Namibia: Eureka! Third Oil Discovery Announced The National Petroleum Corporation of Namibia (NAMCOR), in partnership with Shell and QatarEnergy has announced a light oil discovery of oil in the Jonker-1X deep-water exploration well. The well was drilled in Block 2913A & 2914B (PEL 0039) in the Orange Basin, offshore southern Namibia, NAMCOR said in a…
Equinor buys Suncor Energy’s UK Oil Assets For $850 Million Equinor has signed a deal to buy for $850 million the UK assets of Canada’s Suncor Energy, including a stake in a massive producing oil field and an interest in one of the major planned developments in the UK North Sea. The transaction, subject…
Russia’s Oil Revenues Plunged by 48% in February Russian tax revenue from crude oil and petroleum products plummeted by 48% in February from a year earlier due to the much lower price of Russia’s flagship crude grade after the EU banned imports of Russian oil, according to Bloomberg estimates based on official Russian data. Total…
Shell to Investigate Oil Pipeline Explosion in Rivers The Shell Petroleum Development Company of Nigeria Limited says an investigation into fire explosion in Rumuekpe community, by a government-led joint investigation team will commence to ascertain the cause of the incident. Recall that another fire explosion from an illegal crude oil tapping point rocked Rumuekpe community…
Dozens Killed in Crude Oil Explosion in Rivers State The Youths and Environmental Advocacy Centre (YEAC-Nigeria) through its Crude Oil Spill Alert System (COSAS) and members of its “One Million Youth Volunteers Network of Human Rights Defenders and Promoters in the Niger Delta” in Rumuekpe Community in Emohua Local Government Area has confirmed that there…
ACWA Power Inks Major Renewable Development Deal Kazakhstan ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has announced a ground-breaking partnership agreement with the Republic of Kazakhstan’s Ministry of Energy and Samruk-Kazyna, the sovereign wealth fund of Kazakhstan to lead and develop a 1GW…
Schneider Electric’s Ecostruxure Supports Net-Zero Buildings Schneider Electric, the leader in the digital transformation of energy management and automation, today announced its enhanced solutions to increase building sustainability. Included are new integration capabilities in EcoStruxure™ Building Operation 2023, EcoStruxure Connected Room Solutions, and EcoStruxure Power Monitoring Expert, which will help simplify and speed-up access to…
Big Oil Takes Centerstage at Houston Meet as Markets, Alliances Shift Top energy executives and officials from around the world will descend on Houston next week just as the political fallout from Russia’s invasion of Ukraine a year ago continues to distort global oil supply lines and put long-term energy security front of mind for…
Universal Energy Facility Provides Grants to Solar Projects Across Nigeria The Universal Energy Facility (UEF) – a results-based financing facility managed by Sustainable Energy for All (SEforAll)– has announced that it will provide grants to renewable energy companies who applied to have their projects financed as part of the facility’s Stand-alone Solar for Productive Use…
Africa’s total population is projected by Statista, a leading provider of market and consumer data, to reach about 2.5 billion by 2050. As of 2020, the continent’s total population stood at around 1.34 billion, with Nigeria, Ethiopia, and Egypt as the most populous countries. According to Statista, Africa would experience population explosion in the coming…