The US will introduce a new rule to decrease methane emissions. The rule will be presented during the COP26 meeting. Methane emissions are expected to decrease by about 80% by 2038. As global temperatures rise, scientists and climate advocacy groups have pushed nations to swiftly limit emissions of methane, a potent gas that warms the … Read more
EU countries to reduce heating and cooling of public buildings. Move could cut demand for gas by up to 60 billion cubic meters. The EU imported around 140 bcm of gas by pipeline from Russia last year. The European Commission is expected next week to ask EU countries to reduce heating and cooling of public … Read more
Executives of France’s three major energy companies urge consumers to immediately reduce their energy consumption. They warn of social tensions next winter unless reserves are replenished. The call comes after the French government said this week it aimed to have its natural gas reserves at full capacity by autumn. The Executives of France’s three … Read more
The International Energy Agency and the European Commission said Thursday that adjusting the temperature and working more from home are only two of the “small actions” that might help Europe lessen its reliance on Russia. The European Union is scrambling to find alternatives to Russian energy after Moscow’s invasion of Ukraine since Russia currently supplies … Read more
HOUSTON: Exxon Mobil Corp. estimates a $4 trillion market for capturing carbon dioxide and storing it underground by 2050, according to a presentation given on Tuesday. That equates to roughly 60% of the $6.5 trillion market for oil and gas estimated by the United States’ largest crude producer by then. According to the International Energy … Read more
Stock markets mostly rose and oil prices climbed Wednesday as ias financial backers pored over information showing further spikes to expansion. A day after information showed US yearly customer expansion hit a 40-year high in March, data showed discount cost expansion hit a record yearly pace of 11.2 percent over a similar period. In the … Read more
The International Energy Agency said Wednesday that global oil demand this year will be slightly lower than forecast because of strict Covid lockdowns in China, the world’s largest crude importer. Russian oil production is expected to drop by 1.5 million barrels per day in April as a result of Russia’s invasion of Ukraine, according to … Read more
Oil sank Monday on Chinese demand fears, in the past release of strategic reserves, and dimming hope of a European embargo on Russian supplies in the wake of the Ukraine war. In midday deals, US benchmark oil West Texas Intermediate dived as low as $92.93 per barrel and European Brent hit $97.57. “It is above … Read more
JAKARTA: Indonesia, the world’s biggest exporter of coal used in electricity generation, on Saturday said it has banned January exports of the fuel in a move aimed at safeguarding its domestic power supply. Rising demand for electricity in the country risks widespread blackouts unless more supplies are diverted to power stations, the Ministry of Energy … Read more
PARIS: The Omicron coronavirus variant will slow the recovery in the global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency (IEA) said on Tuesday. The oil market “appears to stand on a better footing than it has for some time,” the IEA wrote in its latest monthly … Read more
PARIS: The head of the International Energy Agency on Wednesday called on Opec and its allies to take measures to help bring oil prices down to “reasonable levels”. “I very much hope to see in the next meeting or meetings they… make the necessary steps in order to comfort the global oil markets and help … Read more
TOKYO: Japan is considering releasing oil from its reserves for the first time to curb surging oil prices, Kyodo news agency reported, as Prime Minister Fumio Kishida signaled his readiness to counter oil price hikes following a request from the US. However, Japan may struggle to justify such a move, as under its own laws … Read more
PARIS: As warnings have intensified about the massive damage that climate change will have on the world in the coming decades, big business has started to make commitments to reduce carbon emissions. But are these companies making a genuine attempt to fight global warming, or simply “greenwashing” their brands to try to divert criticism while … Read more
The International Energy Agency (IEA) has predicted grim circumstances for the oil market across the world even after the successful trials of the coronavirus vaccine. According to the details, IEA forecasted that the vaccine was unlikely to ride to the rescue of the global oil market for a period of time. This projection came following a … Read more
Growth of solar panels and their lifespans Solar energy is converted into electricity with photovoltaic (PV) panels. These panels comprise of individual cells linked together, forming shapes and sizes based on the needs of the system. The panels are made of semiconductor materials like silicon. Solar panels on average last 25–30 years thus, solar installations occurring today can … Read more
International Energy Agency (IEA) has said that lockdown around the world due to coronavirus pandemic has set to cut the energy demand by record amounts. Media reports said that Global energy demand could slash by 6 percent in 2020 due to the restrictions placed on homes and industry. The cut would lead to a drop … Read more
Oil prices look to cuts on Tuesday nagging concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets. Reuters reported that Oil prices look to cuts on drawing concerns over economic impact of the coronavirus outbreak in China and its effect on oil … Read more
