By Irina Slav Saudi Aramco, in partnership with United States Air Products and Chemicals, will build the first hydrogen fuel cell station in the Kingdom, leveraging Air Products’ SmartFuel hydrogen fueling technology, Reuters reports, citing a joint statement. The station, to start operating in the second half of this year, will fuel a fleet of…
By Prajakta Khandagale The hybrid power solutions market is forecast to register its name in the billion-dollar fraternity down the line of six years, by exceeding a revenue of $55 billion by 2024 with a projected CAGR of 18.5 per cent over 2018-2024. This is according to a recent industry report put forward by Global…
Oke Peter with Agency Report The Department of Petroleum Resources and the Ministry of Petroleum Resources have said there are no irregularities in the ongoing renewal of oil and gas leases. A News Agency of Nigeria’s (NAN) report, on Thursday, quoted the House of Representatives as saying it would investigate the Minister of State for…
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate change and pressure from investors. The conclusion of the discussions was worrying for those present – pressure is rising and the industry is…
By Nick Cunningham The oil market is heading towards rebalancing this year, most analysts seem to think, with OPEC+ production cuts, combined with a potential slowdown in U.S. shale eating away at the surplus. However, the “rebalancing” all hinges on the steady demand growth projections that most analysts have at the heart of their forecasts….
Oil prices rose by more than one percent on Friday as turmoil in Venezuela triggered concerns that its oil exports could soon be disrupted. Reuters has reported. Washington on Thursday, signalled it could impose sanctions on Venezuela’s crude exports as Caracas descends further into political and economic turmoil. International Brent crude oil futures were at…
The first-ever global assessment of environmental rule of law finds weak enforcement to be a global trend that is exacerbating environmental threats, despite prolific growth in environmental laws and agencies worldwide over the last four decades. Despite a 38-fold increase in environmental laws put in place since 1972, failure to fully implement and enforce these…
In its determination to further optimise operations through adequate maintenance of installations and reduction of downtime, Nigeria’s leading electricity distribution company, Ikeja Electric Plc (IE), has commenced the electronic tagging of electricity poles across its network. The exercise, known as ‘E-Pole Tagging Project’ entails labeling of all 11KV and 33KV High Tension (HT) poles with…
The Federal Government has declared the willing-buyer- willing-seller policy as one of the surest steps to addressing Nigeria’s power challenges. The Guardian has reported. Vice President, Professor Yemi Osinbajo, noting that power remains very critical to national development, said if the generation companies do not have the resources to produce electricity; other companies can take…
CNOOC Limited today announced its business strategy and development plan for the year 2019. The Company’s net production target for 2019 is 480 million to 490 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 63% and 37%, respectively. The Company’s net production for 2018 is expected to…
