Culled from the Ecologist COP20 has just laid the foundations for a non-agreement in Paris in 2015, writes Assaad Razzouk – thanks to the pernicious influence of fossil fuels, poisoning debate and subverting serious climate action. Now there’s only one earthly power big enough to fight back. We need to stop Big Oil’s efforts to silence the substantive debates experts are trying to have around the world about the most effective way to shift to 100% clean energy by 2050. The annual UN Climate Talks ended on Sunday in Lima, Peru. In case you were wondering, nothing happened. In fact,…
Author: orientalnewsng
Source-Reuters Suspected Boko Haram gunmen kidnapped more than 100 women and children and killed 35 other people on Sunday during a raid on the remote northeast Nigerian village of Gumsuri, a security source and resident said on Thursday. Although no one has claimed it yet, the attack bore the hallmarks of Boko Haram, which abducted more than 200 women in April from a secondary school in Chibok, only 24 km (15 miles) from this latest attack. Its campaign for an Islamic state by Boko Haram, whose name means “Western education is sinful”, has become the gravest threat to Africa’s biggest…
By Yemisi Izuora-Lagos Customers of United Bank for Africa (UBA) Plc in the 18 African countries where the bank has operations can now receive transaction alerts on their twitter handle as direct messages a feat the bank says is an innovation to be launched first from the pan-African bank and currently the only bank in Africa to offer this service. “What we have done is take social media banking to a new level. Twitter is increasingly becoming a popular means of communication especially among the young adults. As a highly innovative bank, we are giving the Millennials, who are increasingly banking…
By Yemisi Izuora-Lagos Flour Mills of Nigeria Plc. has held its 2014 Employees Award Day at a colourful ceremony,during which the company honoured its high performing employees, retiring employees, long serving employees, “Duty Pilots” for its core values – PIILOT and graduating trainees. Plaques certificates and other gifts were given to more than 100 deserving employees based on outstanding performance, promotion and excellence in demonstrating and exemplifying the company’s core values in their day-to-day activities. Prominent amongst the awardees was the retiring Human Resources Director, Mrs. Mary Uraih, who served the company for over 30 years. In his…
Yemisi Izuora/Ijeoma Agudosi Recent falls in the price of oil are likely to be temporary, says the oil minister for Saudi Arabia, Opec’s biggest producing nation Ali al-Naimi said commodity price fluctuations were to be expected and said he was hopeful for the future. He added it was “difficult, or even impossible, for Saudi Arabia or Opec to undertake any measure that would lead to a reduction in [their] share of the market and an increase in of others”. Oil price watch by oriental news nigeria today shows that the price of Brent crude was just below $63 a barrel,…
By Yemisi Izuora-Lagos Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has been elected the President of the Ministerial Meeting of the Gas Exporting Countries Forum (GECF) in Doha, Qatar. This lection is coming barely two weeks after she was elected the President Organisation of Petroleum Exporting Countries (OPEC) in Vienna, Austria. The meeting of GECF, an equivalent of OPEC, was attended by ministers from Algeria, Iran, Libya, Qatar, Russia and United Arab Emirate, while the Heads of Delegations from Bolivia, Equatorial Guinea, Egypt, Trinidad and Tobago and Venezuela were observers. Alison-Madueke, who, until then, was the Alternate President, was however…
By Yemisi Izuora-Lagos Eland Oil and Gas PLC today announced that its joint venture company in Nigeria has completed the company’s final sale of crude for the calendar year. Elcrest Exploration and Production Nigeria Ltd has completed the loading and sale of 31,500 barrels gross crude for an average price of USD94.93 per barrel. It is the final loading and sale to be completed in 2014, and Eland said it expects to receive payment for the sale before the end of the year. In 2014, Eland has sold 115,722 barrels of crude oil for an average price of USD103.77 per…
By Yemisi Izuora-Lagos The International Monetary Fund (IMF) is now exerting energy with the view to averting the global economy from settling into a “new mediocre,”. The IMF has therefore published a new work program that lays out its strategic priorities for the period ahead. A key focus of the agenda discussed by the IMF’s Executive Board recently would be to spur inclusive, job-rich growth. The new work program stresses the need to manage monetary normalisation in advanced economies, enhance the quality of public expenditure, safeguard financial stability, and carry out structural reforms to raise productivity and strengthen growth. The…