by Daniel J. Graeber
Washington (UPI) Jun 15, 2017
Hungary, a member of the European Union, is taking strides to cut emissions, but still has a long ways to go, the head of the International Energy Agency said.
IEA Executive Director Fatih Birol met in Budapest with Hungarian Prime Minister Viktor Orban to review a national report on the country's energy sector. The report found Hungarian emissions are "well below" levels from 2008 even as the economic picks up steam.
"Hungary has made progress in diversifying its energy supplies and increasing competition in the energy sector, but there is still more to do on both fronts," Birol said in a statement.
The national report found Hungarian growth in renewable energy has stalled out in recent years and the country could make better use of market-based mechanisms as an incentive.
Members of the European Union are called on to cut energy consumption and greenhouse gas emissions by 20 percent and use renewables for 20 percent of total energy mix by 2020. Hungary lags behind some of its peer economies, some of which have already met their 2020 goals, with a renewable mix of less than 10 percent.
The IEA report found biofuels dominating the energy landscape in Hungary at 92 percent of the total for renewable energy. The investment climate, meanwhile, has been complicated by a series of sector-related taxes that has created a climate of uncertainty.
A so-called Red Notice was canceled in November for Zsolt Hernadi, the chairman of Hungarian energy company MOL. Croatian authorities brought the case on charges that Hernadi had bribed former Prime Minister Ivo Sanadar in 2009 to get a stronger role in the nation's energy sector.
Washington (UPI) Jun 14, 2017
An agreement with German energy company Wintershall means Libya has a better chance of meeting oil production goals, a national oil company said. The Libyan National Oil Co. said it signed an agreement with Wintershall that outlines a resumption of oil production from some of its license areas on an interim basis. NOC Chairman Mustafa Sanalla said the agreement gives Wintershall enough ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|