November 2021

Under the UK presidency and with the support of the UNFCCC Secretariat, delegates forged agreements that strengthen ambition in the three pillars of collective climate action.

China has approved expansions at more than 153 coal mines, which could add 55 million tonnes of coal output in the fourth quarter, the National Development and Reform Commission (NDRC) said last month.

Electricity consumption in Brazil should increase by an average 3.5%/year over the 2021-2031 period

Overall, AGEL's investments in renewables and hydrogen could total US$70bn by 2030.

The majority of Iraq's gas output is pumped with oil and the associated gas is mostly flared. Iraq was the world's second-worst flaring nation after Russia in 2020, according to the World Bank.

KEPCO is responsible for most of South Korea’s power production with an installed capacity of around 91 GW (around 70% of the total capacity in 2020), including 38 GW of coal, 24 GW of nuclear and 19 GW of gas.

The Netherlands aims to cut greenhouse gas (GHG) emissions by 49% by 2030 compared to 1990 CO2 levels, and by 95% by 2050.

U.S. Rig Count is up 6 from last week to 556, Canada Rig Count is up 8 from last week to 168.

Brent gained 70 cents, or 0.85%, to $83.34 a barrel , WTI rose 79 cents, or 1%, to $82.13.

World oil demand growth in 2021 is revised lower by around 0.16 mb/d, compared to last month’s assessment, to stand at 5.7 mb/d.