Non-fossil fuels forecast to be 50% of China’s power capacity in 2022

Non-fossil fuel energy sources such as wind, nuclear, solar and hydropower may make up half of China’s total power generation capacity by the end of 2022, for the first time ever, the country’s electricity council has forecast. China, the world’s biggest greenhouse gases emitter and coal consumer, is expected to add 180 gigawatts (GW) of

India may draw on oil reserves to soften prices

India may tap its emergency oil stockpile to cool off prices that have surged on concerns that Russia’s invasion of Ukraine will disrupt global supplies. The government is closely monitoring international energy markets as well as potential supply disruptions, the oil ministry said on Saturday. “India is also committed to supporting initiatives for releases from

World’s top banks show minimal commitments to shift away from fossil fuels

Big banking is saying little on how they will combat climate change through their financing, shows a new study which finds minimal, clear commitments to aid financing away from fossil fuels. The top 10 banks – ranked as the largest funders of fossil fuel organizations – are talking more about climate change in general. However,

India’s fuel appetite seen at a record even as oil nears $100

India, the world’s third-biggest oil user, expects consumption of petroleum fuels to touch a record next year even as crude prices move toward the $100-a-barrel mark. Demand has been pegged at 214.5 million tons in the year starting on April 1, according to predictions by the Indian oil ministry’s Petroleum Planning and Analysis Cell. If

Ukraine’s invasion underscores Europe’s deep reliance on Russian fossil fuels

Russian president Vladimir Putin’s decision to send troops into Ukraine spooked energy markets this week, amid fears that the escalating conflict and ensuing sanctions could disrupt global fossil-fuel supplies. Russia is one of the world’s largest producers of petroleum, natural gas, and coal, so any actions that curtail exports could have global ripple effects, pushing

Is Putin’s Ukraine invasion about fossil fuels?

What is the relationship between Russia’s threats to Ukraine and the gas price crisis? Gas prices are soaring globally, largely because of the resurgence of demand for fossil fuels after the Covid-19 pandemic and lockdowns, depleted storage and the difficulty of ramping up supply after the disruptions of the past two years. But prices have

India expects fuel demand to grow 5.5% in the next fiscal year

India’s fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, initial government estimates show, reflecting a pick-up in industrial activity and mobility in Asia’s third largest economy after months of stagnation. India’s fuel consumption in 2022-23, a proxy for oil demand, could rise to 214.5 million tonnes from the

Energy sector methane emissions 70% higher than official figures: IEA

Emissions of the potent greenhouse gas methane coming from the global energy sector are 70% higher than officially reported, the International Energy Agency (IEA) said on Wednesday, with the coal sector identified as the biggest single source. In its 2022 Global Methane Tracker report, the Paris-based watchdog said the world needed to step up its

Investment to accelerate Australia’s energy transition to net zero

Business — both big and small — is under no illusion as to the magnitude of the task at hand, in achieving Australia’s pledge to become a net-zero carbon dioxide-emitter by 2050. Increasingly it is falling to business to carry the standard to keep global warming below 1.5 degrees above pre-industrial levels. With the first

Breakthrough in converting carbon dioxide into fuel using solar energy

A research team led by Lund University in Sweden has shown how solar power can convert carbon dioxide into fuel, by using advanced materials and ultra-fast laser spectroscopy. The breakthrough could be an important piece of the puzzle in reducing the levels of greenhouse gases in the atmosphere in the future. The study is published