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- Briefing: intensive diplomatic efforts around the Armenia-Azerbaijan peace process
- EU interior ministers reach "historic" agreement on migration, but significant opposition remains
- Opinion: we may still be far from an Armenia-Azerbaijan peace treaty
- First Astana International Forum taking place in Kazakhstan on 8-9 June
- 600 square kilometres of southern Ukraine flooded after dam collapse
- Opinion: the future will show whether May 2023 was a breakthrough or another missed chance
Theme
Energy
Stories related to everything energy – from fossil fuels to renewables.
Oil prices rise as OPEC+ announces output cuts after Vienna meeting
patrickn97
Tue, 04/11/2023 - 10:11
The group of oil producing countries, OPEC+, has pledged oil output cuts amid flagging global oil prices.
Following the announcement made on Sunday (4 June) after a meeting of OPEC+ in Vienna, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel in Asia trading on Monday.
In accordance with the agreement struck, Saudi Arabia announced that they would cut daily barrel production from 10 million barrels per day (bpd) to 9 million bpd in July, as well as extending their volunatary cut in oil production of 500,000 bpd until December 2024.
Russia's 2023 quota currently stands at around 10.5 million bpd, but in 2024 will reduce to approximately 9.3 million bpd, consisting of a reduction of 650,000 barrels per day as well as the voluntary cut of 500,000 bpd.
Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel. Global oil prices spiked following Russia's full-scale invasion of Ukraine in February 2022. Since then, however, prices have fallen to pre-February 2022 levels. In an attempt to shore up global oil markets, OPEC+ have announced a couple of rounds of cuts in oil production.
In October 2022, OPEC+ agreed to cut production by two million bpd, about 2% of global demand.
patrickn97
Mon, 06/05/2023 - 08:49
Macron to visit the Netherlands to push for EU Net-Zero investment plan
The French President Emmanuel Macron, alongside economic and political stakeholders, is visiting the Netherlands on Tuesday (11 April) to push for a huge EU investment plan in line with the Commission’s Net-Zero Industry Act.
Accompanied by eight ministers and business representatives, including the CEOs of Engie and Air France/KLM, Macron will visit Amsterdam and The Hague under the banner of "European sovereignty in its economic and industrial dimension", according to the Élysée Palace.
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Oil prices rise as OPEC+ announces output cuts after Vienna meeting
The group of oil producing countries, OPEC+, has pledged oil output cuts amid flagging global oil prices.
Following the announcement made on Sunday (4 June) after a meeting of OPEC+ in Vienna, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel in Asia trading on Monday.
In accordance with the agreement struck, Saudi Arabia announced that they would cut daily barrel production from 10 million barrels per day (bpd) to 9 million bpd in July, as well as extending their volunatary cut in oil production of 500,000 bpd until December 2024.
Russia's 2023 quota currently stands at around 10.5 million bpd, but in 2024 will reduce to approximately 9.3 million bpd, consisting of a reduction of 650,000 barrels per day as well as the voluntary cut of 500,000 bpd.
Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel. Global oil prices spiked following Russia's full-scale invasion of Ukraine in February 2022. Since then, however, prices have fallen to pre-February 2022 levels. In an attempt to shore up global oil markets, OPEC+ have announced a couple of rounds of cuts in oil production.
In October 2022, OPEC+ agreed to cut production by two million bpd, about 2% of global demand.
patrickn97
Mon, 06/05/2023 - 08:49
Macron to visit the Netherlands to push for EU Net-Zero investment plan
patrickn97
Tue, 04/11/2023 - 10:11
The French President Emmanuel Macron, alongside economic and political stakeholders, is visiting the Netherlands on Tuesday (11 April) to push for a huge EU investment plan in line with the Commission’s Net-Zero Industry Act.
Accompanied by eight ministers and business representatives, including the CEOs of Engie and Air France/KLM, Macron will visit Amsterdam and The Hague under the banner of "European sovereignty in its economic and industrial dimension", according to the Élysée Palace.
