International Energy Network News: The European Commission announced on the 4th that it will allocate 2.3 billion euros as a special fund for the construction of 43 energy projects. This move will not only ensure Europe's energy supply, but also create more job opportunities and further stimulate economic recovery.

According to the British "Guardian" news, business leaders such as Branson, founder of the famous British private enterprise Virgin Group, recently stated that the world will run out of oil and an energy crisis will break out in the next five years, which will be more serious than the credit crunch crisis.

UAE Foreign Minister Abdullah emphasized on the 17th that the international community must redouble its efforts in sustainable development and renewable energy and jointly promote the development of renewable energy.

European leaders plan to set up a fund worth 6 billion euros (approximately S$12 billion) in the next three years to help developing countries cope with global warming and enable progress in the Copenhagen climate negotiations.

The International Energy Agency (IEA) recently stated in a draft of the "World Energy Outlook" that the global natural gas market will face a surplus, which will weaken the oil and gas price linkage. The draft is expected to be released on November 10.

The European Committee of Regions and the American Association of Mayors stated in Brussels on the 7th that mayors in Europe and the United States are determined to strengthen cooperation and play the role of local authorities to better respond to the huge challenges that climate change brings to human society.

The Mexican state oil company (Petroleos Mexicanos, or Pemex for short) said on the 7th that the French oilfield services group geophysical company CGG Veritas (or CGV for short) won a five-year agreement with Pemex to conduct unfinished operations in the Gulf of Mexico. Carry out oil exploration in developed sea areas.

According to Libyan media reports on the 6th, the Libyan government decided to establish the Supreme Council for Energy Affairs, which will be responsible for formulating policies and development plans for Libyan oil and natural gas.