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BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

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After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The pandemic has created disruption in the global energy sector, but low gas prices will ultimately stimulate demand growth as the economy recovers.

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Volkswagen plans integrated mobility concept in Rwanda; vehicle production in Kenya

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In addition, possibilities of training initiatives for the local population are being investigated together with other German companies. The possibility of cooperation for the establishment of a technical academy is being investigated together with other German companies. Kenya is an opportunity market in Africa.

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Opinion: How Much Longer Can OPEC Hold Out?

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Cheap oil has created a huge financial crisis for Venezuela as its economy is heavily dependent on oil exports and oil revenues constitute about 95% of its total foreign exchange earnings. As per its state run oil company PDVSA, the country loses about $700 million a year with every $1 drop in the international oil price.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. The emergence of the U.S., This has transformed the U.S.

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Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers

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Nigeria or Algeria cannot do the same for their oil industry. Petro-states are compensated to transition smoothly to a sustainable economy, avoiding a last-ditch attempt to flood the world with cheap oil and gas. Some national oil companies go bankrupt and others consolidate into a handful of global energy giants.

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Europe moves forward on the Energy Union; transport key element

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Today, we set in motion a fundamental transition towards a low-carbon and climate-friendly economy, towards an Energy Union that puts citizens first, by offering them more affordable, secure, and sustainable energy. Europe needs to make the right choices now. research, innovation and competitiveness.