Global electricity demand is on track to more than double by 2050. Maintaining energy security and keeping energy affordable without throwing climate goals out the window will require a whole lot more renewable energy capacity, but – just as importantly – it will also require a huge leap in energy …
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The price of Russia’s crude has tumbled over the past three months to its lowest level since Russia invaded Ukraine in early 2022, weighed down by intensified U.S. sanctions and falling international benchmarks. Russian crude shipped out of all major export terminals on the Black Sea, Baltic Sea, and Far …
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Amid major policy shifts, next year will see the first-ever decline in annual solar power capacity installations, following the weakest growth in seven years in 2025, according to BNEF’s Global PV Market Outlook. Developers are set to add globally a total of 649 gigawatts (GW) of solar power capacity in …
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Oil tanker rates are set to stay elevated in early 2026 as crude supply is rising while the number of available vessels is shrinking due to the U.S. sanctions on Russia, Venezuela, and Iran, officials and analysts in the shipping industry tell Reuters. The daily rates for chartering a vessel …
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Kazakhstan expects a court ruling on its $3.5-billion lawsuit against international majors by the end of this year, Energy Minister Yerlan Akkenzhenov said on Monday as the country is suing Big Oil in several separate proceedings with total compensation and damage claims of more than $160 billion. The first arbitration …
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The European Union is backtracking on its plan to prohibit the sale of new combustion-engine passenger cars after 2035, as the de facto ban came under fire from major carmakers and strong auto industry lobbies in Germany and Italy. The EU’s executive arm, the European Commission, is expected on Tuesday …
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Chinese refiners processed 39% more crude oil last month, with the total at 60.83 million tons, or 14.86 million barrels daily, official data cited by Reuters showed. The November daily average was a slight dip from October, when the average refinery throughput stood at 14.94 million barrels, but this was …
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Advancing ice has prevented an LNG carrier from loading a cargo at Novatek’s Arctic LNG 2 plant, Bloomberg reported today, citing ship-tracking data. The Buran, an Arc4 ice-class vessel that can move through icy waters, but up to a point, set off for the Arctic LNG 2 project on the …
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Coal- and gas-fired power generation in China is on course for an annual decline for the first time since 2015, unless demand surges this month. Over the first 11 months of the year, electricity generated from coal and gas plants ticked down by a modest 0.7%, Bloomberg reported today, citing …
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The global market for artificial intelligence (AI) chips is projected to skyrocket from $203.24 billion in 2025 to nearly $565 billion by 2032, driven by an insatiable demand for real-time analytics and generative AI capabilities. According to a new report by MarketsandMarkets™, the sector is forecast to expand at a …
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