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- Africa Oil & Gas: Global Petroleum increases Namibian footprint
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- Mozambique Energy: Cahora Bassa hydroelectric plant to invest €500 million in 10 years
Adding another voice to the peak oil debate, Bank of America Merrill Lynch predicts that the world will hit peak oil demand by 2030. At that point, EVs will account for 40 percent of auto sales.
“Electric vehicles will likely start to erode this last major bastion of oil demand growth in the early 2020s and cause global oil demand to peak by 2030,” the analysts wrote in an emailed report.