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High prices expose oil firms to $500 Bn investment loss
Europe’s renewable power rises 157% to 547 TWh in 2021 Sopuruchi Onwuka Staking huge investments on the back of the soaring oil prices without maintaining steady outlook in energy transition could leave assets worth some $500 billion stranded. Two environmental…
Russian-Ukraine tension opens new LNG market opportunities
As German axe dangles on Nord Stream 2 pipeline project Sopuruchi Onwuka Global gas exporters mainly from Middle East and Africa keenly watch the power play between Western powers and Russia over the security of Ukraine. And precariously located in…
How Reconnaissance popped Namibian oil play
Sopuruchi Onwuka The ongoing exploration campaigns and emerging leads suggest that the international wild cat explorer, Reconnaissance Energy Africa, might have discovered a new petroleum play that could add two African nations into the global petroleum production map. The company…
Climate change: expert questions CO2 storage procedure, energy transition
Sopuruchi Onwuka Carbon capture and storage (CCS), one of the novel technologies that hold promise of diverting industrial emissions to artificial reserves, is yet to address the question of leakages. The question from Professor John Underhill of Heriot-Watt University in…
NCDMB set to host Africa Local Content Investment Forum
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to host the Africa Local Content Investment Forum (ALCIF) next week. The event slated to hold at Eko Hotels and Suits in Lagos will provide a platform…
OPEC to shoot up oil output this year
Sopuruchi Onwuka Cumulative crude oil output by the Organization of Petroleum Exporting Countries (OPEC) will rise by significant 2.7 million barrels per day in 2022, according to the Energy Information Administration (EIA) of the United States. The agency which provides…
Net Zero climate targets to cost $276 trn
Sopuruchi Onwuka Reaching the climate redemption targets set by the world governments and institutions would task the global economy with significant $276 trillion between 2020 and 2030. The huge figure translates to annual cost of e $9.2 trillion in cumulative…
Husk Power Systems to build 500 minigrids in Nigeria
Signs U.N. Energy Compact to connect 1m users to 5,000 minigrids Sopuruchi Onwuka Microgrid electricity provider, Husk Power Systems, has declared intention to expand its rural clean energy services in Nigeria and other nations in Africa and Asia where it…
Ardova’s LPG facility to go live by December
Sopuruchi Onwuka Integrated petroleum marketing company, Ardova Plc, has declared that its ambitious storage facility for holding liquefied petroleum gas (LPG) also called cooking gas is targeted for commissioning by the end of the year. The company which held a…
Pulling Seplat Energy from the precipice
Sopuruchi Onwuka The board crisis that currently rocks Nigeria’s leading indigenous petroleum exploration and production company, Seplat Energy Plc, fits into the caste of Nigerian business partnerships. Perhaps the only difference is that the prevailing board dispute is totally unexpected,…
