Eight energy companies including BP, Shell and Total have agreed to apply a common set of “energy transition principles” across their businesses, including a commitment to industry decarbonisation. Six principles have been devised in collaboration with with investor lobby group Climate Action 100+. The eight companies comprise the three European …

Global demand for coal is set to jump 2.6% next year after a record pandemic-led drop this year, as recovering economic activity will lift use for electricity and industrial output, the International Energy Agency (IEA) said on Friday. Demand for thermal and metallurgical coal should rise to 7,432 million tonnes …

Global gas demand will not decline in coming 25-30 years, it will only rise due to a small carbon footprint, Russian Deputy Energy Minister Pavel Sorokin told a forum on Friday. “Due to the fact that gas has the smallest carbon footprint we do not expect a decline in gas …

The Russian government has approved the participation of the China Petroleum & Chemical Corporation (Sinopec) in a large petrochemical project. Thus, the Cabinet, led by Michail Mishustin, is acting in accordance with Moscow’s strategy of establishing closer economic relations with Beijing. As per a framework agreement signed by the parties …

Russia is successfully weaning itself off oil revenues, President Vladimir Putin said today during an annual end-of-the-year news conference, as quoted by RT. “This means that, while we’re not completely there, we are nonetheless starting to get off the so-called oil and gas needle,” Putin said, adding, “If someone still …

US President-elect Joe Biden is expected to pick Jennifer Granholm to be his energy secretary and Gina McCarthy as the head of newly-formed Office of Domestic Climate Policy, according to reports. Former Michigan Governor Granholm worked from 2003 until the end of 2010 to diversify the state’s economy, which is …

Saudi Arabia said on Tuesday the COVID-19 outbreak has made predicting the oil market “increasingly challenging,” warning that oil market fluctuation is a major challenge for the economy. The world’s biggest oil exporter has cut oil output this year as part of a deal with OPEC and other producers to …

Worldwide coal generation will fall 5% in 2020 to 2012 levels, marking the largest annual decrease on record, the International Energy Agency estimated in a new report. Coal use will likely bounce back in 2021, but growth in renewables will remain the lead story in electricity generation, the agency said …

Germany’s coalition parties. Chancellor Angela Merkel’s conservatives (CDU/CSU) and the Social Democrats (SPD), have agreed a compromise on the reform of the EEG 2021 green energy law, clearing the way for approval by parliament by Dec. 18, energy minister Peter Altmaier (CDU) and environment minister Svenja Schulze (SPD) said Dec. …

The Organisation of the Petroleum Exporting Countries (OPEC) has lowered its oil demand forecast for 2021 again, according to the latest version of the Monthly Oil Market Report released on Monday. OPEC now expects global oil demand to fall by 9.77 million barrels per day in 2020 to reach 89.99 …