Africa needs $277 billion per year to respond to the climate emergency through nationally determined contributions (NDCs). This is according to a study by the Climate Policy Initiative, whose report has just been published. Climate finance should be multiplied by nine in Africa. This is the main finding of a report recently published by the […]

Worldwide renewable energy employment reached 12.7 million last year, a jump of 700,000 new jobs in one year despite the lingering effects of COVID-19 and the growing energy crisis, according to a new report.  Renewable Energy and Jobs: Annual Review 2022 identifies market dynamics as major factors influencing employment generation in renewables, along with labour and […]

When Nigeria’s Petroleum Industry Act (PIA) was signed into law in August 2021, I spoke about the positive changes the law would be driving in terms of increased transparency and energy sector productivity. Now, we’re seeing indications that the PIA is, indeed, yielding fruit. The state-owned Nigerian National Petroleum Company (NNPC) recently became NNPC Limited, […]

An American billionaire tech giant and the CEO of SpaceX  Elon Musk, who has in recent oil conference held in Norway drummed support for continous exploitation of fossil fuel. A father of 10 children, said on Monday the world needs to “make more babies” — and keep digging for oil, AFP reported. The richest man […]

Japanese businesses should invest more in Africa, where investment opportunities and returns on investment are among the highest in the world, African Development Bank President Dr. Akinwumi Adesina urged participants at the 8th Tokyo International Conference on African Development (TICAD8). Adesina commended the Japanese government and private sector for their strong support to Africa’s development. […]

While the introduction of the NNPCL promises to be advantageous to the country’s energy industry, realistically speaking, there are certain challenges that need to be promptly and properly addressed for the new NNPCL to function effectively and achieve its objectives   Nigerian government made an official announcement confirming the complete transformation of the Nigerian National […]

The MSGBC Basin is an alphabetical formation given to the countries in the West African sub-region in which hydrocarbon basin resides, these countries are Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea-Conakry. The MSGBC Basin has of recent seen as a focal point for African oilexploration through series of major world-class discoveries in Senegal and Mauritania. To date, […]

In 2021, ExxonMobil became the first integrated energy company to announce participation in a program to certify natural gas production through a pilot at Poker Lake, New Mexico, a key area of its Permian Basin operations, using standards developed by MiQ, a nonprofit organization. Our methane emissions reduction efforts This independent certification process from MiQ […]

EBITDA for the first quarter of 2022 was USD 65.5 million, up from USD 58.8 million in the fourth quarter of 2021, following one full lifting to the Company at a price of USD 120 per barrel. There are no scheduled liftings to BW Energy in the second quarter of 2022. “We experienced high energy prices and strong […]

In an era of uncertainty, the time to start managing stranded cost risk is now by Raja Atoui, Partner, Bain & Company Middle East and Grant Dougans, Partner, Bain & Company Washington DC Energy executives evaluating capital investments in fossil-fuel infrastructure hear two very different narratives about the future. On the one hand, pricing levels and […]