The first trilateral negotiations between Russia, Ukraine, and the US since early this year produced a measured humanitarian breakthrough, but little tangible progress toward ending the war. The two days of talks in Abu Dhabi on November 10 -11 reached an agreement in principle on a large-scale prisoner exchange and opened discussions on broader European security arrangements. But the sides appear to be no closer to peace than they were 48 hours earlier. "The fundamental obstacle to ending this war is that neither belligerent currently sees an…

Angola has accelerated efforts to diversify its economy away from heavy dependence on oil by using this year’s windfall oil revenues to fund reforms and investments in transport corridors, minerals, banking, and tourism industries, according to Citigroup.   “We’re definitely seeing a lot of activity and it has the benefit of longer-term political stability, economic stability, which is making it more attractive for foreign direct investment, infrastructure projects, and other longer-term investment,” Citi’s…

Angola has accelerated efforts to diversify its economy away from heavy dependence on oil by using this year’s windfall oil revenues to fund reforms and investments in transport corridors, minerals, banking, and tourism industries, according to Citigroup.   “We’re definitely seeing a lot of activity and it has the benefit of longer-term political stability, economic stability, which is making it more attractive for foreign direct investment, infrastructure projects, and other longer-term investment,” Citi’s…

Turkey and the Asian Infrastructure Investment Bank (AIIB) on Thursday agreed on a $1.6-billion climate financing package to support Turkey’s climate goals in the biggest climate-focused deal of the Asian bank to date.  The deal was announced in Antalya, where Turkey is hosting the COP31 global climate summit until November 20.    Under the agreement, AIIB founding member Turkey will access a Climate-Focused Policy-Based Financing (CPBF) loan for the Türkiye Climate Action Acceleration Program (TCAAP) with supplemental…

Situated off California’s Santa Barbara coast, the Santa Ynez project operated by Sable Offshore has become a litmus test of President Trump’s determination to revive oil production in a state pursuing a future beyond it. After a decade of shutdowns, its return depended on the Trump administration’s intervention in a prolonged regulatory battle. Originally developed by ExxonMobil, the Santa Ynez complex comprises the Hondo, Harmony and Heritage platforms and their associated onshore infrastructure. Its troubles began in May 2015,…

Utilities built a total of over 21,000 km of new transmission lines last year, the International Renewable Energy Agency reported this week at COP31, citing data from a group called the Utilities for Net Zero Alliance. This is 50% more than the new transmission lines installed during the previous year, IRENA noted in its report. “Power grids will make or break not only the energy transition but also the world’s ambition to raise global electrification to 35% by 2035, as championed by the Turkish COP31 Presidency,” said the director-general…

The race to build the world’s first commercial fusion power plant has moved out of the physics lab and onto the factory floor. Private investors poured a record $4.48 billion into fusion last year, a 69% jump, bringing the industry’s total since 2021 to $14.24 billion. According to the Fusion Industry Association, 71% of the 56 private fusion companies it surveyed expect to deliver power to the grid by the 2030s.  The front-runners already have buyers, with Washington-based Helion signing a power purchase agreement with Microsoft…

Can quantum computing save artificial intelligence from itself? The energy and water needs of the AI sector are growing larger all the time, placing enormous pressure on the world’s finite resources and putting unprecedented strain on global energy grids. There is no closing Pandora’s box: AI is here to stay. So how do we change its functionality to keep its operations and growth projections within planetary boundaries? Some experts say that quantum computing could hold the key.  According to figures from the International Energy…

China bought itself two more months on Monday by extending the pause on its sweeping October 2025 rare earth export controls to Jan. 10, Reuters reported, but the metal squeezing buyers hardest right now was never covered by it. That metal is yttrium, which sits under a separate set of licensing rules Beijing imposed in April 2025 on seven medium and heavy rare earths. When the pause began last November, the law firm Pillsbury listed those April rules among the measures still in force, which makes the extension a cheap gift: the October measures…

Andy Burnham will face difficult decisions on energy policy against the competing pressures of sky-high industrial costs and Labour’s net zero commitments. Mauricio Alencar looks at the trade-offs facing the government before the Prime Minister’s COP 31 visit. While it didn’t make the headlines, Chancellor John Healey’s Budget speech signalled a huge shift in positioning from previous governments over net zero.  “Today I’m setting a new course on energy: to get UK energy costs down in line with Europe,”…

Pro-Palestinian activists who pressured Eni and Dana Petroleum to quit an Israeli offshore gas venture are now going after Murphy Oil, the Houston-based company that replaced them on Monday. The Boycott, Divestment and Sanctions movement and its partners called on Murphy on Wednesday to give up the six Zone G exploration licenses it holds 50-50 with Israel’s Ratio Energies. The licenses cover about 1,700 square kilometers of seabed near the Leviathan gas field, and Murphy is the operator. Israel awarded Zone G in October 2023 to Eni, Ratio…

