Iranian Minister of Petroleum Bijan Zangeneh stressed the non-political nature of oil, saying the US was using oil as a weapon which was not the right approach.

The share of U.S. total energy consumption that originated from fossil fuels has fallen from its peak of 94% in 1966 to 80% in 2018. The total amount of fossil fuels consumed in the United States has also fallen from its peak of 86 quads in 2007. Since then, coal consumption decreased by 10 quads and petroleum by 2 quads, more than offsetting a 7 quad increase in natural gas consumption.

Bulgaria’s state gas company signed a €1.1 billion ($1.2 billion) contract on Wednesday with Saudi-led group Arkad to build a gas pipeline to carry mainly Russian natural gas.

Nuclear and renewable generation should be used in combination to make the most of their synergies in integrated systems to help the world meet carbon reduction goals and limit temperature rise, leaders from governmental and non-governmental organisations and industry said yesterday. Innovative nuclear technologies will play their part in integrated systems alongside renewables, with combined uses of heat and power, hydrogen production, desalination and industrial decarbonisation.

ROSATOM and the Ministry of Energy and Mines of the Dominican Republic signed a Memorandum of cooperation in the field of peaceful use of nuclear energy.

the Governments of the Russian Federation and of the Republic of Uganda signed an intergovernmental agreement on cooperation in the peaceful uses of nuclear energy.

The E-Fusion Initiative aims at bringing together the French nuclear supply chain and Emirati companies around projects for the UAE Peaceful Nuclear Energy Programe. The initiative is co-headed by the Emirates Nuclear Energy Corporation (ENEC) and the French Nuclear Industry Association (GIFEN).

EDF and Westinghouse are looking at SMRs as a way of standardizing reactor construction after struggling with years of delay and billions of dollars of cost overruns on their big nuclear reactors, which have capacities upwards of 1,000 MW.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 1-3/4 to 2 percent.

Brent were down 75 cents, or 1.16%, at $63.80 a barrel, WTI were down $1.15, or 1.94%, at $58.19.