EBRD Unveils €1 Billion Emergency Coronavirus Financing Package

The EBRD has unveiled an emergency €1 billion “Solidarity Package” of measures to help companies across its regions deal with the impact of the coronavirus pandemic. This is an initial response to the crisis and the Bank stands ready to do more if and when needed. The proposals were approved …

World Energy Outlook 2019 Highlights Deep Disparities in the Global Energy System

Deep disparities define today’s energy world. The dissonance between well-supplied oil markets and growing geopolitical tensions and uncertainties. The gap between the ever-higher amounts of greenhouse gas emissions being produced and the insufficiency of stated policies to curb those emissions in line with international climate targets. The gap between the …

Norway Approves Extension to Giant Oil Field

Authorities in Norway have formally approved the development and operation of the second phase of the giant Johan Sverdrup oil field. Developer Equinor says the extension to the field, with planned start-up in 2022, will increase production from 440,000 barrels of oil per day to 660,000 barrels per day. Johan …

Could US Overtake Saudi Arabia as World’s Top Oil Exporter?

The US will start exporting more oil than Russia and could potentially overtake Saudi Arabia as the world’s top exporter in the next five years. The forecast from the International Energy Agency (IEA) comes after a “spectacular growth” of 2.2 million barrels per day (mb/d) of oil in the US …

Active Competition Policy Key to Mexico’s Successful Energy Reform

Mexico embarked on an ambitious and comprehensive energy sector reform in recent years to harness market forces and attract new investments, moving away from its monopoly-driven system, and leading to increasing market transparency, improved energy security and strengthened environmental sustainability. The energy reform process initiated in 2013 ended the country’s …