(Oil Price) – Despite the surge in renewable energy additions, the world is not yet on track to reach the goal of tripling renewables capacity by 2030, according to the Renewables 2024 report published by the International Energy Agency (IEA) on Wednesday. Global renewable capacity is expected to grow by 2.7 times by 2030, surpassing countries’ current ambitions by nearly 25%. But it
Oil Price The COP28 climate summit extended overtime on Tuesday as nations continue to disagree on wording about the use and production of fossil fuels, with former Western officials suggesting that the Dubai conference is on “the verge of complete failure”. Former U.S. Vice President Al Gore said that “COP28 is now on the verge of complete failure.” “The world desperately needs
Nasdaq DUBAI – The global nuclear industry got a morale boost at the COP28 climate summit in Dubai after more than 20 nations vowed to triple capacity by 2050. But reaching that goal will require the industry to overcome regulatory hurdles, financing obstacles, fuel bottlenecks, and public safety concerns that have contributed to a long history of project delays and decades of
Oil Price COP28 President Sultan Al Jaber, who is also group CEO of the Abu Dhabi National Oil Company (ADNOC), denied on Wednesday reports of plans to use the climate summit in Dubai for pushing oil deals. Al Jaber’s presidency of COP28 has stirred controversy in recent months. He is the first CEO designated to be president of any climate summit so
Nasdaq The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at combating fossil fuel-driven climate change in Dubai. The Interior Department’s U.S. Bureau of Land Management (BLM) will offer 63 drilling
Nasdaq LONDON – The chief executive of oil giant Saudi Aramco 2222.SE, said on Tuesday this year’s COP28 U.N. climate conference should focus on cutting emissions from hydrocarbons, rather than reducing their production. CEO Amin Nasser was speaking at the Energy Intelligence Forum in London, ahead of the climate conference which is due to begin in Dubai on Nov. 30. “The
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