News / International
IEA: Half of Power Plants Built in 2014 to be Fueled by Renewables
The International Energy Agency (IEA) released its annual “World Energy Outlook” report. Among the most interesting statistics was that almost half of new power plants built worldwide in 2014 were built to utilize renewable energy. The IEA claimed that this is “clear sign that an energy transition is underway.”
Ghana ‘Should Focus on Gas Production’
Former Chief Executive Officer of the Ghana National Petroleum Commission (GNPC), Tsatsu Tsikata, has said the country should focus on gas production rather than oil production.
Liberia, Kosmos Energy to Close Deal on Controversial Blocks
Liberia appears to be nearing closer to sealing the lease of two controversial oil blocks with Kosmos Energy, the based out of Dallas, Texas, company.
Africa-focused Tullow Oil to Cut Spending in 2016
Africa-focused oil producer Tullow Oil expects to cut its capital expenditure from $1.9b in fiscal year 2015/16 to $1.2b the following year.
Israel Invites Oil Majors Following Nationwide Anti-Monopoly Protests
Israel is inviting international oil companies to further explore its offshore waters for natural gas, Israel’s Minister of National Infrastructure, Energy and Water Resources Yuval Steinitz announced.
Azerbaijan to Enter Egypt’s Petrochemical Industry
SOCAR, Azerbaijan’s state-owned energy company, is interested in taking a stake in Egyptian oil refineries, Reuters reports.
Pipeline Vandalism in the Niger Delta Costs $14b
Pipeline vandalism in the Niger delta costs the state and oil companies $14b a year and devastated up to 52,000 hectares of land in 2014.
