Headquartered in Tokyo, Japan, Fuji Electric Co. has been awarded a contract for a complete geothermal power facility for the Olkaria I Geothermal Power Station (Olkaria I) in Kenya. The contract was awarded by main EPC project contractor Marubeni Corporation owned by Kenya Electricity Generating Company (KenGen). Marubeni Corporation is headquartered in Chuo-ku, Tokyo and…
By Tsvetana Paraskova The United States welcomes competition from Russia on the global energy markets, but Russia can no longer use energy as an economic weapon, U.S. Secretary of Energy Rick Perry said on Thursday during his meeting with Russia’s Energy Minister Alexander Novak in Moscow. At the meeting, “Secretary Perry also expressed his disappointment…
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), has approved a $1 million grant to Independent Power Producers (IPPs) in Angola, in efforts to encourage private investment in renewable energy. The bank explained that the SEFA grant will be used to establish a one-stop shop unit known as the…
By Oke Peter In demonstration of its commitment to the empowerment and realisation of sustainable energy, leading financial institution in Nigeria, First City Monument Bank (FCMB) in partnership with a solar solution provider, OneWattSolar have brought together experts in the field of renewable energy, solar systems, finance and Blockchain technology to discuss opportunities for innovative…
Fresh sparring between Washington and Beijing over trade kept world stocks close to three-week lows on Wednesday, while a slight dollar pullback gave little respite to emerging markets, Indian rupee plumbied new record lows. Oil prices extended to 80 dollars a barrel as Hurricane Florence advanced and U.S. sanctions started weighing on Iran’s exports. Analyst…
By Julianne Geiger In what is largely seen as a win for the Libyan National Army’s (LNA) General Khalifa Haftar, the United States Treasury Department, in conjunction with the United Nations, slapped sanctions on Libyan militia strongman Ibrahim Jadhran over the June attacks on the country’s vital oil ports, according to a Wednesday afternoon press…
The delay in the award of new oil blocks and uncertainties over existing marginal oilfields are upsetting industry players, amid a warning that the country’s economic development could be jeopardised. Nigeria is projected to witness a shortage of crude oil, as new refineries may have to compete with the sale of the product at the…
By Tsvetana Paraskova Despite reduced costs and efficiency improvements, the UK oil and gas industry could lose its significance as a key contributor to the UK economy and energy supply, due to record low drilling activity and lack of new project approvals, Oil & Gas UK, the main representative body for the UK’s offshore industry,…
By Energy Worth The management of the Nigerian Ports Authority (NPA) has denied any wrong doing in the bid process leading to award of the dredging of the Warri Port Channel to favour any bidder. Reacting to the allegation of process fraud brought against it by one of the project bidders, Dredging Atlantic Limited, the…
By Nick Cunningham Oil demand could peak as soon as five years from now. Predicting the point at which the world reaches peak oil demand has become something of a cottage industry. The estimates range, but tend to fall somewhere around 2030 or later. However, two new predictions – just out this week – put…
