Tag: G7

US Energy Secretary sees oil supply, demand rebalancing in a year

US Energy Secretary sees oil supply, demand rebalancing in a year

US Energy Secretary says “we continue to have a very very large inventory of oil” By Osamu Tsukimori KITAKYUSHU, Japan, May 2 (Reuters) – US Energy Secretary Ernest Moniz said he expects global oil supply and demand to rebalance in about a year’s time. Benchmark crude oil prices , which hit almost 13-year lows earlier in 2016, […]

Japan aiming to set up LNG trading hub by early 2020s

Japan aiming to set up LNG trading hub by early 2020s

G7 ministers support LNG trading hub By Osamu Tsukimori KITAKYUSHU, Japan, May 2 (Reuters) – Japan aims to become an international LNG trading hub by the early 2020s, the world’s biggest importer of the fuel announced on Monday as part of a message delivered to the energy ministers of G7 industrial nations. In an attempt […]

G7 leaders call for ending fossil fuel use by end of century

G7 leaders call for ending fossil fuel use by end of century

G7 leaders commit to decarbonizing the global economy during this century German Chancellor Angela Merkel says the Group of Seven wealthy democracies have agreed that the world should phase out the use of fossil fuels by the end of this century. Merkel said today that the G-7 leaders committed themselves to the need to “decarbonize […]