Energy transition

China Leads World In Energy Transition, Wood Mackenzie Says

China Leads World In Energy Transition, Wood Mackenzie Says

China is leading the global energy transition, aiming to source half of its power from low-carbon sources by 2028, including solar, wind, nuclear, and energy storage, according to Wood Mackenzie. The country is also outpacing global competition in the electric vehicle (EV) sector, with BEVs projected to account for two-thirds of China’s car sales by 2034. This shift is transforming both the domestic and global markets, with Chinese EV brands like BYD gaining significant ground. China’s dominance extends to its clean energy sector, where low-carbon sources will provide half of the country's electricity by 2029, and solar and wind power…
Read More
Energy Transition Affecting Operations Of National Oil Companies – PIAC

Energy Transition Affecting Operations Of National Oil Companies – PIAC

The Public Interest and Accountability Committee (PIAC) has stated that the global shift towards sustainable energy sources is putting National Oil Companies (NOCs) under significant pressure. According to PIAC, factors such as climate change awareness, energy security needs, and advancements in renewable technologies, are challenging the traditional oil and gas industry. PIAC in its latest Issue Paper titled ‘The Role of The Ghana National Petroleum Corporation (GNPC) in the Upstream Petroleum Industry: Challenges and Prospects,’ stated that the transition can reduce the demand and value of their core products, expose them to environmental, social, and governance (ESG) risks and liabilities,…
Read More