Iran's economy shrank by 4.6% in the 2018-2019 fiscal year and the contraction is expected to deepen to 7.2% in the current fiscal year, the IIF, a finance industry body, said this week.

The crude stocks held by Saudi Arabia and Abu Dhabi were 1.41 million kiloliters, or 8.87 million barrels, at the end of November, equating to four days of Japanese oil consumption, up from 1.1 million kiloliters a month earlier, according to data released Wednesday by the Ministry of Economy, Trade and Industry.

A production cap has been put in place to prevent earthquakes linked to gas extraction at Groningen and the Dutch government plans to phase out gas extraction at the field completely by mid-2022.

In its first development phase, Leviathan has a production capacity of 1.2 Bcf/d (34 million cu m/d).

В 2019 году добыча углеводородов составила 590,1 млн баррелей нефтяного эквивалента (бнэ), в том числе 74,70 млрд куб. м природного газа и 12 148 тыс. тонн жидких углеводородов (газовый конденсат и нефть). По сравнению с 2018 годом добыча углеводородов выросла на 41,0 млн бнэ или на 7,5%.

Solar and wind power use has grown at a rapid rate over the past decade or so, but as of 2018 those sources accounted for less than 4% of all the energy used in the U.S.

The government will pay up to 14 billion euros ($15.61 billion) in financial aid to the affected states of Brandenburg, North-Rhine Westphalia, Saxony and Saxony-Anhalt until 2038, the spokesman said. Berlin would take further measures worth up to 26 billion euros to help brown coal regions until 2038 at the latest.

The German government plans to compensate utility RWE (RWEG.DE) with around 2.6 billion euros ($2.9 billion) for costs related to the country’s planned coal exit, two government sources said on Thursday.

To date, the EBRD has signed €34 billion in green investments, financed over 1900 green projects that are expected to reduce 102 million tonnes of carbon emissions yearly. In 2019 alone, the Bank financed over 2.2 GW of new renewable power capacity.

Hydrogen will be part of Turkey's short and long-term goals to ensure the security of energy supply, Dönmez said.