(Oil Price) – Global energy demand rose by 2% last year with all sources of energy seeing upticks, the Energy Institute said in the latest edition of its annual Statistical Review of World Energy, previously compiled by BP. Oil, gas, and coal consumption increased modestly, at 1%, with oil demand specifically falling in China, by 1.2%. Global bas demand, however, expanded by 2.5%,
(Oil Price) – Energy investments this year are set to hit $3.3 trillion on the back of a strong increase in spending on things such as wind and solar, the International Energy Agency has forecast. In its latest World Energy Investment report, the agency also said that China will cement its position as the top energy investor globally this year. The IEA noted
(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) – Investors in energy transition businesses are enjoying a shift in market sentiment that has led to valuation slumps turning a lot of wind, solar, battery storage, and other companies from the area into great bargains. Bloomberg reports that the recent crash in wind, solar, battery, and other transition-related stocks has whetted buyers’ appetite on the grounds that the fundamentals of
(Oil & Gas 360) – The International Energy Administration (IEA) is forecasting 70% growth in global renewable capacity additions by the end of the decade. The projected momentum follows a record year for capacity growth in 2023. Solar and wind are expected to generate 95% of that capacity growth due to their growing economic attractiveness, according to the agency. The report
(Oil & Gas 360) – The federal Bureau of Land Management (BLM) has finalized its plan to add nearly 50% more public lands to generate more solar energy. The agency’s Western Solar Plan, which first targeted 22 million acres across Arizona, California, Colorado, Nevada, New Mexico, and Utah in its original plan in 2012, has been expanded to 31 million acres
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