Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC
Day two's theme 'The Technology Leap: Redefining Energy Leadership' underscored how strategic AI adoption and digital innovation are reshaping energy leadership, with industry voices calling for coordinated investment to unlock transformation at speed and scale Experts debated AI’s role in boosting efficiency, enhancing resilience and unlocking investment while addressing the balance between AI’s potential and its impact on energy demand Key speakers included Jack Hidary CEO, SandboxAQ; Dr.
Official: India's rapid roll-out of renewable energy and the mismatch in demand is driving up electricity costs.
A senior official from the Central Electricity Authority said that India's rapid rollout of renewable energy is straining grid operations, and increasing electricity costs because demand has not kept up with it. In the first half 2025, India's renewable energy output grew at its fastest rate since 2022. In the first half of this year, India achieved 50% of its electricity installed capacity using non-fossil sources. Its target was to add 500 gigawatts of power by 2030. The Energy and Resources Institute in New Delhi organised a forum.
ExxonMobil warns EU laws could force ExxonMobil to leave Europe
Woods is one of a growing group of energy producers who are urging European legislators to revise Corporate Sustainability Due Diligence, which mandates that companies operating in the EU identify and address risks related to human rights and the environment across their supply chain. Woods said on the sidelines at the ADIPEC conference in Abu Dhabi that it would be impossible for us to remain in Europe if we couldn't succeed there. The directive is intended to provide investors with greater visibility of risks throughout the value chain…
ExxonMobil warns EU laws could lead to Exodus from Europe
ExxonMobil, the U.S. energy company, will be unable to do business in Europe if the EU does not loosen a law on sustainability that penalises companies with fines up to 5% of their global revenue. Woods has joined a chorus of energy producers outraged by the EU's law that requires businesses doing business within the EU to fix any human rights or environmental problems in their supply chain. Woods said on the sidelines the ADIPEC conference in Abu Dhabi that it would be impossible for us to remain in Europe if we couldn't become a successful business.
West Balkan energy producers should adopt carbon price as EU tax is looming, say campaigners
In a report published on Thursday, an environmental agency recommended that Western Balkans countries work to introduce their own carbon pricing for electricity generation in order to reduce the impact of EU new taxes on fossil fuel generated energy which will be implemented next year. Carbon Border Adjustment will be implemented on January 1, 2026. Importers of goods, including electricity, from outside the EU will be required to pay the carbon dioxide emissions that are associated with the production of their products in their country.
Solar industry in Spain warns about price threats to energy transition
The number of hours in which solar power prices were zero or negative has increased this year, a sign that the supply is exceeding demand, and producers are forced to pay for power offloading or to stop their plants. This trend could threaten Spain's move to green energy. UNEF reported that between January and September of this year, solar energy producers experienced 693 hours with negative or zero electricity prices, which is the same as last year. The UNEF's Jose Donoso said…
Sources say that Raisa Energy is selling US oil and gas assets worth $1.5 billion, according to sources.
People familiar with the matter say that Raisa Energy, a private investment firm, is selling an oil and gas package across several U.S. Shale basins. The package could fetch up to $1.5 billion. These sources, who asked not to be identified because the process was confidential, said that the sale is still in its early stages and that the final price may fluctuate depending on the market conditions and other variables. TPH, a boutique advisory firm Perella Weinberg Partners' energy-focused investment bank, advises Raisa in this effort, according to the statement.
Alberta has eliminated the gas flaring limit in 2024.
Calculations show that energy producers in Alberta, Canada’s largest oil producing province, exceeded the self-imposed provincial limit for annual gas flaring by 2024, for the second consecutive year. Alberta's energy regulator announced late last week that it would be ending the flaring limit. The regulator, who quietly posted a bulletin to its website, is the first one to report this change. The regulator confirmed Monday that the limit had been removed and stated it was in response to the direction of the provincial government.
On Monday, France and Germany saw a decline in demand
German and French spot price had not traded on Friday early, while demand in both countries is expected to drop on Monday and renewable output shows divergent trends throughout the region. LSEG data shows that the German and French Monday basis power contracts had not been traded by 838 GMT. LSEG data indicated that German wind power production was expected to drop by 1.2 gigawatts to 15.9 GW Monday, while French supply was projected to increase by 2.2 GW up to 5.2 GW. LSEG data indicated that residual load in Germany is expected to rise on Monday.
Germany proposes grid fees overhaul to better fit renewables
The German network regulator started Monday a formal procedure to rethink electricity grid fees, with the goal of a system that is better suited for renewable energy. The use of the electricity network accounts for around 20% in Germany's consumer bills. This contributes to the high energy prices in Europe that hurt the economy and industry. Reform is needed to increase revenue and include more stakeholders in the costs of network expansion. Industry experts claim…
Baker Hughes reports that the US oil and gas rig counts have fallen to their lowest level since January.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced their number of operating oil and natural-gas rigs to its lowest level since January. The number of oil and gas rigs, a good indicator of future production, dropped by six in the week ending May 9 to 578. Baker Hughes reported that the total number of rigs is down 25 or 4% from this time last week. Baker Hughes reported that oil rigs dropped by five this week to 474, the lowest level since January. Gas rigs remained unchanged at 101.
