Oil field
• IEA calls for end to fossil fuel investments with the launch of decarbonisation roadmap
• Osinbajo canvasses equitable global energy transition for developing countries
• Stakeholders raise fresh concerns over continuous dependence on hydrocarbon
• Removal of subsidy, refinery rehabilitation, gas economy sacrosanct, minister insists
Mounting global advocacy aimed at halting all-new Final Investment Decisions (FIDs) for fossil fuels, especially oil and gas may create serious hurdles for new fields development as over $150 billion worth of projects risk getting stranded in Nigeria.
Investments in new fossil fuel projects will need to stop immediately if the world is to limit global warming to 1.5 °C, the International Energy Agency (IEA) has said in what commentators have described as a stunning challenge by the historically pro-fossil fuel body.
The world’s leading energy body in a report released yesterday, for the first time, unveiled its roadmap for reaching…
Source: Guardian Newspaper
