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 …

Norway’s Minister of Petroleum and Energy, Tina Bru, has announced an investment of $13.73 million in a new windpower research centre. The NorthWind research centre will work on innovations to make wind power cheaper, more efficient, and more sustainable. One of the centre’s main priorities will be offshore wind research. …

Russian energy giant Rosneft on Tuesday said it had discovered a new gas field in the Kara Sea with total reserves of 514 billion cubic metres (bcm) of gas and 53 million tonnes of condensate.

OPEC announced, on Tuesday, that Iraq is the country that has reduced its oil production the most, while Libya was the most productive country in the organization in November 2020. The organization said in its monthly report, “total OPEC-13 crude oil production averaged 25.11 million barrels per day in November …

Excitement over the rollout of the coronavirus vaccine today had oil prices surging this morning, but the rally fizzled after OPEC put out its monthly oil market report. Citing further uncertainty in the transportation sector caused by surging cases of COVID-19, the group lowered its estimates for a recovery in …

Azerbaijan and Turkey are expected to ink a memorandum of understanding on Igdir-Nakhchivan gas pipeline, Trend reports citing Turkish media. Azerbaijan’s energy ministry confirmed the information, saying that the details of the document will be revealed after its signing. Reportedly, the document is expected to be signed on Dec.15 between …

ExxonMobil subsidiary ExxonMobil Exploration and Petronas Suriname Exploration & Production (PSEPBV) have discovered hydrocarbons offshore Suriname. The companies have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52. Drilled by operator Petronas, the latest discovery is being examined to determine the well’s resource potential. Block 52 covers an area …

Iranian Petroleum Minister Bijan Zangeneh said on Monday that Iran will not seek the permission of others to return to oil market because it believes it has right to do so. He said that it is possible for Iran to revive a 2.3 million bpd of oil exports. “As a …