Germany suffered the most among EU member states from the Russian supply curtailments, with a number of buyers forced to buy expensive gas on the open market to make up for the Russian shortfall.

Renewable generation capacity increased by 295 GW (+9.6%) in 2022. Solar energy continued to lead capacity expansion, with a massive increase of 192 GW (+22%), followed by wind energy with 75 GW (+9%). Renewable hydropower capacity increased by 21 GW (+2%) and bioenergy by 8 GW (+5%). Geothermal energy increased by a very modest 181 MW.

"Every politician knows who blew up Nord Stream, but hypocritically keeps quiet," says Vucic.

Energy Infrastructure: Low-carbon heating requires technologies that ensure an efficient and secure integration into the (electrical) grid.

A total of 529.2 billion cubic meters of gas were added to natural gas reserves in the course of geological exploration in 2022. This means that gas reserve addition rates have been surpassing gas production rates for as many as 18 consecutive years (with the 2022 production rates standing at 412.6 billion cubic meters of gas).

Africa’s ability to leapfrog traditional power systems and adopt renewables on a massive scale is not a fantasy. In-depth studies from Wärtsilä have demonstrated that with the adequate support of flexible power technologies, ambitious renewable energy objectives in Africa are not only achievable, they also represent the soundest and cheapest strategy for the successful electrification of the continent.

Preliminary production figures for February 2023 show an average daily production of 1 994 000 barrels of oil, NGL and condensate.

U.S. commercial crude oil inventories increased by 1.1 million barrels to 481.2 million barrels.

U.S. commercial crude oil inventories increased by 1.6 million barrels to 480.1 million barrels.

Brent climbed 93 cents, or 1.2%, to $78.38 a barrel, WTI gained 96 cents, or 1.4%, to $72.29 a barrel.