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Guests look at a model of the largest data center in the UAE under construction in Abu Dhabi as the Stargate initiative, a joint venture between G42, Microsoft, and OpenAI, during the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) in Abu Dhabi on November 3, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

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Fossil fuel leaders have welcomed a paradigm shift in the narrative regarding the energy transition.

Speaking to CNBC on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), OPEC Secretary-General Haitham Al Ghais said there has been a “big shift” in the way industry leaders and policymakers are now talking about meeting rising global energy demand.

“Three years ago, it was all about energy transition. Energy transition, climate change [and] get rid of fossil fuels. Today, it’s about [how] we have to have a balanced approach,” Al Ghais told CNBC’s Dan Murphy in an exclusive interview.

“So, it’s a very different tone, which … I must say, sounds like music to my ears because this is what OPEC’s been advocating for the last two, three, four years actually,” Al Ghais said Tuesday.

His comments were echoed by several industry players at the UAE’s annual oil summit, with many championing the concept of “energy addition” to secure supply and accommodate new demands from sectors like artificial intelligence.

Watch CNBC’s full interview with the OPEC Secretary-General at ADIPEC

This energy addition refers to a push to develop new technologies, such as renewables like solar and wind, in parallel with existing fossil fuels. Energy transition, by contrast, typically refers to the transfer from one energy source to another.

Climate scientists have repeatedly warned that a substantial reduction in fossil fuel use will be necessary to curb global heating, with the burning of coal, oil and gas identified as the chief driver of the climate crisis.

UAE Minister of Industry and Advanced Technology Sultan al-Jaber said at the opening of ADIPEC on Monday that global electricity demand will continue to soar through to 2040, with power for data centers set to grow fourfold and 1.5 billion people expected to move from rural areas to cities.

Sultan Ahmed Al Jaber, chief executive officer of Abu Dhabi National Oil Co. (ADNOC), speaks during the opening ceremony of the ADIPEC conference in Abu Dhabi, United Arab Emirates, on Monday, Nov. 3, 2025.

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The minister, who also serves as CEO of UAE oil giant ADNOC and led talks at COP28, said renewable energy technologies were on track to more than double globally by 2040, with liquified natural gas (LNG) demand poised to grow by 50% and oil set to stay above 100 million barrels per day.

“This all adds up to something far more complex than a single path energy transition,” al-Jaber said. “What we are talking about here is reinforcement — not replacement. In fact, what we’re really talking about here is energy addition.”

‘A big rethink is going on’

Mike Sommers, president and CEO of the American Petroleum Institute (API), an industry lobbying group, welcomed what he described as a “realistic conversation” about what will be required to power AI in the future.

“I think we are transitioning from the energy transition. I think everyone recognizes that we’re going to need a lot more energy going forward,” Sommers told CNBC on Monday.

“Our institute, the American Petroleum Institute, and almost every other independent analyst suggests that we’re going to need more. Yes, it’s AI. Yes, it’s data centers. But it’s also more air conditioning, more people plugging things into the grid,” Sommers said.

“We’ve known this for a long time. AI, I think, has put a punctuation point on that,” he added.

API CEO: U.S. oil & gas industry 'backbone' of world economic, energy security

Energy veteran and S&P Global vice chairman Dan Yergin echoed this sentiment, saying a big demand surge is in the offing as U.S. tech giants ramp up their AI plans.

Asked whether he agreed with Sommers’ view that the narrative is shifting away from the energy transition, Yergin said: “Yes, absolutely. That is what’s happening. A big rethink is going on.”

“You can see the perspective of the tech companies, who didn’t worry about energy. It was not a cost for them. Now, very much,” he added.

“It’s thought that about half of U.S. GDP growth is coming from investment that the tech companies — now known as the hyperscalers — are putting into building data centers.”

What next for the energy transition?

Ed Crooks, vice chair Americas at Wood Mackenzie, agreed that the energy transition had been a key focus during conversations at ADIPEC.

