International Energy Agency
Total commissions 30th solar station
Total Nigeria Plc has commissioned its 30th solar service station, allowing its current installed solar capacity to generate enough energy to power the equivalent of 460 average Nigerian households, according to International Energy Agency (IEA) database. Since the commissioning of Onigbagbo service station in 2013, the first in Nigeria, the projects have saved the country…
Trade disputes fuelling global oil demand, says IEA
International Energy Agency (IEA) has said that trade disputes, which are currently affecting big oil exporters, have further stimulated global demand for oil.
Nigerian automakers struggle with electric vehicle evolution
Despite the challenges bedevilling Nigeria’s automotive sector, some assemblers have expressed interest to invest in the production of electric vehicles (EVs) in the country.Experience has shown that Nigeria usually turned out to be a dumping ground for a variety of banned products.
Investment in oil, gas essential over declining production
In the longer-term, investment in oil and gas remain essential to meet demand and replace declining production, according to the latest report by the International Energy Agency (IEA).
Crude oil prices drop from two-year high
Barely 24 hours of hitting one-year high at $53.73 a barrel, Brent crude oil fell by 42 cent to hit $52.72 a barrel yesterday while West Texas Intermediate (WTI) also fell from $52.51 to settle at $50.92 a barrel.
IEA says oil glut remains a major dampener on prices
The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-OPEC production, the International Energy Agency said on Wednesday.
Global oil market stabilising, says energy agency
The price of oil is unlikely to rise much further after rallying almost 90 per cent since January, according to the International Energy Agency (IEA), which says the global market shows signs of stabilizing.