Bavijas Energy

Europe's climate and energy policies are very prescriptive and geared toward picking energy transition winners and losers instead of letting the market decide which solutions reduce emissions at the lowest cost for society, ExoxnMobil's chief executive Darren Woods says.  The Inflation Reduction Act (IRA) in the United States, on the other hand, sets emissions standards and lets the market work to deliver on the objective of reducing emissions and lowering emissions intensity, Woods said this week on the  podcast  of Nicolai Tangen, the chief executive of Norway's sovereign wealth fund, the world's largest.  Europe's 'Stick' Approach  While the IRA doesn't pick winners and losers, Europe is "very prescriptive in trying to micromanage the solutions," Exxon's Woods said. "I think it's a huge mistake to be picking winners and losers and focusing on specific technologies," he added.  "Instead we should be looking more broadly

  Many depot owners may soon shut down their facilities due to the inability to meet the new financial requirement of about N10bn by the Nigerian National Petroleum Company Limited as the cost of lifting fuel from its ships,  The PUNCH  has learnt. The PUNCH  on Wednesday noticed that many filling stations in Lagos State were not selling products to the public. Sources at the depots told  The PUNCH  that depot owners were struggling to raise between N5b-N10bn to make new orders from the NNPCL. “NNPCL has enough stock in-country and we still buy from them pending when arrangements would be made for us to start ordering our products ourselves. Now, we have to raise about N10bn, some N5bn depending on the volume of the order to be able to access new products,” the sources said. He added that the amount was in addition to the payment already made before the increase in the price of petrol. The National Controller, Operations of the Independent Petroleum Marketers Association of Nigeria, Mi

As the global energy demand keeps skydiving with an uptick in the human population, there is an urgent need to efficiently use the energy resources we currently have while also working to close the huge existential supply gap. One way to achieve that is through optimisation of energy use; a task that the Internet of Energy is set out to do. IoE is the implementation of Internet of Things technology into distributed energy systems to optimise the efficiency of energy infrastructure and reduce wastage. IoE helps link power from the point of generation, distribution, and consumption to ultimately optimise its use and drastically lower costs. It uses the technology of IoT to wire and manage data and operations throughout multiple points within a power grid structure. For instance, digital power monitoring and demand-side energy management tools say, a network of smart meters, sensors, actuators, computers, and a home area network interconnected to optimise energy, increase supply reliabili

In October 2017, Nodent; a popular paint maker within the Uyo metropolis suffered an unforeseen downtime at its factory that cost it some bucks. The firm’s entire production was shut down for three consecutive days at such a critical time of the year when paint makers experience peak production. Nodent's only power-generating set broke down leaving it with no backup system, not even power from the national grid in the face of a tall log of production orders to clear. Customers were disappointed and the firm lost a lot in earnings. The thing is, Nodent didn't foresee that breach coming. If they did, some sort of preventive maintenance would have been implemented. Factory downtimes are anathema to smooth business operations and often lead to revenue loss in terms of deferred production and should be properly managed. Though Nodent failed at it, scheduled preventive maintenance over the years has been the best way to ensure our engines keep humming safely for the most times possib

Our country Nigeria is going through a lot - politically and economically. And you know it. Nigeria has assumed a phase in nation-building - a historical moment when its citizens have become seemingly more aware of the age-long inner, selfish bidding that characterizes the attitude of corrupt public officeholders. This widespread social awareness has evoked a feeling of resentment toward what was before now the status quo. As the glamour for a change of government enters an unprecedented gear in Nigeria, the desire for a positive change in our economy remains sacrosanct.  A robust economy feeds its population, reduces unemployment, improves the standard of living, attracts investors, and drives industrialization.  As I always say, energy remains the fuel that drives industrialization and the economy. The economy grows as energy use grows. As of the year 2022, 759 million people lack access to consistent electricity in the world, and 2.6 billion people use dangerous and inefficient cook

Mohammed Barkindo the Nigeria born secretary general of the Organisation of the Petroleum Exporting Countries OPEC has died, according to a Twitter statement issued by the GMD of the NNPC Ltd Mallam Mele Kyari on Wednesday morning. He died yesterday Tuesday July 5, 2022 at around 11pm in Abuja few hours after delivering a keynote address the 2022 Nigeria Oil and Gas (NOG) Conference and Exhibition. He was the Honorary Chairman of the 21st edition of the conference whose theme for this year is Finding the Nigerian Energy Mix for Sustainable Economic Growth. Moreso, his death comes a few days to the expiration of his term as the 13th Secretary general of OPEC on August 1 2022, after six eventful years (stated from August 1 2016) as its elmsman.  Born in Yola Nigeria on April 20 1959, Barkindo aged 63, will be greatly missed by the international oil and gas community, OPEC, his home country and by his immediate family. While at OPEC as boss, Barkindo took many bold steps to st

In the extractive industry, mineral resource estimation is often classified and reported in a manner that may not be understood at a mere glance by the unfamiliar. For instance, in the oil and gas industry, hydrocarbon reserves are often categorised into Proven, Probable, and Possible depending on their degree of recoverability or extraction. Proven reserves  tell us that the mineral or hydrocarbon in commercial amount exists and can be extracted or recovered. It has a 90% degree of recoverability. Probable reserves tell us that a probable commercial amount of mineral or hydrocarbons exist but the chance of extracting it is 50%. Possible reserves suggest that an amount of mineral or hydrocarbons exist. While it has only a 10% degree of certainty, its recoverability as a commercial reserve is often disputed. Such reserves are usually evaluated for findings or information sake as their commerciality and cost of drilling are higher than the perceived economic returns. By exte

It's a literal reality and not a humorous anecdote that Africa has a lot of unfinished oil and gas pipeline construction projects scattered across the continent but what could be hindering developments in a key sector as that for a continent whose population yearns for energy for industrialisation and more? First conceptualised about two years ago, the East African Crude Oil Pipeline (EACOP) is an underground crude oil pipeline that's to run a total length of 1,443km from the Tilenga oil field in Western Uganda to the Indian Ocean port of Tanga in Tanzania ( erstwhile Tanganyika ). It's such a massive project with huge economic prospects. If completed, the pipeline could transport as much as 1 billion barrels of crude oil every day across the two East African countries. It is to become the world's longest electrically heated pipeline, in fact. Working to bring project into life are the Uganda National Oil Corporation UNOC and Tanzania Petroleum Development C

We're halfway through the year 2022. And many places located in the northern hemisphere of the Earth like Canada, Mexico, the U.S, Europe, etc are already in the Summer —that time of the year known for elevated ambient temperatures. Unlike here in Nigeria where the rains are seriously picking up in frequency and intensity. But what real impact has Summer on the energy consumption of the northern hemisphere countries? This is an exposé. Read on! It's generally agreed that climate is one key component which influences man's energy consumption. Temperature is the dominant of such climatic factors—the other is rainfall.  There's a positive causal relationship between temperature and energy consumption. In the Summer season in North America and Europe when ambient temperatures rise, cooling demand also rises, as well as the electricity needed to cool homes. This translates to an increase in residential energy consumption since one will need to keep his ceiling fa