China Gezhouba Group (CGG) has signed a CNY11.5bn (US$1.6bn) contract with PT Indonesia Dafeng Heshun Energy Industri to build the 1,200 MW Data Dian hydropower project in North Kalimantan (Indonesia).

Brent rose 77 cents, or 1.94%, at $40.49 a barrel, WTI gained 61 cents, or 1.64%, to $37.73 a barrel.

There are currently more than 20 million people unemployed as a result of the epidemic, which has killed more than 115,000 people in the United States, with minority communities among those hardest hit on both fronts.

U.S. Federal Reserve prepared to start its corporate bond buying scheme,

The pan-European STOXX 600 index rose 2.2%, recovering from a slump in the past few sessions that was fuelled by grim forecasts of an economic rebound from the COVID-19 pandemic and a resurgence in infections in the United States and Beijing.

Spending is also expected to be largely flat in 2021, landing only marginally higher than 2020 at $386 billion. Before the Covid-19 pandemic, expected total upstream investment would maintain last year’s levels, both in 2020 and 2021.

Global electricity consumption continues to increase faster than world population, leading to an increase in the average amount of electricity consumed per person (per capita electricity consumption),

Crude oil production from the major US onshore regions is forecast to decrease 93,000 b/d month-over-month in June from 7,725 to 7,632 thousand barrels/day, gas production to decrease 693 million cubic feet/day from 81,254 to 80,561 million cubic feet/day .

Germany intends to reduce greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990, to cut primary energy consumption by 30% by 2030 compared to 2008 and to increase the share of renewables in gross final energy consumption to 30% by 2030.

Indonesia is expected to produce 550 Mt of coal (down from 582 Mt in 2019),