The REPowerEU plan, which aims to end the EU’s dependence on Russian fossil fuels and tackle the climate crisis, will seek to raise the share of renewables in the region’s final energy consumption to 45% by 2030.

Qatar is carrying out another expansion plan, North Field East, which will cost almost $30 billion and is set to send out its first shipments in 2026. Some supply agreements have already been finalized for that project, Kaabi said.

There is a huge potential fusion industry and businesses were urged to get involved in the supply chain now.

The Department of Energy said Thursday it issued 40 offshore wind service contracts with a potential capacity of 30,000 megawatts.

The target was confirmed alongside the publication, on Friday, of the terms of reference for the New Zealand Energy Strategy, which maps out the ambitions and next steps for shifting to a “high performing, low emissions” future.

U.S. Rig Count is up 2 from last week to 771, Canada Rig Count is down 6 from last week to 210.

Brent slipped 12 cents to trade at $92.26 a barrel, WTI were down by 11 cents to $84.40 a barrel.

Benchmark futures declined as much as 4.8% on Friday and headed for a third straight weekly loss.

Germany stuck to its refusal to cap gas prices and the 27 could only agree to disagree, declaring they will keep on examining options to put a ceiling on costs.

Sweden's six nuclear power reactors provide about 40% of its electricity. In 1980, the government decided to phase out nuclear power, but parliament repealed this policy in 2010.

The new agreement builds on the teaming agreement signed in November 2021 under which Hyundai E&C will perform the detailed design of the balance of plant and prepare the full plant construction specification for the SMR-160, which Holtec has been developing since 2010.

U.S. commercial crude oil inventories decreased by 1.7 million barrels to 437.4 million barrels.

Brent rose $1.33, or 1.4%, to $93.74 a barrel, WTI rose $1.43, or 1.7%, to $86.98 per barrel.

"If we continue to meet our savings target of at least 20% in Germany, if three LNG terminals start operating at the beginning of next year at the latest, and if the expected winter-related decline in imports and the rise in currently low exports remain moderate, then we can get through the winter without a national gas emergency," he said in a statement.

While Europe lacks transparent data on who owns stored gas, the bulk is held by utilities, including state-owned companies, that will need to withdraw fuel to supply households and manufacturers, according to people familiar with the matter.