Saudi Arabia aims to produce 10 percent of its power from renewable sources in the next six years as it pushes ahead with a multi-billion-dollar plan to diversify its energy mix and free up more crude oil for export.

Aramco is gearing up for a share listing next year, aiming to get a valuation of up to $2 trillion in what could be the world's biggest initial public offering (IPO).

“We are continuing to invest and strengthen our core oil and gas business across the value chain.”

Saudi Arabia plans to develop almost 10 gigawatts of renewables by 2023, requiring investment of up to $50 billion

Specifically, a plan to boost wind and solar energy capacity in coming years was likely to bring in $13 billion in investment, Procaccini said. There also is potential for $30 billion in mining investments to help Argentina catch up to neighboring Chile, and efforts to cut labor costs will help attract investment in oil and gas.

“Consistent with its robust performance in recent years, once again economic growth in Kenya was solid in 2016, coming in at an estimated 5.9%—a five-year high. This has been supported by a stable macroeconomic environment, low oil prices, earlier favorable harvest, rebound in tourism, strong remittance inflows, and an ambitious public investment drive,” said Diarietou Gaye, World Bank Country Director for Kenya. “Nonetheless, Kenya is currently facing headwinds that are likely to dampen GDP growth in 2017.”

Peak electricity demand has grown nearly 13% over the past two years as a growing middle class seeks new services, such as air conditioning, which continue to place higher demands on the system. Over the next 25 years, energy demand is expected to more than double as a result.

Speaking to reporters following a cabinet meeting on Wednesday, the official described India as one of Iran's good customers, but stressed that New Delhi cutting its oil purchase from Iran would not cause any trouble for Tehran as the country has more demand for its oil than can produce.

"Iran needs billions of dollars of investment to boost crude oil production and natural gas capacity," said Mehdi Varzi, a former official at state-run National Iranian Oil Company and now an independent consultant.

To meet Sustainable Energy for All objectives, it is estimated that renewable energy investment would need to increase by a factor of 2-3, while energy efficiency investment would need to increase by a factor of 3-6. Estimates suggest that a five-fold increase would be needed to reach universal access by 2030.

Although Turkey has a lack of energy reserves itself, it is a good transit state and can bring benefit to both itself and the EU through the use of alternative pipelines in different regions. Like Russia, Turkey has both problematic and good relations with the European Union, but unlike Russia it wants to be the part of Euro-Atlantic Security Community.

A government panel said in a report in April 2015 that Hazira LNG will look to expand the capacity of its LNG terminal in the western state of Gujarat by 50% to 7.5 MMtpy in the fiscal year to March 2017.

"This is a big event," Putin said. "If we keep moving at this pace, which I must say is rather impressive even to me...then Russia not only can but will become the largest LNG producer in the world."

The project has significant public importance, as it will give an impetus to economic and social development in the Russian Arctic. The Yamal-Nenets Autonomous Area is home to some of Gazprom’s key fields, which are expected to provide the bulk of Russia’s natural gas in the long term. To ensure efficient field development, the transport infrastructure should be expanded accordingly.

The Joint statement made by President Hassan Rouhan and Russian leader Vladimir Putin after their meeting in the Kremlin on Tuesday underscores the two countries' strategic partnership.