OPEC calls for increased investment,and the oil industry still needs to invest$14 trillion,or an average of approximately$610 billion per year. Despite global efforts to shift towards clean energy,OPEC believes that the world will still rely on oil for a long time. In the 2023 World Oil Outlook released on October 9th,OPEC pointed out that global

At the end of August 2023,the UK Department of Energy Security and Net Zero Emissions(DESNZ)released cumulative photovoltaic capacity data as of July,which is 15292.8 MW. From January to July this year,the newly added photovoltaic system in the UK was 634.8 MW,compared to 315.5 MW in the same period last year. The country set a record

Due to geopolitical conflicts,the increasing demand for light crude oil in the international market has provided an opportunity for the new oil exporting country Guyana to enter the European market. Data shows that Guyana exported 63%of its total crude oil exports to Europe in the first six months of this year,with an average daily export

With the development of local renewable energy far behind expectations,India has once again chosen to increase its coal electricity consumption,and the industry generally expects the country’s greenhouse gas emissions to reach new highs. Recently,the Indian government announced an extension of the time limit for mixed use of imported coal,requiring all coal-fired power plants to continue

Several companies in the United States are working to increase production of graphite and manganese to meet the needs of battery manufacturers, but have not yet started large-scale production. Anoion, the largest supplier of graphite for batteries in North America, announced in May this year that it plans to invest $800 million (partially funded by

Natural gas accounted for 39.8% of U.S. utility-scale electricity generation in 2022, helping balance reduced hydropower and wind energy. Despite a boom in renewable installations, actual power generation from renewables has been flat, with natural gas filling the gap. The North American Electric Reliability Corporation emphasizes the importance of natural gas in maintaining electric grid

DUBAI: After riding an oil and gas boom for decades, Gulf states are eyeing “green” hydrogen as they try to transition their economies to non-oil based revenue sources and ease the climate crisis with one stroke. Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel in a

·     Major shale oil producers are looking to ramp up output this year, but a very significant production hike seems unlikely. ·     However high U.S. output goes this year, it is not very likely it would go high enough to put significant pressure on international prices. ·     An increase in well productivity

One of the hottest trades in the oil market this year is keeping on rolling, with the potential to reshape the value of physical crude cargoes and transform global flows. The price differential between swaps for London’s Brent and Middle East’s Dubai crude has turned deeply negative, data from brokerage PVM show. It’s a dramatic

Saudi Aramco’s CEO Amin Nasser said on Monday that the company’s supplies to customers remain adequate even with recent voluntary oil production cuts by the kingdom, adding that global demand remained resilient despite economic headwinds. Saudi Arabia last week decided to extend a voluntary oil output cut of one million barrels per day for another