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Oil Prices Climbes To $51 Per Barrel

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Oil prices climbed to $51 per barrel on Friday, as Mohammad Barkindo, secretary-general of the Organisation of Petroleum Exporting Countries (OPEC), met envoys from Iran and Morocco over oil market stability and COP 22 climate change.

Reza Najafi, ambassador of the Islamic Republic of Iran to the United Nations and other international organizations, met with Barkindo to express Iran’s support in maintaining a steady oil market through both challenging times as well as during periods of prosperity.

Oil prices rallied at an eight-week old of $51 for Brent crude, and $48 per barrel for West Texas Intermediate (WTI).

Ali El Mhamdi, Morocco’s ambassador/permanent representative in Vienna, Austria, also visited Barkindo, promising his country’s support for OPEC and Barkindo’s leadership.

“I feel that OPEC is in the best of hands. We are facing challenging times and we need experience and a high profile, both of which you have,” he said.

El-Mhamdi said that apart from wanting to wish Barkindo well in his new responsibilities, his visit was also in connection with the upcoming Conference of the Parties (COP 22) meeting to be held in Morocco between November 7 and 18, 2016.

“It is a tremendous event for us and I have been instructed by my government to conduct an outreach campaign for OPEC as I know already that the Organization will again be involved in the talks,” he affirmed.

“My request is for the Organization to be as visible as possible and I ask that OPEC’s participation be the best possible. It is great for my country to be able to extend this invitation.”

Barkindo pointed out that the climate change meetings were a priority for OPEC since the Organization had been involved in the negotiations since the establishment of the Intergovernmental Negotiating Committee by the UN general assembly in 1991.

He said this committee negotiated the UN Framework Convention on Climate Change (UNFCCC), which was adopted at the Rio Earth Summit in 1992.

The Treaty entered into force in March 1994 and was presented to the first Conference of the Parties (COP1) meeting in Berlin, in 1995.

“The convention was the bible of our negotiations,” commented Barkindo, adding that it led to the Kyoto Protocol, which was adopted in Kyoto, Japan, in December 1997 and entered into force in February 2005.

“All this was made possible because of the active and constructive participation of all developing countries and OPEC,” he maintained.

Barkindo pointed out that he had been vice president at COP 1 in Berlin, working alongside former research scientist Angela Merkel, the current German chancellor.

“I actually attended and negotiated as Vice President on several occasions from COP 1 in Berlin to COP 15 in Copenhagen. So you can see that these negotiations are very personal to me.

“I know the position of Morocco very well and it is similar to most developing countries and OPEC. We intend to continue with this tradition in Marrakesh.

“Our experts and officials will have a meeting room there and they will convene meetings for OPEC Member Countries and other developing states. It is very important for the OPEC Secretariat to be in Marrakesh and I personally look forward to attending the high-level segment.

“All OPEC delegates will be supportive of the efforts of the Moroccan Presidency at COP 22.”

 

 

 

 

Source: www.thecable.ng

MOVIES

Biodun Stephen’s “Muri and Ko” Leads Nollywood Films At The Box Office

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"Muri and Ko" Leads Nollywood Films At The Box Office | Fab.ng

The Nigerian box office witnessed a power shift this week, with Nollywood’s “Muri and Ko” making a surprising climb to the top. Let’s take a closer look at how these films are performing.

Debuting at number six, “Muri and Ko” defied expectations by surging to the coveted second-place position.

This heartwarming story follows the unexpected turn of events for a thief named Muri. After stealing a car, Muri discovers a child inside. Forced to go on the run from the police with a bounty on his head, an unlikely bond begins to form between Muri and the child.

This unique premise and strong performances seem to resonate with Nigerian audiences, propelling the film to financial success.

Hollywood’s action-comedy juggernaut, “Bad Boys: Ride or Die,” continues its reign at the top of the box office chart for the third week. This highly anticipated sequel to the popular “Bad Boys” franchise continues to rake in the big bucks. It grossed an impressive ₦100.8 million this week. With a total haul of ₦216.5 million so far, “Bad Boys: Ride or Die” shows no signs of slowing down anytime soon.

