Namibia has the potential to meet all its electricity needs from local sources by 2035, but only if energy development is properly planned and supported by policy reform, a parliamentary committee has heard.Jean Basson, from the Renewable Energy Industry Association of Namibia (REIAoN), told MPs that Namibia’s current electricity demand of 600 to 700 megawatts...
Author: Energy Crossroad (Energy Crossroad)
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BP appoints new chair to oversee shift back to fossil fuels
Albert Manifold, ex-boss at buildings material company CRH, to take over from embattled Helge Lund BP has appointed a successor to its embattled chair, Helge Lund, as the company breaks from its net zero strategy and pivots back to fossil fuels. Albert Manifold, the former boss of the building material company CRH, will join the BP...
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OPEC is Playing The Long Game
“There is no peak in oil demand on the horizon,” the head of OPEC, Haitham al Ghais, said last month in Canada. Demand will continue to increase as global population grows, he added. And OPEC will be there to respond with what supply is necessary. OPEC is now playing the long game. Fast-forward a month...
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Chevron closes Hess acquisition after winning Exxon legal battle
HOUSTON, July 18 (Reuters) – Chevron (CVX.N), opens new tab closed its $55 billion acquisition of Hess (HES.N), opens new tab on Friday after winning a landmark legal battle against larger rival Exxon Mobil (XOM.N), opens new tab to gain access to the largest oil discovery in decades.Chevron CEO Mike Wirth’s strategy to turn around...
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Oil prices rise after new EU sanctions on Russia
LONDON, July 18 (Reuters) –Crude oil futures rose on Friday while gasoil futures jumped to a 17-month high as investors weighed new European Union sanctions against Russia.Brent crude futures climbed 68 cents, or 1%, to $70.20 a barrel by 1327 GMT. U.S. West Texas Intermediate crude futures gained 81 cents, or 1.2%, to $68.35.The Reuters...
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Oil Markets Ignore Trump’s Russia Threats
Oil markets have largely ignored Trump’s threats to impose 100% secondary tariffs on any country that buys Russian exports, with prices dropping significantly on Tuesday morning. U.S. President Donald Trump’s threat to choke off Russia’s oil revenue via secondary sanctions would deal a hammer blow to Moscow’s finances, but markets are betting that the risk...
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BP-Eni Joint Venture Finds Gas Offshore Angola
Azule Energy, a joint venture firm between BP and Eni, has made a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola. The well was spudded on April 1, 2025 in a water depth of 95 meters, approximately 60 kilometers off the coast. It encountered gas- and...
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Malawi Secures $2.15 Million Boost for Power Interconnection With Tanzania
Malawi has received a significant boost in its quest to end persistent electricity blackouts, following the approval of a USD 2.15 million (approximately MWK 3.6 billion) grant for the Tanzania-Malawi (TAMA) Electricity Interconnector Project. The funding, approved by the Multilateral Cooperation Centre for Development Finance (MCDF), will be used to update the feasibility and Environmental...
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Sahara Energy Secures $225m Loan to Drive Global Expansion, Sustainability.14 July 2025(Abuja)
Sahara Energy Resource Limited has announced the successful closing of a USD 225 million unsecured, committed Revolving Credit Facility (RCF). The facility was significantly oversubscribed, underscoring the confidence of the international financial community in Sahara’s business model, performance, and strategic vision of bringing energy to life responsibly. The new facility is supported by a syndicate...
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Oil steadies near three-week high on signs of tighter supplyBy Enes TunagurJuly 14, 20251:54 PM GMTUpdated 3 hours ago
LONDON, July 14 (Reuters) – Oil prices steadied on Monday, holding close to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while tariff uncertainty weighed.Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while U.S. West Texas Intermediate...