With global oil discoveries at some 1.73 trillion barrels, according to BP’s Statistical Review of World Energy [viii] and annual oil production running at 94.7 million barrels per day, the world has enough oil for at least another half century. At the same time new discoveries and new oil producers are further weakening OPEC’s ability to influence the global oil market.[ix]
A book review Over the years there have been many books about some of the failures, successes and near misses in the development of Africa’s energy sector. This book by NJ Ayek looks at some of the reasons behind Africa’s energy sector evolution. Like many previous writers have said bringing […]
Despite the many advances in the electrification of Africa, much of the continent has yet to be connected to the grid or have access to reliable and affordable power supplies. According to World Bank figures, Africa’s electrification rate is just 42%.
It is likely that any further production cuts by OPEC and Russia to maintain prices will be harder to implement if all it does is boost American oil producer’s profit margins and encourage greater investment in well drilling and completions.
Most people would be surprised to learn that the earth is now greener than the 1980s.