The world coal industry has secured $363 billion in bank credits in the period from January 2019 to November 2021, and banks continued to support transactions on the sale of securities of companies in the industry, with their combined sum totalling $1.2 trillion.

Kuwait also plans to develop a 2 GW wind and solar project, which will be tendered by the Kuwait Authority for Partnership Projects. Meanwhile, Iraq is also considering the strategic adoption of renewable energy as a way to wean itself off of Iranian imports of gas and power, its oil minister Ihsan Ismail told IPTC.

Brent was up $3.48, or 3.7%, at $98.87, WTI jumped $4.41, or 4.8%, to $95.48.

"To be clear: these measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with Allies and partners should Russia further invade Ukraine," Psaki said.

OPEC, along with 10 allies led by Russia, has been gradually easing back production quotas it implemented at the start of the coronavirus pandemic by 400,000 b/d each month, aiming to return to pre-pandemic output levels by late 2022.

India also plans to simplify the authorisation process for green hydrogen production (including a single portal for all clearances and land provision) and to provide federal financial support to develop electrolysers.

Swedish Modular Reactors has been granted just over SEK99 million ($10.6m) in support of demonstrating a smaller lead-cooled reactor. Solkompaniet Sverige has been granted SEK14.4 million to support demonstrating a smart solar park.

Switzerland plans to build two to three gas-fired plants with a total capacity of 1 GW as part of a gas reserve.

Brent slipped to $93.14 a barrel, down 40 cents or 0.4%, after earlier touching $95, WTI dropped 28 cents to $90.79 a barrel.

In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.

"What we've seen over the last six months is that Gazprom has delivered always at the lowest level," she told the Munich Security Conference.

"In the current scenario, [the] demand for oil has outpaced production growth as economies slowly rebound from the worst of the pandemic, leaving the market with a small buffer to mitigate an oil supply shock," Singh said.

The partnership between the two countries has led to the joint work on several agreements and Memorandum of Understanding in several areas, including: The Economy, Climate Change and Houbara Conservation, Industries and Advanced Technologies, Low Carbon Hydrogen Developments and Investments, Food Security, Financial Services, and Issuance of India-UAE Joint Stamps.

“Nuclear technology has long played a vital role in prominent space missions,” said Mikhail Chudakov, IAEA Deputy Director General and Head of the Department of Nuclear Energy. “But future missions could rely on nuclear powered systems for a much broader spectrum of applications. Our pathway to the stars runs through the atom.”

EDF says it is to raise EUR2.5 billion (USD2.8 billion) to help cover the costs of measures imposed to limit French energy bills and a projected fall in nuclear output.