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Climate researchers demand 50% fossil energy output shut
Sopuruchi Onwuka New findings by researchers suggest that world governments and institutions should immediately stop nearly 200 new petroleum development projects and divert over $300 billion industry budget towards accelerating energy transition from fossil. The new study, coauthored by Greg…
Seplat to accelerate growth with MPN acquisition __Brown
Divests Ubima interest for $55 m Earns N100.6 bn revenue, N48.8 bn profit Sopuruchi Onwuka Indigenous multinational independent energy firm, Seplat, has declared that its proposed acquisition of Mobil Producing Nigeria Unlimited (MPNU) remains on course and awaits regulatory approval….
Russian war: EU forays Nigeria, OPEC for new oil and gas supply
Sopuruchi Onwuka With the coordinated Western response against the war in Ukraine, diplomats are mounting pressure on key petroleum producing countries to create new channels of supplies to the European countries which traditionally form the biggest customers of Russian oil…
Strong oil prices to accelerate Nigeria’s economic recovery _OPEC
Inflation remains a challenge Sopuruchi Onwuka Nigerian economy which is currently suffering galloping inflation, high unemployment rate and harsh business environment will find relief from anticipated investments in the hydrocarbon industry and improved oil revenue within the year. The Organization…
Ukraine war: 22m Nigerians, Sahel Africans starving
WFP seeks $777m for 6 month intervention programme Sopuruchi Onwuka Millions of people facing starvation in Sahel Africa and Nigeria will need urgent supply to avert mass undernourishment as the prices for food commodities like grains and vegetable oils reached…
Why OPEC+ stuck to scheduled output for May
Sopuruchi Onwuka With unabated Russian oil exports going rogue and the United States pouring over 180 million barrels of crude into the oil market, a boost in the collective output of the coalition of the Organization of Petroleum Exporting Countries…
Would artisanal refiners accept NUPRC’s invite to legitimate business?
Sopuruchi Onwuka The threats and admonition by power packed government inspection team that visited scenes of pipeline vandalism and destroyed illegal artisanal refining facilities in the Niger Delta signal a fresh start in the vain repetition of treating symptoms instead…
No, OPEC+ builds oil value to 2008 levels
Sopuruchi Onwuka The taunt by international media outlet, Reuters, that the Organization of Petroleum Exporting Countries’ coalition members (OPEC+) lose money by not flooding the market with oil at a time high prices might be based on very wrong assumptions…
The economic war in energy transition, climate change
Sopuruchi Onwuka The prevailing movement for energy transition and the associated stringent measures to quicken the process hold up a flip side which reflects a silent economic war in which the world’s richest and most industrialized countries fight vehemently to…
Energy transition: Africa to host 2 bn cars by 2040
Sopuruchi Onwuka Nigeria and other developing economies of the world must brace to host about two billion vehicles that are fired with petroleum fuels as the industrialized nations that currently champion the global movement for energy transition plan total switch…
