The growing emphasis on ESG is a key component in the upstream oil and gas industry.

This is part of the GBP1.7 billion of new direct government funding to develop a large-scale nuclear project announced in October.

The legislation is aimed at reducing carbon emissions and shifting consumers to green energy,

Al-Ghais noted that oil investments have not yet returned to pre-pandemic levels. He said it is difficult to forecast oil markets due to the current global economic conditions.

Saudi Arabia would be looking to secure investments in untapped business sectors, including green hydrogen, renewable energy, and information technology.

The company boosted coal production by 6.2% to 300 million tons and increased sales to 390 million tons.

The two programs – the Carbon Capture Demonstration Projects Program and the Carbon Dioxide Transport/Front-End Engineering Design (FEED) Program – are funded by a more than $2.6 billion investment from President Biden’s Bipartisan Infrastructure Law.

The oil ministry said June 29 that India would allow operators to sell locally-produced crude in the domestic market without restrictions from Oct. 1, but restrictions on exporting locally-produced crude would remain.

Romanian company Nuclearelectrica and NuScale will cooperate with the US Trade and Development Agency (USTDA) on a series of engineering and design activities and studies, as well further technical analyses of the Doicești site, a former thermal power plant site which has been identified as a potential location for the SMR plant.

The agreements cover a range of sectors, including renewable energy, green hydrogen, pharmaceuticals and e-commerce

Investment in electricity generation in India has rebounded from its slump during the COVID-19 pandemic, with 15.5 gigawatts (GW) of renewable energy capacity – representing an investment of a record US$14.4 billion – added in the past financial year.

The purchase would be yet another shot in the arm for Adani, who has been seeking global investors and has committed to spend as much as $70 billion by 2030 across the green-energy value chain.

H2Hubs will create networks of hydrogen producers, consumers, and local connective infrastructure to accelerate the use of hydrogen as a clean energy carrier.

The request includes $1.7 billion for the Office of Nuclear Energy (NE) and is one of the highest asks ever for NE.

India imported 84% of its oil needs and 54% of its gas needs in 2020. After coal (44%), oil represented 44% of the country’s total consumption in 2020, against 6% for natural gas.