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Credit Suisse to write down $17 bn debt
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, Reuters reported. FINMA, the…
African oil women demand policy, fiscal incentives for gender equity
Policy and fiscal incentives, STEM education for the girl child, career growth opportunities for breeding mothers, and displacement cultural norms with task delivery competence form part of the numerous recommendations that pumped out from the gender and diversity debates at…
BP maps $1 bn for EV charging across US
European oil major, BP, has taken strong steps toward its transformation to an integrated energy company. The company announced plans to invest a billion dollars into electric vehicle (EV) charge points across the United States by 2030. The company stated…
Europe’s LNG demand jumps 60% TO 121 MMtpa
Rising demand for liquefied natural gas (LNG) in Europe reached 121 million tonnes in 2022, amplifying the growing independence of the industrial continent from Russian gas supplies. European countries, including the UK, imported 121 million tonnes of LNG in 2022,…
GECF makes case for blue hydrogen
By Seyed Mohsen Razavi The energy sector is undergoing a transformation, with a growing focus on cleaner energy sources and technologies that reduce greenhouse gas emissions and contribute to a more sustainable future. In this context, hydrogen is emerging as…
China generates 1,190 TW of wind, solar power
The renewable energy industry in China now accounts for generation of significant 1,190 terawatts of electricity hours used in the country, nearly hitting its 2030 targets seven years ahead of time. The feat is expected to take out significant part…
UK pays £1.7bn import fraud charges to EU
Great Britain ruled by King Charles III has agreed to pay the European Union princely £1.7 billion in reparation for stolen customs duties on imported goods, concluding payment of the £2.4 billion slammed on the Nigeria’s colonial master for fraudulent…
Nigeria offers 4 unique incentives for tech investors __ Inuwa
Sopuruchi Onwuka Global investors interested in establishing in the Nigerian tech ecosystem have a guarantee of basic incentives that come with existing strong market base of some 200 million people. Director General of the National Information Technology Development Agency (NITDA),…
Nigeria bonds further plummet as S&P Global begins review
Sopuruchi Onwuka As another credit rating agency focuses on Nigeria, the country’s sovereign bonds value took a slip at the weekend as the impact of Moody’s negative rating continues to shake investors’ confidence. Market intelligence services indicated at the weekend…
How ExxonMobil earned $6.3 bn/hour, $153 m/day, $56 bn profit in 2022
Sopuruchi Onwuka By controlling cost and taking full advantage of strong demand and high market prices, American multinational oil firm, ExxonMobil, posted annual profit of $56 billion in 2022. The company’s financial performance in the year translates to average daily…
