The plastic pollution talks are pushed into overtime by countries pushing for a late breakthrough
The talks to create the first legally-binding treaty in the world to combat plastic pollution ran overtime on Thursday. They were adjourned for the next day. The extent of future restrictions on what was supposed to be the…
Copenhagen Infrastructure Partners closes third offshore wind project with Taiwan
Copenhagen Infrastructure Partners, a clean energy fund manager, announced on Wednesday that it had reached financial closure on its 495 Megawatt (MW), Fengmiao I Wind Project, located off the coast Taichung in Taiwan. CIP announced that Fengmiao 1…
BHP and Rio Tinto discuss energy transition; bet on minimal Trump impact: Russell
BHP Group, Rio Tinto and other mining giants have delivered similar results and outlooks this week for commodities. They chose to focus on the benefits of the energy transformation and minimise short-term risk. BHP, world's largest mining company…
Israel urges the public to install solar panels on their roofs in order to generate electricity
Solar panels are being installed on roofs in Israel to harness the sun's power and help Israel meet its growing demand for electricity. Around 15% of Israel's electric production comes from renewable sources, while about 70% of it is natural gas.
Short-take: IEA predicts tight gas supply and record demand in 2025
The International Energy Agency (IEA), on Thursday, said that the world's gas demand would reach a record high in 2025, driven by Asia. However, delays in new liquefied gas (LNG), production, will limit supply. Why it's Important…
IEA reduces its 2025 oil consumption forecast as China offsets gains globally
The International Energy Agency (IEA), citing the impact of a weaker Chinese economy on consumption, kept its forecast for global oil demand growth in 2024 unchanged but lowered its estimate for 2025. This is the second report…
Kemp: Oil traders focus on economy, not dwindling stock.
The oil prices have fallen in recent weeks, as traders focus their attention on a potential slowdown of the major economies. At the end of the month of June, the Organization for Economic Cooperation and Development's (OECD) advanced economies had 2…
Kemp: Oil traders focus on the economy, not dwindling stock
The oil prices fell in recent weeks, as traders looked past the depletion of global inventories and focused on a future threat that could be posed by the possible slowdown of major economies.At the end of the month of June…
IEA Says World Oil Demand to Rise 2% in '23
World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed…
Hydrogen at Risk of Being Missed Opportunity, According to DNV Report
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV.In Hydrogen Forecast to 2050…
Xodus: A Rapid Pivot to Gas Needed
Xodus Group launched a new analysis showing that a rapid pivot to gas will be required to deal with rising global energy demand.In contrast to some recent future energy scenarios, Xodus believes worldwide energy consumption will continue to increase…
Offshore: OSV Market Report
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers.
Oil Traders Bet on Economic Upswing in 2020
Crude oil traders are betting the market will tighten significantly next year, even as the major statistical agencies predict production will outstrip consumption and oil inventories will rise.Most of the divergence can be…
Var Energi Buys Exxon's Norway Assets for $4.5 Bln
ExxonMobil said on Thursday it will sell its Norwegian upstream oil and gas assets to independent exploration and production company Vår Energi for $4.5 billion as part of an ongoing large-scale global divestment plan.The deal…
Oil Prices Extend Losses After Saudi Pledge
Oil prices retreated about 2% on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities and as U.S. crude stockpiles…
Oil Price Spike after Saudi Attack Temporary
The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7%…
Concordia Expects Stong Tanker Market
During the first half of 2019, the tanker markets produced voyage result per day levels that exceeded the corresponding period in the slump year 2018 by 50-100 percent, said Concordia Maritime.The Swedish international tanker…
Lower oil prices start to rebalance the market
Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019.U.S. crude production rose 241…
IEA Says Oil Markets Adequately Supplied
The International Energy Agency is monitoring developments in global oil markets, and notes that markets are now adequately supplied, and that global spare production capacity remains at comfortable levels.Further tightening…
US Crude Inventory Levels Off
U.S. crude inventory has leveled off after declining three weeks in a row. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates U.S. crude inventory as of December 21 was the same as seven…