Goldman Sachs has maintained its oil price forecast for Brent crude, seeing the benchmark averaging $64 over the fourth quarter of the year despite recent developments that have pushed both Brent and West Texas Intermediate higher.
“Increasing pressure on Russia and Iran’s sanctioned oil supply poses an upside risk to our price forecast, especially given the faster-than-expected normalisation in spare capacity,” Goldman analysts said in acknowledgement of these developments, as quoted by Reuters.
President Trump last week threatened importers of Russian oil with 100% additional tariffs unless Russia agreed to a ceasefire with Ukraine. Russia’s biggest oil buyers—China and India—have indicated they have no intention of suspending purchases, which should be theoretically bearish for oil prices.
These secondary tariffs—and other import levies—would affect the prospects of oil demand growth, the investment bank noted in its forecast. It estimated the effect of U.S. tariffs on oil demand at 800,000 barrels daily between this year and next. They also cited weaker-than-assumed economic activity data for the United States as a factor in that demand estimate.
“The U.S. economy is now growing at a below-potential pace”, the bank’s analysts said, seeing a higher risk of a recession over the next 12 months than in their last forecast.
As regards OPEC+ production policy, the analysts said that “While OPEC+ policy remains flexible, we assume OPEC+ will keep its production quota unchanged after September as we expect the pace of builds in OECD commercial stocks to accelerate and seasonal demand tailwinds to fade away.”
OPEC+ agreed this weekend to add another 547,000 barrels daily to its oil production next month. This follows a similar increase for August and is part of a broader effort to restore about 2.5 million bpd of supply, approximately 2.4 percent of global demand, by September.
Schneider Electric marks 25 years of industrial, social impact in Nigeria
By Dipo Oladehinde
Schneider Electric, a global leader in energy management and industrial automation, has marked a significant milestone as it celebrates 25 years of operations and impact in Nigeria.
Since entering the Nigerian market in 2000, the company has become a key player in the country’s industrial and social development, delivering sustainable solutions across critical sectors and driving innovation, education, and job creation.
Over the past two and a half decades, Schneider Electric has supported Nigeria’s growth across sectors such as consumer-packaged goods (CPG), oil and gas, manufacturing, hospitality, construction, and residential infrastructure. Its integrated solutions have enabled businesses and communities to adopt more efficient, secure, and sustainable energy practices.
Speaking at the anniversary celebration, Ajibola Akindele, the country president of Schneider Electric Nigeria, emphasised the company’s long-standing commitment to sustainability and development across Africa.
“Schneider Electric has actively contributed to achieving the United Nations 2030 Sustainable Development Goals, particularly in areas such as Affordable and Clean Energy, Industry, Innovation and Infrastructure, Decent Work and Economic Growth, and Quality Education,” he said.
He added that the company’s technological innovations, such as the EcoStruxure IoT-enabled solutions, have played an essential role in powering tech cities, modernising industrial infrastructure, and securing critical energy assets such as pipelines.
“Sustainability has remained at the heart of our mission as we deliver impactful, future-ready solutions,” Akindele noted.
Schneider Electric’s footprint now extends beyond Nigeria, with successful expansions into Ghana, Sierra Leone, and other African markets. This growth, according to Akindele, underscores the company’s strategic commitment to supporting the continent’s transition to clean, reliable, and efficient energy systems.
A key pillar of Schneider Electric’s operations in Nigeria has been its contribution to technical education and workforce development.
“We have established over 25 training center partnerships across Nigeria, trained thousands of students, and executed more than 100 teacher missions. Educators have been equipped with the necessary skills to prepare the next generation of energy industry professionals,” Akindele stated.
Beyond formal education, the company has reached out to communities across Nigeria with green skills development and empowerment programs, offering training to thousands of individuals and reinforcing its inclusive approach to energy access and social development.
Schneider Electric’s contributions to job creation and industrial capacity building have also been significant. From an initial workforce of just 40, the company has grown to employ over 250 people in Nigeria. Additionally, Schneider Electric has built a strong partner ecosystem of more than 300 stakeholders, including distributors, system integrators, contractors, retailers, and panel builders. Through this vast network, thousands of indirect jobs have been created, bolstering the local economy and advancing technical expertise in energy management.
In support of innovation and digital learning, Schneider Electric established a state-of-the-art, 200-capacity multi-modal testing facility in Rivers State. The center has been instrumental in supporting digital learning, skill certification, and examination processes for the energy sector.
