Energy Policy

The Group of Seven (G-7) rich nations put support for gas investments back into their communique on Saturday, calling it a “temporary” step as they try to decouple from Russian energy, in a move climate activists say may hurt climate goals. The April meeting of G-7 climate ministers eventually agreed, …

Several countries, including the Netherlands, Chile, and New Zealand, are calling on the G7 to lead by example and take the lead in phasing out fossil fuels, according to a letter sent to the group of the world’s most industrialized nations, which Reuters has seen. “We must bring the fossil …

OPEC invited Ecuador to rejoin the oil producers’ group just over three years after its departure, according to a letter received by the country’s Energy Ministry. Secretary-General Haitham Al-Ghais wrote that readmission of the Latin American nation is a “top priority” for OPEC and offered to visit to “explain the …

Signs are emerging that the still continuing IPO boom in the Gulf could be reaching its zenith. Lower oil and gas revenues as a result of falling Brent crude prices, headwinds for the global economy, high inflation in the U.S. and Eurozone, and ongoing central bank interest rates hikes are …

The United Arab Emirates (UAE) said on Tuesday (May 9) that countries should agree to phase out fuel emissions – not the production of oil, gas and coal – at the upcoming United Nations climate change negotiations that it will host this December. The comments reflect deep divisions between nations …

OPEC Secretary General Haitham Al Ghais said on Thursday that International Energy Agency (IEA) should be ‘very careful’ about discouraging oil investments, which is important for global economic growth. Al Ghais’s statements came in response to fresh criticism from IEA Executive Director Fatih Birol to OPEC+, indicating that finger-pointing and …

The Organisation of the Petroleum Exporting Countries (OPEC) has called on the International Energy Agency (IEA) not to further undermine the oil industry investments. OPEC Secretary-General, Haitham Al Ghais said this in a statement obtained while responding to the latest comments by the IEA again criticising OPEC and OPEC+. Al …

The European Union has stepped up security measures and protection of its critical energy infrastructure following the sabotage on the Nord Stream natural gas pipelines last autumn, European Commission President Ursula von der Leyen said at the North Sea Summit late on Monday. “We know that our critical infrastructures are …

The International Energy Agency (IEA) has said that the global oil market could see tightness in the second half of 2023, which would push oil prices higher. Executive Director of IEA, Fatih Birol, made the prediction as oil prices surged above $80 since the beginning of the month, after the …

Energy and environment ministers of the Group of Seven wealthy nations have vowed to work to hasten the shift towards cleaner, renewable energy. But they set no timetable for phasing out coal-fired power plants as they wrapped up two days of talks in the northern Japanese city of Sapporo. The …