The power industry is evolving because it must meet a growing demand for electricity, as the world population continues to increase and developing countries industrialise.

Turkey had invested around $40 billion in renewables over the last decade

Last year alone, the EBRD financed almost 2.25 GW of new renewables across its region. The Bank is currently working with 14 governments to start or launch renewable energy auctions.

EIA forecasts Brent prices will average $61/b in 2020; with prices averaging $58/b during the first half of the year and $64/b during the second half of the year. EIA forecasts the average Brent prices will rise to an average of $68/b in 2021.

India’s national transmission grid must urgently modernise to increase the rate of renewable energy adoption

Global nuclear power generation will need to significantly expand beyond its historical markets, including in so-called newcomer countries interested in introducing this reliable source of low carbon electricity, if the world is to have a reasonable chance at meeting climate change goals.

Mr Grossi said many countries were expanding or introducing nuclear power as part of their energy mix despite the Fukushima Daiichi accident in Japan almost a decade ago and highlighted its role in fighting climate change.

But the agency paints a deeply troubling picture for the country’s greenhouse gas emissions, with carbon pollution dipping briefly this decade, increasing in the 2030s, and falling only 4% overall by 2050,

"New targeted credit lines will support climate action by companies in Bulgaria, Italy, Romania and Spain, improve access to finance by energy, tourism and education companies in Serbia, help agriculture firms in Romania to expand and encourage circular economy investment in Spain," the EIB said in a statement.

Two dominant energy industry themes—the move to cleaner energy and digitalisation—can be combined to “positively impact each other”, Shell CTO Yuri Sebregts told the annual meeting of energy technology heavyweight Baker Hughes in Florence on Tuesday.

In accordance with Bahrain’s national energy plan, renewable energy will be an area of particular interest in order to consider potential business opportunities. In the LNG sector, the collaboration will target a more sustainable and efficient energy mix to meet Bahrain’s future energy needs. Eni’s unique know-how and expertise will also be leveraged to evaluate further exploration opportunities.

Tom Greatrex, CEO of the UK Nuclear Industry Association, said in a statement that, to reach net-zero emissions by 2050, and power a boom in electric vehicles and heating, the UK needed to quadruple its production of clean power.

In the AEO2020 Reference case, U.S. crude oil production reaches 14.0 million barrels per day (b/d) by 2022 and remains near this level through 2045 as tight oil development moves into less productive areas and well productivity declines.

U.S. electricity generation from renewable sources such as wind and solar to surpass nuclear and coal by 2021 and to surpass natural gas in 2045.

Wind power is one of the most important drivers of Germany’s transition to renewable energy and a related target for green energy to reach 65% of electricity production by 2030 will be missed at the current rate of turbine growth,