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BEIJING, Feb 19 (Reuters) – China invested 6.8 trillion yuan ($940 billion) in clean energy in 2024, approaching the $1.12 trillion in global investment in fossil fuels, according to a new analysis for U.K.-based research organisation Carbon Brief. That was despite growth in China’s clean energy investments slowing to 7% from 40% in 2023 amid …
BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit. The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The …
Brazil to Join OPEC+, Group of Major Oil-Exporting Nations Read More »
Oil producer group OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Donald Trump to lower prices, Bloomberg News reported on Monday citing delegates.Global oil markets remain too fragile to revive production now, the report cited one delegate as saying, adding that another …
OPEC+ Considers Delay to April Oil Supply Increases Read More »
The scrum to replace Russian supply is sparking bumper premiums for Middle Eastern crude. Bloomberg News Right now in the crude market there are two contrasting stories. For the grades that underpin Brent and West Texas Intermediate futures, things aren’t looking great. Refineries in Europe and the US are entering an annual period of maintenance that acts …
Shortage of Heavy Oil Is Proving to Be a Boon for OPEC Read More »
(Reuters) – Exports of Russia’s liquefied natural gas (LNG) will likely not exceed 67 million metric tons by 2030, falling far short of its 100 million target due to international sanctions, experts said at an industry conference on Friday. Russia has focused on development of LNG, which could be delivered by sea tankers, as its …
Russia Seen Struggling to Reach its LNG Targets, Experts Say Read More »
Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim …
Latest US Sanctions on Russia Throw Global Oil Trade Into Disarray Read More »
Russia will be “reintegrated” into the world economy and the European energy system once a peace deal is achieved and the war ends in Ukraine, Prime Minister Viktor Orban told state radio on Friday. “If the U.S. president comes and creates peace, there is a deal, I think Russia will be reintegrated into the world …
Russia to be ‘Reintegrated’ Into World Economy if War in Ukraine Ends, Orban Says Read More »
(Reuters) – Ukraine called on its allies on Wednesday to help it import more natural gas as it moved to increase gas imports by a third to 22.6 million cubic meters following a series of Russian missile attacks on Ukrainian gas facilities. The call came after natural gas production sites owned by Ukraine’s state-run energy …
Ukraine Calls For Help on Gas Imports After Russian Missile Strikes Read More »
(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise …
OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts Read More »
(Reuters) – Mexico plans to boost its crude oil reserves to ensure it has enough for at least a decade of consumption, the chief executive officer of state energy company Pemex, Victor Rodriguez, said on Wednesday. Pemex has 12 strategic projects that will account for 61% of this hydrocarbon production, Rodriguez added. Speaking alongside Mexican …
Mexico to Boost Crude Reserves to Meet at Least a Decade of Demand, Pemex CEO Says Read More »
