Global energy investment is set to increase by 8% in 2022 to reach USD 2.4 trillion, with the anticipated rise coming mainly in clean energy, according to a new report by the International Energy Agency. Although encouraging, the growth investment is still far from enough to tackle the multiple dimensions of today’s energy crisis and […]
Russia has become China’s biggest supplier of oil, displacing Saudi Arabia, with record purchases rising to $7.47 billion in May or double the amount from a year ago as the Ukraine war entered a fourth month and other buyers continued to shy away from Russian energy products. According to data released by the Chinese General […]
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 – rather than capacity installations, should add flexibility in adding installations and alleviate curtailment risk, Fitch Ratings said in a note. China targets for renewables to supply 33% to national power consumption by 2025, and […]
India ranked third in renewable energy installations in 2021, after China and Russia, according to a global status report. India installed 15.4 gigawatts (GW) of renewable energy projects in 2021, said the report titled Renewable Energy 2022: Global Status Report published by REN21 (Renewable Energy Policy Network for the 21st Century). REN21, a global collective […]
China 2021/22 cotton imports are forecast to fall more than 4.3 million bales from the previous year to 8.5 million, down 300,000 bales this month and significantly less than previous projections, the US Department of Agriculture said in its latest monthly report. It said this was mainly because massive earlier imports were still in bonded […]
Crude oil prices have risen sharply in the last few months, on the back of fall in Russian exports and demand cuts in China. Brent Crude and WTI crude futures were trading above $120 per barrel on Thursday morning and could rise further, said analysts at Goldman Sachs. On the demand side, analysts believe the […]
The European Union is all set to impose the harshest sanctions against Russia targeting oil and insurance, with exemptions to Hungary. The EU plans to ban imports of Russian oil and block insurers from covering Russia’s cargoes of crude. The ban on insurers will cover tankers carrying Russian oil anywhere in the world. These sanctions could […]
A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine, says a Bloomberg report. Asia overtook Europe as the largest buyer for the first time last month, and that gap is set to widen in May, […]
Soaring prices for some critical minerals essential for battery manufacturing, as well as supply chain disruptions caused by Russia’s attack on Ukraine and by continued Covid-19 lockdowns in some parts of China, are the greatest obstacles to continued strong global electric vehicle sales, the International Energy Agency (IEA) said. Ensuring future growth will demand greater […]
China’s raw coal output posted double-digit growth in the first four months of 2022, driven by policies to increase production and supply, official data showed, according to the state-run Xinhua news agency. It quoted the National Energy Administration as saying that the output jumped 10.5 percent year-on-year in the January-April period. In the first quarter, […]
