Global Energy Outlook

The Pakistani Ministry of Finance has announced a 7.8% increase in gasoline and diesel prices after sharp increases in the price of fuel in the international market over the last 15 days, with Brent crude oil prices rising by 16% in July. The new oil product prices should have an immediate effect, raising by the price of gasoline PKR19.95/l (US$6.95c/l) to PKR272.95/l (US$95c/l) and by that of diesel by PKR19.90/l (US$6.93c/l) to PKR273.40/l (US$95.2c/l).

The Vietnamese Government has approved the country’s National Energy Master Plan for the period 2021 - 2030, with a vision to 2050. In the plan, final energy consumption is forecast to reach 107 Mtoe by 2030 and 165 to184 Mtoe by 2050 (up from 66 Mtoe in 2021), while primary energy consumption will reach 155 Mtoe by 2030 and between 294 and 311 Mtoe by 2050 (92.5 Mtoe in 2021). The Master Plan targets a proportion of renewable energy in its total primary energy of 15 to 20% by 2030 and about 80 to 85% by 2050.

India’s Union Ministry of State Science & Technology has announced that the country's nuclear power capacity was set to increase from 7,480 MW currently to 22,480 MW by 2031. According to the ministry, the Indian Government has also accorded its ‘in principle’ approval for new sites to set up 10 new pressurised heavy reactors with a capacity of 700 MW each.

The French General Secretariat for Ecological Planning has released a new working paper on industrial green planning, seeking to decarbonise the French industrial sector. The sector’s greenhouse gas emissions are expected to decline by 44% over 2019-2030 (-35 MtCO_2eq), with about a fifth of drop due to electrification. The sector’s energy consumption is forecasted to decline by 3 to 10% over the 2019-2030 period, with an increase in electricity and hydrogen demand (+58%), as well as bioenergy and waste (x3.3). Meanwhile, oil products consumption will decline by 30%, gas consumption by 29% and coal and coke consumption by 66%. In 2030, the industrial sector will mostly consume power and hydrogen (36%, compared to 22% in 2019), oil products (24%, down from 33% in 2019), natural gas (19%, 26% in 2019) and bioenergy and waste (14%, 4% in 2019).