Petroleum Producers Raise Concerns Over Rapid Energy Transition in Africa

The African Petroleum Producers Organisation (APPO) has expressed reservations about the swift implementation of energy transition initiatives in Nigeria and other African countries. APPO, an inter-governmental organization comprising 18 member nations in the oil and gas sector, argued that Africa stands to be disproportionately affected by the accelerated energy transition promoted by developed nations.


During the 3rd Biennial International Conference on Hydrocarbon Science and Technology, organized by the Petroleum Training Institute in Abuja, the Secretary-General of APPO, Omar Farouk, emphasized that Africa should not be compelled to halt fossil fuel exploration. He stressed that African nations, including Nigeria, have a responsibility to utilize their abundant oil and gas resources to advance their economies.


The conference's theme, "The Future of the Oil and Gas Industry: Opportunities, Challenges, and Development," prompted Farouk to highlight the potential challenges that developing countries, particularly those in Africa, may face due to rapid energy transition. He pointed out that if anticipated technological advancements in renewable energy research do not materialize as expected, and the oil and gas industry is prematurely abandoned, it could lead to a global energy supply shortage benefiting only wealthy nations.

Comments

Post a Comment

Popular posts from this blog

Breaking News: Mavin Records Explores Multi-Million Dollar Sale or Investment Deal

Image
  Mavin Records, a leading Nigerian and African music label, is reportedly exploring investment opportunities or the possibility of an outright sale. According to a recent article published by Billboard on October 6, 2023, Mavin Records is currently in discussions to secure external investment, which could involve the acquisition of a portion of the label or an outright sale. The report indicates that several investment firms and major record labels, including Universal Music Group (UMG) and HYBE, have expressed interest in this potential deal. Billboard's report suggests that the investment or sale could be valued at approximately $125 million initially, with the potential to increase to as much as $150 million or even $200 million. Notably, Mavin Records has previously entered into collaborative agreements with international entities. For instance, Rema's music in the United States is distributed by Virgin Music, an independent distribution company under UMG. Founded by Niger
Read more

Atiku Expresses Concerns Over Tinubu's Certificate Controversy: Nigeria's Reputation at Stake

Image
Atiku Abubakar, the former presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections, has raised concerns about the controversy surrounding President Bola Tinubu's Chicago State University certificate submitted to the Independent National Electoral Commission (INEC). He emphasized that this issue is not just about individuals but affects Nigeria's reputation as a whole. Atiku called upon all relevant stakeholders to uphold the principles of democracy by ensuring transparency and truthfulness regarding the certificate submitted by the President. He also highlighted that the university had released Tinubu's academic records and complied with the court's ruling to do so. despite President Tinubu's objections, a federal judge, Nancy Maldonado, overruled and ordered the release of the academic records, emphasizing the importance of transparency in such matters. This ongoing controversy has significant implications for Nigeria's image on the g
Read more

Mohbad Was Killed Because He Is A Betrayer – Portable

Image
Portable, a controversial Nigerian artist, has made a statement suggesting that the late Ilerioluwa Aloba, also known as Mohbad, met an unfortunate fate due to betrayal. According to Portable, this betrayal was by individuals associated with Marlian Records, referring to them as Mohbad's enemies. He explained that Mohbad was initially nurtured and supported by Marlian Music but eventually distanced himself from them, accusing the label of not showing him love. Portable insinuated that this departure and Mohbad's association with rivals became the catalyst for his untimely demise. Furthermore, Portable suggested that those responsible for Mohbad's death had ulterior motives, aiming to frame Naira Marley, the label's leader. He expressed hope that Naira Marley would be safeguarded from this situation, emphasizing that Naira Marley had assisted Mohbad out of goodwill, only to face betrayal in return.
Read more