Global Climate News

The African Energy Chamber (AEC) has stressed the need for a multi-energy approach in Africa during the 15th IEA-IEF-OPEC Symposium in Riyadh, Saudi Arabia. AEC's Executive Chairman NJ Ayuk emphasized that transitioning to renewable energy alone is not feasible for Africa, which currently faces an energy crisis, with 600 million people lacking access to electricity. He argued that fossil fuels are essential for addressing energy poverty and urged the IEA to acknowledge the unique energy needs of the continent.

Guyana has been endorsed by the African Export-Import Bank (Afreximbank) to establish a $1 billion oil service financing facility. This initiative was announced by Prof. Benedict Oramah during the Guyana Energy Conference and Supply Chain Expo. The financing will enhance local participation in Guyana's burgeoning oil industry in accordance with government policies. The funds will be utilized to support local contractors and facilitate growth in the regional oil sector.

Congo has set a target to increase its oil production to 500,000 barrels per day by 2027 and introduced a Gas Master Plan. The Congo Energy & Investment Forum will occur from March 24-26, 2025, in Brazzaville. Notable participants include NOV and Accenture, who will engage in discussions highlighting their contributions to enhancing operational efficiency and supporting sustainable energy development.

In January 2025, the price of crude oil increased significantly, with the Brent price rising by 8.6% in euros and 7.4% in US dollars. Simultaneously, natural gas prices on the European market saw an increase of 7.0%, setting an average price of 48.3€/MWh. These increases were attributed to various factors, including currency depreciation. Overall, prices of imported raw materials also saw a general rise, impacting multiple sectors.

Sweden's gas sector is looking for clearer guidelines regarding the proposed gas transmission tariff. The ACER (Agency for the Cooperation of Energy Regulators) emphasized the importance of transparency in the tariff setting process to ensure the sustainability and reliability of gas transmission in the region.

Southern Africa has emerged as a promising oil and gas market, with significant deposits in Namibia’s Orange Basin and untapped potential in South Africa. The African Energy Week 2025, scheduled for September 29 to October 2, highlights the region’s energy potential and aims to unite governments and stakeholders to foster collaboration and investment. Angola is set to launch a final bidding round for nine oil blocks to attract investors. Mozambique is advancing several large-scale LNG projects, while Namibia prepares for first oil production by 2029.

Norway's Aker BP ASA and its partners drilled a dry well in the "Bounty Updip" prospect in the Norwegian Sea. The well, designated 6306/6-3 S, was part of production licence 886 and aimed at proving petroleum in Upper Jurassic reservoir rocks in the Rogn Formation. Unfortunately, the well was found to be dry. It was drilled using the Scarabeo 8 rig and reached a vertical depth of 1607 meters below sea level before being permanently plugged and abandoned.

Canada-based Frontera Energy Corporation announced that it will release its financial results for the fourth quarter and year ended December 31, 2024, along with the company's 2024 year-end reserves and operational updates before the markets open on March 10, 2025. In this release, senior management, including CEO Orlando Cabrales and CFO René Burgos, will discuss the company's performance and operational updates in a conference call scheduled for the same day at 11:30 a.m. Eastern Time.

Germany-based Salzgitter Flachstahl GmbH has laid the cornerstone for one of the largest green hydrogen production plants in Europe. The plant, which will start operating in 2026, is expected to produce around 9,000 tons of green hydrogen per year for carbon-reduced steel production as part of the SALCOS® program. This initiative aims for virtually carbon-free steel manufacturing. The 100 MW electrolysis plant will be supplied by the international technology company ANDRITZ, utilizing HydrogenPro's pressurized alkaline electrolysis technology.

US Energy Information Administration has reported a 10% increase in residential energy expenditures for homes heating with natural gas and propane for the current winter compared to last winter. Originally, they expected households to spend between 2% less or 7% more depending on the weather. However, the colder temperatures and increased energy prices resulted in higher than expected expenditures.

Norway's Offshore Directorate reported a minor increase in total petroleum resources on the Norwegian continental shelf (NCS) in 2024. The total volumes reached 15,611 million Sm³ of oil equivalent, representing a 36 million Sm³ increase from the previous year. About 56% of total resources have been sold and delivered with an emphasis on the need for increased exploration to maintain production levels. Nadine Mader-Kayser highlighted the necessity for investment in new projects to sustain production going forward.

