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Greek ships remain the dominant force shipping Russian crude, increasing their market share significantly since the December 5 ban on Russian oil exports started, according to new data from freight data firm Vortexa. Greek and other foreign owners are allowed to transport crude and products out of Russia under an …

A burgeoning row between France and Germany fired by differences over nuclear energy and combustion engines threatens to spill over into a gathering of the 27 European Union leaders on Thursday (23 March). A row erupted between two of the European Union’s biggest economies after Berlin upset some of its …

Oil prices fell on Thursday amid concerns surrounding the US banking sector and worry over lower oil demand. International benchmark Brent crude traded at $76.27 per barrel at 10.14 a.m. local time (0714GMT), a 0.55% decrease from the closing price of $76.69 a barrel in the previous trading session. At …

Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a new report on Wednesday. ETSs generally set the total amount of greenhouse gases that can …

On February 13, the groundbreaking ceremony was held in Baku for the largest thermal power station (TSP) yet to be built in Azerbaijan with a planned capacity of 1,280 megawatts (MW) (Apa.az, February 13). The project’s total value is estimated at around $400 million, which is two to three times …

Oil prices slid on Wednesday over bearish demand indicators driven by expected rise in US crude oil stockpiles, coupled with lingering effects of US bank collapses and upcoming US Fed decision on interest rate. International benchmark Brent crude traded at $74.91 per barrel at 10.09 a.m. local time (0709GMT), a …

Global renewable generation capacity increased by 9.6%, or 295 gigawatts (GW) last year, amounting to a total of 3,372 GW, the International Renewable Energy Agency (IRENA) revealed in a recent report. Renewables delivered 83% of all electricity capacity installed last year, according to IRENA’s Renewable Capacity Statistics 2023. The report …

China’s installed renewable energy capacity significantly increased in the first two months of 2023, according to data from the country’s National Energy Administration showed on Tuesday. By the end of February, the installed capacity of wind power of China rose 11% year-on-year to nearly 370 million kilowatts. Meanwhile, the installed …

Africa’s total announced electrolyzer pipeline capacity has reached 114 gigawatts (GW), with 61% of this tied to countries in Sub-Saharan Africa, according to Rystad Energy analysis. This African region has an announced electrolyzer pipeline of about 70GW, with Mauritania covering 50% of the total, followed by South Africa and Namibia. …

Signs have emerged of a slight improvement in the global economy, thanks to falling energy and food prices in early 2023, the OECD said on Friday as it raised its global economic growth projections for this year and next. The OECD now expects global economic growth at 2.6% this year, …