Wednesday, April 14African Business News
Shadow

Energy

8 things you should know about hydrogen energy

8 things you should know about hydrogen energy

Energy
1. Not all hydrogen is created equal: what colour is your hydrogen? There are four colours characterizing ‘human-made’ hydrogen, based on the manufacturing process. Brown hydrogen has been created from coal by using water and heat, coal can undergo gasification for hundreds of years. In this process, the chemicals react to produce town gas, now more commonly known as syngas, this contains a mixture of gases which are chemically distilled to make hydrogen. Grey or Black hydrogen has been sourced from fossil fuels, with most of it produced using steam-methane reformation (SMR) of natural gas. This is the least expensive produced hydrogen, with emissions almost always released without carbon capture in place. Blue hydrogen is also produced from fossil fuels, yet with carbon capture ...
Saudi Arabia launches zero-carbon city: NEOM

Saudi Arabia launches zero-carbon city: NEOM

Energy
Saudi Arabia’s crown prince unveiled plans to build a zero-carbon city at NEOM, the first major construction project for the USD 500 billion flagship business zone aimed at diversifying the economy of the world’s largest oil exporter. The city, known as ‘The Line’, would extend over 170 km and be able to house a million residents in carbon-positive urban developments powered by 100% clean energy. Plans for the city include no cars or streets and ‘zero carbon emissions’, according to a televised appearance by Prince Mohammed. The Line will fulfill the daily requirements within a five-minute walk and the city can be traveled end-to-end in 20 minutes. “We need to transform the concept of a conventional city into that of a futuristic one,” Prince Mohammed said. The city wi...
Oil majors hinge future investments on PIB outcome, fiscal framework

Oil majors hinge future investments on PIB outcome, fiscal framework

Energy
Oil majors in Nigeria have hinged their investment decisions on the outcome of the Petroleum Industry Bill (PIB), and other fiscal frameworks by the Federal Government. According to them, the country did not take any major investment decision in deepwater between 2015 and 2019, despite a number of available potentially viable projects. The African Energy Chamber (AEC), in its African Energy Outlook 2021, had disclosed that with the $24 billion loss of investments in the oil and gas sector, Nigeria would account for 30 per cent of the total of $80 billion loss of investments that would be recorded in the petroleum industry across Africa. Speaking during the management session of the virtual Nigerian Association of Petroleum Explorationists (NAPE) 2020 conference, the oil majo...
‘We remain committed to renewable energy, human capacity development’

‘We remain committed to renewable energy, human capacity development’

Energy
Oil major, Total E&P Nigeria Limited has expressed confidence in maintaining a profitable financial year amid the harsh business terrain occasioned with the Covid 19 pandemic, even as it reaffirms commitment to renewable energy and human capacity development. The Executive Director, Corporate Affairs and Services, Total E&P Nigeria Limited, Abiodun Afolabi, represented by the Manager, Diversity and Method Human Resources, Total E&P Nigeria Limited, Gillian Laniyan at the graduation and closing ceremonies of Total Access to Disability Mobility Initiative Project, added that the pandemic has been challenging for different sectors of the economy, but stated that the company is weathering the storm to achieve a profitable operating year. According to her, the company is a...
Stakeholders seek solution to haulage of petroleum products

Stakeholders seek solution to haulage of petroleum products

Energy
Key stakeholders in the petroleum, transport and logistics sector have raised concerns about the recurring cases of tanker accidents in Nigeria, and called for an end to the development.   Indeed, the Minister of State, Transport, Gbemisola Saraki, noted that such accidents caused by human error could be killing more Nigerians than some diseases. She disclosed this at a workshop organised by Major Oil Marketers Association of Nigeria (MOMAN), and the National Association of Road Transport Owners (NARTO). Speaking at a workshop on, “Truck Renewal Policy,” Saraki, who was represented by the Assistant Director, Mass Transit in the ministry, Angela Keyede, said: “These crashes can be avoided if drivers are disciplined enough while on the road. It might shock you to know th...
FG restates commitment to renewable energy intervention

