energy
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Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn). Less than half that…
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The speaker of the US House said Sunday he was pushing an “aggressive” timeframe for getting a multi-trillion-dollar bill addressing immigration, tax cuts and more to Donald Trump’s desk by April, within his first 100 days in office. Speaker Mike Johnson and fellow congressional Republicans are eager to help the incoming president enact his campaign…
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Grenada is set to become a major energy hub as Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a historic multi-billion dollar deal with Global Petroleum Group, to launch one of the Caribbean’s largest oil and gas ventures. A statement by the Group CEO, Dr Aisha Achimugu, made available to PUNCH Online…
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The Federal Ministry of Petroleum Resources and stakeholders in the oil and gas sector have raised concerns about the need to implement the 2021 Petroleum Industry Act (PIA) for economic growth. Nicholas Ella, Permanent Secretary of the Ministry of Petroleum Resources, alongside other stakeholders, made the call at a one-day stakeholders’ engagement on “Harnessing the…
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Norwegian Prime Minister Jonas Gahr Store on Friday inaugurated Europe’s first gigawatt-scale factory for Lithium Iron Phosphate (LFP) batteries. Located in Arendal, southern Norway, the factory is owned by the start-up Morrow Batteries. Achieving yet another significant milestone, Morrow Batteries can produce 3 million battery cells annually, amounting to a capacity of 1 GWh. Addressing…
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Namibia has secured more than two billion Namibia dollars (about 110 million U.S. dollars) from the World Bank for a major transmission network expansion and renewable energy integration project. The Transmission Expansion and Energy Storage (TEES) Project will include the development of a 465 km transmission line as well as the establishment of a utility-scale…
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The Management of the Nigerian National Petroleum Company Limited (NNPCL) says the rehabilitation of the Kaduna Refining and Petrochemicals Company (KRPC) will be completed by the end of 2024 after years of being shut down due to lack of maintenance. The Managing Director of KRPC, Mustafa Sugungun, disclosed this on Monday during an oversight visit…
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Petrol prices are exceeding 150p per litre for the first time since last November, according to new data. Figures from the website Fuel Prices Online shows typical pump prices reached 150.1p per litre on Monday. The average price of a litre of diesel is also at the highest level since November 2023, at 158.3p. Experts say rising…
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Analysis: Why is Russia attacking Ukraine’s power stations? We reported earlier that Russia fired four missiles and 12 Shahed drones into eastern Ukraine overnight. Ukraine’s air forces said nine of the drones were shot down in four regions. Looking at the latest strike, military analyst Sean Bell noted only 24 hours earlier Ukraine saw 58 drone attacks…
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Amid a flood of cheap Chinese solar panel imports, Europe has been debating restrictions to protect the continent’s few local solar manufacturers. International Energy Agency data showed that in 2023, European Union (EU) countries installed record levels of solar capacity, 40 percent more than in 2022, with most panels and parts coming from China, reaching…
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A new draft of a global deal from the COP28 climate summit is a “sorely needed improvement” on tackling fossil fuels, WWF has said, after a previous version sparked outcry. However, there is still no specific reference to the phase out of fossil fuels. The UN’s climate body published the proposed text of the deal…
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There are mounting concerns as Nigeria’s power decade privatisation process is expected to elapse on October 31, 2023. It has become more problematic following the decades-long crisis within Nigeria’s power sector. For over 62 years, the country’s electricity value chain, from distribution to generation and transmission, has been bedevilled with challenges. Meanwhile, the government attempted…
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Germany is considering using an out-of-use airport to implement its geothermal plans, as Berlin looks to become more energy-independent – and cleaner. Geothermal energy is a form of thermal energy that has been exploited as a source of both heat and electric power. The site of the former Tegel airport is just one of many…
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In a landmark move geared towards improving its energy landscape, Burkina Faso’s military leaders have signed a deal with Russia to build a nuclear power plant to increase electricity. It is the junta’s latest move to align itself with Russia after falling out with most of its Western partners. The junta has turned to Russia…
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The Russian government on Thursday imposed a temporary restriction on the export of petrol and diesel in order to stabilize prices in the domestic market. “Temporary restrictions on the export of car petrol and diesel fuel have been introduced in Russia. The decree was signed by the Prime Minister Mikhail Mishustin. The decision was made…
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Experts from the UN’s nuclear watchdog, the International Atomic Energy Agency (IAEA), observed mines on the periphery of Ukraine’s Zaporizhzhia nuclear power plant, Director General Rafael Grossi said Monday. Europe’s biggest nuclear power plant has been under Russian military and operational control since March 4, 2022, roughly two weeks after it launched its offensive against…
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