New Polish President Vetoes Wind Energy Bill For the first time since taking office a few weeks ago, Poland’s new President Karol Nawrocki used his veto power to block a bill passed by Parliament—and it was a green energy bill easing rules for building onshore wind farms but bundling it with a freeze on energy prices. “This is the first bill which I’ve decided to veto,” Nawrocki said on Thursday, as carried by Bloomberg. “It was a kind of blackmail by the parliamentary majority,” the president added. The president and his allies of the nationalist… https://oilprice.com/Latest-Energy-News/World-News/New-Polish-President-Vetoes-Wind-Energy-Bill.html

Inside Africa’s Green Energy Revolution Africa is poised for a green energy revolution. The continent is incredibly rich in clean energy resources, but the vast majority of them are untapped. At the same time, African nations are in dire need of electrification, as approximately 600 million Africans currently lack access to electricity entirely, and the population is set to boom, creating major hurdles for development.  Although African nations have contributed the least to global greenhouse gas emissions, they stand to suffer the most from the impacts of climate change. Plus, they… https://oilprice.com/Energy/Energy-General/Inside-Africas-Green-Energy-Revolution.html

Angola’s Oil Output Slips Below 1 Million Bpd in a First Since OPEC Exit Angola failed to meet government forecasts for oil production in July as its crude output slipped below 1 million barrels per day (bpd) for the first time in two and a half years and for the first time since one of Africa’s biggest oil producers quit OPEC. Angola’s oil production averaged 998,757 bpd in July, compared to the expected output of 1,073,542 bpd, data by the National Agency for Petroleum and Gas, ANPG, has shown.        Last month saw the first time since March 2023 that Angola’s oil output… https://oilprice.com/Latest-Energy-News/World-News/Angolas-Oil-Output-Slips-Below-1-Million-Bpd-in-a-First-Since-OPEC-Exit.html

Norwegian Firm Restarts Kurdistan Oil Production After Drone Strikes Norwegian oil and gas producer DNO ASA has resumed production at its two operated oilfields in Iraq’s semi-autonomous region of Kurdistan, following a halt of several weeks after drone attacks in the middle of July. DNO temporarily halted operations at its Tawke field in Kurdistan following three explosions on July 16, one involving a small storage tank at Tawke and another involving surface processing equipment at Peshkabir. At the time, the company expected to restart production once the damage assessment is completed. In a second-quarter… https://oilprice.com/Latest-Energy-News/World-News/Norwegian-Firm-Restarts-Kurdistan-Oil-Production-After-Drone-Strikes.html

Chinese Battery Maker Shuangdeng Surges 55% in Market Debut Shares of Shuangdeng Group surged in their Hong Kong debut this week, underscoring investor enthusiasm for Chinese battery makers as demand for electric vehicles and energy storage continues to climb. Trading under the ticker 6960, the stock opened at HK$22.50, a 55% premium to its issue price of HK$14.51, making it one of the most successful IPOs in the city this year. Chairman Yang Rui celebrated the listing on August 26 by striking the ceremonial gong, declaring that Shuangdeng was “lucky to be riding two tremendous waves” - artificial… https://oilprice.com/Latest-Energy-News/World-News/Chinese-Battery-Maker-Shuangdeng-Surges-55-in-Market-Debut.html

Why Model-Based Oil Forecasts Keep Missing the Mark Last week, oil traders cut their bullish bets on crude to the lowest in 16 years on expectations of a glut. Mostly because many forecasters were reporting a looming glut. Yet the moment something threatens any portion of the world’s oil supply, prices jump. So, where’s the glut? Mostly, the glut is in the forecasts published by the International Energy Agency and various net-zero organizations. The problem with these forecasts is that they often ignore data that contradicts their message that the transition to net zero is advancing.… https://oilprice.com/Energy/Crude-Oil/Why-Model-Based-Oil-Forecasts-Keep-Missing-the-Mark.html

The Real Reason Why Turkey Is Still Blocking KRG Oil There has been much excitement in recent days among those who know nothing much worth knowing about the use that the long-running ban on oil sales from the Kurdistan Region of Iraq (KRI) to Turkey may be lifted soon. Supposedly, the government of the Erbil-based semi-autonomous region of Kurdistan (the KRG) and the Baghdad-based Federal Government of Iraq (FGI) have agreed on a new mechanism for oil exports from the Kurdistan Region to the Turkish port of Ceyhan. Under the agreement, 50,000 barrels per day (bpd) will be reserved for domestic use… https://oilprice.com/Energy/Energy-General/The-Real-Reason-Why-Turkey-Is-Still-Blocking-KRG-Oil.html

