DPR aims at generating revenue through gas utilisation
By TVC News Nigeria
21 April 2021 | 1:08 pm
The Department of Petroleum Resources says it will generate revenue through utilisation.
Hydraulic fracturing is banned across most of Europe, but, as the EU turns to the US for an alternative gas supply, how much fracked fuel will slip in through the side door?
The German government has activated its emergency plan for gas supplies, as fears rise that Russia could cut off the flow of gas to Europe. The early warning, announced by Economy Minister Robert Habeck, is the first of three stages in Berlin's emergency plan aimed at securing supplies. The move comes as Moscow insists it be paid in roubles for Russian gas. Also today, we report on how the sanctions on Russia are affecting the diamond trade in the Belgian city of Antwerp.
Russian gas continues to flow into Europe after President Vladimir Putin threatened to cut off supplies unless they are paid in roubles, a demand rejected by European leaders as a breach of contract. However, Putin's decree does include a mechanism under which foreign buyers would set up special accounts at Gazprombank, which would convert foreign currency payments into roubles on their behalf. Plus, workers at an Amazon warehouse in New York could be heading for a landmark victory for organised labour following a vote on whether to unionise.
This week, we start with some good news. Radiation levels are "quite normal" around Chernobyl. The head of the UN's nuclear watchdog confirms that Russian forces have pulled back from the site of Europe's worst-ever nuclear disaster. The IAEA is working with both sides to avoid Chernobyl again becoming a frontline in the war in Ukraine.
As pressure mounts for a ban on Russian gas and oil imports, the DIW think tank suggests that alternative suppliers and lower consumption could free Germany from its dependence on the Kremlin to cover its energy needs.
The EU turns to Nigeria as it looks for alternative suppliers of oil and gas. The bloc is trying to strengthen its ties to Africa's top petroleum producer as Europe tries to wean itself off Russian resources.
As Germany looks to ditch Russian oil and gas for good, its domestic energy industry is a key side actor — but can it step up to the plate? We search for clues in the village where Germany's oil sector was born.
Russian energy giant Gazprom said it would halt gas supplies to Poland and Bulgaria, raising concerns that Moscow could use energy supplies as blackmail over the conflict in Ukraine.
The suspensions are the first since Russia insisted foreign buyers pay for gas in rubles. Both Poland and Bulgaria have said Gazprom are in breach of contact.
The rest of Europe may not be at war, but is it ready for the sacrifices of a wartime economy? The Kremlin shutting the gas tap on Bulgaria and Poland may be but a prelude to a brutally swift transition away from Russian gas and oil. Deals will be dropped, money will be lost.
With Poland and Bulgaria cut off from Russian gas, major European energy firms are reportedly considering compliance with Moscow's demand to be paid in roubles. Over in the US, Archegos Capital's Bill Hwang pleads not guilty to fraud. Finally, amid a shortage of sunflower oil due to the Russian invasion of Ukraine, the French government has authorised food companies to change their recipes without altering their packaging.
Europe is at a crossroads. Amid the war in Ukraine, can the continent wean itself off Russian gas? An energy transition is underway, but the alternatives could lock countries into dirty fossil fuels for years to come. We take a closer look in this edition of Down to Earth.
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