BNEF estimates that the global annual green investments would need to almost triple to $6.9 trillion by 2030 to have any hope of getting to net zero by 2050.

Wind employs twice as many people as coal power generation. However, coal still produces 19.5% of our electricity while wind only accounts for 10.2%.

Historically, power cuts and outages were deemed a problem only for the developing world, however, we’re now seeing more of these issues in the so-called developed world, primarily driven by a lack of electricity infrastructure spend over many years.

U.S. commercial crude oil inventories decreased by 0.7 million barrels to 457.4 million barrels.

Brent had added 5 cents, or 0.1%, to $81.41 per barrel, WTI rose 9 cents, or 0.1%, to $76.98.

The Brent crude oil spot price will average $80 per barrel (b) in 4Q23 and $84/b in 2024.

According to price reporting agency Argus Media, Urals crude topped $60 a barrel on Wednesday, climbing above the cap that the Group of Seven set last year in an attempt to restrict revenue to Moscow’s war machine.

The central bank still expects a current account surplus of $47 billion this year and $38 billion in 2024. On Tuesday, it said in a statement that Russia’s worsening trade balance was caused by a decrease in export volumes as well as the decline in prices mainly for energy exports.

The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom.

About 40% of new global LNG output will come from Qatar by 2029, said Minister of Energy Saad al-Kaabi at the LNG 2023 conference.