FG restates commitment to renewable energy intervention

Energy
The Minister of Power, Saleh Mamman, has re-affirmed his ministry’s commitment to driving renewable energy in Nigeria. According to the minister, renewable energy is one of the ministry’s focal points to drive power supply in the country even as it plans to integrate renewable energy through the Paris Agreement and the Vision 30:30:30 to deliver 30GW of electricity with 30 per cent renewable energy mix by 2030. The minister, represented by the Director, Renewable Energy and Rural Power Access, Faruk Yabo, at a virtual launch of Sustainable Use of Natural Resources and Energy Finance (SUNREF), explained that the lack of financing was the key challenge facing the renewable energy and energy efficiency in Nigeria. “It is quite gladdening that the private sector and our partners are ...
‘Why electrifying health centres with solar scheme is critical’

‘Why electrifying health centres with solar scheme is critical’

Energy
The current dismal supply of electricity has been described as a key limiting factor for operational capacity and dissemination of health information through electronic media. With rural communities being the worst hit, child immunisation and maternal health services are parts of health concerns that are reportedly affected by epileptic power supply across health centres. Nigeria may, however, address critical challenges facing health centres at rural communities if the deployment of 5,000 units of mini-grids, being planned across health centres, in the country is fully implemented. Access to sustainable, efficient, clean and reliable energy is a major focus of the United Nations Sustainable Development Goals (SDGs). If this goal is met, its multiplier effect, according to sta...
Hotels, companies may shut down over electricity tariff hike

Hotels, companies may shut down over electricity tariff hike

Energy
•Consumers reject increase in tariff as job losses loom Some civil society groups, hotel and tourism companies, yesterday, in Abuja, rejected the recent increase in electricity, saying there was no justification for the increase. They raised concerns over the implications of the actions as hoteliers and tourist companies feared closure of many hotels and businesses.The stakeholders stated this at a joint press conference by Network of Electricity Consumers Advocacy of Nigeria (NECAN), Nigerian Hotels Association (NHA), Federation of Tourism Associations of Nigeria (FTAN), Hotels Owners Forum Abuja (HOFA). In the face of dwindling revenue, the Federal Government had backed out of subsidising consumption of electricity, therefore, making the cost to go up by over 100 per cent. St...
NNPC, new FPSO arrives Nigeria

NNPC, new FPSO arrives Nigeria

Energy
The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) happily announce the arrival of the Abigail-Joseph Floating, Production, Storage and Offloading (FPSO) unit to the shores of Nigeria. Prior to her sail-away, the FPSO underwent upgrade, refurbishment and life extension works in Keppel Shipyard, Singapore, to meet specified standards and specifications. The excellent partnership between NNPC, Nigeria’s Department of Petroleum Resources (DPR), FIRST E&P, YINSON and Keppel Shipyard helped ensure these critical pre-deployment activities for the FPSO were completed in record time. A team of young Nigerian professionals were part of the successful execution works in the Keppel Shipyard and they will f...
Weakening demand, rising supply weigh crude futures

Weakening demand, rising supply weigh crude futures

Energy
Weakening demand due to anticipated second wave of the coronavirus pandemic and rising supply have continued to weigh on market sentiment, dampening crude futures. Oil prices opened lower on Monday with Brent Crude dropping by 0.94 per cent to $43.11, while WTI Crude traded at $39.75, dropping by 1.29 per cent. Nigeria’s Bonny Light however traded higher, recording 1.43 per cent rise to $43.23 per barrel. The unabated COVID-19 spread and rising fatalities worldwide, continue to be the most significant issue capping oil demand recovery. The global case count stands at 17.97 million, with total deaths at 687,067, according to the latest data from the John Hopkins University. Recently, it became evident that oil demand recovery wouldn’t be as anticipated, as the recent resurgence...