LONDON, July 9 (Reuters) – Oil prices climbed on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea, along with concerns over steep U.S. tariffs on copper and a forecast for lower U.S. oil production. Brent crude futures gained 48 cents, or 0.7%, to $70.63 a barrel...
Author: Energy Crossroad (Energy Crossroad)
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Viewpoint: Strategic coalitions in nuclear business
Eni Ghana and its Joint Venture (JV) partners have formally declared the commercial potential of the Eban-Akoma hydrocarbon discoveries located in the Cape Three Points Block 4 (CTP-B4) offshore Ghana. This move marks a pivotal advancement toward full-scale development of the oil and gas fields. The Declaration of Commerciality, officially submitted on July 3, 2025,...
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Oil exploration drives Namibia’s foreign investment to N$13.9 billion
Ongoing oil exploration and appraisal activities have propelled Namibia’s net foreign direct investment (FDI) to N$13.9 billion in the first quarter of 2025, according to the Bank of Namibia. The surge represents a 28.8% increase from the previous quarter and a 14.5% rise year on year, underscoring the impact of sustained activity in the country’s...
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Nigeria Togo Owe Over $11 Million in Q1 2025 Electricity Debt
In the first quarter of 2025, Benin and Togo accumulated more than $11 million in unpaid electricity bills to Nigeria, according to the Nigerian Electricity Regulatory Commission (NERC). Out of a total $17.24 million billed to six international customers, only $5.8 million was recovered, representing a collection rate of just 34%. While Niger Republic fully paid its invoice of $3.03 million,...
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U.S. Department of Energy Warns Risk of Blackouts Is Rising
The U.S. Department of Energy has warned that blackouts could increase substantially in the coming years unless more baseload capacity is added to the grid. The department issued its warning in a report that said the premature retirement of generation capacity and the delay in replacing that capacity with new baseload facilities had created a mismatch between...
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GMP expresses concern over misleading media reports based on spurious petition
Accra, Ghana – 7th July 2025 – GMP has taken note of several recent media reports that appear to be based on a petition allegedly submitted by Petraco Energies DMCC to the Economic and Organised Crime Office (EOCO). These reports repeat claims that are not only inaccurate but also misleading and damaging, creating an unfortunate...
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Brazil and China energy agreements include uranium focus
Brazil’s Ministry of Mines and Energy and China General Nuclear Power Group have signed a letter of intent to cooperate on energy transition efforts, sustainability “and the peaceful and sustainable use of nuclear mineral resources in Brazil”. The agreement was signed during the BRICS summit being held in Brazil and was part of a wider...
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Underwater turbine spinning for 6 years off Scotland’s coast is a breakthrough for tidal energy
Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that...
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Climate change erodes 84% of Lagos coastline – Report
A report on the state of Lagos housing market has revealed that over 84 per cent of the city’s coastline has receded over the past 50 years due to a combination of unchecked coastal erosion, rising sea levels, and human activities. According to the recent report, Lagos is grappling with climate-induced challenges, particularly coastal erosion,...
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Floating nuclear power plants to be evaluated for Mediterranean
Friday, 4 July 2025 The American Bureau of Shipping, Core Power and Athlos Energy are to collaborate on the evaluation of the potential of deploying floating nuclear power plants to meet the energy demands of islands, ports and coastal communities in the Mediterranean Sea. The partners will research how floating nuclear power plants (FNPPs) can...