energy
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Oil prices climbed on Tuesday over fears of tightening global supply as the August output cuts of OPEC+ oil-producing countries approach, coupled with anticipation of more Chinese economic stimulus. International benchmark Brent crude traded at $82.65 per barrel at 10.08 a.m. local time (0708 GMT), a 0.20% gain from the closing price on Monday of…
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Despite huge budgetary allocations to the power sector from one administration to another, Nigerians have continued to spend their hard-earned money, running into billions of naira, on installation of solar-powered energy. One of the major issues Nigerians are battling is perennial epileptic power supply by distribution companies across the country. It is therefore not a…
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The Executive Chairman, Board of Directors, Geregu Power Plc, Mr Femi Otedola, says there has not been improvement in Nigeria’s power sector since he was born. Otedola disclosed this on Friday at the “Closing Gong ceremony” of the Nigerian Exchange Limited, NGX in Lagos. He decried that the real problem facing Nigeria’s power sector is…
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Gazprom claims it can’t fix a leak in Nord Stream 1, BUT its Western service partner disagrees. Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe’s difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord…
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Germany’s gas reserves are at 80% and are on track to meet its 85% target Gas reserves are filling up “faster than expected” in Germany, despite drastic drops in Russian deliveries, the government announced on Sunday. The country now expects to meet its October gas reserves target during September. “Despite the difficult circumstances (…) the reservoirs are…
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In what is being hailed a breakthrough for the country’s national security, nuclear authorities in China have announced that their researchers have discovered rich uranium deposits deep below the Earth. According to scientists involved in the project, large industrial-grade deposits were found at depths previously thought impossible to reach, increasing China’s estimated total uranium reserve…
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China will boost production in more of its coal mines to increase the nation’s coal reserves. Officials also announced, during the annual parliament gathering, that it will guarantee the transportation of coal and further improve coal pricing mechanisms. The announcement comes as the central government’s approval of new coal mining projects and expansion of production…
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On Thursday — almost six months after Donald Trump, a hard denialist who doesn’t understand the difference between weather and climate, officially pulled the United States out of the Paris Agreement (condemning the world to climate catastrophe had he been re-elected) , newly elected president Joe Biden, who rejoined the agreement immediately as his first presidential decision, committed his country to halving its 2005 emissions levels by 2030 at an online meeting of 40 world leaders.…
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