The UK's cost to meet its ambitious net-zero and clean power goals is a massive $667 billion, or £500 billion, which would be heavily front-loaded capital expenditure that will hurt businesses and bill payers, according to trade association Energy Industries Council. Estimates from the Climate Change Committee (CCC) and the Confederation of British Industry (CBI) suggest that the necessary energy and energy infrastructure projects, including renewable energy, grid, and transmission upgrades and expansions, would cost £500-600 billion,…

Pakistan has approved and operationalized new land routes to connect Central Asian markets to Pakistani ports and beyond, utilizing strategic corridors through Iran and China to bypass Afghanistan entirely. This shift was solidified in April 2026 when Pakistan Customs launched the first export consignment from the Karachi Export Processing Zone to Kyrgyzstan via the Sost Dry Port in China under the TIR (Transports Internationaux Routiers) regime. Pakistan’s decision to diversify transit away from Afghanistan follows the indefinite closure…

Power demand in India is expected to rise by about 6% every year over the next four-five years, with growth supported by renewable energy capacity additions, brokerage Centrum Institutional Research said in a report on the Indian power sector. “Power demand is expected to grow at 6% pa as we expect renewable capacity additions to continue in the range 45-50 GW per year over next 4-5 years,” Indian media quoted the report as saying. During April and May, the first two months of the 2026/2027 fiscal year, India installed 6.8 gigawatts…

Power demand in India is expected to rise by about 6% every year over the next four-five years, with growth supported by renewable energy capacity additions, brokerage Centrum Institutional Research said in a report on the Indian power sector. “Power demand is expected to grow at 6% pa as we expect renewable capacity additions to continue in the range 45-50 GW per year over next 4-5 years,” Indian media quoted the report as saying. During April and May, the first two months of the 2026/2027 fiscal year, India installed 6.8 gigawatts…

Power demand in India is expected to rise by about 6% every year over the next four-five years, with growth supported by renewable energy capacity additions, brokerage Centrum Institutional Research said in a report on the Indian power sector. “Power demand is expected to grow at 6% pa as we expect renewable capacity additions to continue in the range 45-50 GW per year over next 4-5 years,” Indian media quoted the report as saying. During April and May, the first two months of the 2026/2027 fiscal year, India installed 6.8 gigawatts…

For decades, Iran has relied on the Strait of Hormuz as its most effective geopolitical weapon -- a crucial energy chokepoint through which up to a third of the world’s oil is transported and about a fifth of its liquefied natural gas (LNG). Tehran’s immediate blockade of the transit route at the onset of the 28 February U.S./Israeli joint military operation against Iran prompted a cessation of maritime traffic through the chokepoint, catalysing a spike in oil prices of over 70%. The prospect of such a blockade continuing into the U.S.’s…

Up to 75% of the previous oil flows through the Strait of Hormuz are expected to return to the market by the end of the year, but significantly lower oil prices aren’t guaranteed for 2027 as the ongoing U.S.-Iran tensions are unlikely to be resolved for good soon, Fereidun Fesharaki, chairman emeritus of FGE NexantECA, told CNBC on Monday. Before the Iran war, the consultancy FGE NexantECA expected oil prices to be in the upper $50s low $60s per barrel next year. This could still be the case in 2027, but it rests on the assumption that a…

Up to 75% of the previous oil flows through the Strait of Hormuz are expected to return to the market by the end of the year, but significantly lower oil prices aren’t guaranteed for 2027 as the ongoing U.S.-Iran tensions are unlikely to be resolved for good soon, Fereidun Fesharaki, chairman emeritus of FGE NexantECA, told CNBC on Monday. Before the Iran war, the consultancy FGE NexantECA expected oil prices to be in the upper $50s low $60s per barrel next year. This could still be the case in 2027, but it rests on the assumption that a…

US President Donald Trump will meet Ukrainian leader Volodymyr Zelenskyy on the sidelines of this week's NATO summit in Ankara, the White House announced on July 5, as Washington seeks to revive stalled diplomacy over Russia's war while pressing Europe to take greater responsibility for the continent's defense. The announcement came a day after Trump held separate telephone conversations with Zelenskyy and Russian President Vladimir Putin, underscoring the administration's effort to position itself as the key mediator in a conflict that has entered…

South Korean prosecutors have charged all four refiners in the country with collusion on fuel prices that resulted in $17 billion in harm, Reuters has reported, citing the Korean authorities. According to a media briefing by the lead prosecutor in the case, two refiners had coordinated on the size and timing of fuel price increases after the war between the United States and Israel, and Iran broke out at the end of February. In addition to the companies, the prosecutors also charged four employees individually. The participating companies were…