Cenovus Energy, a Canadian energy company, beats its quarterly profit forecasts on the back of higher production
Cenovus, a Canadian oil and natural gas company, reported a decline in its first-quarter profits on Thursday. However it managed to surpass Wall Street expectations on the strength of increased production and improved refining profit margins. Following the results, shares of the Calgary-based company listed in America rose nearly 1.4% during premarket trading. The completion of the pipeline has been a boon to Canadian energy producers. The project is the only way to export products outside the U.S. The capacity of the pipeline has been increased to 890 000 barrels per day.
US to revise offshore oil and natural gas bonding rules era Biden
The Trump administration is revising a Biden era rule which required the oil and natural gas industry to provide new financial guarantees of nearly $7 billion to cover the costs of decommissioning older infrastructure. This was announced by the Interior Department on Friday. The agency stated in a press release that it would be developing a new regulatory framework, but gave no specifics. This move aligns with the efforts of President Donald Trump to reduce federal regulation and increase domestic energy production.
French up and German down on mixed weather signals
On Wednesday, European power prices took different directions. Germany's fell due to higher wind generation while France's rose along with increased demand caused by the colder weather. The German power price for the day ahead fell by 2.8% at 0900 GMT to 122.8 Euros ($134.10) per Megawatt Hour. The French baseload rate for the day ahead was up 6.2% to 116.3 euros/MWh. LSEG data indicated that Germany expected wind output to increase to 5.9 gigawatts on Thursday. This is an increase of 600 megawatts. The French nuclear capacity remained unchanged at 77%.
World Bank and other lenders criticise Pakistan’s energy negotiations
A group of eight development financing institutions warned that Pakistan's unilateral renegotiation will damage investor confidence in the clean energy sector and harm its long-term prospects. Last year, Pakistan announced that it would renegotiate contracts with independent energy producers in order to reduce "unsustainable" electric tariffs. In a letter, the International Finance Corporation of the World Bank, the Asian Development Bank (ADB), the Islamic Development…
Officials in Malaysia have announced that they will take action against fraud in the export of used cooking oil.
Malaysia's deputy commodities minister said that it would crack down on fraud within the used cooking oil sector, while western governments investigated whether the shipments of biofuels from Asia contained virgin oil. According to Deputy Plantation and Commodities Ministry Chan Foong Hin, the Malaysian Palm Oil Board is revising its policies and standards governing palm industry waste (SPO), also known as used cooking oil. This will help to distinguish between them and prevent discrepancies when exporting.
Sources say that the US will issue a hydrogen credit rule next week with a path for nuclear.
Two sources with knowledge of the situation say that the U.S. Treasury Department will release guidance this week on how to obtain tax credits under the 2022 inflation reduction act for the production of hydrogen. Sources said that the long-awaited guidance would provide a way for hydrogen produced by nuclear power to be eligible for credits. However, details were not made clear. Environmentalists have argued that only hydrogen generated with clean energy sources such as solar and wind should qualify for the subsidies.
Russia's Oil Tsar: Trump's actions to defend US Producers are 'fitting.'
Igor Sechin is the president of Rosneft - Russia's biggest oil producer. He said on Saturday that he agreed with Donald Trump's plans to protect domestic energy producers. He said at a Qatar conference that Trump's election campaign promises included "fitting" measures to protect domestic energy producers, the market, and other economic factors. Some Russians are cautiously optimistic about Trump's return on Jan. 20, while others believe that another U.S. President will not make much of a difference.
US soyoil prices jump as China reduces export incentives for biofuel feedstocks competing with US soyoil
U.S. Soyoil Futures rose 2% on the Friday after China announced it would reduce export incentives for certain products, including used cooking oils. Used cooking oil is a low-cost source of feedstock that U.S. Biofuels Makers use instead domestically produced soybean oil. China's Finance Ministry said that it will reduce or cancel export-tax refunds beginning next month. This includes some refined oil products, which traders have said include used cooking oil (UCO). This announcement is the latest wildcard in the U.S.
Oil Dips 2% as Hurricane Fears Ease
Oil prices fell more than 2% on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.U.S. West Texas Intermediate futures CLc1 led the decline, down 2.8%, or $2.01, at 70.35 per barrel by 1:32 p.m. ET (1832 GMT) . Global benchmark Brent crude futures LCOc1 fell 2.3%, or $1.77, to $73.86 per barrel.Energy producers shut in more than 22% of oil output in the U.S.