Financing for clean energy in developing and emerging economies excluding China must increase seven-fold within a decade if global warming is to be capped at tolerable levels, the International Energy Agency said Wednesday. To keep Paris climate temperature goals in play, annual investment for non-fossil fuel energy in these countries …

The Norwegian government announced Tuesday it intends to allow seabed extraction for minerals on the country’s continental shelf saying Norway needs minerals “to succeed in the green transition”. Made a day after the United Nations adopted a historic pact to protect the high seas, the announcement drew condemnation from environmental …

Environmentalists and critics are having a field day after a second international energy major scaled back its renewable development ambitions in the space of just a few months. But Big Oil’s renewed focus on profitable projects in oil and gas and the new, selective approach to wind, solar, and other …

Japanese trading house Mitsui & Co has no plans to withdraw from the Sakhalin-2 liquefied natural gas (LNG) project in Russia, a senior executive said on Wednesday, adding the operation was continuing super-chilled fuel exports to Japan. “We have decided last year to keep our stake in the Sakhalin-2 after …

Equinor has selected the family-owned industrial group Wergeland as its preferred supplier for the fabrication of foundations and the assembly of turbines for floating offshore wind projects. The Norwegian energy giant said the agreement is aimed at ensuring industrial capacity to develop offshore wind in Norway, where activities are gathered …

Russia’s crude oil exports by sea fell slightly in the four weeks to June 18, but were still 250,000 barrels per day (bpd) higher compared to February, which serves as a baseline for the 500,000-bpd production cut Russia has promised this year. In the four weeks to June 18, Russia’s …

Chinese imports of Russian oil last month hit their highest level since Moscow’s February 2022 invasion of Ukraine, customs data showed Tuesday, as Beijing offers an economic lifeline to an increasingly isolated Kremlin. China is Russia’s largest economic partner, with trade between them reaching a record $190 billion last year. …

QatarEnergy will sign a 27-year deal to supply China’s National Petroleum Corp with 4 million tons of liquefied natural gas (LNG) per year, sources told Reuters on Tuesday. CNPC will also take a 5 per cent equity stake of one LNG train of QatarEnergy’s north field gas expansion, sources added.

China’s coal-fired generation has increased the most of any power source this year as hydroelectric production has fallen amid lower-than-normal rainfalls that have reduced water levels on the biggest rivers and depleted hydro reservoirs. Wind and solar generation have also jumped this year as China leads global renewable energy installation …

The European Union failed to agree on proposed reforms to its energy market after a last-minute proposal from rotating president Sweden about extending state support for coal power. The outcome of Monday’s meeting was expected as EU members have markedly different attitudes to coal and its importance in national energy …