Earlier in 2024, Schneider Electric took a major step to reinforce its presence in Nigeria by launching a new office, demonstrating its long-term vision for sustained growth and commitment to the Nigerian market. That same year, the company was honored with the “Employer of the Year” award in the Energy and Utilities Sector by the Nigeria Employers’ Consultative Association (NECA), further cementing its reputation for workplace excellence and employee development.
Looking ahead, Akindele reaffirmed Schneider Electric’s vision to continue shaping the future of energy and automation across Nigeria and Africa. “We remain committed to driving inclusive progress through innovation, supporting economic development, and empowering communities through technology,” he said.
As Schneider Electric celebrates 25 years in Nigeria, the company remains a symbol of resilience, innovation, and sustainable impact—charting a future where energy is accessible, efficient, and inclusive for all.
Schneider Electric Q2 2025 results underscore global ESG leadership, inclusive impact
By Dipo Oladehinde
Schneider Electric, a global leader in the digital transformation of energy management and automation, has released its Q2 2025 extra-financial results, marking a decisive phase in the final stretch of its 2021–2025 Schneider Sustainability Impact (SSI) program. With just six months remaining in the five-year plan, the company continues to show measurable progress across its Environmental, Social, and Governance (ESG) pillars.
According to the report, Schneider Electric achieved an SSI score of 8.06 out of 10 this quarter, reflecting sustained momentum across its core sustainability objectives. The strong score is emblematic of a company that has transformed sustainability from a strategic priority into a performance standard.
The quarter was also notable for the global recognition Schneider Electric received. TIME and Statista named the company the World’s Most Sustainable Company for the second consecutive year, while Corporate Knights reaffirmed it as Europe’s Most Sustainable Corporation. These accolades serve as more than industry praise—they underscore Schneider’s continued leadership in sustainable business practices and innovation.
However, beyond recognition, Schneider Electric’s Q2 results underscore tangible, community-level impact that aligns with its vision of an inclusive energy transition. Central to this is the company’s milestone achievement of training over 1 million people in energy management—a key target under the SSI framework and a cornerstone of its global youth empowerment agenda.
The training initiative, amplified through the Youth Education & Entrepreneurship Program, spans over 60 countries and aims to provide underserved communities with technical and entrepreneurial skills. Its focus is on equipping the next generation with the tools to participate in—and benefit from—the ongoing global energy transition.
Projects rolled out under this initiative showcase the intersection of education, technology, and purpose. In Cox’s Bazar, Bangladesh, Schneider is using digital twin technology to help displaced communities acquire skills in solar panel repair and e-waste recycling. In India, Kenya, Vietnam, and Thailand, students engage in real-world sustainability challenges through the Conserve My Planet program. In Brazil, mobile training units deliver renewable energy education to incarcerated youth, supporting their reintegration into society and reducing repeat offences.
“This achievement is not just about hitting a number,” said Esther Finidori, Chief Sustainability Officer at Schneider Electric. “Surpassing one million trained individuals is a proud moment, and a reminder of what’s possible when purpose meets action. Education remains one of the most powerful levers of long-term transformation.”
On the environmental front, Schneider Electric’s results indicate strong progress on multiple fronts. Since 2018, the company has helped its customers save and avoid 734 million tonnes of CO₂ emissions—crossing a significant 700-million-tonne milestone that reflects the accelerating adoption of sustainable practices and technologies globally.
Progress is also evident in its decarbonization efforts across the supply chain. Emissions from the company’s top 1,000 suppliers have now been cut by 48 percent, just two percentage points shy of its end-of-year goal. These gains have been driven by the Zero Carbon Project, which combines local adaptation, technical training, and renewable energy support to help suppliers reduce emissions.
Meanwhile, the company’s Decent Work Program reached 79 percent coverage in Q2—up from 40 percent a year earlier. This expansion reflects Schneider’s efforts to improve working conditions and compliance in key regions, including the Middle East and East Asia. It forms part of a broader commitment to embedding social equity within global operations and value chains.
As the end of its current sustainability program approaches, Schneider Electric’s message is one of urgency and resolve. “With six months left in our 2021–2025 Schneider Sustainability Impact program, our priority is clear: accelerate with determination and deliver lasting impact,” said Finidori.
The Q2 results reinforce Schneider Electric’s positioning as not only a sustainability leader in name, but in action. As ESG scrutiny intensifies globally, Schneider continues to set a high bar for how business can—and should, shape a more inclusive and sustainable future.
