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Saudi Aramco leads world’s natural resource giants into 2023
Sopuruchi Onwuka With market capitalization of some $1.8 trillion, the national oil company of Saudi Arabia, Aramco, stands as the world’s biggest natural resource company in the world. The company which sits on estimated reserves base of 270 billion barrels…
Completely decarbonizing jet fuel?
Arizona State University research shows a pathway toward full decarbonization of U.S. aviation fuel use by substituting conventional jet fuel with sustainably produced biofuels. The study found that planting the grass miscanthus on 23.2 million hectares of existing marginal agricultural…
WoodMac projects 17mboe from deepwater by 2030
Production to plateau in countries with low exploration investment Sopuruchi Onwuka An updated report by industry investment advisory firm, Wood Mackenzie, estimates that global deepwater petroleum production assets would pump up to 17 million barrels of oil equivalents per day…
Moody’s predicts lower margins from higher upstream opex in 2023
Sopuruchi Onwuka Global upstream operating expenditure in the petroleum industry is set to jump in 2023 but investors would expect decreasing marginal returns from reinvestments in the industry which would be ruled by unstable market outlook in the midst of…
OPEC’s oil output up 120,000 b/d in December
A rebound in Nigerian production raised OPEC’s oil output in December by 120,000 barrels per day (bpd) compared to November, according to a monthly Reuters survey published on Wednesday. Despite the increase in oil production last month, OPEC was still…
Chinese BYD hogs global EV market, dwarfs Tesla
Chinese automaker BYD outsold Tesla by a wide margin last year with the help of its inexpensive electric cars. BYD has now become the biggest EV maker in the world, according to the South China Morning Post, but only when…
Sony, Honda unveil Afeela EV
Sony Honda Mobility Inc. has declared that its electric vehicle will launch under the brand Afeela, the latest debut in a field already crowded by earlier entrants such as Tesla Inc. While unveiling the venture’s first prototype during Sony’s CES…
Hyundai becomes world’s 3rd largest carmaker
Hyundai is now the third largest automaker in the world by volume, behind only Volkswagen and Toyota, which are often at odds for first and second place among the biggest car companies in the world. In a little over half…
Gas man in the Decade of Gas: Aka Nwokedi drives NGA into 2023
Sopuruchi Onwuka As his entire life continues to swirl in the world of petroleum gas, Mr Akachukwu Adeyinka Nwokedi enters the new year with a new role that will properly define him as a complete gas man who will lead…
Automakers end Toyota Avalon, VW Passat, other models
Sopuruchi Onwuka The revolution in the energy industry and the prevailing global response to climate change have not just redefined the direction of investments in the automobile industry, they are also changing the fate of popular auto brands and models….
