In March alone, wind (1,418-MW) and solar (240-MW) accounted for 100% of the new capacity brought on-line for the month.

UAE-based Masdar will pursue the development of 4 GW of wind, solar and green hydrogen projects in Azerbaijan under a wider plan envisaging 10 GW of renewable energy capacity in the former Soviet republic.

Australia needs to focus on increasing power generation from its existing coal fleet to protect customers from price increases as the nation grapples with an energy squeeze

Brent firmed 32 cents, or 0.3%, to $120.04 a barrel, WTI were up 40 cents, or 0.3%, at $119.27 a barrel.

Representatives from several European countries, including Romania, Serbia, Hungary and Italy travelled to Azerbaijan to discuss growing demand for gas in early June, in light of recent Gazprom cut offs and the threat that further sanctions could hit gas imports.

India, one of the world’s biggest fossil fuel importers, is also seeking to cut its reliance on oil given its import bill is expected to almost double to $300 billion in the coming decade

Australia has more household solar per person than any other country. With the parallel growth of behind-the-meter (BTM) batteries, companies are seizing the opportunity to create Virtual Power Plants (VPPs)

Construction begins at largest wind farm in Australia

Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported

The Worldwide Rig Count for May was 1,628, up 25 from the 1,603 counted in April 2022,and up 366 from the 1,262 counted in May 2021.

U.S. Rig Count is is down 0 from last week to 727, Canada Rig Count is up 14 from last week to 117.

Brent fell 85 cents, or 0.7%, to $116.76 a barrel, WTI slipped 88 cents, or 0.8%, to $115.99.

The price of OPEC basket of thirteen crudes stood at $114.62 a barrel on Thursday,

Therefore, July production will be adjusted upward by 0.648 mb/d as per the attached schedule.

"The EU's decisions to partially phase out Russian oil and oil products, as well as to ban the insurance of Russian merchant ships, are highly likely to provoke further price increases, destabilize energy markets, and disrupt supply chains," the Russian Foreign Ministry said in a statement.