Energy
GE to spend another $10 billion on energy research by 2020
LONDON – General Electric Co plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by earmarking an additional $10 billion through 2020 for its “ecoimagination” budget.
The new spending is set to be announced by Chief Executive Jeff Immelt on Monday.
The research budget shows how reliant GE has become on the energy industry, its fastest growth area, as it works to become a dominant supplier of equipment and services to oil, natural gas and alternative power companies at a time when the United States undergoes an unprecedented energy boom.
While GE doesn’t forecast what it plans to spend on its main capital budget in future years, the new commitment gives investors a clue as to what the company’s priorities will be into the next decade.
The “ecoimagination” project, which was formed in 2005 to broadly focus on sustainability and other environmental issues and has cost nearly $15 billion, had been set to expire next year. Executives are extending it to 2020 with the additional $10 billion.
While the overall goals of the project will remain, a larger percentage of the funds will go to energy-related projects, an acknowledgment of where Immelt and other executives see the future of the company Thomas Edison founded in 1892.
“We have a very broad, long-standing commitment to energy,” said Mark Little, GE’s chief technology officer and head of global research.
NEXT GENERATION FRACKING?
As part of the new focus, GE will study with Norway’s Statoil how to use carbon dioxide (CO2) in hydraulic fracturing, the process commonly known as fracking which mixes more than 2 million gallons of water per well with chemicals and sand to extract oil and natural gas.
The energy industry’s copious use of water has put it into conflict with some residents in Texas, New Mexico and other arid states, and many companies have been trying to find ways to curb fracking’s use of water, looking at using CO2 and even propane.
While CO2 fracking is not economical today, the companies hope to find a way to collect CO2 at the wellhead, recycle it, use it to frack again, then collect the CO2 and repeat the process, Little said.
“Ideally, we’d have a virtuous cycle going on,” he said.
A key challenge will be to help the CO2 carry proppant, a type of sand that holds open the cracks in rock so oil and natural gas can escape, much like water does in current methods.
GE also wants to boost the efficiency of its natural gas-powered turbines to 65 percent from today’s 62 percent. The company believes its existing research into jet engine efficiency could help significantly reach this goal, Little said.
COMPRESSED NATURAL GAS IN A BOX
The company plans to study how to make wind turbine blades cheaper and more efficient through the use of different composite materials, as well as expand its “CNG In A Box” product, which lets natural gas producers compress the fuel directly at the well to be used locally in engines.
The “ecoimagination” project is part of GE’s larger research and development budget, worth roughly $5 billion to $6 billion per year.
The project began in 2005 with a goal to spend $5 billion on efficiency projects within five years and was renewed in 2010 with a goal of spending an additional $10 billion by 2015. So far, it has brought in $160 billion in revenue by creating new products and saved $300 million on water and emissions costs, GE said.
A movement into energy is not new for GE, which last year bought Lufkin, aiming to sell the company’s oilfield pumps in international shale fields and collect data to help oil producers become more efficient.
GE has also become of the world’s largest wind turbine manufacturers since it bought Enron’s wind business in bankruptcy.
– REUTERS
The Shell Nigeria Exploration and Production Company Limited (SNEPCo) has completed the turnaround maintenance on the Bonga Floating Production, Storage and Offloading (FPSO) vessel, leading to resumption of production at Nigeria’s premier deepwater field on March 6, 2026.
Biztellers reports that the project was delivered 11 days ahead of schedule and without any safety incident, reinforcing SNEPCo’s longstanding commitment to operational excellence and asset integrity.
“Completing the turnaround safely and ahead of schedule is a testament to the dedication and professionalism of our Nigerian workforce and the helpful support of our partners,” SNEPCo Managing Director Ronald Adams said. “The achievement not only secures the long‑term integrity of the Bonga FPSO but also positions us strongly for the successful delivery of the Bonga North project, which will leverage the improved reliability of the FPSO.”
The exercise which began on February 1, 2026, highlights SNEPCo’s leading role in advancing deep‑water expertise in Nigeria. Of the 55 companies involved in the execution, 43 were wholly Nigerian. Additionally, eight of the 12 international service providers maintain operational bases in Nigeria, contributing to knowledge transfer and increased local investments.
More than 1,000 personnel worked offshore during the turnaround, with over 95% being Nigerians involved in maintenance, engineering, operations, inspection and construction. Thousands more supported activities from onshore locations, reflecting the depth of Nigerian capability in offshore oil and gas operations.
Adams added: “We acknowledge the support of several stakeholders towards the successful execution of the exercise, including the NNPC Upstream Investment Management Services (NUIMS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Content Development and Monitoring Board (NCDMB) and our partners.”
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Ghanaian President Mahama and Sahara Executive Directors
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.
Nigeria’s crude oil production dropped to 1.31 million barrels per day in February, even as local refineries continue to grapple with inadequate domestic crude supply needed to sustain operations.
The development shows that Nigeria again failed to meet its crude oil production quota of 1.5 million barrels per day approved by the Organisation of the Petroleum Exporting Countries (OPEC), as output declined sharply in February 2026.
Data from OPEC’s latest Monthly Oil Market Report, based on direct communication from member countries, showed that Nigeria produced 1.314 million barrels per day in February, down from 1.459 mbpd recorded in January.
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The figures indicate a month-on-month decline of 146,000 barrels per day, widening the country’s shortfall from its OPEC production allocation.
Nigeria’s inability to meet its OPEC production quota is not only affecting its oil export earnings but also adversely impacting domestic refineries that are starved of feedstock for their operations.
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