This €200bn package is expected to include a €96bn subsidy scheme which was introduced earlier in October 2022.

Saudi Arabia is China's top crude supplier with most of the country's refineries designed to crack Middle East crudes.

The REPowerEU plan, which aims to end the EU’s dependence on Russian fossil fuels and tackle the climate crisis, will seek to raise the share of renewables in the region’s final energy consumption to 45% by 2030.

Going by big-ticket announcements of exits from coal in the last few weeks, sentiment in Australia is tilting toward those opposed to coal consumption, but market sources believe in the absence of replacement electricity generation sources, the closure of coal plants will inflate consumer power prices.

In a two-hour speech to kick off the weeklong Communist Party Congress, Xi said that prudence would govern China’s efforts to peak and eventually zero out carbon emissions.

Progress on the world’s rising climate action ambitions could be undermined by a shortage of some of the critical minerals used in clean-energy technologies including wind turbines, solar farms and electric vehicles (EVs),

With AI, utilities can forecast more accurately to predict how much actual power their installations will generate in any situation.

Traders are on edge with Russian President Vladimir Putin saying any energy infrastructure in the world is at risk after the Nord Stream explosions, which he said benefited the US, Ukraine and Poland.

EU energy ministers gathering in Prague on Wednesday will consider that model, which has already been adopted by Spain and Portugal, allowing consumers to avoid the worst of the price surges.

Amidst volatility in global energy markets, continuing recovery from the COVID-19 pandemic, and increasingly frequent climate-related challenges, the United States and India reiterated their commitment to accelerating a just and sustainable energy transition.