Paris, France | THE INDEPENDENT | The world’s capacity to generate renewable electricity is expanding faster than at any time in the last three decades, giving it a real chance of achieving the goal of tripling global capacity by 2030 that governments set at the COP28 climate change conference last month, …
Read More »Authoritarianism, debt are biggest threats to global economic stability
COMMENT | KAUSHIK BASU | The International Economic Association (IEA) recently concluded its 20th World Congress in Medellín, Colombia. This triennial event brings together scholars from all over the world to share and discuss the latest developments in economic thinking. This year’s edition underscored the urgency of re-evaluating some of the …
Read More »Global oil demand to slow significantly by 2028
Kampala, Uganda | THE INDEPENDENT | The International Energy Agency (IEA) has released its latest medium-term market report, signaling a notable deceleration in the growth of global oil demand in the coming years. The Oil 2023 outlook shows that investment in clean energy is accelerating at a faster rate than …
Read More »Uganda joins pledge for stronger action on energy efficiency
Kampala, Uganda | TE INDEPENDENT | Forty-five governments from around the world including Uganda have endorsed doubling the average global rate of energy efficiency improvements by the end of the decade. They pledged to support stronger policy action and prioritize investment in a ‘crucial decade’ for energy and climate targets. They …
Read More »EU faces potential natural gas shortage in 2023: IEA
Brussels, Belgium | Xinhua | The European Union (EU) could face a shortfall of nearly 30 billion cubic meters (bcm) of natural gas in 2023, Fatih Birol, executive director of the International Energy Agency (IEA), said on Monday. He presented a report titled “How to avoid gas shortages in the European …
Read More »Europe could risk gas shortage in 2023: IEA
Paris, France | Xinhua | Europe could face a shortage of as much as 30 billion cubic meters (bcm) of natural gas during the key summer period for refilling its gas storage sites in 2023, the International Energy Agency (IEA) warned on Thursday. “Europe needs to take immediate action to avoid …
Read More »Tapping into global energy transition
EAC governments advised to take advantage of huge demand for ‘critical minerals’ Kampala, Uganda | RONALD MUSOKE | As demand for the so-called critical minerals which are needed to power renewable energy plants and hi-tech transport systems around the world gathers pace, the big question is whether East Africans can …
Read More »Filling natural gas supply gap
Senegal and Mauritania have laid the groundwork to be front-runners in the mix to replace Russia to EU | NJ AYUK | Mauritania and Senegal have laid the groundwork necessary for BP, Kosmos, and their contractors to establish an offshore production complex, with development wells connected to a floating production …
Read More »Oil prices surge on renewed supply concerns
New York, U.S. | Xinhua | Oil prices jumped on Thursday as supply worries returned to the market. The West Texas Intermediate (WTI) for April delivery added 7.94 U.S. dollars, or 8.4 percent, to settle at 102.98 dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery …
Read More »Oil prices could go south in coming months with possible spike in mid-2022
New York, U.S. | Xinhua | Crude oil prices could soften in the coming months as looming oversupply is turning oil producers’ fortunes around, according to industry institutions and analysts. Meanwhile, a possible failure to revive the Iran nuclear deal by the first quarter of 2022 together with expected return of …
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