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Banks and insurers in Britain must “fully embed” their approach to dealing with risks from climate change in their business by the end of 2021, Bank of England Deputy Governor Sam Woods said on Wednesday. “There are some areas of our expectations where few barriers exist to full implementation, but...
The landmark Ajakuota-Kaduna-Kano Gas (AKK) gas pipeline project will be completed within budgetary allocation and specifications, President Muhammadu Buhari has assured. The president who gave the assurance at the virtual flag-off ceremony of the project at the Ajaokuta, Kogi and Rigachikun (Kaduna) camp sites simultaneously on Tuesday in Abuja, said...
Oil prices slid on Monday as sharp spikes in new coronavirus infections around the world forced some countries to resume partial lockdowns, raising concerns about the pace of economic recovery and fuel demand. Brent crude LCOc1 dropped 84 cents, or 2%, to $40.18 a barrel by 0833 GMT, and U.S....
Ikeja Electric Plc (IE) on Monday said it had metered over 120,000 households between January 2018 and June 2020 in line with its commitment to bridging the metering gap under its operational network. Mr Felix Ofulue, Head, Corporate Communications, IE, gave the figure in a statement signed and released to...
The cutting-edge blood component extractor machine just donated to the Lagos State government has been described as a timely intervention to aid the recovery of novel coronavirus patients. The state Commissioner for Health, Prof. Akin Abayomi, said the machine would support passive immunisation of COVID-19 patients with the extraction of...
World's largest providers of high-performance computing (HPC) solutions, Northern Data AG, says it expects to expand its new HPC data center in Texas in the first year to an operating capacity of 1,000 MW (1 gigawatt, GW). A further expansion to 3.6 GW is planned by 2023 at the latest. "We...
 The recent bio-fuel project on-going in Kebbi State will earn the state N388billion annually and boost the state’s economy. The statement was made by the chairman of the Kebbi State Standing Committee on Bio-Fuel, Prof. Muhammad Ka’oje, who made the revelation while speaking in the Birnin-Kebbi on Monday, said the...
The global coronavirus pandemic will not deter Ethiopia on its mission to plant five billion trees by the end of July, Prime Minister Abiy Ahmed said on Friday, World Environment Day. “Despite #COVID19, we are determined to plant the intended five billion trees,” he tweeted on his official Twitter account,...
The African Energy Chamber has called on African producers to extend production cuts and remain compliant with their obligations as the OPEC prepares to host its 179th conference and 11th OPEC and non-OPEC Ministerial Meeting via videoconference next week. The historic deal reached by OPEC and OPEC+ last April, which took...
Malaysia’s state-owned oil firm Petronas has entered Myanmar gas market with first liquefied natural gas (LNG) delivery, the company said on Thursday. Petronas said in a statement that through its subsidiary, Petronas LNG (PLL), completed its maiden delivery of LNG to Yangon. Two LNG cargoes were delivered to Yangon in May...
After several organisations failed in brokering peace between two warring firms over contractual disagreement, the Nigerian Content Development and Monitoring Board (NCDMB) has waded in to quell the growing tension over payment of the sum of N970 million between the Nigeria Liquefied Natural Gas (NLNG) and a Nigerian company,...
The price of crude oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and recovery from the coronavirus pandemic will spur fuel demand. Brent crude futures for August rose 43 cents, or 1.1 per cent,...
A cyclone racing in from the Arabian Sea has struck India's west coast after intensifying on its approach to the densely populated city of Mumbai. Cyclone Nisarga will be the first major cyclone to make landfall in India's financial capital in decades. Tens of thousands of people on the coast have...
Schlumberger Limited has announced that Schlumberger Oilfield UK Plc, an indirect wholly-owned subsidiary of Schlumberger (“SLB UK”), will redeem the entire outstanding principal amount of its 4.200% Senior Notes due 2021 (CUSIP Nos. 80685QAA4/G7861RAA4; ISIN Nos. US80685QAA40/USG7861RAA44; and Common Codes 56301097/56301046) (the “Notes”). Aa statement from the company said the...
Federal Government’s expectation of improve global prices of oil may be douse as Reuter’s poll of dozens of analysts set target price below $40 a barrel for 2020. Nigeria signed agreement to cut oil supply in line with recent request by members of the Organisation of the Petroleum Exporting Countries...
 All On, has said it has finalised installation of the first phase of its nation-wide solar installations at emergency health facilities related to the COVID-19 pandemic response. Making the announcement on Monday, via a statement, the Shell-funded impact investment company, said its Solar Relief Fund, which took off in March,...
After weeks of stalling, the Federal Government, has announced a new pump price for premium motor spirit (also known as ‘petrol’). The announcement was made by the Petroleum Products Pricing Regulatory Agency (PPPRA) announced the new pump price band of N121.50 to N123.50 per litre. The news was disclosed in a...