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Fossil to account for 20% of energy mix by 2050
Sopuruchi Onwuka The highly credible BP energy outlook holds that the world will displace some 60 percent of fossil fuels with greener renewable energy in the next 28 years as the prevailing energy transition continues to gather momentum in response…
Benin Republic calls Zenith to deal on Sèmè oilfield
Sopuruchi Onwuka, with agency reports Government of Benin Republic has called Zenith Energy come for negotiation on the terms of a production sharing contract (PSC) on the prospective Seme oilfield, just close to the same location Nigerian government is preparing…
Uganda to announce next bid round in May
Sopuruchi Onwuka, with agency reports Investors and players seeking assets in Uganda must start early bid packaging ahead of May when the country is scheduled announce its next exploration licensing round. Uganda’s Energy Minister Ruth Nankabirwa Ssentamu in a statement…
Corruption, corruption as Nigeria argues against $11 bn award to P&ID
It mainly stories of corruption and corrupt systems in the Africa’s biggest economy as lawyers stepped up arguments on the case of breach of contract between the federal government and Process and Industrial Development (P&ID) Nigeria’s lawyers in the case…
Uganda targets first oil, transnational pipeline by 2025
Government of Uganda is pushing for delivery of two petroleum industry projects to make the country a major oil export by 2025. The Kingfisher field is part of a $10 billion scheme to develop Uganda’s oil reserves under a lake…
WoodMac projects 17mboe from deepwater by 2030
Production to plateau in countries with low exploration investment Sopuruchi Onwuka An updated report by industry investment advisory firm, Wood Mackenzie, estimates that global deepwater petroleum production assets would pump up to 17 million barrels of oil equivalents per day…
Moody’s predicts lower margins from higher upstream opex in 2023
Sopuruchi Onwuka Global upstream operating expenditure in the petroleum industry is set to jump in 2023 but investors would expect decreasing marginal returns from reinvestments in the industry which would be ruled by unstable market outlook in the midst of…
Chinese BYD hogs global EV market, dwarfs Tesla
Chinese automaker BYD outsold Tesla by a wide margin last year with the help of its inexpensive electric cars. BYD has now become the biggest EV maker in the world, according to the South China Morning Post, but only when…
Experimental ‘Flying V’ could hog the commercial airspace
An experimental aircraft, the Flying-V, is under development to rule the commercial aviation industry after the smaller model passed tests and the manufacturers take the challenge to create bigger double fuselage version. The plane which has two bodies merging at…
Big oil, global experts rally support for 24th WPC
Sopuruchi Onwuka Country organizing committee for the triennial World Petroleum Congress has declared massive industry and government support for the 24th edition of the global industry confab slated for Calgary, Canada in 2023. Media statement available to The Oracle Today…