Opinion: Armenia should be part of the South Caucasus-EU energy relationship
Economic projects can help the normalisation Armenia-Azerbaijan relations, but this should also include co-operation at the regional level, says Benyamin Poghosyan in this op-ed for commonspace.eu. He adds, "Armenia has strong potential to become an exporter of renewable energy to the EU. The participation of Armenia in the Black Sea Energy submarine cable project will contribute to the country’s economic development. It will boost regional economic cooperation, which is much needed to foster stability and security in the South Caucasus. It will strengthen the EU’s position and role in the region and is fully in line with overall EU strategy toward the South Caucasus".
dennis2020
Wed, 04/05/2023 - 11:43
Surprise OPEC oil production cut pushes global prices up
patrickn97
Mon, 04/03/2023 - 14:24
Global oil prices have soared after a surprise announcment by several key oil-producing states on Sunday (2 April) that they would cut production by as much as one million barrels per day.
Saudi Arabia, Iraq and several Gulf states all announced that they would cut production by more than one million barrels per day, while Russia also said it would extend its cut of half a million barrels per day until the end of the year.
Chained to the dead? Turkmenistan’s energy and connectivity partnership with Russia
patrickn97
Mon, 03/20/2023 - 06:56
"In the new realities of Central Asia, Turkmenistan is and will be a pivotal player in regional energy and connectivity politics," writes Mahammad Mammadov for commonspace.eu. "It gives Ashgabat many opportunities to build linkages to different power centers and increase its clout in regional affairs. So far, Berdimuhamedov’s government has pursued an “engaged neutrality” policy to reap the benefits of regional openings while maintaining regime security at home."
Kazakh and Azerbaijani leaders visit UAE for Abu Dhabi sustainability summit
patrickn97
Tue, 01/17/2023 - 11:02
The Presidents of Kazakhstan and Azerbaijan, Kassym-Jomart Tokayev and Ilham Aliyev, have both addressed the opening ceremony of the Abu Dhabi Sustainability Week summit as the UAE leads up to COP28 later this year.
In his speech on Monday (16 January), President Tokayev of Kazakhstan spoke about his country's commitment to achieving climate neutrality.
Opinion: Azerbaijan is intensively engaged in new projects that aim to contribute to energy security, especially in Eastern Europe
Over the last month, the diplomatic traffic between Azerbaijan and the Eastern European countries has intensified in a remarkable way. The mutual high-level visits between Albania and Azerbaijan, as well as between Serbia and Azerbaijan in a short period of time over the last few months were a sign of the sides’ interest in bilateral cooperation in various fields, particularly in the field of energy. Azerbaijan is also involved in projects with the countries of the region within multilateral formats together with the European Union (EU). In this context, two major agreements signed this year provide a good basis for this cooperation both in the imports of natural gas and importantly green energy, writes Vasif Huseynov in this op-ed for commonspace.eu. These developments in the relations between Azerbaijan and the Eastern European countries brings with it also geopolitical approximation between the sides. As President Aliyev stated following the signing of the electricity deal in Bucharest, Azerbaijan’s contribution to European energy security creates an important bridge between the EU and Azerbaijan. The bridge between the two shores of the Black Sea forms a larger security architecture which increase the resilience of the regional countries in the face of national security challenges they face.
dennis2020
Mon, 12/26/2022 - 10:59
Azerbaijan, Hungary, Romania, and Georgia agree on project for a new electricity cable under the Black Sea
Maximiliaan va…
Sun, 12/18/2022 - 00:30
On Saturday (17 December) at a meeting in Bucharest, the leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement to construct a new underwater electric cable through the Black Sea, connecting the South Caucasus region to the European Union. The cable will provide Europe with Azerbaijani energy.
Germany opens first floating liquid natural gas terminal
Maximiliaan va…
Sun, 12/18/2022 - 00:10
German Chancellor Olaf Scholz and other ministers inaugurated on Saturday morning (17 December) the country's first liquid natural gas (LNG) terminal in Wilhelmshaven in northern Germany, a project expected to supply around 6% of the country's energy demand. At the inauguration, Scholz stated that the rapid completion of the plant demonstrates that Germany's powerful economy will remain resilient in the face of the energy crisis compounded by the conflict in Ukraine.