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AS members of the Organisation of Petroleum Exporting Countries, OPEC, and non-members commit to oil output cut, oil prices, Tuesday, rose to over $57 per barrel in the international market. Specifically, the price of Brent hit the roofs at $57.49 per barrel, recording over $1.0 in excess of $56 recorded the previous day. However, Nigeria’s Bonny Light also rose from $54.44 per barrel, recorded last Monday to $55.03 on Tuesday, this week, thus raising hope for the execution of Nigeria’s N13 trillion 2021 budget. The budget was benchmarked on $40 per barrel and 1.8 million barrels per day, mb/d oil output, including Condensate. Nevertheless, OPEC has cautioned that it does not envisage a rapid oil price recovery in 2021, stressing that slow recovery might be possible from the second quarter, (June-August), of this year, based on the ability of stakeholders to tackle the Coronivarus pandemic and other challenges, currently impacting the market. ....
TODAY Reuters The consumption of renewable energy cannot come anywhere close to overtaking oil and gas usage in the decades ahead, the Organisation of Petroleum Exporting Countries said on Wednesday. Secretary-General, OPEC, Mohammad Barkindo, said this in his special address at the S&P Global Platts Americas Petroleum and Energy Conference, with the theme, ‘The pursuit of global multilateralism to help drive the global energy transition’. Barkindo observed that there were some who believed the oil and gas industries should not be part of the energy future, but should be consigned to the past, and that the future was one that could be dominated by renewables and electric vehicles. ....
Barkindo: Divestments from Oil Sector will Not End Carbon Emissions thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
The Global Energy Agenda This stylized image of the Abu Dhabi skyline was created for use by the Atlantic Council for its Global Energy Forum. The Global Energy Agenda can also be read as a PDF. Download the full paper using the button below. The 2021 Energy Agenda: The Atlantic Council surveyed hundreds of leaders in the energy field, and this report summarizes their responses. The energy agenda for 2021 should be to realize the opportunities created by COVID-19 to build a more sustainable energy system. The energy transition is not inevitable, and the private sector can only do so much; governments, therefore, have a critical role to play in ensuring a sustainable future. ....