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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…
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…
