"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said. "The widening supply and demand gap paves the way for a further easing of OPEC+ supply cuts or even sharper stock draws."

Germany will now aim for a 65% cut in carbon emissions by 2030 and net zero by 2045, up from a previous 55% for 2030 and net zero by 2050.

The government has said it will grant a total of 5 billion euros in subsidies in 2021 for technologies that will help it achieve its climate goals.

India's power demand was heavily impacted during the Q1FY21 lockdown (bringing all economic activity to a standstill), falling 15.5% Y-o-Y during Q1FY21 and 7.8% Y-o-Y during 1HFY21.

OPEC+ officials said they see no reason to be alarmed, and the group's production is set to rise anyway.

"China has committed to move from carbon peak to carbon neutrality in a much shorter time span than what might take many developed countries, and that requires extraordinarily hard efforts from China,"

India's crude imports fell 10.3% year on year to 201.5 million mt in 2020, or 4 million b/d, data from the Petroleum Planning and Analysis Cell showed, as oil products demand in 2020 posted negative growth for the first time in nearly two decades.

The United Kingdom already aims to reduce GHG emissions in 2030 by 68% (excluding IAS) compared to 1990 levels. In June 2019, the country pledged to reach net zero emission by 2050.

The country’s GHG emissions increased by 0.2% in 2019 to 730 MtCO2eq, i.e., 21.4% higher than 1990 levels.

The RPS system was introduced in 2012 with an initial mandatory quota of 2%, which has been gradually raised to 9% in 2021. The policy, implemented through a system of certificate, should be effective from October 2021.

Gas imports are forecast to increase by 12.5% to 159 bcm in 2021, including 104 bcm of LNG and 55 bcm of piped gas.

China's oil product exports are expected to rise by 31.7% year on year to around 54.7 million mt in 2021,

Chinese President Xi Jinping has announced that China will boost the share of non-fossil fuels in primary energy consumption to around 25% by 2030, part of his pledge to bring the country's carbon emissions to a peak before 2030.

There are currently a lot of debates going on about the potential of hydrogen. The question arises as to what role hydrogen will play in the energy transition. In this article you can find out which political regulations have already been made and which changes are just around the corner.

The integration of a significant share of variable renewable energy sources into power grids requires a substantial transformation of the existing networks