Energetic giant navigating profits, politics and energy security
Multiple sources report a deadly incident at Okari Jetty, Okrika, linked to illegal tapping of petroleum pipelines. Deaths are confirmed, with many missing as investigations continue. Authorities warn against further theft and emphasise ongoing security operations in Rivers State.
Labor Day traditions are shifting as closures and sales vary by sector. Government offices close, while stocks and banks stay shut. Retailers offer promotional deals as summer ends, and travel costs rise for many Americans, who plan last-minute getaways.
The IEA reports tight diesel supply as demand remains fragile amid geopolitical shocks and shale and Gulf disruptions. The U.S. and Europe are considering stock releases to ease prices, while market volatility persists.
Oman has chosen a path of diplomacy in a turbulent region, with a state visit to Britain highlighting constructive neutrality and renewed investment talks. King Charles has praised Oman’s peacemaking role as the Sultan meets UK leaders to discuss security, trade and energy collaboration.
UK ministers have approved the Jackdaw gas field, a decision that will boost domestic gas supply and fund an energy wealth fund, while drawing criticism from climate campaigners who warn it does little to lower bills or meet climate goals. Production could start this winter, with up to 11 years of gas and billions added to the economy.
Scotland’s Acorn carbon capture project is embroiled in a funding dispute as UK ministers reframe support from a grant to loans/equity. The government has already drawn down a portion of the promised grant, and critics warn the plan remains fragile while SNP aims hinge on NETs for emissions cuts.
Turkey unveils a $500 billion energy plan ahead of COP31, aiming to electrify its economy by 2040 and cut coal reliance, while keeping security of supply. The plan foresees a quadrupling of wind/solar and a shift toward nuclear, with steep investment and questions about a timely coal exit.