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Oil prices climb on strong demand, Middle East crisis
Sopuruchi Onwuka The prices of crude at international commodity exchanges surged on Thursday as the International Energy Agency (IEA) agreed with rival Organization of Petroleum Exporting Countries (OPEC) that global demand for petroleum energy will remain string in the year….
Red Sea ship diversions unsettle vessel charter, bunker markets
* Shell, MOL, others halt all transits Sopuruchi Onwuka Continued Pirate attacks by unyielding Yemeni Houthi rebels on international shipping lines and the deterring airstrikes by the United States and the United Kingdom have made crossing canals and seas in…
India dumps sanction crippled Russia, shops oil supply in M. East
India dumps sanction crippled Russia, shops oil supply in M. East Sopuruchi Onwuka, with agency reports One of the fastest growing economies, India, continues to take its best options to meet its energy needs amidst the global security and trade…
Iran seizes oil tanker in Gulf of Oman
Sopuruchi Onwuka Iran declared on Thursday that its navy seized an oil tanker in the waters between Iran and Oman, according to foreign media sources. Iran’s state-run news agency IRNA confirming the seizure after the United Kingdom Maritime Trade Operations…
Gas flows from 8 new sources in Saudi Arabia’s Eastern Province, Empty Quarter
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz announced that Saudi Aramco has discovered two natural gas fields in the Empty Quarter: Al-Hiran and Al-Mahakik natural gas fields. Saudi Arabia has announced multiple new gas discoveries in new…
Shell, KUPEC committed to Egyptian gas development
Sopuruchi Onwuka Anglo-Dutch oil major, Shell, has declared commitment to drive its petroleum exploration campaign in Egypt to development stage after full analysis of preliminary discovery in the Northeast el-Amriya block in Egypt’s Mediterranean Sea Vice President and Country Chair…
Rystad projects 13 GW from African geothermal projects
Sopuruchi Onwuka, with agency reports With significant $35 billion investment outlook by 2050, Africa’s geothermal power projects could deliver some 13 gigawatts of electricity, making the continent the third largest geothermal power generator by 2030. According to Rystad Energy, geothermal…
American, European startups ready to deploy flying cars in 2024
Sopuruchi Onwuka, with agency reports US start-up, Alef Aeronautics, and its German competitor, Volocopter, are working to get regulators in both countries to create new regulatory environment and low altitude aviation codes to enable them deploy flying cars and air…
Displacing 21 GW coal generation with nuclar demands $249 bn
Sopuruchi Onwuka, with agency reports It is becoming clearer that the highly hyped energy transition will be a super slow process, promising that fossil fuels would linger long in the global energy mix for a long time into the future….
Co-Founders want ousted Web Summit CEO to divest
Sopuruchi Onwuka Co-founders of Europe’s largest technology conference, the Web Summit, have demanded the ousted Chief Executive Officer, Paddy Cosgrave, to sell his majority stake in its parent company to save the company from industry indignation. Mass resentment towards the…
