World resource extraction could surge 60 percent by 2060, UN warns

• The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
• Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.

China discovers world’s largest metamorphic rock oilfield in Bohai Sea

• The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
• It has been anticipated that the average daily oil production will surpass 390 cubic meters.

Qatar to ramp up gas output with new mega field expansion

• The expansion, will add a further 16 million tons of LNG per year to existing expansion plans
• Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia

Price of natural gas in Europe falls to a 3-year low

• Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union.
• Gas prices soared in 2022 and into 2023 as Russia's invasion of Ukraine made EU countries limit consumption and diversify their sources of supply.

GCC, OPEC boost ties to stabilize global oil markets

• GCC commits to global oil market stability through OPEC cooperation, says GCC Secretary General Jasem Mohamed Albudaiwi.
• OPEC predicts strong oil demand growth in 2024, led by economic activity in China and air travel recovery.

Europe’s gas demand at 10-year low, to peak in 2025: report

• IEEFA said that European gas demand has declined by 20% since the start of the Russian invasion
• IEEFA noted that rush to build LNG terminals was continuing despite imports holding steady

Dutch court upholds $50bn payment award in Yukos case

• The Amsterdam Appeals Court turned down a claim by Moscow that shareholders had "committed fraud" during the arbitration process.
• In 2014 the international Permanent Court of Arbitration (PCA) in The Hague ruled in favor of shareholders,

WEF24: Pragmatic actions to help in carbon neutrality

• Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact Partners tells TRENDS.
• He stresses the need for concrete action, emphasizing the importance of pragmatic strategies and sustained investment to overcome the challenges of climate finance.

Qatar minister urges Gaza ceasefire to end Red Sea insecurity

• Many companies have chosen to divert their vessels to avoid the Red Sea
• US and UK strikes on Houthi targets have failed to halt the rebel attacks

Roadmap out for environmental education, sustainable development at WEEC2024