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.

Sweden and the USA have signed a memorandum of understanding aimed at pursuing cooperation in industrial collaboration, technology development, and research and innovation in technologies related to nuclear energy for peaceful purposes.

BRENT Crude trading at the Globex Open on a $76.57/bbl & WTI Crude trading at $73.64/bbl. This is after the US DOE finalised its purchase of 4.65m/bbl of Crude Oil for SPR to be delivered from October to December.ExxonMobil to also supply 3.9m/bbl,Macquarie Commodities trading to supply the rest at an average pricing of $76.92/bbl.

Престижная площадка для руководителей предприятий нефтегазовой промышленности Турции и Черного моря.

Brent fell by 32 cents, or 0.4%, to $79.46 a barrel, WTI down 36 cents, or 0.5%, at $75.45 a barrel.

According to Russian customs data, the Russia-India bilateral trade volume hit a record US$23.1 billion in the first four months of the current year, marking a 10% rise versus the same period in 2023.

Стороны обсудили широкий круг вопросов развития кооперации в нефтяной, газовой, угольной, атомной и электроэнергетической сферах, а также в области возобновляемых источников энергии и декарбонизации энергетики.

Сопредседатели МПК подробно обсудили совместные шаги по развитию сотрудничества в сферах транспорта и логистики, энергетики, сельского хозяйства, рассмотрели ход реализации проектов в области туризма и перспективы углубления интеграционных процессов в Евразийском экономическом союзе.

Discussions also included the possible implementation by Rosatom of a project for the construction of a second NPP at Sinop. Rosatom said possible design solutions would be based on the wishes of the Turkish side to strengthen the effect of the project on the Turkish economy.

The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom. The contract was supported by a Russian state loan to finance the majority of the project.

Following the South Korean government's decision to restrict state-owned power-generating companies from importing Russian thermal coal from the spot market towards the end of 2023, Russian exports lost ground to Colombian thermal coal supply in recent months.

The Prohibiting Russian Uranium Imports Act was signed by President Joe Biden in May, after being passed unanimously by the US Senate and will go into effect on 11 August.

Benchmark futures settled 2.2% higher at €32.48 a megawatt-hour Friday after slumping a day earlier. The contract also posted a second straight weekly gain.