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IEA Lowers Global Oil Demand Forecasts on Weak OECD Consumption

The International Energy Agency has revised down its prediction for oil demand growth this year, due to lower-than-expected consumption and a decline in industrial activity in Organisation for Economic Co-operation and Development member countries. Demand for 2024 was adjusted lower to 1.2 million barrels per day, about 100,000 bpd lower …

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Repsol Unveils 637-MW Solar Farm in Texas

Spanish multi-energy group Repsol SA has wrapped up construction of the 637-MW Frye Solar plant in the US state of Texas, it said on Thursday, hailing it as the largest solar photovoltaic project it has built to date. Frye Solar is equipped with close to one million solar panels installed …

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The AI Revolution has a Problem: Energy

Artificial intelligence is helping the oil and gas industry boost output by accelerating drilling and boosting efficiency. It offers similar gains to other industries as well and online platforms and websites with AI-powered chatbots are multiplying fast. But there is a problem. AI consumes massive amounts of electricity. A New …

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Shell Considers Leaving London Stock Exchange

Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing. Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets. …

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New Zealand Considers ICE Car Import Ban by 2040

The New Zealand government has plans to ban the import of internal combustion engine vehicles by 2040 as part of its net-zero efforts. According to local publication Stuff, a draft document prepared by the country’s Climate Change Commission suggests that “Decarbonising transport will require a rapid increase in electric vehicle …

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