Nigeria Joins IEA As Crude Output Hits Six-Year High
Natural Gas Prices Uzbekistan is expanding nuclear-safety cooperation… Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… Nigeria has ambitious energy plans for the coming decades, including expanding its oil industry and accelerating the development of its renewable energy sector.
In recent years, Nigeria has begun to solidify its position as a major energy power in Africa.
This led the International Energy Agency (IEA) Governing Board to decide in June to welcome Nigeria as an Association country.
Nigeria joins South Africa, Kenya, and Senegal as an IEA Association country in sub-Saharan Africa.
To solidify the agreement, IEA Executive Director Fatih Birol met with Nigeria’s Vice President Kashim Shettima and Minister of State for Petroleum Resources Ekperikpe Ekpo in Abuja in September.
The officials discussed Nigeria’s energy and economic priorities and the opportunities created by the country’s closer engagement with the IEA.
“Nigeria’s admission as an association country with the IEA is a significant milestone for our country, and it reflects Nigeria’s strategic importance in the global energy landscape and the confidence that IEA has placed in our commitment to constructive international energy cooperation,” Vice President Shettimasaid.
“The country will benefit from IEA’s institutional knowledge, the intellectual resources, the reach and expertise to support our nation’s ambitions in this sector.” Meanwhile, Birol stated, “Nigeria joining the IEA Family is a landmark moment – for Nigeria, for Africa and for the IEA.” Birol stressed, “Our partnership… will help the IEA engage more deeply with energy systems in Africa, while leveraging our expertise and international network in support of Nigeria’s priorities – from strengthening energy security and further realising its huge energy potential to expanding access to electricity and clean cooking solutions.” Nigeria’s Association reflects the changing IEA landscape, as the organisation aims to expand its engagement with major emerging and developing economies.
Nigeria is Africa’s most populous country and one of its largest economies.
It is also a major oil and natural gas producer and has begun to develop its renewable energy capacity in recent years.
With Nigeria’s association, the IEA now represents over 80 per cent of global energy demand.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment