Global primary energy demand is set to rise from 308 million barrels of oil equivalent (mboe/d) in 2024 to 378 mboe/d in 2050.

The BRICS energy alliance has launched a coordinated system of Petro-Yuan (Chinese RMB Yuan currency) oil contracts that directly challenges US dollar dominance in global energy markets.

"Thus, Rosatom was identified as the leader of the international consortium for the project to build the first nuclear power plant in Kazakhstan."

Solar is now so cheap that large markets can emerge in the space of a single year – as evidenced in Pakistan in 2024.

The JV plans to develop the renewable projects (solar, wind, hybrid, floating solar, BESS, pumped-storage hydropower) in phases, with an initial capacity of 500 MW to ramp up to 2 GW, and to eventually scale up to 5 GW.

Despite the global push for transition to cleaner sources of energy, India’s crude oil refining capacity is set to expand — to 450 million tons by the end of the decade from about 250 million tons now — on the back of growing domestic and overseas demand for oil products.

The discussion centred on new approaches to the efficient allocation of nuclear energy resources, current industry trends and prospects for cooperation between participating countries for balanced global development and energy security.

India’s imports of Russian crude are on track to hit 2.15 million barrels a day in April, the biggest monthly volume since May 2023, according to data from Kpler. Shipments have climbed since tumbling to a 14-month low in February.

ČEZ said the contract increased the diversification of suppliers and helped the energy security for the country.

The two sides discussed cooperation within the OPEC+ framework and the energy sector, including electricity, hydropower and renewables. Three coal-fired thermal power plants will be built in Kazakhstan in the cities of Kokshetau, Semey and Ust-Kamenogorsk, and two power units at Ekibastuz TPP-2 will be renovated with the involvement of Russian specialists.

On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.

Current Russia-India bilateral trade is running at US$66 billion with a target to increase this to US$100 billion by 2030.

Hindustan Petroleum Corp. Ltd. is building an 80,000 mt underground LPG rock cavern in Mangalore, which is expected to be operational by mid-2025, company and government officials said.

Asia more than doubled its installed solar capacity, with 327 GW added in 2024, including 85% (278 GW) in China and 10% (24.5 GW) in India; in addition, over 38 GW of solar capacity was installed in the United States, while Brazil and Germany each added over 15 GW.

According to the decree, the agency will take on the functions and powers previously held by the Ministry of Energy "in the areas of subsoil use, use of atomic energy, ensuring radiation safety of the population, the creation and operation of the Semipalatinsk nuclear safety zone in the field of uranium production".