Australian resource and energy exports climbed 9% to a record A$460 billion ($300 billion) in the financial year just ended, but are forecast to slide over the next two years as some energy prices have dropped back to levels last seen before Russia invaded Ukraine.
Indonesian state energy company PT Pertamina plans to begin producing bioethanol from sugarcane and cassava this year and has also begun production of green hydrogen using geothermal energy, its CEO told a conference on Wednesday.
Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry's Statistical Review of World Energy report said on Monday.
Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser said on Monday.
OPEC expects global oil demand to rise to 110 million barrels per day (bpd) and overall energy demand to rise 23% by 2045, its Secretary General Haitham Al Ghais said on Monday.