$6 billion: Pouyanne tells Nigeria President about major's investment plans - Upstream Online
$6 billion: Pouyanne tells Nigeria President about major's investment plans | Upstream Online
TotalEnergies chief executive Patrick Pouyanne met Nigeria's President Bola Tinubu in Abuja today, and underlined the supermajor's commitment to a country in which it may invest $6 billion over the coming years.
The meeting took place just ahead of the president inaugurating a new board at state oil company NNPC and issuing a warning that their tenure will be short lived if they do not perform as he expects.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”