Government body calls for support of offshore wind in Sweden
The development of offshore wind projects off the coasts of Sweden is not commercially feasible, according to a government panel tasked with speeding up and reviewing the process for authorising new wind farms. The head of the commission…
IEA projects a comfortably supplied oil market by 2025 despite a demand increase
The International Energy Agency (IEA), which is a part of the OPEC+ producer group, said that there will be enough oil on the world market in 2025. This was despite OPEC+ extending its oil supply cuts, and a slightly higher demand forecast than expected.
ReNew Energy, India's energy company, has offered to be privatized in a $2.82 billion deal
Filings with the U.S. Securities And Exchange Commission show that some of the largest investors in ReNew Energy Global are offering to take the company public. The proposed deal values the generator, according to calculations, at $2.82 Billion.
Gazprombank's Gazprombank order has led to a rouble rally and a reduction in the gas market
The rouble and European gas prices both fell on Friday. This was due to market speculation that Moscow's efforts to assist Gazprombank in bypassing U.S. sanctions would keep Russian gas exports flowing. The decree was signed by Russian President Vladimir Putin on Thursday.
Methane emissions are a threat to climate goals
Scientists and policymakers are urging aggressive action to reduce the production of methane, a powerful greenhouse gas. Nearly 160 nations have committed to reducing methane emission levels by 30% from 2020 levels by the end this decade.
How methane threatens climate goals
Scientists and policymakers are urging aggressive action to reduce the production of methane, a powerful greenhouse gas. Nearly 160 nations have committed to reducing methane emission levels by 30% from 2020 levels by the end this decade.
The US climate envoy said that work would continue despite Trump’s return
John Podesta, U.S. Climate Envoy, urged governments on Monday to believe in the promise of the United States to combat global climate change. He said Donald Trump could slow down, but not stop the transition away from fossil fuels, when he returns to the White House in January.
The future EU energy chief says he will speed up the end of Russian gas imports
Dan Jorgensen wants to end the EU's dependency on Russian fossil fuels as soon as possible, he said at a Tuesday parliamentary hearing. Ursula von der Leyen, President of the European Commission, has given Jorgensen the task to lower…
Sources say that OPEC+ has agreed to delay the December production increase by one month.
Three sources within the producer group said on Sunday that OPEC+ had agreed to postpone by one month the planned increase in oil production for December, due to the weak demand, notably coming from China, and the rising supply from outside the group.
Climate Investment Funds Board backs $1 billion Turkey grid upgrade project
Climate Investment Funds, a multilateral lender, has announced that it will provide an initial investment of $1 billion to support a plan to upgrade Turkey’s electricity grid to handle more renewable energy. The CIF board approved a…
Demand for Spots drops as public holidays approach
The European power price fell on Thursday ahead of All Saints Day in some parts of the region, which falls on November 1. This added to the expectation of a weaker demand for the weekend. Data from LSEG's utility EDF and LSEG showed…
Egypt to bid for LNG cargoes up to 20 to meet Q1 2025 Demand
Three trading sources said on Monday that Egypt will issue an tender to procure up to 20 LNG cargoes to meet the demand in the first quarter 2025. The largest Arab country, which has the most people in it, is now a net gas importer. It has bought more than 50 cargoes this year.
Sources say that India's HPCL will start a LNG terminal by the end of the year and seeks a long-term supply.
Three sources claim that India's Hindustan Petroleum Corp. (HPCL) has been in discussions with eight to nine companies about a long-term LNG supply. HPCL built the sixth LNG import terminal in India at Chhara, located in western India.
PPA Platform reports that European renewable energy prices dropped in Q3, PPA platform.
The price of European power purchase agreements for green electricity dropped by 12.4% during the third quarter, compared to the same period in 2023. This was revealed on Thursday by the price tracking platform LevelTen. The report cited several factors…
EEX launches Irish power futures and extends some seasonal expirations
It was announced on Thursday that the European Energy Exchange (EEX), will launch a new set of Irish baseload futures, and extend expiries of a number of products in the Dutch, French, and Japanese power derivatives market, starting Nov. 25.
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 Gas demand in Europe fell dramatically in 2022-23…
OPEC+ panel doubles down on compliance with output policy
The top OPEC+ Ministers met to keep the oil production policy unchanged, including a plan for a gradual increase in output starting from December. They also stressed that some members must make additional cuts to compensate for excessive output.
Siemens Energy settles with US over gas turbine contract dispute
Siemens Energy said it had agreed to pay $104m to settle with U.S. Authorities after using stolen trade secrets five years ago to inflate its bids on contracts. The proposed settlement between a U.S. Court in Virginia and Siemens Energy…
China Solar Group and regulator propose reforms in tendering to increase prices
The Chinese industry ministry and the solar sector association are proposing changes to power plant tendering in order to combat falling equipment prices which has led to manufacturers making losses. China's solar panels producers are…
US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley, CFTC Director of Enforcement, said that the CFTC had…
