Japan joined a U.S.-led declaration to triple the world’s nuclear energy capacity by 2050 from 2020 levels to realize net-zero greenhouse gas emissions. Twenty-two countries, including Britain, France and South Korea, supported the Declaration to Triple Nuclear Energy announced Dec. 2 to coincide the COP28 U.N. climate conference being held …

The US Energy Information Administration (EIA) announced on Sunday that Iraq’s oil exports to the United States exceeded five million barrels during last November. According to a table provided by EIA, “Iraq exported 5.13 million barrels of crude oil to the US in November, averaging 171,000 bpd. This is lower …

Basra crude oil reported weekly losses following a prolonged decline in global oil prices, marking the sixth consecutive week of downturn. During its last trading session on Friday, Basra Heavy crude concluded with a $2.84 drop, settling at $77.52, resulting in weekly losses of $1.08, representing a 1.37% decrease. Basra …

France’s president encouraged G7 countries on Friday to stop using coal by 2030. Emmanuel Macron enumerated several key points to improve the fight against climate change during an address to the United Nations Climate Change Conference COP28 in Dubai. The “primary priority” for the most developed countries is to end …

Oil prices slumped more than 2% on Friday following a volatile trading week, as the market kept a wary eye on the latest round of OPEC+ production cuts and sluggish global manufacturing activity. Brent crude futures for February settled $1.98 lower, or 2.45%, to $78.88 a barrel on their first …

More than 110 countries want the COP28 climate negotiations to adopt a goal of tripling renewable energy and doubling energy efficiency by 2030, European Commission President Ursula von der Leyen said Friday. The European Union first appealed for the new target earlier this year, and the cause has since been …

Statement from Maria Korsnick, president and CEO of Nuclear Energy Institute, on the global pledge to triple the world’s production of nuclear power by 2050 announced today at COP28: “Demand for nuclear is surging around the world because it is clean, reliable, and affordable. As I meet with world climate …

The Cop28 climate summit has opened in Dubai, yet it is already clear that the world is not on track to meet the climate change targets that governments set themselves in Paris in 2015. In strictly numerical terms therefore, Cop28 will be a failure, like all the climate summits that …

OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional cut and smaller curbs by others, two delegates told Reuters ahead of a virtual OPEC+ meeting on Thursday. Saudi …

As the world welcomes innovative technologies, they could spur a sharp spike in energy consumption if not regulated appropriately. A wide range of industries, including the energy sector, is looking to artificial intelligence (AI) to modernize operations. However, many are not considering the potential energy costs of adopting AI and …