International
OPEC+ deadlock is bad news for oil producers, consumers and energy transitions – IEA warns
The International Energy Agency on Tuesday warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation. In its latest monthly oil market report, the IEA said...
Oil prices to average $56 per barrel in 2021 – World Bank
Oil prices are expected to average US$56 barrels per day in 2021, according to the World Bank Commodity Market Outlook Report. The commodity is expected to rise further to US$60 barrels per day in 2022, a substantial upward revision from the October 2020 report. The...
Coronavirus: Oil market future uncertain after rebound from pandemic shock – IEA
Based on today’s policy settings, global oil demand is set to rise every year through 2026 but stronger policies and behaviour changes could bring a peak in demand soon, an IEA report says. IEA said in Oil 2021, its latest annual medium-term market report, that the...
Oil prices hit US$60 per barrel in Q1 2021 on the international commodities market
Oil trader’s in Ghana are expected to pay more when purchasing Crude Oil at the local pumps as prices of oil hit US$60 per barrel in the first quarter of the 2021 fiscal year. Earlier this year, a senior Oil expert Dr Yussif Sulemana predicated that, the price of...
Global corporate clean energy purchasing up 18% in 2020
Corporations purchased a record of 23.7 GW of clean energy in 2020, up from 20.1GW in 2019 and 13.6GW in 2018, according to new research published by BloombergNEF (BNEF). The increase came despite a year devastated by the Covid-19 pandemic, a global recession and...
Construction begins on world’s largest integrated solar-powered battery system
Florida Power & Light Company announced that construction has begun on the FPL Manatee Energy Storage Center, which is expected to become the world’s largest integrated solar-powered battery system, according to the company. Located in Parrish, Fla., the...
Global oil prices to hit US$60 a barrel – Energy Consultant
Energy Consultant, Dr Yussif Sulemana has predicted that oil prices on the global market are likely to hit US$60 per barrel in the first quarter of 2021. Currently, Brent crude oil is selling for about US$55.78 dollars per barrel increasing by a little over four...
Nigeria: Barkindo – OPEC Halted 1.3 Billion Barrels Supply to Raise Oil Price
The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, yesterday highlighted the role played by the Declaration of Cooperation (DoC), the group's framework for supply stability, in halting an excess crude oil volume of...
Valmet to covert lignite-fired boiler to biomass-fired boiler
Valmet has received an order from Zespól Elektrowni Patnów-Adamów-Konin SA (ZE PAK) to convert a lignite-fired boiler into a biomass-fired boiler at its power plant in Konin, Poland. The order is included in Valmet’s orders received of the 2Q2020. The value of the...
OPEC daily basket price $14.36 a barrel
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, compared with $12.41 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria),...
