August 2024

European natural gas prices posted a double-digit advance for a second consecutive week after fears of possible disruptions to Russian fuel supplies crossing Ukraine.

In support of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE) today announced a $2.2 billion investment in the nation’s grid for eight projects across 18 states

The IAEA has been monitoring the situation on the reported military activities taking place in the vicinity of the Kursk Nuclear Power Plant (NPP).

Brent gained 97 cents, or 1.27%, to $77.27 a barrel, WTI climbed $1.14, or 1.56%, to $74.08.

The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of May and June 2024 and noted the high overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

Ряд государств, входящих в ОПЕК+ (Россия, Саудовская Аравия, Алжир, Ирак, Кувейт, ОАЭ, Казахстан и Оман), которые ранее взяли на себя обязательства добровольного дополнительного сокращения добычи нефти на 2,2 млн баррелей в сутки, объявили о том, что после сентября 2024 года могут постепенно корректировать параметры сделки и наращивать добычу нефти в зависимости от рыночных условий.

However, this rapid transition has raised concerns about the stability and reliability of our energy systems. It's already becoming clear that the premature adoption of nascent technologies has led to:

The cessation of fossil fuel use would strand approximately $60 trillion of coal, oil and natural gas resources, depriving the owners of those resources of their profitable sale and depriving the nation of their beneficial use.

AI chatbots such as ChatGPT and Bard are known as voracious consumers of electricity and water. More precisely, it is the colossal data centers powering them that are to blame and there are no signs of slowing down.

The International Energy Agency (IEA) predicts that the US data center electricity consumption will rise from 200 TWh in 2022 to about 260 TWh by 2026 – roughly 6% of US electricity demand – while a study by the Boston Consulting Group (BCG) puts the number at 7.5% by 2030.