EU Needs to Raise 2030 Emission Reduction Target to 55%

EU Needs to Raise 2030 Emission Reduction Target to 55%

EU needs to raise the 2030 emissions reduction target from 40 percent to 55 percent compared to 1990 levels in order to reach net-zero greenhouse gas (GHG) emissions by 2050, the European Parliament announced on Wednesday.

 Shell Transfers to Repsol 20% of Oil and Gas Exploration Rights in Han Kubrat Offshore Bulgaria

Shell Transfers to Repsol 20% of Oil and Gas Exploration Rights in Han Kubrat Offshore Bulgaria

The Council of Ministers has authorized Shell International Exploitation and Development Italy S.A. to transfer 20% of oil and gas exploration rights to Block 1-14 Kubrat to Repsol Bulgaria Khan Kubrat SA. The possibility of transferring the rights and obligations under granted permit for prospecting and exploration is regulated in the Underground Natural Resources Act.

26 European Islands Launch Clean Energy Transition

26 European Islands Launch Clean Energy Transition

The European Commission (EC) will support the transition of 26 islands in the EU to clean energy, many of which currently depend on expensive fossil fuel imports for their energy supply, the EC announced on Monday.

Turkey to Invest $23 Million for Turkstream in 2019

Turkey to Invest $23 Million for Turkstream in 2019

Turkey plans to invest 122 million Turkish Liras in 2019, equivalent to around $23 million, for the land section on Turkish soil of the TurkStream natural gas pipeline, according to the government's 2019 investment plan released on Monday.

Turkish Wind Market Grows 7 Percent in 2018

Turkish Wind Market Grows 7 Percent in 2018

The Turkish wind energy sector grew 7.24 percent in 2018, the president of the Turkish Wind Energy Association said Monday.

Turkey's State Energy Expenditure up 15.3% in 2019

Turkey's State Energy Expenditure up 15.3% in 2019

Turkey approved a 15.3 percent annual increase in public expenditure in its energy and mining sectors in 2019, the country's Official Gazette announced Monday.

EU to Promote Euro Over Dollar in Energy Trade

EU to Promote Euro Over Dollar in Energy Trade

The European Union (EU) has agreed to gather a comprehensive industrial group together in an effort to break the monopoly of the U.S. dollar in energy trading and promote the euro, according to international media outlets on Wednesday.

Turkey's Wind Energy Sector Grows 7.24 Percent in 2018

Turkey's Wind Energy Sector Grows 7.24 Percent in 2018

Turkey invested $650 million to wind energy sector and added 457 megawatts (MW) of installed capacity in 2018, Turkish Wind Energy Association (TUREB) data showed on Tuesday.

Global Oil Supply Falls in Jan. '19: OPEC

Global Oil Supply Falls in Jan. '19: OPEC

Global oil supply decreased month-on-month in January by 1.03 million barrels per day (mb/d) to average 99.32 mb/d, preliminary data of the Organization of the Petroleum Exporting Countries (OPEC) showed on Tuesday.

Africa, Middle East Onshore Wind Boosts by 45% in 2018

Africa, Middle East Onshore Wind Boosts by 45% in 2018

Global Wind Energy Council (GWEC) data on Monday showed that Africa and the Middle East installed 962 megawatts (MW) of onshore wind power capacity in 2018, an increase of more than 300 MW compared to 2017.

US Electricity Mix to Highly Depend on Gas Prices: EIA

US Electricity Mix to Highly Depend on Gas Prices: EIA

The U.S.' electricity generation mix will depend highly on natural gas prices in the future, the U.S.' Energy Information Administration (EIA) said in a statement on Wednesday.