Look

China’s president Xi Jinping mentioned on his trip to Riyadh last week that the Shanghai Petroleum and Natural Gas Exchange would be “fully utilized in RMB settlement in oil and gas trade.” Most commodities including crude oil are traded in US dollars. The renminbi trade was part of several “priority …

On December 2, EU member states unanimously agreed to introduce a price cap at $60 per barrel on Russian seaborne oil, as well as an EU-imposed embargo on Russian crude oil shipped by sea. Both initiatives would go into effect on December 5. The EU’s price cap is also joined …

Raw material costs and looming shortages: these have been the dangers on the path of the world’s energy system transition from fossil fuels to low-carbon alternatives. Until inflation and recession reared their twin heads. Since the start of the year, economies in Europe and North America, previously stalwarts of economic …

Worldwide sales of heat pumps are set to soar to record levels in the coming years as the global energy crisis accelerates their adoption, the International Energy Agency says in a new special report released today. The heating of most buildings around the world – such as homes, offices, schools …

The world is facing an energy trilemma. Leaders in the public and private sectors are faced with the challenging puzzle of how to ensure a secure and reliable supply of energy while also keeping energy prices affordable and minimizing negative environmental externalities. This isn’t easy anywhere on Earth, but nowhere …

Analysts agree that the severe economic impacts of the energy crisis are being felt in almost all economic sectors in Europe, and the problems are bound to remain until the conflict between Russia and Ukraine is resolved. The crisis in Ukraine has sent energy prices surging, which in turn pushed …

A study says that emissions from proposed and approved gas projects endanger the Paris Agreement goals as western countries seek to stave off the energy crisis. Hasty policy changes by major global economies to procure gas amid the global energy crisis pose a threat to the Paris Agreement, according to …

The International Atomic Energy Agency (IAEA) and the Food and Agriculture Organization of the United Nations (FAO) launched seeds into space today as they intensify their joint efforts to develop new crops able to adapt to the ravages of climate change on Earth, the FAO press service reported. The seeds …

Southeast Asian countries can meet their growing energy demand with renewables and cut 75% of their energy-related CO2 emissions by 2050, half of the emissions compared to today. Released by the International Renewable Energy Agency (IRENA) during the ASEAN Energy Ministerial, the 2nd edition of the Renewable Energy Outlook for …

European leaders have boasted about cutting their reliance on Russian gas since Vladimir Putin invaded Ukraine. But that’s only part of the truth. While supplies of natural gas delivered by pipeline fell dramatically this year, liquefied natural gas (LNG) imports from Russia into the EU increased by 46 percent year-on-year …