Chariot Limited, the transitional energy company with a focus on Africa, is happy to announce that it has established a new joint venture through a 25% stake in Etana Energy (Pty) Limited ("Etana"), a new South African electricity trading company that has been granted an electricity trading licence by the National Energy Regulator of South Africa ("NERSA").
Eni, the Italian energy company, and PASQAL, a leader in neutral atoms quantum computing, declared their intention to cooperate in creating the next-generation high-performance computing (HPC) solutions for the energy industry.
Two of the top energy technology companies, Technip Energies and Baker Hughes, have announced a Memorandum of Understanding (MoU) that lays the groundwork for their collaboration on the joint development of a new liquefied natural gas (LNG) modularized solution for the onshore market with a capacity above 1 and up to 2 million tons per annum (MTPA).
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), announced the successful closing of its acquisition of Zakher Marine International (ZMI).
Oil and gas firms, clearly, have a more difficult route to decarbonization. All the same, their involvement in climate change mitigation is equally important. In fact, both investors and customers are holding them responsible for their actions.
Tarek El Molla, Minister of Petroleum and Mineral Resources held two separate meetings with World Bank officials at COP 27, the first being with Riccardo Puliti, the bank's Vice President of Infrastructure, and the second with Paul Noumba Um, the bank's Regional Director of Infrastructure in the Middle East and North Africa.
During the most recent Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2022, PETRONAS announced that it will expand its sustainability solutions to the Middle Eastern market through six new supply and commercialization collaborations.
As part of its efforts to expand renewable energy in Egypt, the European Bank for Reconstruction and Development (EBRD) announced the contribution of a new tranche of financing worth $5.5 million to TAQA Arabia’s solar energy project in El Minya, the EBRD said in a statement.
The O&G industry is a primary contributor to greenhouse gas (GHG) emissions, with an estimated 75% of all GHG emissions coming from the production and consumption of energy. For upstream O&G, the bulk (~6%) of global GHG emissions come directly from fugitive emissions and flaring, of which methane (CH4) is the primary constituent. Since hydrocarbons will remain an important, low cost and dominant part of the global energy mix for years to come, it is incumbent on the industry to adopt new technologies & workflows to decarbonize and produce oil & gas more sustainably. ‘Zero Flare’ is just one key example of decarbonization, for which Egypt is a leader and visionary country.
As the energy transition unfolds, upstream companies are coming under increasing pressure to decarbonize. Governments, investors, financial markets, society, and other stakeholders are pushing for change. Companies need to define their transition strategies, future-proof their business, and protect their social license to operate.
