The German leading utility company RWE and Norwegian oil and gas firm Equinor have decided to join forces in an initial phase of a Dutch initiative to make “green” hydrogen by using offshore wind power.

Crude prices were under pressure as oil demand fell amid further lockdowns emerged across the globe. Top consumers shun the market as crude inventories stayed at record highs.

A Russian pipe-laying ship sailed into position Saturday to resume construction of a German-Russian gas pipeline in the Baltic Sea that the United States has vehemently opposed.

Italy’s Eni has said would acquire a 20% stake in the project known as Dogger Bank Wind Farm development. The seller will be Norway’s Equinor and Britain’s SSE and the value of the transaction is estimated at a combined 545 million dollars, the companies said, quoted by Reuters.

The OPEC organization plus allied countries including Russia have agreed to raise oil production by 500,000 barrels per day effective from from January and further noted they would hold monthly meetings to clarify further raise of output levels, gently adding more crude to a global economy still suffering from the Covid-19 pandemic.

OPEC+ members will consider whether to extend existing oil cuts for three to four months or to gradually increase output from January during their two days of talks that start on Monday, OPEC+ sources told Reuters.

OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year.

Lithuania halted electricity trade with Belarus on Tuesday after the neighbouring country connected Astravyets nuclear power plant to its energy system, news wires reported.

Lithuania sent a protest note on Tuesday to Belarus over a planned nuclear power plant close to their border that is scheduled to start operating next month, news wires reported.

A slow economic recovery from the pandemic threatens to delay a full rebound in world energy demand to 2025, the International Energy Agency said on Tuesday.