Blog - Ibe Kachikwu

23rd October 2021

Oil Prices Could Reach $100 per barrel Next Year – Iraq Oil Minister

According to Reuters, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael warned on Wednesday that due to low global commercial supplies, prices could exceed $100 per barrel in the first half...

22nd October 2021

The US is Still Convincing OPEC to Pump More Oil

The United States is not giving up on its attempts to convince the Organisation of Petroleum Exporting Countries and its allies to pump more oil as retail fuel prices continue...

21st October 2021

South African Development Bank Secures $210 Million Loan for Green Energy Development

Pacific Investment Management Company (PIMCO) would lend the Development Bank of Southern Africa (DBSA) $210 million for green energy development, according to the United Nations Economic Commission for Africa (UNECA)....

19th October 2021

IEA Believes Energy Prices Will Continue to Rise without Significant Investment in Clean Energy

The International Energy Agency warns that global energy market volatility and price increases will continue without a significant increase in clean energy investment. Consumer consumption demands must be met by...

16th October 2021

Ghana: Occidental Petroleum Sells Stakes in Jubilee and TEN Oilfields

Occidental Petroleum Corporation, an American oil company, has sold its interest in the Jubilee and TEN oilfields off the coast of Ghana for $750 million. The two oilfields were sold...

16th October 2021

Oil Surpasses $85 per Barrel for the First Time in Three Years

On Friday, oil prices climbed above $85 a barrel for the first time in three years, owing to expectations of a supply shortage in the coming months, as rising gas...

15th October 2021

Russia Can Produce Up to 11.4 million bpd but is Sticking to its OPEC+ Quota

Speaking at the Russian Energy Week Forum on Thursday, 14 October 2021, the Deputy Minister of Russia who is also in charge of leading Russia’s participation in the OPEC+ agreement,...

14th October 2021

OPEC Reduces 2021 Oil Demand Forecast in MOMR

OPEC forecasts global oil consumption to expand by 5.8 million barrels per day (bpd) this year from low 2020 levels, down from a forecast of 5.96 million bpd growth last...

14th October 2021

OPEC+ is Overperforming on Monthly Production but Underperforming on its Quota – Argus

According to statistics from Argus, OPEC+ is producing less oil than it is expected to, according to a survey done by Platts and published by Forex Live. According to the...

14th October 2021

Investment in Low Carbon Energy Must Triple to Fulfil Paris Agreement – IEA

Fatih Birol, the head of the International Energy Agency, told the Financial Times that if the world is to fulfil its Paris Agreement commitments, investments in low-carbon energy must triple....