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More than 110 countries want the COP28 climate negotiations to adopt a goal of tripling renewable energy and doubling energy efficiency by 2030, European Commission President Ursula von der Leyen said Friday. The European Union first appealed for the new target earlier this year, and the cause has since been …

Statement from Maria Korsnick, president and CEO of Nuclear Energy Institute, on the global pledge to triple the world’s production of nuclear power by 2050 announced today at COP28: “Demand for nuclear is surging around the world because it is clean, reliable, and affordable. As I meet with world climate …

The Cop28 climate summit has opened in Dubai, yet it is already clear that the world is not on track to meet the climate change targets that governments set themselves in Paris in 2015. In strictly numerical terms therefore, Cop28 will be a failure, like all the climate summits that …

Rising global crude stockpiles and weak demand could prompt Saudi Arabia to lower the price of Arab Light, its flagship crude, for Asian customers for January for the first time in seven months, a Reuters survey showed on Friday. Saudi Aramco, the world’s largest crude oil exporter, could lower the …

Oil prices began to retreat on Thursday afternoon as it became clear that OPEC+ members were agreeing to voluntary cuts beginning in the new year, and that those cuts would be announced only by each member country instead of by the group as a whole. OPEC+ announced during the full …

OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional cut and smaller curbs by others, two delegates told Reuters ahead of a virtual OPEC+ meeting on Thursday. Saudi …

As the world welcomes innovative technologies, they could spur a sharp spike in energy consumption if not regulated appropriately. A wide range of industries, including the energy sector, is looking to artificial intelligence (AI) to modernize operations. However, many are not considering the potential energy costs of adopting AI and …

Oil prices – both WTI and Brent- are trading higher on Thursday, ahead of today’s meeting of the Organization of the Petroleum Exporting Countries (OPEC). “Although yesterday there was talk that Saudi Arabia was pressuring its partners to implement a new cut of 1 million barrels per day in the …

China’s largest offshore crude oil producer, Bohai Oilfield, has seen its daily oil and gas output reach more than 100,000 tonnes of oil equivalent, a record high over the past five decades, said China National Offshore Oil Corporation’s Tianjin branch on Thursday. Since the construction of the base in 1965, …

Brent crude oil continued to rise on Wednesday, gaining 1.6% as the market focuses squarely on the OPEC+ meeting scheduled for Thursday, with analysts increasingly anticipating additional output restrictions on some level from the cartel. On Wednesday at 2:39 p.m. ET, Brent crude was trading at $82.99, up 1.60% for …