oil said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields. The permission will assist heavily indebted Tullow to support production at operations that failed to meet their initial output guidance for 2019, contributing to a terrible year that also saw delays at East African projects,...
Two dominant energy industry themes—the move to cleaner energy and digitalisation—can be combined to “positively impact each other”, Shell CTO Yuri Sebregts told the annual meeting of energy technology heavyweight Baker Hughes in Florence on Tuesday. The transition has “begun and is driven by many factors, including economic growth, customer choice, emerging technologies...
Citigroup Inc. slashed its price forecasts for commodities from oil to copper and iron ore as it said the impact of the coronavirus looks much worse than it initially thought. Oil came in for the most severe downgrades, with the bank cutting estimates for the first three quarters. Citi also reduced its first-quarter copper...
Oil prices have increased after a five-day fall on talks that OPEC could extend cuts if the novel coronavirus outbreak hurts economic demand for oil. Financial markets impacted by the spread of the corona disease out of China are in the process of analysing the economic fallout. The coronavirus death toll has reached 132.
Rotimi Amaechi, Minister of Transportation, says the Federal government has approved the building of two new seaports to aid Nigeria's quest to become a shipping hub in the West and Central Africa region.   He made this known while speaking on “Railway Infrastructure: Progress and Plan” at the 2020 National Economic Outlook in Lagos, on Tuesday.   The minister said the...
Oil prices have fallen for the sixth consecutive day as the number of deaths from the coronavirus outbreak in China continues to rise. According to Reuters, Brent crude futures were down $0.51 at $58.81 a barrel. US West Texas Intermediate (WTI) futures were down $0.32 at $52.82 a barrel.

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Oil reaches two-week high on hope for Chinese demand revival

Oil rose to a two-week high on hopes that economic stimulus from China can revive demand battered by the coronavirus, and as...

Oil’s five day rally ends, revealing longer-term price weakness

A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by...

Russia-Belarus oil dispute begins to threaten supplies to Europe

A long-running oil dispute between Russia and Belarus has for the first time threatened to disrupt supplies to Europe.

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