The United States has clarified its position on India’s purchases of Russian oil, stating they don’t object to India buying discounted Russian crude, as long as Western shipping and financial services aren’t used. This approach aims to limit Russia’s revenue from oil sales without disrupting the global oil supply.
In the News
-
-
Oil prices have been on a rollercoaster ride in recent months, and the latest surge above $90 a barrel is causing concern for consumers and businesses alike. This excerpt explores the key factors driving the current oil price spike, including geopolitical tensions, supply disruptions, and the complex interplay of global economic forces.
-
A $12 million investment aims to transform agriculture in sub-Saharan Africa with solar irrigation and IoT technology, boosting drought resilience and food security.
-
EKEDC pauses its 100MW electricity supply deal due to funding issues, seeks innovative solutions to enhance Lagos’s power stability.
-
Ginlong (Solis) Technologies clinches the Top Brand PV Inverter Award in the Netherlands for the ninth year, reinforcing its market dominance and innovation in solar energy.
-
NERC mandates Nigerian DisCos to source 10% of energy from renewables by 2025, marking a significant shift towards sustainable electricity and green energy adoption in Nigeria.
-
Sasol announces a major revamp of its executive committee, streamlining portfolios for enhanced strategic growth, operational efficiency, and innovation in the energy sector.
-
The European Union (EU) is investigating two Chinese companies over potential unfair advantages gained through subsidies in their bids for a solar power plant project in Romania. This move highlights the EU’s growing scrutiny of foreign subsidies and their impact on fair competition within the European market.
-
In a move that has sent shockwaves through the nation, Nigeria’s electricity regulator has approved a significant increase in tariffs for the country’s higher-consuming customers. This decision comes as the…
-
Oil major Shell is pushing for a longer license from the US before giving the green light to a natural gas project in Venezuela. The “Dragon” field, located near the maritime border with Trinidad and Tobago, holds significant gas reserves and could provide a vital energy source for both nations.