LONDON, July 24 (Reuters) – Exxon Mobil and Chevron’s recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces?An $800 billion combination would certainly evoke memories of Standard Oil, the conglomerate John D. Rockefeller created in 1870 that...
Author: Energy Crossroad (Energy Crossroad)
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Uganda Adopts Innovative Energy Financing to Expand Electricity Access Amid Debt Pressures.
Uganda is turning to innovative and flexible financing models to scale up electricity access, in response to rising public debt and changing consumer demand. The country is leveraging public-private partnerships (PPPs), blended finance, and regional collaboration to achieve universal energy access by 2040, reduce reliance on state borrowing, and stimulate inclusive economic growth. Facing a...
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Namibia targets 143 GWh green baseload power by 2030
Namibia plans to generate 143 GWh of green baseload electricity by 2030 as part of its clean energy push under the recently launched Sixth National Development Plan (NDP6). The target forms part of the country’s strategy to use its solar and wind resources to develop a green hydrogen industry and reduce dependence on fossil fuels....
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Namibia could achieve energy self-sufficiency by 2035
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...
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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...