State-owned Mexican oil company Pemex plans to halt oil exports in 2023, CEO Octavio Romero Oropeza, quoted by the company’s press service, said during a presentation of Pemex’s plan to improve its position.
Installed capacity of energy storage devices in the United States will rise by 4.5 GW by the end of 2021, according to the latest forecast issued by the Energy Information Administration of the U.S. Department of Energy. Total capacity will reach 6 GW – four times the level recorded at the end of 2020 – 1.5 GW.
The United States is asking OPEC+ countries to increase oil output while itself pursuing a deliberate policy of holding back its own production of shale oil. As a result, contradictory trends are now affecting markets, Russian Deputy Prime Minister Alexander Novak said
Japan is to sell at auction 629,000 barrels of oil from strategic reserves, Reuters news agency reported, quoting Japan’s Economy, Trade and Industry Ministry. The oil will be supplied to the auction winner from its Shibushi tank in the south of the country in the period from 20th March to 30th June.
Chinese oil consumption will peak by 2030, when demand will amount to 780 million tonnes, Reuters news agency reported, quoting the latest forecast from the China National Petroleum Company’s (CNPC) research arm, the Economics and Technology Research Institute (ETRI). A year earlier, the ETRI forecast that the peak would come in 2025 with its level amounting to 730 million tonnes.
Indian Prime Minister Narendra Modi announced the start of four hydropower projects on 27th December, the Indian Express newspaper reported. These include the Renukaji dam and the Luhri, Dhaulasidh and Sawra-Kuddu hydropower stations with a capacity of 210 MW, 66 MW and 111 MW respectively.
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