Historically in the U.S., transmission infrastructure has expanded annually by about 1%. The study explains the country's transmission infrastructure must expand at a pace of 2.3% annually — more than double its current pace.

U.S. Rig Count is up 3 from last week to 782, Canada Rig Count is up 1 from last week to 201.

Brent had edged lower by 13 cents or 0.1% to $89.65 a barrel, WTI rose 13 cents, or 0.2%, to $81.77 a barrel.

Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.

The electric grids at most risk of supply shortfalls are in Texas, the central US system stretching from the Great Lakes to Louisiana, New England and the Carolinas, the North American Electric Reliability Council said in its seasonal assessment Thursday.

Nuclear energy must play a central role in economic relaunch strategies.

The Indonesia Just Energy Transition Partnership (JETP), which will be financed over a period of 3 to 5 years, is also backed by Canada, Denmark, the EU, France, Italy, Germany, Norway and the UK.

Under this strategy, India plans to expand its green hydrogen production, increase electrolyser manufacturing capacity, and increase its nuclear capacity three-fold by 2032 (6.8 GW at the end of 2021).

South Africa's electricity generation is dominated by coal - Koeberg supplies about 5%.

Aramco is making its biggest ever investment in South Korea to develop one of the world’s largest refinery-integrated petrochemical steam crackers through its S-OIL affiliate, in line with the company’s strategy to maximize the crude to chemicals value chain.