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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…
Qatar secures France’s 27-year LNG supply deal
Qatar Energy and TotalEnergies have signed two long-term LNG agreements under which Qatar will supply up to 3.5 million tons per year of LNG to France for 27 years beginning in 2026, Qatar’s state giant said on Wednesday. TotalEnergies is…
African economies to rebound in 2024
Africa’s economic activity will likely slow again this year amid taxing headwinds but is expected to recover in 2024, according to the International Monetary Fund’s latest regional outlook. Growth in sub-Saharan Africa’s gross domestic product is forecast to edge down…
Algeria names new CEO for Sonatrach
Algerian state television has reported that President Abdelmadjid Tebboune has dismissed Toufik Hakkar and named Rachid Hachichi as the new chief executive of state energy firm Sonatrach. Hakkar has served as the CEO since February 2020. During his time at…
Fossil still accounts for 80 percent of global energy mix __Eni
Sopuruchi Onwuka Despite the global hype for energy transition, indications are rife that coal, oil and gas will continue to dominate the global energy demand in the foreseeable future even as new and greener energy forms continue in slow growth…
UN demands costly route to maritime decarbonization
Industry to shell $118 bn annually on fuel transition Sopuruchi Onwuka, with agency reports Transitioning global shipping and sundry maritime logistics to cleaner fuels would require costlier operating capital for the industry, threatening the economies of small island nations and…
OPEC projects demand resilience from 2024 economic boom
Sopuruchi Onwuka The Organization of Petroleum Exporting Countries (OPEC) is providing strong market incentives for producers and investors in the petroleum industry, pointing at demand resilience that would surpass pre-pandemic levels despite recovering production from key member states. According to…
Saudi Aramco targets $50 billion from shares
Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse after consultations with advisers, the Wall Street Journal reported. The sale could happen before the end of the…
China to haul $40 bn at chip industry competition
China’s government is working to push massive 300 billion yuan, the equivalent of $41 billion, into its semiconductor sector as the country ramps up efforts to catch up with the U.S. and other rivals. The cash haul to be raised…
