As Europe races ahead with its hydrogen plans, many other parts of the world are looking to develop their own hydrogen markets. But IRENA warns that the expansion of the hydrogen market must be carried out strategically to ensure it supports the transition away from fossil fuels to renewable alternatives.
Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.
Oil prices fell overnight as the debacle of the Russian Oil Price Cap scheme continues in Europe.
The chief executive officer of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh Danquah has said the national oil company will continue to fully implement local content in its exploration and production (E&P) operations.
As COP27 was progressing in Sharm El-Sheikh, Egypt, Vijay Vaitheeswaran, the global energy and climate innovation editor of The Economist, made a compelling observation. He said, “We will see a much stronger focus on how the energy industry itself can play a role as a decarboniser. It’s about, in my view, a grown-up way of understanding that the oil and gas is here to stay. A number of countries, especially emerging markets, are going to rely on it.”
ABUJA — Nigerian President Muhammadu Buhari opened the first oil drilling site in the country’s north Tuesday, saying it will bring energy security and economic development.
Dr Matthew Opoku Prempeh, the Minister for Energy says the desire for countries to transition into other alternative sources of energy usage was particularly good for Africa and its women and children.
Renewables are exploding. Countries around the world are adding clean energy production capacity at a breakneck pace in a race against the clock to shore up energy security and beat climate change. While environmentalists and economists alike have been warning for decades that the future of the energy industry – and, indeed, the global economy – lies in renewable energies and not fossil fuels, industry and policy leaders have been slow to adapt. Until now.
In this week’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week.
The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said on Tuesday that Nigeria lost $2 billion, equivalent to N1.3trillion, to oil theft between January and August this year.