OilPrice
MAY 21, 2025
One of the most difficult sectors to decarbonise is freight, and yet its one of the industries we most rely on in the modern world. While several countries are making leaps and bounds in terms of renewable energy production, little progress has been seen in decarbonising hard-to-abate sectors, despite the introduction of several national policies and international targets.
OilPrice
MAY 21, 2025
With the ink still drying on the European Union's freshly printed 17th sanctions package on Russia, work is already under way on a next step that European leaders say will be "massive." But some analysts warn that, in many ways, the EU has already played its best cards and doesn't have many left, especially at a time when Washington seems reluctant to join in as it pushes peace talks between Kyiv and Moscow.
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OilPrice
MAY 21, 2025
Indonesian natural gas producers have signed a multi-party gas swap agreement with Indonesian and Singaporean traders aimed at increasing gas supply security in western Indonesia. As gas production in Sumatra in western Indonesia is falling, local companies and regulators looks to redirect domestic gas supply to meet local demand while selling overseas gas from other areas.
OilPrice
MAY 21, 2025
The International Energy Agency is spotlighting Uzbekistan for the countrys rapid embrace of electric vehicles. An IEA report, titled Global EV Outlook 2025, notes that electric vehicle sales have skyrocketed in Uzbekistan, making the country the leading adopter in Central Asia. The report adds that the cost of imported electric vehicles has fallen almost threefold in recent years.
OilPrice
MAY 21, 2025
Russias top oil producer, state-controlled Rosneft, has acquired the company that holds the license to operate and develop a giant rare earths deposit in Siberia, the largest such reserve in Russia and one of the worlds biggest. Rosneft has taken over control of Vostok Engineering, the company which holds the license for the Tomtor rare earth metals deposit in Yakutia, the Russian national companies registry showed on Wednesday.
OilPrice
MAY 21, 2025
SSE, a major energy company and renewable projects developer in the UK, is reducing spending on renewables in its five-year plan to 2027 by $2 billion (1.5 billion) in a changing macro environment, in yet another blow to Britains clean energy ambitions. SSE said on Wednesday that it is reducing its five-year investment expectations by $4 billion (3 billion) to around $23.4 billion (17.5 billion).
OilPrice
MAY 21, 2025
Continental Resources, the U.S. shale producer, has estimated that the Diyarbak?r basin in Turkeys southeast has a reserve of 6.1 billion barrels of shale oil, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, has said. Turkey's current annual (crude) oil import amounts to 365 million barrels. So a 6.1 billion barrel reserve is a great figure, Reuters quoted Bayraktar as saying in southeast Turkey.
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