Anosi F. Ikimalo

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The World’s Best Stocks May Gain Even More If Oil Holds Up

The world-beating rally in Nigerian stocks may not be over yet.<p>The main equity index in Africa’s biggest economy has surged 12 percent this year in …

Why the approach economists have taken to growth in Africa has failed chronically

There has been a chronic failure among economists to explain growth in Africa.<p>The methods and analytical angles they have used to explain relative failure in Africa were conceived in the 1990s, but these were unsuitable for explaining growth in the 1960s or growth since the 2000s.<p>There is no …

Economics

Your Next Prescription Could Be A Genome Sequence

At Advances in Genome Biology and Technology, a conference for genomic scientists held earlier this year, one speaker told attendees that the use of genome sequencing to improve patient care is no longer a far-off goal—it’s happening today. While you won’t encounter genome sequencing on an average …

Genetics

RPT-Saudi looking beyond oil price slump as rig count spikes

(Repeats March 20 item; no changes to text)<p>By Rania El Gamal and Reem Shamseddine<p>DUBAI/KHOBAR, Saudi Arabia, March 20 (Reuters) - As the global energy industry stares transfixed at a spectacular drop in U.S. rigs, Saudi Arabia is ramping up the number of machines drilling for oil and gas despite a …

Oil falls as dollar up, Kuwait sees OPEC output steady

NEW YORK (Reuters) - Oil prices tumbled on Thursday as a rebounding dollar and Kuwait’s stance that OPEC had no choice but to keep producing in an oversupplied market undercut the previous day’s rally.<p>Pumpjacks taken out of production temporarily stand idle at a Hess site while new wells are …

The World's Biggest Oil And Gas Companies - 2015

Big Oil is in a panic. The global price of crude has fallen further and faster than anyone could have predicted. At $43 a barrel oil is down about 70% from June 2014. Record oil supplies have outstripped demand, and now storage tanks are filling up. By June we might just run out of room to stick …

GREENSPAN: The US is producing oil that has nowhere to go

Specifically, he zeroed in on the problem going on in the US market: basically, production hasn't dropped like people expected it to, and it's largely illegal to export American crude, so all of the excess oil is building up in storage.<p>Because of those things, Greenspan thinks that the price of WTI …

Oil

Oil is getting smoked

Near 1:00 p.m. ET, West Texas Intermediate crude oil was down by more than 4% at around $45.12 per barrel.<p>Just a few days after a recovery to over $50 a barrel, WTI is near its lows for the year.<p>In a note Friday, Goldman Sachs' Jeffrey Currie said oil prices have not bottomed yet:<p>"For oil we …

​OPEC will keep oil production unchanged at June meeting – Kuwait

<i>“I think so because there is less than two months, removing weekend and summer time, before the next OPEC meeting,”</i> Nawal Al-Fuzaia said Tuesday. <i>“I</i> …

The Audacious Plan For One Startup To Get Solar Power To 1 Million Tanzanian Homes

As developing nations look to bring electrification to the masses, they face a choice: pursuing the course taken by the developed world, which is …

Profit

Saudi Arabia's oil reserves may be its best kept secret

As the price the world pays for oil and oil products has plummeted, the price OPEC members are paying in terms of lower revenues is high, even unbearable for those who didn't save up for just such a rainy day.<p>Was the real reason for the decision to maintain production the desire to undermine rising …

The end of OPEC

Did you notice that gas prices are really low? I thought you might have. And if you need a reminder, just look at how far they've plummeted over the …

OPEC’s influence has long been exaggerated

However, the role of OPEC has historically been overplayed, and the latest tumult is merely further evidence of the group's weakness.<p>Formed in 1960 "to coordinate and unify petroleum policies" and offset the influence of major multinational oil companies, OPEC enjoyed the peak of its geopolitical …

Oil

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OPEC's president has a vision for oil talks that involve non-OPEC players like Russia and the US coming to the table

According to Kaminska, in a sit down with the FT, the OPEC president and Nigerian oil minister proposed what Kaminska calls a "Bretton Woods-style framework on energy prices" as the United States becomes a major producer threatening the hegemony of the cartel.<p>"We need to formalise the discussions …

Oil

Saudi satisfaction with ‘calm’ oil markets signals $60 anchor

LONDON (Reuters) - OPEC kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.<p>The word oil is pictured on an oil bank at a recycling yard in London March 2, 2011. REUTERS/Stefan Wermuth<p>As a global oil glut pushed …

Saudis’ Oil Price War Is Paying Off

Three months after Saudi Arabia made clear it was going to let oil prices keep tumbling, the strategy is showing signs of working.<p>U.S. drillers are …

OPEC comments drive Brent prices up

NEW YORK, Feb. 25 (UPI) -- Statements from a member of OPEC again swayed oil markets Wednesday, with Saudi comments on demand driving Brent crude …

Saudis won't back emergency OPEC meeting

Saudi Arabia won't agree to hold an emergency OPEC meeting despite the pain being felt by other members of the cartel, several OPEC sources said Tuesday.<p>OPEC isn't scheduled to meet again until June, but Nigeria's oil minister Diezani Alison-Madueke told the <i>Financial Times</i> Monday it was "highly …

Why OPEC is dead

With oil's price collapse, we can now declare that OPEC's reign as king of the market is over. However, just as certain is the fact that there is no …

The oil price: The Saudi project, part 2

By refusing to rein in production while prices fell, the Saudis permitted a big surplus to grow and served notice on higher-cost rivals (Russia, Venezuela, American shale-oil producers) that they would not prop up other people's profit margins at the expense of their own market share.<p>That signal …

Russians to fight North Sea oilfield ban

Russian investors say they will contest any move by the UK to block their attempt to buy North Sea oilfields<p>A group of billionaire Russian investors plans to challenge a UK decision to block their attempt to seize control of a clutch of North Sea oilfields worth billions.<p>LetterOne – a Russian …

Push for new Opec boss risks deeper rift

A fierce dispute is set to break out within the Organisation of the Petroleum Exporting Countries (Opec) about who will become its next secretary general<p>A fierce dispute is set to break out within the Organisation of the Petroleum Exporting Countries (Opec) about who will replace the current …

Most in OPEC are Nervy But Saudis Aren't

As Brent slid back below $60 per barrel this week before recovering, non-Arab members of OPEC began their latest round of whining about the oil price accompanied by customary calls for an “extraordinary meeting of ministers”. That’s an unscheduled kerfuffle to haggle over the cartel’s production …

Oil

Opec veteran warns cartel emergency meeting won't stop rout in prices

Qatar's former finance minister says the traditional oil producing countries will struggle to halt the fall in prices<p>An emergency meeting of the world's traditional energy producers will do nothing to stop the precipitous fall in oil prices, according to Qatar's former finance minister.<p>Speaking at …

Nigerian News, Nigeria Newspapers

COVER STORIES14 hours agoWe Didn’t Pay A Dime To Free Dapchi Girls, FG insists COVER STORIES14 hours agoSecondus Meets IBB In MInna<p>MOST …

Africa

Extraordinary OPEC Summit Unlikely – Venezuelan Ambassador

© Flickr/ alex.ch<p>Experts Forecast OPEC’s Future Oil Pricing Power to Be More Limited<p>MEXICO CITY (Sputnik) — A summit of the Organization of the …