Bill Gates’ latest superyacht, Breakthrough, is more than a billionaire’s playground it is a bold statement in clean-energy innovation at sea. Valued at over $500 million, the 118.8-meter vessel runs on liquid hydrogen stored at –423°F, enabling silent, emission-free cruising while generating enough power to run 30 of the Microsoft co-founder’s 66,000-square-foot mansions simultaneously. Built...
Author: Energy Crossroad (Energy Crossroad)
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Republicans who backed Trump’s anti-environment bill have accepted over $105m from big oil
The Republican lawmakers who voted for Donald Trump’s anti-environment tax and spending bill have accepted more than $105m in political donations from the fossil fuel industry, a new analysis has found, raising concerns about their relationship with big oil.Signed into law last month, the One Big Beautiful Bill Act includes billions of dollars in giveaways...
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NNPCL reduces fuel price after Dangote Refinery’s adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday. confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945. This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza,...
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bp-Eni venture seeks to fast-track output from Namibia discovery
(Bloomberg) – Azule Energy, a joint venture between bp and Eni, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world’s newest hotspots. Azule last year negotiated a stake in Namibia’s block 2914A from operator Rhino Resources, and...
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South African court reverses TotalEnergies’ approval for offshore block
(Bloomberg) — A South African court overturned a decision granting TotalEnergies SE environmental authorization for an oil exploration block offshore the country’s west coast.The Western Cape High Court ruled that the environmental impact assessment for Total’s Block 5/6/7 was “deeply flawed, failing to address key risks, legal requirements, and public participation,” Green Connection, one of...
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African Development Bank Commits $40 Million to Catalyze the Alliance for Green Infrastructure Project Development Fund Boosting Africa’s Energy Transition
The African Development Bank (AfDB) has taken a decisive step to accelerate the rollout of climate-aligned infrastructure in Africa by committing $40 million to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD). This injection of capital is aimed at turning early-stage concepts into fully bankable green energy and climate-resilient projects across the...
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Russia’s Fuel Exports Plummeted in July
Russian seaborne fuel exports fell by 6.6% in July, primarily due to increased domestic demand and planned refinery maintenance. Recent Ukrainian drone strikes have damaged several Russian refineries, forcing them offline and potentially leading to a further decline in refined product shipments in August.The disruptions to refineries are expected to increase Russia’s crude oil exports...
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Global oil markets will face record surplus in 2026, says IEA
(Bloomberg) – Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million bpd, surpassing even the average buildup during the pandemic year of 2020, data from the IEA’s monthly report showed....
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Exxon signs deal to explore Trinidad deepwater blocks, could see $21.7B investment
Exxon Mobil said Tuesday it signed a deal to explore a vast deepwater area offshore Trinidad and Tobago for oil and gas, and the country’s energy minister said the company could spend as much as $21.7B if it finds sufficient reserves. The search will take place off Trinidad’s east coast in a region that spans...
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Nigeria generates N5.21tn from oil sales in H1
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, raked in N5.21tn from the sale of crude oil, gas and other economic activities in the first six months of 2025. It said the revenue inflow represents 42.7 per cent of the record N12.2tn it generated in the entire 2024 fiscal year. The figure, however,...