The European Union member states and the European Parliament on Thursday reached a political agreement to raise the targeted share of renewable energy in the EU’s energy consumption to 42.5% by 2030, up from a current target of 32%. The target is binding, Markus Pieper, a Member of the European Parliament, said on Twitter, adding

Germany and Denmark have signed a joint declaration of intent on the cooperation on renewable hydrogen and the realisation of a land-based cross-border hydrogen pipeline. The pipeline, connecting northern Germany and western Denmark, is slated to be operational by 2028. Denmark is seeking to have between 4GW and 6GW of electrolysis capacity by 2030 and

·     The UK government is considering a price floor for the windfall tax in order to ensure stability for Equinor’s Rosebank oil and gas project. ·     The windfall tax has caused concerns for Equinor, as it lacks stability compared to Norway’s higher taxed but more predictable investment climate. ·     If Equinor pulls

The EU is boosting its LNG import capacity and is ready to welcome even more LNG cargoes this year and in the coming years, Maros Sefcovic, European Commission Vice President for Interinstitutional Relations and Foresight, said on Thursday. The EU will soon have 35 LNG regasification terminals, up from 27 currently, and the regasification capacity

Global energy-related carbon dioxide emissions increased by 0.9% to reach a new record high in 2022, although the pace of growth was lower than feared, the International Energy Agency (IEA) said in a new report on Thursday. Despite the coal-to-gas switching amid the energy crisis and soaring natural gas prices, the increase in CO2 emissions

· The CEO of Vitol Group believes oil prices could trade in the $90-$100 per barrel range in the second half of the year. · With oil demand set to rise by 2.2 million barrels per day this year while supply remains limited, there is a good chance of a price rally. · The Vitol

When will oil demand peak? It depends on who you ask. Fitch Solutions, for example, doesn’t see oil demand peaking within its forecast period, which runs to 2032, according to Emma Richards, an associate director of oil and gas at the company. “Based on the way that growth is trending, it’s likely that demand will

The inflection point for fossil fuel carbon dioxide (CO2) emissions is nigh, with emissions on track to peak by 2025, according to Rystad Energy research and analysis. On the current global pathway of announced policies, projects, industry trends and expected technological advancements, global CO2 emissions are poised to hit about 39 gigatonnes per year (Gtpa)

U.S. production capacity for renewable diesel could more than double from current levels by the end of 2025, based on several announcements for projects that are either under construction or could start development soon. Two factors behind growing U.S. renewable diesel capacity are rising targets for state and federal renewable fuel programs and biomass-based diesel

Europe’s benchmark gas prices have rebounded this week as traders closed short positions at the expiry of the front-month contract and some weather forecasts suggested colder weather in northern and central Europe next week than previously expected. The Dutch TTF benchmark price jumped by 11% at over $65 (60 euros) per megawatt-hour (MWh) at the