Oil Surges more than $1 as tight Supply Dominates Oil prices surged about 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of supply tightness amid OPEC+ production cuts. Brent crude futures breached $97 a barrel, and was trading up $2.55 to $96.51 a barrel by 11:40 a.m. ET (1540…
Shell CEO Comes Under Pressure From Within on Renewables Shift Shell CEO Wael Sawan has come under pressure over his strategy from within the energy company after two employees issued a rare open letter urging him not to scale back investments in renewable energy, sparking an internal debate. The open letter, posted earlier this month…
House of Reps Probe Poor Implementation of Cabotage Act The House of Representatives has resolved to investigate the poor implementation of the Coastal and Inland Shipping Act 2003 also known as the Cabotage Act. The poor implementation of the Act, which restricts the use of foreign vessels in domestic coastal trade to promote the development…
TotalEnergies Announces Positive Results in Namibia and will Raise Shareholder Payouts French company TotalEnergies announced on Wednesday some positive results at an exploration well in Namibia and added it would increase its returns to shareholders, according to Reuters. The group, besides increasing returns to shareholders, plans to raise its oil and gas production by 2…
Ammon Drums Up Support For The Minister Of Power, Chief Adelabu Adebayo The Association of Meter Manufacturers of Nigeria has come out to put their weight behind, and to seek for support for the new Minister of Power, Chief Adebayo Adelabu who graciously identified the association and invited it to a fact finding meeting which…
Britain Gives Go-Ahead for Biggest New North Sea Oilfield in Years Britain has given the go-ahead for one of its biggest new oil and gas projects in years, Equinor’s North Sea Rosebank field, saying energy security was the priority despite opposition from environmentalists. Wednesday’s announcement comes after Prime Minister Rishi Sunak watered down interim plans…
How multinationals can drive growth and skills transfer in the African data centre market Faith Waithaka, Cloud and Service Provider Segment Sales Lead: Anglophone Africa at Schneider Electric and Kevin Kent, Founder & CEO of Critical Facilities Efficiency Solutions The outlook for data centre growth on the African continent looks bullish. With a population of almost…
Equinor, Ithaca Energy take FID on UK’s Rosebank Field Equinor and Ithaca Energy have taken the Final Investment Decision (FID) to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing USD 3.8 billion. A statement by Equinor on Wednesday said that the North Sea Transition Authority (NSTA) granted consent for…
MAP Meters: Kaduna Electric Begins Refund to Customers In compliance with the directive of the Nigerian Electricity Regulatory Commission (NERC), Kaduna Electric has started refunding customers who purchased meters under the Meter Assets Provider (MAP) scheme. This was disclosed by the Head of Corporate Communication of the distribution company, Abdulazeez Abdullahi, in a statement. Abdullahi…
Africa Needs Partnership in Oil and Gas Technological Development – APPO The African Petroleum Producers’ Organisation (APPO) has said that what Africa needs from the developed nations of the world is not hand-outs but partnerships to develop oil and gas technology on the continent. The Secretary General of APPO, Dr. Omar Farouk Ibrahim, stated this…
