UN Climate chief: Iran war a'simple lesson' in fossil fuel dependency
The U.N. Climate Secretary will inform EU policymakers that the disruption of energy markets caused by the Iran War is an "abject" lesson in the dangers?of?relying?on fossil fuels. The European Union, despite being geographically distant from the Middle East crisis, has been affected by it through the soaring global energy prices.
Cyprus targets gas exports in 2028, as the Mid East conflict increases supply tensions
Michael Damianos, the Energy Minister, said that Cyprus could start producing natural gas to?export by?2028. This would 'potentially? strengthen Europe's drive to diversify their energy sources, as the Middle East conflict tightens its focus on supply. The turmoil in the Gulf has raised concern about energy transits via chokepoints such as the Strait of Hormuz.
Minister: Czechs discuss 1.5 billion cubic meters of LNG with US
Hospodarske Noviny reported that the Czech Republic was 'in talks' with the United States for the supply of 1.5 billion cubic metres of liquefied natural gas. Since the Russian invasion of Ukraine, in '2022, the Czech Republic, like other countries in Central and Eastern Europe has diversified its energy sources.
Japan's weakness on energy is brought to the forefront as Middle East crisis worsens, says REI chair
The chair of the Renewable Energy Institute stated that Japan must do more to reduce their reliance on fossil fuels after the Middle East conflict escalated and halted the tanker traffic through the Strait of Hormuz. This highlighted Japan's vulnerability to?geopolitical risk. Japan imports 95% of its crude oils and 11% of liquefied gas through the Strait.
Seven countries warn EU against changing the energy market design
Seven EU member states, including the Netherlands, Sweden and Belgium, warned the executive of the bloc 'on Thursday' against interfering in the system that determines Europe's energy price. Officials at Brussels are scrambling to reduce bills. This year, energy prices are a major political issue in Europe.
Thailand increases fuel reserves and tries to secure LNG amid Iran Crisis
Thailand's Prime Minster Anutin Charnvirakul called a meeting on Thursday of the energy agencies as concerns grew about supply in case the war with Iran disrupted global shipping. After the meeting, Energy Minister Auttapol Rerkpiboon said that Thailand will increase its mandatory fuel reserve to 3% and not 1%.
India looks for alternative energy sources amid Strait of Hormuz disruption
A government source revealed on Tuesday that India is looking for alternative sources of crude oil, liquefied petroleum and natural gas in order to be prepared if the conflict in the Middle East continues for more than 15 days. The shipping through the Strait of Hormuz, between Iran and Oman - which…
Woodside posts smaller-than-expected annual profit; CEO update imminent
Australian oil and gas ?producer Woodside Energy posted a ?smaller-than-expected fall in annual profit on ?Tuesday, ?as robust production offset weaker realised prices, and said it expects to name a new CEO in the first quarter of 2026. The company stated at its results presentation that "the appointment…
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed a crucial energy transition threshold by installing more clean power than fossil fuel production capacity for the first. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean energy generation capacity operating in 2025. This compares to 1,420 GW?of fossil fuel-fueled capacity.
Shell is in need of a big deal or discovery as its oil and gas reserves are dwindling
Shell and analysts agree that the company needs to find a way to increase production to compensate for an expected shortage of between 350,000 and 800,000 barrels equivalent to oil per day in 2035, due to mature fields that are unable to meet its output targets. Oil majors have resisted the urge to 'top up' their reserves for years.
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build a LNG import facility. This will boost energy security and provide a reliable backup source of power, as well as support economic growth. By the middle of the year, the government hopes…
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build an LNG import facility. The facility will bolster energy security and provide a reliable source of backup power, while also supporting economic growth. By the middle of the year, the government…
RWE looks to buy LNG from ADNOC in Germany as it moves to diversify its supply
RWE signed a preliminary agreement with Abu Dhabi National Oil Company on Friday. The German utility stated that it could purchase LNG for European markets as Berlin strives to diversify their energy partners. The German Chancellor Friedrich Merz has been visiting the Gulf region to look for new energy sources…
Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they have colluded over decades to prevent competition from renewable energy sources, including?electric cars. The lawsuit filed in U.S. District Court, western Michigan, names BP and Chevron.
ContourGlobal, owned by KKR, enters Greece through solar and battery acquisitions
KKR's energy group ContourGlobal announced on Friday that it has entered the Greek renewables markets?with a portfolio of solar plants? and 500 megawatts of?battery -energy storage? projects. The agreement includes 26 solar plants that will generate approximately 51 gigawatt-hours (GWh) of electricity per year, enough to power 15,000 Greek homes for an entire year.
US cuts or revises nearly $84 Billion in Energy Loans
The Trump administration announced on Thursday that it will be restructuring or eliminating approximately $84 billion worth of clean energy?projects which were funded by the former president Joe Biden's administration. This is the latest move by President Donald Trump's administration in favoring fossil fuels…
Musk's Davos debut: US tariffs are a problem for solar power
Elon Musk made his Davos debut at the last minute on Thursday. He criticized U.S. Solar Tariffs, set aggressive Tesla targets, such as humanoid robot sales next year, and hinted that European approval of self-driving technology would be within weeks. Larry Fink, interim co-chair of the World Economic Forum…
EDP CEO warns EU about lost urgency in energy security and renewables push
The European Union has lost its sense of urgency in addressing energy security. Bureaucracy is still preventing the bloc to reduce costly energy imports and slowing down renewable energy projects. Miguel Stilwell d'Andrade (CEO of one of Europe's biggest renewable power producers) told reporters that…
Masdar and Engie, both from the UAE, reach financial closure on the 1.5 GW Khazna Solar Project
Masdar, a UAE-based company, and Engie, a French company have completed a 1.5-gigawatt project in Abu Dhabi. They secured financing from seven banks including the?Abu Dhabi Islamic Bank? and?Credit Agricole Corporate? and?Investment Bank?. According to the companies, this group includes KfW IPEX as well as BNP Paribas and HSBC.
What excites and concerns LNG exporters by 2026? Maguire
In 2025, the LNG industry will make history after exports and production of super-chilled fuel broke records and generated billions in revenue across the global supply chain. Gas sellers were encouraged by the 25% increase in LNG purchases in Europe. This was an important development and raised expectations that gas consumption in countries like Germany…