Africa Oil and Gas 

Crude oil closes high, Nigeria to comply with output cut

Petroleum rates finished with a weekly gain of about 10% on Friday, as the sudden drop in U.S. production output of petroleum, together with OPEC output cuts, provides hope that the oil glut in the market will reduce significantly. International standard, Brent crude closed at $42.20 for a 9.5% weekly gain, after it opened on Monday at $38.80 a barrel. West Texas Intermediate (WTI) likewise completed the week on an excellent note, as it closed at $39.98 a barrel with an 11% weekly boost, after starting the week at $36.03…

Read More
Africa Covid19 

COVID-19: Church might not open until end of the year – Pastor Tunde Bakare

The General Overseer of the Citadel Global Community Church formerly known as Latter Rain Assembly, Pastor Tunde Bakare, has said the church will not open until later in the year. Bakare stated this while speaking at the second edition of the virtual 3Gz session of the CGCC Legacy Youth Fellowship. The cleric noted that “government cannot shut the church, it can only shut a building”. According to him, during a meeting with the Governor of Lagos State, Babajide Sanwo-Olu and his team, it was predicted that a lot of COVID-19…

Read More
Advertising Africa 

Alleged land trespass: Court stops Enugu lawmaker

A serving lawmaker in Enugu State, Mr. Emeka Madau has been restrained by a High Court presided over by Justice E. N. Alukwu from further trespassing or selling a portion of land in dispute. The land in question is located at the Artisan Market, Asata, within the Enugu Capital City. Madu, who is representing Igboeze South in the Enugu State House of Assembly, is being accused of illegally trespassing into the property. Ruling in a motion ex-parte in suit no. E/50/2020, Alukwu also restrained the defendant/respondent, his agents, privies and…

Read More
Africa African Business News Management 

Nigeria nominates Dr Ngozi Okonjo-Iweala for post of WTO Director-General

According to the timetable announced by the Chair of the General Council, David Walker, the nomination period will close on 8 July 2020. Shortly after the nomination period has closed, candidates will be invited to meet with members at a special General Council meeting, present their views and take questions from the membership.

Read More
Africa Oil and Gas 

Producers hopeful of $50 oil cost, business sustainability from cuts Business

Although OPEC concurred at the weekend to extend 9.7 million barrels cuts in daily crude oil production through completion of July, providing oil rates some support, operators in the exploration market are enthusiastic that the cuts would be sustained to help production and organisation sustainability. In the course of international lock down, the occurring energy imbalance impacted oil manufacturers and rates such that service sustainability was threatened and capability to service over N3.4 trillion loans damaged. With the lock down raised and oil costs rebounding, African Energy Chamber thinks that…

Read More