ENERGY

Oil pries rallied to one-month highs today after China's stimmy package prompted demand hope (and OPEC doubled down on forecasts that global oil demand will keep growing to the middle of the century).

Additionally, the threat of another hurricane in the Gulf Coast, "dealt a blow to the bearish sentiment that dominated the oil markets in the past three weeks," Claudio Galimberti, global market analysis director at Rystad Energy, wrote in a market update Tuesday.

Will (more…)

Authored by Alex Kimani via OilPrice.com,

Shell Plc has ditched plans to build a low-carbon hydrogen plant on Norway's west coast due to a lack of demand, Reuters reported on Monday. 

Shell’s announcement comes hot on the heels of a similar move by oil and gas giant, Equinor ASA.

Last week, the Norwegian state-owned multinational energy company announced that it will not move forward with plans to build a pipeline to carry hydrogen from Norway to Germany with partner RWE (more…)

Despite efforts to decarbonize the economy, global coal consumption surpassed 164 exajoules for the first time in 2023. The fossil fuel still accounts for 26% of the world’s total energy consumption.

In this graphic, Visual Capitalist's Bruno Venditti shows global coal consumption by region from 1965 to 2023, based on data from the Energy Institute.

China Leads in Coal Consumption

China is by far the largest consumer of coal, accounting for 56% of the global (more…)