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BRICS expansion draws new market pattern, away from energy transition
Sopuruchi Onwuka The selection of new members into the bloc of developing countries hosted in BRICS will not only cause name change in the group whose name is an acronym of the five founding members: Brazil, Russia, India, China and…
ACFTA: China’s $160 bn package to fund African industrialization
Sopuruchi Onwuka New race for African governments in the ongoing Chinese loan disbursements would be to advance industrial propositions that would enable flow of local goods and services in the toll free African Continental Free Trade Area (ACFTA), shifting the…
ADNOC hauls out $12.6 bn for Covestro
Abu Dhabi National Oil Co (ADNOC) has signaled a willingness to raise its informal offer to 60 euros per share for a valuation of $12.6 billion for German plastics and chemicals maker Covestro. The latest offer would represent a premium…
NCDMB lays template for Africa’s resource optimization
Sopuruchi Onwuka Nigeria has continued to provide credible guides to new African petroleum producers on optimization of resource value, empowering industry regulators and political leaders with critical lessons on averting resource curse. The Executive Secretary of the Nigerian Content Development…
Oil prices become stable demand concenrns wane
Brief surge in oil prices rolled to a stop at the weekend after China’s uncertain economic outlook and a large US inventory build up addressed supply concerns. Also, pledge by Iran to increase its oil output proptly wiuped fears that…
TotalEnergies acquires Total Eren for €1.5 bn
TotalEnergies has announced full acquisition of Total Eren, its renewable energy partner, and integrating it into its corporate renewables business unit. The €1.5 billion deal entails buying out Total Eren’s other shareholders and increasing TotalEnergies’ stake to 100%. TotalEnergies had…
IFC Partners with South African Banks to Boost Climate Finance
International Finance Corporation (IFC) has declared partnership with the Banking Association South Africa (BASA) to help increase climate finance in the country and pave the way for a transition to a low carbon economy. Under the new agreement, IFC will…
Toyota advances battery tech for EVs
Dutch kids build smart solar cars Toyota has announced advances in extending the life of solid-state batteries and optimization of Lithium-ion batteries, both used in the running of electric vehicles. The development came as a team of students at Eindhoven…
First-class passenger silently hijacks, diverts US plane
Another causes scare with social media Sopuruchi Onwuka, with agency reports Two separate incidents of bomb scare caused Southwest Airlines to divert a flight between Las Vegas and Hawaii to Oakland; and Alaska Airlines diverted its flight midway from Seattle…
Iran seizes one oil tanker, chased away from two
Sopuruchi Onwuka It has been a busy week for the United States Navy in the Persian Gulf where it was struggling to ward off relentless Iranian forces from disrupting flow of merchant vessels ferrying commodities through the Strait of Hormuz….
