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Democratic Senator Joe Manchin on Friday threatened to hold up more of President Joe Biden’s nominees if the Administration doesn’t stick to the energy lane carved forward by the Inflation reduction act. In a Houston Chronicle opinion piece on Friday, Senator Manchin said that the Administration should stick with implementing the IRA that was passed,…
March 13, 2023
Shell, QatarEnergy, and Namibia’s state oil firm NAMCOR have discovered light oil in a deepwater exploration well drilled offshore the West African country, the UK-based supermajor said on Monday. Drilling operations at the Jonker-1X exploration well established the presence of a reservoir with light oil, Shell said, adding that further appraisal activities with dynamic data…
March 6, 2023
The International Monetary Fund has added a dose of optimism to oil markets by revising its global economic growth outlook to reflect a lowered risk of a slowdown. In its latest monthly World Economic Outlook, the lender said that it expected inflation to peak and the global economy to grow by 2.9% this year. While…
January 31, 2023
The Joint Ministerial Monitoring Committee of the OPEC+ group is expected to recommend keeping the current levels of oil production when it meets next week, in a wait-and-see approach amid significant uncertainties about supply and demand in the coming weeks, OPEC+ delegates told Bloomberg on Tuesday. The JMMC is meeting online on February 1 to…
January 24, 2023
After central bankers brought about recessions in the past, the world economy was able to recover by adding more energy supply. This time we are dealing with a situation of true depletion; there is no good way to recover by adding more energy supplies to the system. A combination of rising population and diminishing returns…
January 11, 2023
Crude oil prices began the week with gains after China reopened its borders, spurring optimism that the country was indeed coming out of its Covid-related self-isolation. This optimism pushed both Brent crude and West Texas Intermediate up by more than a percentage point in morning Asian trade today, although both remained below $80 per barrel…
January 9, 2023
President Muhammadu Buhari on Tuesday, flagged off the commercial production of crude oil and gas from the Kolmani Integrated Development Project, the first of its kind in Nigeria’s North. Located along th2e fields of Gombe and Bauchi, the Kolmani project, with Oil Prospecting Licence 809 and 810, lies in the Gongola Basin of the Upper…
November 23, 2022
18 out of 20 entities sponsoring the UN Climate Change Conference COP27 directly supported or partnered with the fossil fuel industry, according to an analysis by Corporate European Observatory (CEO) and Corporate Accountability. The revelation comes on the heels of investigation by Global Witness that a total of 636 fossil fuel lobbyists were accredited to…
November 18, 2022
With the global climate crisis driving action and investment towards energy transition initiatives, Nigerian government and energy stakeholders have been urged to evolve new technologies, strategies and an eco-friendly regulatory environment to stand a good chance of tapping into the avalanche of opportunities in more sustainable energy sources. This much was said by the President…
November 10, 2022
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Democratic Senator Joe Manchin on Friday threatened to hold up more of President Joe Biden’s nominees if the Administration doesn’t stick to the energy lane carved forward by the Inflation reduction act. In a Houston Chronicle opinion piece on Friday, Senator Manchin said that the Administration should stick with implementing the IRA that was passed,…
March 13, 2023
Shell, QatarEnergy, and Namibia’s state oil firm NAMCOR have discovered light oil in a deepwater exploration well drilled offshore the West African country, the UK-based supermajor said on Monday. Drilling operations at the Jonker-1X exploration well established the presence of a reservoir with light oil, Shell said, adding that further appraisal activities with dynamic data…
March 6, 2023
The International Monetary Fund has added a dose of optimism to oil markets by revising its global economic growth outlook to reflect a lowered risk of a slowdown. In its latest monthly World Economic Outlook, the lender said that it expected inflation to peak and the global economy to grow by 2.9% this year. While…
January 31, 2023
The Joint Ministerial Monitoring Committee of the OPEC+ group is expected to recommend keeping the current levels of oil production when it meets next week, in a wait-and-see approach amid significant uncertainties about supply and demand in the coming weeks, OPEC+ delegates told Bloomberg on Tuesday. The JMMC is meeting online on February 1 to…
January 24, 2023
After central bankers brought about recessions in the past, the world economy was able to recover by adding more energy supply. This time we are dealing with a situation of true depletion; there is no good way to recover by adding more energy supplies to the system. A combination of rising population and diminishing returns…
January 11, 2023
Crude oil prices began the week with gains after China reopened its borders, spurring optimism that the country was indeed coming out of its Covid-related self-isolation. This optimism pushed both Brent crude and West Texas Intermediate up by more than a percentage point in morning Asian trade today, although both remained below $80 per barrel…
January 9, 2023
President Muhammadu Buhari on Tuesday, flagged off the commercial production of crude oil and gas from the Kolmani Integrated Development Project, the first of its kind in Nigeria’s North. Located along th2e fields of Gombe and Bauchi, the Kolmani project, with Oil Prospecting Licence 809 and 810, lies in the Gongola Basin of the Upper…
November 23, 2022
18 out of 20 entities sponsoring the UN Climate Change Conference COP27 directly supported or partnered with the fossil fuel industry, according to an analysis by Corporate European Observatory (CEO) and Corporate Accountability. The revelation comes on the heels of investigation by Global Witness that a total of 636 fossil fuel lobbyists were accredited to…
November 18, 2022
With the global climate crisis driving action and investment towards energy transition initiatives, Nigerian government and energy stakeholders have been urged to evolve new technologies, strategies and an eco-friendly regulatory environment to stand a good chance of tapping into the avalanche of opportunities in more sustainable energy sources. This much was said by the President…
November 10, 2022
