German Carmakers to Suffer as China’s EV Boom Accelerates The slump in exports of Germany’s auto industry to China in the first quarter of 2023 could be the beginning of a new long-term trend of “strong disruption” in German-Chinese trade as China’s electric vehicle boom accelerates, a German economic research institute said on Tuesday. German…
India’s Oil Demand Set for Record High despite Dipping in April India’s crude oil imports fell slightly in April from a month earlier and refinery intake dipped month-on-month, according to data from the Joint Organizations Data Initiative (JODI), but on the following month of May, the world’s third-largest crude oil importer saw record fuel demand….
Germany Braces for Swings in Energy Demand and Prices Europe’s biggest economy, Germany, is bracing for another summer of swings in energy demand and prices as the national weather service issues its first heat warning for the season for this week. Germany’s weather forecaster Deutscher Wetterdienst on Sunday issued the first heat warning for the…
Nigerians Initiate Class Action Lawsuit to Recover $533m Oil Revenue A group of Nigerians working across borders have initiated moves to institute a class action lawsuit in the United States of America to recover over $533 million revenue allegedly the proceeds of shortfalls from under-declared Nigerian crude oil exports to the United States. According to…
Seplat JV commences 2023 ‘Eye Can See’ programme, performs over 4,218 eye surgeries since inception Seplat Energy JV held the opening ceremony of this year’s edition of its Eye Can See Corporate Social Responsibility (CSR) initiative at the Oba’s Palace in Benin City, Edo State. The company’s signature CSR health programme is designed to ensure…
NGA calls on Tinubu to revisit Autogas Policy The Nigerian Gas Association (NGA) has urged the Federal Government (FG) to revisit and accelerate the implementation of the Nigerian Autogas Policy launched two years ago as part of the National Gas Expansion Programme (NGEP) under the well-articulated Decade of Gas Policy and Programme.The President of the…
US drillers cut oil and gas rigs for seventh week in a row, Baker Hughes says U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row for the first time since July 2020, energy services firm Baker Hughes Co (BKR.O) said in its…
Nigeria, Morocco, Cote d’Ivoire, Liberia, Benin, Guinea sign MoUs on Nigeria-Morocco gas pipeline Another important milestone was achieved at the headquarters of the Economic Community of West African States (ECOWAS) as four significant Memoranda of Understanding related to the Nigeria/Morocco Gas Pipeline Project were signed. Additionally, the project’s Steering Committee convened to discuss the progress…
Growth in global oil demand is set to slow significantly by 2028 -IEA Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted by the global energy crisis hastening the shift towards cleaner energy technologies, according…
TotalEnergies Strengthens LNG Position in the U.S. TotalEnergies has signed a framework agreement with the US company NextDecade to participate in the development of the Rio Grande LNG project, a liquefied natural gas (LNG) plant located in South Texas. Under the terms of the agreement, and subject to execution of definitive documentation and final investment…
