The past couple of UN Climate Change Conferences have featured a growing number of fossil fuel lobbyists who almost inevitably end up clashing with climate activists and environmentalists over the role and fate of the fossil fuel industry in the global energy transition. For instance, more than 600 delegates affiliated …
Read More »OPEC Boosts Oil Demand Forecast to 2045 despite Climate Crisis
OPEC has raised forecasts for global oil demand through to the middle of the century, even as the world shifts away from fossil fuels to avert catastrophic climate change. Oil consumption will climb 16% over the next two decades to reach 116m barrels a day in 2045, about 6m a …
Read More »OPEC+ Stands Firm as Global Oil Demand Teeters
Last week, OPEC+ decided to keep current oil production cuts in effect until the end of the year. The announcement was anything but surprising, and yet crude oil prices fell substantially, sparking suggestions that the OPEC+ cuts may already be activating what many call the cure for high oil prices, …
Read More »Saudi Plans to Study Small Nuclear Reactor Tech
Saudi Arabia said it’s interested in studying technology for small modular nuclear reactors, as the Middle East’s largest oil producer looks to diversify its energy sources and generate cleaner power for domestic use and export. The kingdom is “a late-comer” to nuclear power and aims to study all types and …
Read More »Middle East Tension Boosts Oil Prices
Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, …
Read More »Iraq and 5 Countries Renew Commitment to Supporting Oil Stability
In a joint statement released on Monday, Iraq, Saudi Arabia, the UAE, Kuwait, Oman, and Bahrain reaffirmed their commitment to “voluntary collective and individual production adjustments” for oil, according to the Reuters style news report. The statement followed a meeting of the oil ministers of the six countries on the …
Read More »UAE Launches 103MW of Wind Power Projects
UAE-based energy company Masdar has launched four wind farms with a total capacity of 103.5MW, as part of the UAE wind programme. The project sites are Sir Bani Yas Island in Abu Dhabi with 45MW of wind capacity and a 14MW solar farm, two 27MW wind farms on Delma Island …
Read More »Regulatory Hurdles Threaten Global Green Energy Ambitions
An effective green energy transition doesn’t just depend on the deployment of solar panels, wind turbines, and electric vehicle fleets – it also hinges upon a rapid buildout of all of the infrastructure that those components rely on, from long-term energy storage solutions to power lines. And grid regulators are …
Read More »Making Hydrogen-Powered Flights a Reality by 2035
Hydrogen-powered flight offers a potential route for zero carbon emissions flight. Airport infrastructure will be critical to its success, but airports will need to form new partnerships with companies outside of the sector to deliver it. A global centre of skills and innovation Hydrogen South West is a unique consortium …
Read More »Oil Prices Rise, but Post Biggest Weekly Decline since March
Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia’s fuel export ban compounded demand fears due to macroeconomic headwinds. On Friday, Brent futures settled up 51 cents at $84.58 per barrel. US West Texas Intermediate crude futures settled up …
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