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.
Nigeria is one of Africa’s most developed, resource-rich countries and yet it has notably failed to provide its people with a reliable electricity supply. That is at last beginning to change. Five years after the privatisation of Nigeria’s power sector, even the most luxurious Lagos hotels still suffer daily blackouts. […]
On a worldwide basis, the industry decommissions an average of 120 offshore rigs a year. The prospective decommissioning of over 2,000 aging offshore oil and gas platforms, subsea wells and related assets is an upcoming challenge for companies as well as government treasuries… Offshore oil drilling, pioneered in the Gulf of Mexico in […]