After holding the top spot for three consecutive weeks, “Funmilayo Ransome-Kuti,” a biographical drama chronicling the life of the famed Nigerian activist, has been dethroned by “Muri and Ko.”

This week, “Funmilayo Ransome-Kuti” only managed to secure ₦15 million. The movie dropped down to fourth place with a total gross of ₦156.5 million. While it seems to have lost its initial momentum, “Funmilayo Ransome-Kuti” still holds a respectable position at the box office.

The action thriller film, “Criminal,” took a hit this week. It experienced a significant drop in its position on the charts. Falling from fourth place to sixth place, “Criminal” brought in only ₦8.2 million this week. This brings its total gross to ₦45.7 million. The reason behind the film’s decline in popularity could be due to a combination of factors. These factors can be competition from new releases or negative word-of-mouth.

The Nigerian box office is a dynamic landscape, and these rankings can fluctuate from week to week. However, the success of “Muri and Ko” demonstrates the potential for Nollywood films to capture the hearts and wallets of Nigerian audiences. This can happen with captivating stories and strong performances.

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MUSIC

Victony Drops Debut Album “Stubborn”

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Stubborn: Victony Drops Debut Album | Fab.ng

Nigerian artist Victony, known for his global hit “Soweto,” has finally dropped his debut album, “Stubborn.” This highly anticipated release marks a turning point in Victony’s musical journey.

Victony collaborates with a star-studded lineup. This includes Afrobeats giant Asake, Shallipopi, American rapper Teezo Touchdown, and Guyanese-American star Saint Jhn. This impressive roster blends musical styles. Also, it showcases the rich tapestry of African music for the world.

Released on June 21st, 2024, “Stubborn” is more than just music.

The album is a testament to Victony’s resilience. Three years ago, he was in a near-fatal accident that tragically took his best friend’s life. Victony required extensive surgery and rehab to walk again. The title “Stubborn” reflects his unwavering determination to return to music stronger than ever.

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MOVIES

Kanayo O. Kanayo Vows To Disrupt Any Film Set That Engages The Service Of Actress Angel Unigwe

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Kanayo to disrupt any film set that engages Angel Unigwe | Fab.ng

Veteran Nollywood actor Kanayo O. Kanayo is raising a red flag about working with young actress Angel Unigwe. In a recent Instagram video, Kanayo expressed his frustration with Unigwe’s mother, who he believes is managing her daughter’s career unprofessionally.

Kanayo admitted hearing rumours about unprofessional behaviour but didn’t take them seriously until he had a personal experience. He had apparently cast Unigwe in a film and reached an agreement with her mother, the details of which weren’t mentioned. However, the agreement wasn’t honoured, prompting Kanayo’s public warning.

Furthermore, Kanayo urged other movie producers to avoid working with Angel Unigwe.

He went as far as saying he would disrupt filming sets if he saw her working on a production. This is a serious move in the Nollywood industry. Also, it highlights the level of Kanayo’s frustration and his desire to protect other producers from similar experiences.

He stated,

“I am making this video to protect the entertainment industry in Nigeria. A particular woman has been holding producers to ransoms and it is unfortunate it has happened to me. Unfortunately, she is Angel Unigwe’s mother. A contract is breached by every producer, orally or written and it’s all respected but I found out that immediately this woman takes money from you, everything changes. She took her daughter at 9 pm when the particular date that we agreed hadn’t expired. She came at 9 pm and took her daughter.

“I have gotten reports from people before it happened to me. This is a Clarion call to producers, I beg you in the name of professionalism, from this moment to the first day of July 2024 any set that employs the services of Angel Unigwe, I will come to that set and make sure filming doesn’t hold. Her mother has been threatening many producers.”

 

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A post shared by Kanayo O Kanayo (@kanayo.o.kanayo)

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