TotalEnergies Doubles Profits in its Best Year Ever TotalEnergies (NYSE: TTE) saw its net profit double in 2022 to a record $36.2 billion and announced an increase in dividends and share repurchases after the best annual results for the company and for Big Oil ever. The French supermajor reported on Wednesday $36.2 billion in adjusted…
Renewable Energy Surge Signals a Tipping Point for Power Sector Emissions An expected surge in renewables electricity generation over the next few years signals that the world is close to the tipping point of emissions in the power sector, the International Energy Agency (IEA) said on Wednesday. In its Electricity Market Report 2023 published today,…
Hydrogen Market Growth to Surge in 2023 Hydrogen development, given its application across various industries, is indispensable to attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts. Against this backdrop, hydrogen production capacity is estimated to reach 4.5 million tons per annum (mtpa) worldwide by the end of the year, representing…
Iraq to Discuss with U.S. how to Pay Russian Energy Firms, Iraqi Foreign Minister Says Iraq will discuss with Washington this week how to pay dues owed to Russian oil companies despite sanctions, Foreign Minister Fuad Hussein said on Monday. “We will discuss this problem with the American side. There are sanctions in place that…
Totalenergies gets CO2 Storage Licenses in the Danish North Sea TotalEnergies has been awarded two licenses to explore CO2 storage potential in the Danish North Sea. The licenses are located 250 kilometers off the west coast of Denmark and cover an area of 2,118 km2. The acreage includes the Harald gas fields, currently operated by…
India Looks to Boost Natural Gas Consumption with Long-Term LNG Deals India plans to secure long-term deals for the supply of liquefied natural gas in a bid to reduce the share of coal in its energy mix. The biggest gas importer on the subcontinent, Petronet, is looking to secure some 12 million tons of LNG…
Nigeria Lawmakers Waiting On Dangote Refinery The House of Representatives has said that there is no going back on the removal of subsidy as the completion of the Dangote Refinery is what is holding back its removal. According to Honourable Adebayo Balogun, representing Ibeju Lekki Federal Constituency said that Subsidy will be removed as soon…
Wike Commends Army over Fight against Oil theft, Other Criminalities Rivers State Governor Nyesom Wike has applauded the Nigerian Army, Six Division Port Harcourt for their efforts in curbing crimes and criminality in the state, particularly illegal oil bunkering activities. Wike particularly extoled the General Officer Commanding, Six Division for efforts put in place since…
EGYPS 2023 Conference Highlights Egypt’s Role as an Important Strategic Hub Cairo, Egypt, 6 February 2023 – Christopher Hudson, President of dmg Events, confirmed that the Egypt Petroleum Show (EGYPS 2023) in its sixth edition, has global prominence, and highlights Egypt’s leadership role as an important strategic hub. EGYPS 2023 taking place from 13-15 February is hosted under…
Participation for SAIPEC 2023 grows with further attending delegations confirmed from Namibia, Guyana, Senegal and Tanzania and other countries across the globe The seventh edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), hosted by the Petroleum Technology Association of Nigeria (PETAN) will return to the Eko Convention Center, Lagos next month (13-17…