Energy

Crude Oil

China's Sinopec Plans Its Biggest Capital Expenditure in History

China Petroleum & Chemical Corp, better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a de…

Natural Gas

Will Importers Cave into Putin’s Gas for Rubles Demand?

Russian President Vladimir Putin recently required “unfriendly” buyers of the country’s natural gas to pay in rubles, a move that could have far-reaching imp…

Ukraine

Ukraine Impact on Energy Prices to Force UK Slowdown

Britain’s economic growth is expected to slow down as the Ukraine conflict raises the cost of energy and commodity prices.

Energy Transition

AfDB Pledges $2.8bn Towards South Africa for Energy Transition

African Development Bank Group President Dr Akinwumi A. Adesina has pledged his institution’s support for South Africa, announcing a $2.8 billion package for t…

Energy Transition

Global Leaders Vow to Strengthen Energy Security and Accelerate Clean Energy Transitions

The IEA Ministerial Meeting saw ministers gather from around the world in response to energy security and climate crises.

LNG

EU Strikes Gas Deal with the U.S. as It Seeks to Cut Its Reliance on Russia

U.S. President Joe Biden and European Commission President Ursula von der Leyen announced the formation of a joint task force to bolster energy security for Ukr…

Oil Price

IEA Ready to Release More Oil to the Market to Cool Prices 'if Needed'

The International Energy Agency said its members are ready to release more oil into the market “if needed” to tackle soaring prices in the wake of Russia's mi…

Shell to Invest up to £25 Billion in UK Energy System over Next Decade

Shell has announced it will invest up to £25 billion in the UK energy system in the coming years.

China

China's Annual Energy Production Capacity to Be 4.6 Bn MT Coal by 2025

China recently decided to raise its annual comprehensive energy production capacity to over 4.6 billion metric tonnes of standard coal by 2025.

Energy Storage Battery

ARENA Grants $14m Funding for AGL’s Broken Hill Battery Project

The Australian Renewable Energy Agency (ARENA) announced it will invest $14.84m to help AGL fund its 50-megawatt (MW)/50-megawatt-hour (MWh) lithium-ion large s…

Germany

German Association Calls for Law Changes to Promote Solar Repowering

The German government should amend the current Renewable Energy Act (EEG) to support the repowering of solar parks on the way to the goal of boosting solar capa…

Russian Federation

Russia's Energy Chief Says It Would Accept Bitcoin for Oil and Gas

The heavily-sanctioned country is scrambling to find ways to increase its revenue and has floated the possibility of allowing China and Turkey to pay for energy…

Electric Car

LG Invests $1.4 Billion into First US Cylindrical Battery Plant

LG Energy Solutions (LGES) has announced a KRW1.7 trillion ($1.4 billion) investment in a cylindrical battery plant. It is said to be the first-ever cylindrical…

Net Zero Emission

IEA Receives $22 Million Annual Funding Stream to Expedite Net Zero Roadmaps

The International Energy Agency has received a major funding boost in the form of a €20 million funding stream from member countries, enabling the scale-up of …

Energy Storage System

US Energy Storage Sprinted to a Record-Setting End to 2021

The U.S. energy storage market set quarterly and annual records for new capacity additions, according to a report.