The EU reported that domestic producer prices for energy increased by 1.3% in December 2024 compared to the previous month, while they decreased by 1.4% from December 2023. This signifies a dramatic increase of 80.3% in energy prices over the period from January 2021 to December 2024. Notably, the prices for electricity and gas supply rose by 1.6% in December 2024, compared to November 2024, yet saw a slight drop of 0.4% against December 2023. Additionally, extraction prices for crude petroleum and natural gas climbed by 1.6% and 7% respectively over the same timeframe.

Taiwan's Ministry of Economic Affairs highlighted the effectiveness of energy transition policies in significantly reducing air pollution. The air pollution emissions from power generation decreased from 107,000 tons in 2016 to 37,000 tons in 2023, a reduction of 65%. The carbon emission intensity has also dropped from 0.530 kg CO2e/kWh in 2016 to a record low of 0.494 kg CO2e/kWh in 2023. These changes demonstrate that recent policies are achieving their intended environmental benefits while addressing global energy challenges.

US-based President Trump signed multiple executive orders on February 10, 2025, drastically impacting climate initiatives. These orders led to the United States' withdrawal from the Paris Agreement, termination of the Green New Deal, and removal of financial commitments to climate projects. The actions are expected to result in a 36% increase in greenhouse gas emissions by 2035 compared to previous targets and signify a shift towards promoting fossil fuels while blocking clean energy investments.

Spain-based Sidenor participated in the SCALE-UP project, an initiative funded by the Basque Government's HAZITEK program. This project aims to develop innovative methodologies to validate the reliability of large scale wind turbine components without the need for extensive testing facilities. Focused on optimizing induction hardening processes for offshore wind turbine fasteners, Sidenor integrates experimental trials and simulation models to enhance mechanical properties and durability. This effort also aligns with their commitment to reduce carbon emissions in steel production using renewable energies.

The EU's expert group on climate change policy (CCEG) is currently accepting applications from organizations to enhance the aviation formation. The CCEG aims to strengthen discussions and effectively implement the EU ETS Directive for aviation. The selected members will contribute to achieving the EU's target of reducing net greenhouse gas emissions by at least 55% by 2030. Additionally, a new support mechanism to accelerate the use of sustainable aviation fuels (SAF) has been introduced, allocating 20 million allowances worth an estimated €1.6 billion. The first meetings will begin in 2025.

Denmark's Maabjerg Biogas, a subsidiary of Skovgaard Energy, has contracted Wärtsilä to supply a biogas upgrading system. This plant will upscale biogas production, with a capacity of 6,000 Normal Cubic Metres per Hour (Nm3/h). The project will enhance biogas efficiency as a renewable energy source and is crucial for Denmark's energy strategy. The plant is set to be fully operational by Q1, 2026, meeting national gas grid standards.

India's LPG industry has been facing a significant financial crisis due to global price volatility and rising import dependence. The oil marketing companies (OMCs), including Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation, reported massive under-recoveries on LPG sales, with an estimated loss of Rs 40,000 crore in FY 2024. The Indian government is contemplating a one-time compensation ranging from Rs 18,000 to Rs 25,000 crore to ease this burden. Furthermore, to stabilize LPG subsidy financing, the government introduced the Oil Industry Development Fund (OIDF), with an allocation of Rs 17,700 crore for FY 2025 and Rs 19,300 crore for FY 2026, financed through oil cess collections.

US-based NRDC and Earthjustice have challenged President Trump's executive order that revokes protections for over 625 million acres of ocean. The lawsuit, filed in Alaska, seeks to restore safeguards against offshore oil and gas leasing established by previous administrations. These areas, which support critical marine ecosystems, are at risk from increased drilling activities. The plaintiffs argue that the legal precedent exists to reinstate these protections, ensuring the sustainability of marine environments and coastal economies.

US-based environmental groups including Coal River Mountain Watch and Sierra Club filed a lawsuit against the U.S. Army Corps of Engineers over the approval of a Clean Water Act permit for the Turkeyfoot Surface Mine in West Virginia. The mining operation, authorized to dump waste into local streams, poses significant risks to both water quality and community health. The lawsuit argues that the Corps acted arbitrarily in granting the permit, despite historical evidence showing negative environmental impacts from similar mining practices.