(Oil Price) – The world’s electricity demand is expected to surge by 30% over the next decade as data centers, electric vehicles, and demand for heating and cooling drive increased consumption, a new report by Rystad Energy says. Renewable power generation, especially solar energy, is expected to be crucial to meeting the electricity demand growth, found the report cited by Bloomberg. Renewable
(Oil Price)– Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term economic resilience, these nations have launched sweeping infrastructure
Publisher’s Note: Eni will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. (Oil Price)– Eni has signed a deal to sell 20% in its low-carbon energy business Plenitude to Ares Management Corporation in a deal valuing the unit at an enterprise value of $13.8 billion (12 billion euros). Under the agreement, global alternative investment manager Ares
(Oil Price) – Since coming into power, U.S. President Donald Trump has made his intention to pivot away from green energy in favour of fossil fuels clear. During his first month in office, he signed executive orders aimed at boosting U.S. oil and gas production and exports by declaring a national energy emergency, removing regulatory barriers, and expediting permitting approval for oil and
(Oil Price) – BP is expected to announce this week that it is shifting its focus back to oil and gas, ditching a target to boost renewable energy capacity generation 20-fold by 2030, sources familiar with the new strategy told Reuters on Monday. BP earlier this month pledged to fundamentally reset its strategy as it booked its lowest annual and quarterly profits in years and
(BOE Report) – The European Union will seek more gas from countries including the U.S. to replace Russian supplies, and expand renewable energy faster to cut its overall reliance on the fuel, the EU’s energy commissioner has said. The EU has pledged to quit Russian fossil fuels by 2027 in response to Moscow’s 2022 invasion of Ukraine. While Russian pipeline
(BOE Report) – Japan’s demand for liquefied natural gas (LNG) may grow by more than 10% to some 74 million metric tons by 2040 under a government scenario where the renewable energy rollout goes slower than expected, a senior industry ministry official said. Japan’s domestic LNG demand continued to fall last year, dropping by 0.4% to 66 million tons due
(Oil Price) – President Donald Trump campaigned on the promise of “unleashing U.S. energy dominance,” but the reality is that the United States has already achieved this goal. Over the past decade, the U.S. has cemented its position as a global energy leader, excelling in production, innovation, and influence. Here’s a closer look at the evidence behind America’s energy dominance. Oil
(Oil & Gas 360) – With slightly less than a month left before his annual global night of magic, Santa received a lengthy Christmas list after this year’s COP 29 climate action conference in Azerbaijan. The group and the International Energy Agency (IEA) have cited five key areas. They look to triple renewable energy capacity while doubling energy efficiency. Another major
(Oil Price) – Spanish utility giant Iberdrola plans to double its UK investments to $31.3 billion (24 billion British pounds) by 2028, Europe’s biggest electricity company said in a statement. Iberdrola, one of the biggest utilities and renewable energy developers in Europe and the Americas, previously planned to invest $15.7 billion (12 billion pounds) in the UK between 2024 and 2028. Now
(Oil & Gas 360) – Despite some of the highest electricity prices in the world, the United Kingdom is relegating coal to the ash heap of history as it closes the doors on the Ratcliffe-on-Soar Power Station in north-central England. The plant was commissioned in 1970 with a net electrical output of 2,000 megawatts. October 1 will mark the
Oil and Gas 360 Ford’s on-going” market therapy” regarding a less than enthusiastic reception for its three EV models is costing the company about $3 billion to convert a Canadian plant from its purpose-built EV design to produce more of its Super Duty truck models (F-250, 350 and 450). Trucks constitute the lion’s share of Ford’s business; its F-150 internal
