Amid gains, global glut might weigh in on crude oil price
...Stakeholders advocate contingency plans to fund budget Crude’s price may see compounded pressure as the outlook for fuel demand is uncertain amid global growth concerns. Indeed, both the International Energy Agency (IEA) and Energy Information Administration (EIA) have projected a decrease in crude demand for 2019 while the Organisation of the Petroleum Exporting Countries (OPEC)…
IOC backs daylight savings to ease Tokyo 2020 heat fears
The International Olympic Committee on Wednesday backed calls by Japanese organisers to implement daylight savings time at the 2020 Tokyo Olympics as concerns mount over athlete safety in soaring temperatures.
Communities reject oil firms’ refusal to relocate headquaters to Niger Delta
Communities in the Niger Delta have insisted that international oil companies (IOCs) must relocate their headquarters to the region given the magnitude of their projects and the environmental challenges their operations pose to the people. The leaders of the communities, who spoke to The Guardian yesterday, maintained that it was only fair and logical that…
Government in talks with IOCs over $21b losses, says NNPC
The Nigerian National Petroleum Corporation (NNPC) has said the state owned company is currently in talk with International Oil Companies (IOCs) with the aim of reviewing the Production Sharing Contract (PSC) signed about 25 years ago between the two parties. Nigeria has allegedly lost over $21 billion since terms of the contract, which was signed…
High oil prices boost IOCs, indigenous firms earning in Q1
As crude oil prices continue to soar, International Oil Companies (IOCs), and indigenous firms in Nigeria recorded significant profit during the first quarter of 2018. Sharply climbing oil prices and years of cutting cost when they were low, are rewarding some of the world’s largest oil producers with profits not seen when crude was…
IOC to appeal against CAS decision to lift Russian doping bans
The International Olympic Committee (IOC) announced on Thursday that it will appeal to the Swiss Federal Tribunal against the decision by the Court of Arbitration for Sport (CAS) to lift doping bans on 28 Russians. A few days before the 2018 Winter Games in Pyeongchang, CAS ruled that there was "insufficient" evidence that the athletes…
IOC chief 'disappointed' over lifting of Russian doping bans
A decision by sport's top court to lift life bans for doping of 28 Russian athletes was "extremely disappointing and surprising", IOC chief Thomas Bach said Sunday.
Olympics: 13 Russians cleared of doping eligibe for Games:IOC
Thirteen Russian athletes and two coaches whose life bans linked to doping were lifted by a top sports court may be allowed to take part in the Pyeongchang Olympics, the IOC said Saturday.
IOC, two Koreas meet to finalise historic Olympic deal
After the two Koreas struck a deal for the North to attend the Winter Games in the South, Olympic bosses were meeting Saturday to resolve the devils in the details of the landmark pact.
Bolt loses gold as IOC strip Jamaica of 2008 relay win
Usain Bolt lost one of his nine Olympic gold medals Wednesday when the International Olympic Committee stripped Jamaica of their 4x100m relay win at the 2008 Beijing Games after Nesta Carter was caught doping.