Key data released for oil, coal and electricity trends in OECD countries

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CBN

The IEA released key data for oil, natural gas, and electricity last week for OECD countries in 2020 highlighting the major impacts of the Covid-19 pandemic.

The global electricity sector was greatly impacted by the Covid-19 crisis with electricity demand and production falling significantly as countries across the OECD implemented lockdown measures. In the oil sector, total OECD annual production of crude oil, natural gas liquids, and refinery feedstocks decreased by 3.4% compared to 2019. Finally the upward trend in total OECD production of natural gas reversed for the first time since 2009, experiencing a 2.0% drop compared to 2019.

The IEA report on Energy Mix stated that  renewable energy  sources aren’t just cleaner, they are also better for your stock portfolio. That was a key finding from our latest Clean Energy Investing report produced in collaboration with Imperial College Business School’s Centre for Climate Finance & Investment.

The study showed that over the past 5 and 10 years, renewable power portfolios on average produced better risk-adjusted returns than those made up of fossil fuel equities. They also outperformed during the downturns caused by the coronavirus pandemic. The finding is consistent with the first report in the series which focused on a smaller number of markets.

Obasanjo open up on June 12,says, it cancellations  was done in ‘bad  faith’
For  the first time in 28 years former President of Nigeria, Olusegun Obasanjo  has expressed a stong view about  the cancellation of Joune 12 election  in which  Chief MKO Abiola  allegedly won but annulled by the  military junta of  General Ibrahim  Babagida,saying it was done in ‘bad belle”
Obasanjo spoke on Sunday in Abeokuta, Ogun state, during his investiture as a Trustee of  Abeokute Club

According to him: “bad blood  was the reason for the annulment of the June 12, 1993, Presidential election thought to have been won by late business mogul, Moshood Kashimawo Abiola”
He said but for the annulment, Egbaland would have  produced  three presidents of Nigeria by know, stating further that the late acclaimed winner of the election, Kashimawo Abiola was his school mate at the Baptist Boys High School, Abeokuta.
“The annulment robbed Egbaland, the rare opportunity to have three of its prominent sons, occupy the seat of the president, at different times”
The late mko Abiola was awarded a posthumous Vice-Patron of the Club during its 46th President Party held at the secretariat in Abeokuta. He said Abiola richly deserved the award bestowed on him by the Club.
Obasanjo who  referred to former Head of Interim National Government Chief Ernest Shonekan, himself who ruled Nigeria, first, as a military Head-of-State and later two-time civilian president,  stated  that Abiola would have become the third if the 1993 poll was not cancelled.
“I want to thank Abeokuta club for this honour being bestowed on me and the honour being bestowed on my school mate MKO Abiola which he richly deserved,” Obasanjo stated.
“Normally when you win a cup three times, you keep that cup. Isn’t it? If not for bad belle, Abeokuta would have produced President of Nigeria three times, in which case we should have kept it permanently.
“But be that as it may, we have a great heritage and we should be proud of our heritage.”
Obasanjo, pledged his commitment to the development of the Club, Ogun state, Nigeria and the world.
“I want to say this, I will continue to contribute my quota to the development and growth of this club and by extension, the development and growth of Abeokuta, of Ogun State, of Nigeria, of African and indeed the of the world in whichever way I could,” the former president pledged.

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