Trump Slaps New Tariffs on UK Goods, Blindsiding Manufacturers Donald Trump has blindsided UK manufacturers by slapping fresh tariffs of up to 25 per cent on more than 400 categories of British goods, from shampoo and children’s highchairs to motorcycles and diggers. Conservative shadow trade secretary Andrew Griffith accused ministers of failing to protect exporters, saying: “When it comes to protecting UK businesses from US tariffs, Starmer is ‘all hat, no cattle’.” “His ‘tiny tariff’ agreement turns out to have more holes than one of Donald Trump’s golf… https://oilprice.com/Geopolitics/International/Trump-Slaps-New-Tariffs-on-UK-Goods-Blindsiding-Manufacturers.html

U.S. Power Sector Green Capex Projected to Reach $2 Trillion A team of Goldman analysts led by Brian Singer reaffirmed his bullish view on U.S. power-sector Green Capex after the IRS recently clarified eligibility rules for solar and wind tax credits under the One Big Beautiful Bill Act (OBBBA). The new "physical work" test replaces the prior 5% capex rule but is not expected to constrain utility-scale solar and onshore wind projects that much. "While the OBBBA should meaningfully reduce government outlay initially meant to stimulate diverse sources of Green Capex, we continue to see resilient levels of… https://oilprice.com/Alternative-Energy/Renewable-Energy/US-Power-Sector-Green-Capex-Projected-to-Reach-2-Trillion.html

New Permian Pipeline Project Addresses Growing Gas Demand ONEOK, Inc., MPLX LP, Whitewater, and Enbridge Inc. announced a new natural gas pipeline project to transport gas from the Permian Basin to the U.S. Gulf Coast. The Eiger Express Pipeline will be a 450-mile, 42-inch pipeline designed to transport up to 2.5 billion cubic feet per day of natural gas. The project is a joint venture between the existing Matterhorn joint venture, which comprises the four companies, and ONEOK and MPLX, which hold additional direct stakes. WhiteWater will be responsible for the construction and operation of the pipeline,… https://oilprice.com/Latest-Energy-News/World-News/New-Permian-Pipeline-Project-Addresses-Growing-Gas-Demand.html

Ørsted Shares Plummet After U.S. Offshore Wind Project Halted Shares in Ørsted tumbled to their lowest level on record on Monday as investor concerns about the world’s biggest offshore wind project developer grew following a stop-work order on a nearly completed project from the U.S. Administration.   Ørsted (CPH: ORSTED) shares in Copenhagen plummeted by 18% early on Monday after trade opened, to a record low of $27.28 (174 Danish crowns).  Ørsted’s stock has lost 46% year to date, with the biggest losses seen early this month when the company announced plans… https://oilprice.com/Latest-Energy-News/World-News/rsted-Shares-Plummet-After-US-Offshore-Wind-Project-Halted.html

Data Center Operators Rush to Secure Gas Connections in the UK Data center developers in the UK are scrambling to get their facilities hooked to gas-fired generation capacity, the Financial Times has reported, citing five such projects planned for southern England. “The national gas transmission network is ready to play a key role in facilitating this critical investment today while working in partnership with the electricity networks,” the FT quoted the chief commercial officer of National Gas as saying in comments on the news. The Starmer government has made artificial intelligence one of its… https://oilprice.com/Latest-Energy-News/World-News/Data-Center-Operators-Rush-to-Secure-Gas-Connections-in-the-UK.html

The Race to Decarbonize Steel and Cement As companies worldwide invest in decarbonisation efforts, this has been found to be easier in some industries than others. In hard-to-abate industries, such as steel and cement production, it has proved extremely difficult to reduce emissions. Meanwhile, the demand for these staple building materials is increasing in line with higher spending on infrastructure projects. So, what would it take to develop the “green cement” and “sustainable steel” industries? In 2024, the International Energy Agency (IEA) released a commentary… https://oilprice.com/Energy/Energy-General/The-Race-to-Decarbonize-Steel-and-Cement.html

Do Carbon Taxes Work? In recent years, several countries have introduced carbon taxes as a way of making consumers change their habits to support a green transition. However, it remains unclear whether carbon taxation and rebates can have a lasting impact on the reduction of greenhouse gas (GHG) emissions and consumer spending. Austria introduced a range of carbon taxes aimed at encouraging consumer decarbonisation. In the Austrian model, the money raised from the tax gets returned directly to taxpayers. This was aimed and encouraging higher levels of public spending… https://oilprice.com/Energy/Energy-General/Do-Carbon-Taxes-Work.html