Chinese solar panel manufacturers have said they are seeking immediate government intervention to curb investment and industry collaboration to arrest a plunge in prices of solar cells and modules, as the industry faces overcapacity. Financial incentives and a government push have helped China become the solar panel factory of the world, accounting for about 80%
Saudi Minister of Environment Eng Abdulrahman Al Fadhli has launched an incentives programme for the environment and meteorology sectors, which is one of the programmes of the Environment Fund to achieve the national strategy for the sector. This came during the celebration of World Environment Day 2024, which was hosted by Saudi Arabia under the
New Zealand’s government has said it plans to reverse a five-year-old ban on new oil and gas exploration, igniting a backlash from political opponents and environmental groups. A bill to be introduced this year would end the ban that has only allowed exploration for new petroleum on some onshore fields in the country’s North Island.
China aims to establish an initial carbon footprint management system by 2027, it has said, a move that would create a more comprehensive and unified system of standards to measure carbon emissions. The system is meant to push toward China’s carbon-neutral goal, according to a plan issued by the Ministry of Ecology and Environment and
Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records. This could tighten available supply and further lift Asian spot prices that have already gained a third since April, with heat waves across South and Southeast
European Union countries have unanimously agreed to jointly quit an international energy treaty over concerns that it protects fossil fuel investments and undermines efforts to fight climate change, the Belgian EU presidency said. The 1998 Energy Charter Treaty (ECT) allows energy companies to sue governments over policies that damage their investments. In recent years, some
ConocoPhillips has agreed to buy Marathon Oil in a $22.5 billion deal, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves. The USA oil and gas industry has been riding a consolidation wave over the last two years. Last year was one of the most
South Korea and the United Arab Emirates signed a trade agreement at a summit to sharply cut import duties and forge closer business and investment ties. “The special bond between the two leaders serves as an opportunity” to advance the countries’ strategic partnership, the office of South Korean President Yoon Suk Yeol said in a
Goldman Sachs has raised its global oil demand forecast for 2030 and expects consumption to peak by 2034 on a potential slowdown in electric vehicle (EV) adoption, keeping refineries running at higher-than-average rates till the end of this decade. The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million
Honeywell and Volts have joined forces to develop the first gigafactory in Abu Dhabi, which will focus on delivering battery cells for Residential Energy Storage Systems (RESS). In line with the sustainability discussions during COP28 in the UAE, the gigafactory is set to be completed by the end of 2026, according to a press release.
