OPEC, the world’s leading oil producer group, contradicts the IEA’s forecast of imminent peak oil demand. OPEC maintains a bullish outlook, expecting oil consumption to rise for decades to come.
In the News
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The latest IEA report shows an increasing energy access deficit in Sub-Saharan Africa, highlighting significant challenges and investment needs.
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GWK’s Christiana maize mill has installed a 1 MW solar PV system, marking a significant step towards sustainable energy use in the agricultural sector. This project aims to reduce the mill’s carbon footprint and operational costs while promoting renewable energy adoption in South Africa.
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A recent study by SAREC reveals significant delays in South Africa’s grid connection system, emphasizing the need for urgent reforms to accelerate renewable energy projects.
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Nigeria opens a new CNG facility in Ogun State to enhance natural gas supply, supporting the country’s industrial and energy needs.
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The fight to acquire Citgo Petroleum, the seventh-largest oil refiner in the United States, has intensified. A court overseeing the auction of shares in Citgo’s parent company, Venezuela’s PDVSA, is allowing bidders to increase their initial offers submitted by the June 11th deadline.
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Nigeria Customs seized 280,135 liters of petrol worth N115 million in a major operation, intensifying efforts against smuggling.
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South Africa is encouraged to adopt international grid battery storage strategies to enhance its energy infrastructure and support the renewable energy rollout.
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Attacks by Yemen’s Houthis on Red Sea tankers are disrupting global oil shipments, forcing a surge in shipments around Africa’s Cape of Good Hope. This rerouting is raising concerns about oil supply stability and pushing up shipping costs.
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TotalEnergies and Air Products sign a 15-year agreement to supply 70,000 tons of green hydrogen annually, enhancing platinum demand.