Pro-Palestinian activists who pressured Eni and Dana Petroleum to quit an Israeli offshore gas venture are now going after Murphy Oil, the Houston-based company that replaced them on Monday. The Boycott, Divestment and Sanctions movement and its partners called on Murphy on Wednesday to give up the six Zone G exploration licenses it holds 50-50 with Israel’s Ratio Energies. The licenses cover about 1,700 square kilometers of seabed near the Leviathan gas field, and Murphy is the operator. Israel awarded Zone G in October 2023 to Eni, Ratio…

Pro-Palestinian activists who pressured Eni and Dana Petroleum to quit an Israeli offshore gas venture are now going after Murphy Oil, the Houston-based company that replaced them on Monday. The Boycott, Divestment and Sanctions movement and its partners called on Murphy on Wednesday to give up the six Zone G exploration licenses it holds 50-50 with Israel’s Ratio Energies. The licenses cover about 1,700 square kilometers of seabed near the Leviathan gas field, and Murphy is the operator. Israel awarded Zone G in October 2023 to Eni, Ratio…

China and Central Asia are acting fast to expand air links. Chinese and Central Asian aviation officials gathered in Tashkent on November 3-5 for a Working Group session under the C5+1 format to improve implementation of existing agreements and review expansion plans. During the meeting, Kazakhstan agreed to raise permitted weekly flights from 150 to 180 and add routes to Chengdu and Kashgar. Uzbekistan, meanwhile, agreed to increase the number of weekly flights to China from 100 to 114. Uzbekistan also proposed establishing new routes connecting…

U.S. Energy Secretary Chris Wright called Vitol gasoline trader John Addison, an early financial backer of Vice President JD Vance, on January 5, two days after the U.S. operation that removed Nicolás Maduro, and asked whether Vitol wanted to sell Venezuela’s crude, Reuters reported on Wednesday. Within days, Vitol and Trafigura received special licenses to market Venezuelan oil. The administration skipped competitive bidding, citing the need to move fast to stabilize Venezuela’s economy. Addison gave $300,000 in 2022 to a political…

The story in the Strait of Hormuz has been that Middle Eastern crude exports have recovered to about 80% to 85% of pre-war levels, including pipeline shipments, while refined-product exports remain muted. The uneven recovery shows how Gulf producers prioritize crude oil shipments over refined products as the Hormuz chokepoint remains vulnerable despite encouraging diplomatic signals.  Fereidun Fesharaki, chairman emeritus of industry consultant FGE NexantECA, said last week that while Middle Eastern crude exports, including pipeline shipments,…

European benchmark natural gas prices rebounded on Wednesday from the one-month low hit on Tuesday, as uncertainty about the Iran war returned to the energy markets following steep selloffs in recent days.  The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, rose by 2.7% as of 9:30 a.m. in Amsterdam on Wednesday, topping $96.85 (87 euros) per megawatt-hour (MWh).   Prices rebounded from the one-month low of $91.30 (82 euros) per MWh from earlier this week, when the oil and…

Gas-fired projects secured all 5.16 gigawatts (GW) of derated capacity in Germany's first capacity auction, with more than half going to developments at existing coal sites. The results show how the search for dependable backup power is giving established generators an advantage, while batteries missed out entirely. Derated capacity is adjusted to reflect each project's expected contribution to security of supply. As coal generation is being phased out and renewable capacity expands, Germany needs reliable backup power during prolonged periods…

Brent crude rose nearly 3% on Wednesday to $93.90per barrel at 11:18 a.m. ET, more than doubling its 1.4% gain at 9:27 a.m., as Iran denied it is negotiating with Washington and analysts saw no near-term end to the war. WTI rose nearly 2% to $87.98, and heating oil, the U.S. diesel benchmark, jumped 4.1%. The gains came as Saudi Arabia reported October output near pre-war levels. Since the start of November, Brent had lost about 21% and WTI about 17% on bets that the war was winding down. Iran’s top security official, Mohsen Rezaei, denied…

Brent crude rose nearly 3% on Wednesday to $93.90per barrel at 11:18 a.m. ET, more than doubling its 1.4% gain at 9:27 a.m., as Iran denied it is negotiating with Washington and analysts saw no near-term end to the war. WTI rose nearly 2% to $87.98, and heating oil, the U.S. diesel benchmark, jumped 4.1%. The gains came as Saudi Arabia reported October output near pre-war levels. Since the start of November, Brent had lost about 21% and WTI about 17% on bets that the war was winding down. Iran’s top security official, Mohsen Rezaei, denied…