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Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs. The cost of electricity from onshore wind fell by 15%, offshore wind by 13% and solar PV by 13% compared to 2020. Renewable Power …

India will “benefit” from the proposed price cap on oil, Treasury Secretary Janet Yellen has said, arguing that the United States does not want Russia to “profit unduly” from the war by enjoying prices that are essentially very high due to its Ukrainian invasion. Developing countries like India and China …

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 …

China is struggling to balance its pressing need to shore up energy security with its ambitions to position itself at the forefront of the global clean energy transition. As the world gears up for the 27th annual United Nations Climate Change Conference, more commonly known as COP27, the world’s major …

The National Agency for Petroleum, Gas and Biofuels (ANPG), Exxon Mobil Angola and the Angola Block 15 partners on Monday announced a new discovery at the Bavuca South-1 exploration well. The well encountered 30 m (98 ft) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 kilometers northwest off the …

Oil prices fell on Tuesday as recession concerns and worsening COVID-19 outbreaks in China sparked fears of lower fuel demand, outweighing supply worries. Brent crude fell 31 cents, or 0.3 per cent, to $97.61 a barrel by 0434 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or …

Around 12.1 trillion yen ($82 billion) has already been spent to deal with the 2011 disaster at the Fukushima No. 1 nuclear power plant, according to sources at the Board of Audit of Japan. That means more than half of the government’s total estimated cost of 21.5 trillion yen, including …

The UAE economy is on track to record its strongest annual GDP growth since 2011, one of the latest in a series of quarterly economic reports released by Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. Oxford Economics is …

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 …

Armenia gets the bulk of its natural gas from Russia. But ties with Moscow are fraying and Yerevan will soon have more alternatives Iran and Armenia have agreed to double the amount of natural gas that Iran sells to Armenia, and to extend their gas trade agreement to 2030. The …