For most of modern history, oil was the world’s most valuable resource. It powered industrial growth, decided wars, reshaped geopolitics, and created the largest corporations in history.  Then oil lost its crown. Data replaced it as the world’s dominant asset. The companies that learned to collect, process, and monetize information - Apple, Google, Amazon, Microsoft - became the most valuable enterprises the world had ever seen.  But that era is now over. Data has become abundant, and the world’s most powerful companies…

Fly into Abilene, Amarillo or Midland this year and you'll see the buildout before you land: cranes over half-finished turbine halls, miles of freshly trenched pipeline right-of-way, and fenced-off scrubland that a year ago grew nothing but mesquite and cotton. Texas has become the epicenter of America's AI data center boom, and unlike a lot of things AI, the money behind it is already spent, not just promised. ERCOT, the grid operator that runs most of the state's power market, now projects electricity demand could approach 368 gigawatts by 2032,…

U.S. natural gas prices are set to rise through 2035, following a decade of low Henry Hub prices, as the AI data center boom and the expansion of U.S. LNG export infrastructure will underpin strong demand, analysts at Wood Mackenzie say.  During the decade to 2025, the benchmark U.S. Henry Hub prices remained in a narrow range of between $2 per million British thermal units (MMBtu) $4 per MMBtu, thanks to the surge in U.S. gas production as operators invested in standalone gas plays and boosted associated gas production from oil plays. Well…

With Kier Starmer stepping down as the United Kingdom’s Prime Minister (PM), it looks increasingly likely that Andy Burnham, who is known as the “King of the North”, will take his place as the leader of the Labour Party and PM in July. The Member of Parliament for the northern English constituency of Makerfield has significant political experience, having served as Mayor of Greater Manchester, but what are his plans for British energy? Burnham has a long history in politics, serving as Shadow Home Secretary under the former Labour…

Many countries across Europe have experienced the hottest June on record, as heatwaves sweep the region. Countries in Northern Europe that are not used to weeks of 30°C-plus heat are suffering due to a lack of air conditioning and buildings ill-prepared for such heat. Over 1,300 people died during the June heatwaves, according to the World Health Organisation (WHO), demonstrating the severity of the issue. Now, a recent study shows that climate change, as suspected, is to blame for the high temperatures. Recent studies show that human-caused…

For two years, the European Union has been the biggest regional buyer of U.S. liquefied natural gas. Sanctions on Russia, including a ban on LNG purchased from 2027, have prompted the pivot, actively encouraged by the second Trump administration. But last month, Europe shunned American liquefied gas because it was too expensive. This will be a problem for the trade deal that just went into effect. Last July, President Donald Trump and European Commission President Ursula von der Leyen signed a trade deal framework that would ensure preferential…

The largest data center project ever proposed in the U.S. is officially dead. Blackstone-owned QTS Realty Trust withdrew its appeal to the Virginia Supreme Court on July 2, closing out a three-year legal fight over the Prince William Digital Gateway, a planned 2,100-acre campus in Prince William County, Virginia that would have packed 37 buildings and 22 million square feet of data centers next to Manassas National Battlefield Park. At full build-out, the project carried an estimated $100 billion price tag and would have been the largest data center…

Interest in developing biofuels has fluctuated and has been strongly driven by global energy trends. In 2024, following the COVID-19 pandemic, the international call for a green transition, and the increased focus on developing cleaner fuels to decarbonise hard-to-abate industries, interest in biofuels grew. Biofuels were expected to play a major role in the global green transition by helping to decarbonise industries that could not simply shift to renewable electricity, such as aviation. However, this interest waned in 2025, as several companies…

There has been significant back-and-forth on offshore wind power in the United States. As part of ambitious plans for a green transition, the former Biden administration strongly supported offshore wind with both policy and federal funding. However, the Trump administration has since backtracked on U.S. wind energy goals, with President Trump openly opposing offshore wind. However, with greater political pushback from Congress and federal judges, it appears that progress on wind energy is hard to halt.  Since taking office last year, President…

For a decade, Colombia's economically vital oil industry has been caught in a death spiral. A combination of sharply weaker oil prices, rising geopolitical risk and anti-petroleum industry reforms implemented by Colombia's first leftist president Gustavo Petro deterred investment, causing the operational tempo to decline. The main issue weighing heavily on the oil patch's outlook is a dire lack of proven petroleum reserves. These are the result of a lack of spending on wildcat drilling and a poor exploration success rate. After a lengthy delay,…