Call for a Sixfold Increase in Global Energy Storage at COP29
At the upcoming COP29 conference, participants are expected to emphasize the necessity of a sixfold increase in global energy storage capacity by 2030. This initiative is part of global efforts to combat climate change and transition to more sustainable energy sources. Experts note that with the rising share of renewable energy, particularly solar and wind, reliable energy storage technologies are becoming critically important for stabilizing energy systems.
Continue readingIMF Warns of Sharp Fall in Saudi Oil Revenues in the Coming Years
The International Monetary Fund (IMF) has issued a warning that Saudi Arabia is poised to experience a significant decline in its oil revenues throughout this decade. IMF forecasts suggest that the kingdom’s dominance in oil exports and the associated income may be jeopardized due to its persistent reliance on the hydrocarbon market. A key factor in this context is the increasingly competitive market for energy resources and the rising competition from other exporting countries.
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