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ADAMS NATURAL RESOURCES FUND, INC.

(PEO)
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Delayed Nyse  -  04:00 2022-12-01 pm EST
22.74 USD   +0.26%
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Former Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu Republic of Nigeria, Attending Africa Oil Week 2022

09/08/2022 | 05:47am EST

Former Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu of the Republic of Nigeria will be attending Africa Oil Week (www.Africa-OilWeek.com) 2022. The accomplished scholar, thought leader, and Exxon Mobil's Nigerian general counsel is attending the leading Oil and Gas event, being held in Cape Town - the heart of South Africa. Organised by Hyve Group Plc., Africa Oil Week (3-7 October) is the Home of the African Upstream and it promises to bring together leading energy stakeholders to celebrate the theme: Sustainable Growth in a Low Carbon World.

"It is a pleasure to welcome Dr Emmanuel Ibe Kachikwu to Africa Oil Week 2022. With his dedication to Africa's oil industry as Exxon Mobil's Nigerian general counsel - one of the global oil and gas leaders - where he has been responsible for its Upstream and Downstream businesses in the jurisdiction, his insights will be greatly welcomed at the event," said Paul Sinclair, VP of Energy and Director of Government Relations for Africa Oil Week.

The annual event is designed to advocate the sustainable development of the African upstream with Africa Week 2022 focusing increasingly on the need of its nations to drive economic growth, improve service delivery and move millions of citizens out of poverty. The African energy sector still faces huge challenges, as a recent McKinsey report notes that "energy demand on the continent threatens to outstrip supply." Over the next 20 years, rapid population growth is predicted and industrialisation is expected to drive strong energy demand growth across the continent-including for fossil fuels. The McKinsey modelling estimates that African energy demand over the next two decades could be around 30 per cent higher than it is today, compared with a 10 per cent increase in global energy demand. It is vitally important that Africa use all its resources to ensure these energy needs are met at all levels, from local to national.

The challenge for Africa - the continent with the lowest energy consumption and surging demand for energy - is striking the balance between leaning on fossil fuels and natural gas in the short-term and utilising a blend of renewables and fossil fuels for the long-term.

"We want to highlight how vital it is for Africa to meet the ever-growing energy demands in the short, medium, and long-term. We want to champion the continent's leadership in the sector and promote Africa's right to universal access to energy to ensure energy security for the continent," says Paul Sinclair.

He adds, "Dr Emmanuel Ibe Kachikwu's knowledge will provide great insight into upstream and downstream business and will shine a light on the innovative strategies and formulation of policies that can help sanitise the petroleum sector and return it to a profit generator that would positively impact the economy."

Register your interest now to play your role in sustainably developing our industry and Africa via the African upstream. Attend the conference alongside senior delegates and 50+ Ministers and leaders of government: Africa Oil Week 2022 (www.Africa-OilWeek.com).

Distributed by APO Group on behalf of Africa Oil Week.

Media Contact:

Amie Sparrow

PR Manager `

amie.sparrow@hyve.group

About Africa Oil Week:

Africa Oil Week (www.Africa-OilWeek.com) is the meeting place of choice for the continent's upstream oil and gas sector. Now entering its 28th year, the event brings together governments, national and international oil companies, independents, investors, the G&G community and service providers. Africa Oil Week takes place in heart of Cape Town at the Cape Town International Convention Centre 2 (CTICC2) from the 3-7 October 2022.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
ADAMS NATURAL RESOURCES FUND, INC. 0.26% 22.74 Delayed Quote.37.65%
EXXON MOBIL CORPORATION -0.49% 110.8 Delayed Quote.81.96%
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Financials (USD)
Sales 2021 16,8 M - -
Net income 2021 154 M - -
Net cash 2021 0,15 M - -
P/E ratio 2021 2,62x
Yield 2021 5,51%
Capitalization 555 M 555 M -
EV / Sales 2020 15,1x
EV / Sales 2021 23,6x
Nbr of Employees -
Free-Float 99,5%
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Managers and Directors
Mark Edward Stoeckle Chief Executive Officer
James Philip Haynie President
Brian S. Hook Assistant Treasurer
Kenneth James Dale Non-Executive Chairman
Michael A. Kijesky Vice President-Research