“When you talk about the transition, it seemed to mean a lot of different things to a lot of different people. If, by the energy transition, you mean are we going to get to net zero by 2050 [and] are we going to be able to limit global warming to 1.5 degrees? That, I think it is fair to say, is dead, but I don’t know that was ever really alive in the sense that it was always very, very ambitious,” Crooks told CNBC on Tuesday.

“If, by energy transition, you mean there is going to be rapid growth in renewables, there’s going to be a shift to electric vehicles and we’re going to be heading towards, in general, a lower carbon energy system then I think in that sense the energy transition is alive still.”

— CNBC’s Emilia Hardie contributed to this report.

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Royal Enfield unveils Flying Flea S6 scrambler-style electric motorcycle built for urban adventure

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Royal Enfield unveils Flying Flea S6 scrambler-style electric motorcycle built for urban adventure

Royal Enfield’s new electric motorcycle brand, Flying Flea, just pulled the wraps off its second model – the scrambler-inspired FF.S6 – at EICMA 2025, and it’s an agile, tech-packed machine that brings serious trail-ready vibes to city streets.

Inspired by the iconic 1940s Flying Flea motorcycle (which was literally parachuted into battle, hence the logo), the FF.S6 is a modern reimagining with off-road chops and futuristic tech. Royan Enfield assures us that this is a far cry from an average urban electric motorcycle. Instead, it’s a lightweight, connected, and capable machine that blends classic scrambler style with serious smart features.

Built on a lightweight frame with staggered 19-inch front and 18-inch rear wheels, a USD front fork, and chain final drive, the FF.S6 is ready for both tight urban corners and loose gravel backroads. A high-torque electric motor paired with a magnesium finned battery case keeps weight low while enhancing cooling, and the long enduro-style seat offers comfort for longer rides.

Tech-wise, the FF.S6 goes way beyond what you’d expect from a typical commuter. A circular high-res touchscreen display nods to the original Flying Flea while delivering fully connected features, including lean-angle sensing ABS, traction control, off-road mode, and built-in navigation. Voice Assist lets riders launch music or maps hands-free through their phone, and OTA updates ensure the bike gets smarter over time.

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The system is powered by a Snapdragon QWM2290 processor, the same class of chip you’d find in advanced smartphones. Riders can use a smartwatch or phone app to manage everything from keyless start to charging status and diagnostics.

Production of the FF.S6 is expected to begin by the end of 2026.

Electrek’s Take

Sure, this is largely just an experiment in applying some mods to the same motorcycle prototype that Royal Enfield showed us last year, but it’s a cool-looking example of it! And while we’re still waiting to see what these bikes will cost (not to mention a few more hard and fast tech specs), I’m glad to see that Royal Enfield’s Flying Flea team is jumping in with bold design and bleeding-edge software. The FF.S6 looks like a scrambler but thinks like a smartphone and rides like an urban bike – likely. And for a new wave of connected urban riders, that might be the perfect combination.

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Orsted swings to quarterly net loss as Trump’s offshore wind battle takes its toll

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Orsted swings to quarterly net loss as Trump's offshore wind battle takes its toll

A turbine blade is lifted onto a rack near tower sections at the Revolution Wind project assembly site at State Pier in New London, Connecticut, US, on Friday, Oct. 24, 2025.

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Danish renewables giant Orsted on Wednesday reported a quarterly net loss as the beleaguered company continues to battle U.S. President Donald Trump’s anti-wind policies.

The world’s biggest offshore wind farm group posted a net loss of 1.7 billion Danish kroner ($261.8 million) for the July-September period. The result, which was slightly better than analysts feared, was significantly down from profit of 5.17 billion Danish kroner in the same period last year.

Orsted flagged third-quarter impairment costs of nearly 1.8 billion Danish kroner.

The company, however, reiterated its full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of 24-27 billion Danish kroner, excluding earnings from new partnerships and cancellation fees.

It comes shortly after the company announced it had reached a deal to sell a 50% stake in its Hornsea 3 offshore wind farm in the U.K. to Apollo Global Management in a deal worth $6 billion.

“I’m satisfied with the good progress across our entire construction portfolio and our solid operational performance,” Orsted CEO Rasmus Errboe said in a statement.

“Our key focus is to continue delivering on our business plan, which will enable Ørsted to remain a global leader of offshore wind with a strong foothold in Europe,” he added.

Shares of Orsted were 1.2% higher on Wednesday morning. The stock price has fallen sharply this year amid concerted efforts from the White House to halt several ongoing developments and suspend new licensing.

Vestas shares pop

Danish wind turbine firm Vestas, meanwhile, reported stronger-than-expected third-quarter earnings.

The firm on Wednesday said that operating profit came in at 416 million euros ($477.8 million) for the July-September period, above expectations of 305 million euros estimated by analysts in a company-compiled consensus.

Shares of Vestas jumped more than 14% on the news, soaring to the top of the pan-European Stoxx 600 index, as investors welcomed signs of a successful turnaround following years of losses.

Asked about some of the headwinds facing the wind industry, notably from the Trump administration, Vestas CEO Henrik Andersen said the company has a “well-established” supply chain in the U.S.

“For us, we see the U.S., both customers and the buildout in the U.S., as some of our core responsibility to help the U.S. with,” Andersen told CNBC’s “Squawk Box Europe” on Wednesday.

“Then sometimes maybe we have to get a bit of a slap that it is not everyone that likes the nature of a wind turbine. But I think, in general, … energy drives decision making and [the] cost of energy drives decision making,” he added.

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NIU’s scooter-sized electric microcar is actually headed for production

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NIU's scooter-sized electric microcar is actually headed for production

Earlier this year, we covered the unveiling of the NIUMM, an electric microcar designed for urban residents (and especially those with a NIU scooter already, since it shares the same batteries). Now the company is actually bringing it to market.

The electric microcar was on display at EICMA 2025, the Milan Motorcycle Show, where NIU showed off how it shares the same drivetrain as its NQi-series scooters.

The small format L6e quadricycle uses a pair of NQi batteries – the same ones from NIU’s scooters – to power the little not-a-car up to around 70 km (43 miles) at speeds of up to 45 km/h (28 mph). That’s the maximum allowable speed for the L6e class.

For anyone who already owns the scooter, those two batteries may be sufficient. But the range can be nearly doubled by carrying a second pair of batteries in the convenient extra battery slots built into the vehicle.

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When the NIUMM was originally launched, it wasn’t yet clear if it was actually headed for production, or at least when that may be. But NIU’s Director of International, Sieghart Michielsen, explained that the vehicle is finishing homologation testing now, marking the last major obstacle to its commercial launch.

L6e quadricycles have carved out a unique and growing niche in European cities, where their compact size, low speed, and lightweight classification make them ideal for navigating dense urban environments. These light four-wheeled vehicles are limited to a top speed of 45 km/h (28 mph) and a maximum weight of 425 kg (excluding batteries), allowing them to be driven with a moped license in many countries.

That accessibility, combined with their affordability and electric drivetrains, has made L6e quadricycles especially popular among teenagers, city dwellers, and older adults looking for an easy-to-use alternative to cars.

One of the most iconic examples is the Citroen Ami, a no-frills, ultra-compact electric vehicle that has gained cult status in urban areas thanks to its minimalist design, €7,000 price tag, and availability through subscription or car-sharing services. My wife and I spent a week living with a Citroen Ami while on vacation in Greece, and it proved to be a fascinating way to navigate around.

Other standout L6e models like the Renault Twizy, the Microlino, and the Eli Zero, have helped demonstrate real demand for niche, small vehicles. These vehicles offer just enough comfort and protection from the elements for short city trips, while avoiding the cost, complexity, and parking headaches of full-size cars –making them an increasingly attractive option in Europe’s car-light future.

NIU could leverage the growing momentum for these types of vehicles if it can stick the landing with the NIUMM. While we still don’t have solid pricing or availability timelines yet, it looks like we’re looking at sooner rather than later.

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