The European Council and the European Parliament have agreed on a provisional deal to phase out Russian natural gas imports by 2027. “The regulation introduces a legally binding, stepwise prohibition on both liquefied natural gas (LNG) and pipeline gas imports from Russia, with a full ban from the end of …

Kazakhstan plans to build a new large refinery and boost existing refining capacity to more than double its crude processing capacity by 2040, Energy Minister Yerlan Akenzhenov said on Tuesday. Last year, the refining processing rate of the OPEC+ oil producer was 18 million tons per year. Expansion of existing …

The hydrogen fuel cell market is on the verge of a major inflection point, projected to nearly double in value over the next six years as global powers scramble to hit critical net-zero emission targets. The technology, which provides emissions-free electricity for everything from heavy-duty trucks to corporate data centers, …

Saudi Arabia is doing something that might seem confusing; it’s spending more, borrowing more, and pushing ahead with massive economic projects, even though oil prices are far too low to balance the budget. According to the new 2026 budget outline released on Tuesday, Riyadh plans to spend 1.3 trillion riyals …

The decline of India’s crude oil imports from Russia could be only temporary as Russia plans to boost supply and evade Western sanctions, the Kremlin spokesman Dmitry Peskov said on Tuesday as India prepares to welcome Vladimir Putin on an official visit later this week. “There can be, for a …

Iraq’s Khor Mor gas field, the country’s largest non-associated gas field, has resumed operations after it shut down following a recent drone attack. Last week, a rocket struck a storage tank at the Khor Mor site, stopping production and triggering widespread power outages. The drone attack was one of the …

A tanker carrying Russian gasoil was hit by multiple explosions off the coast of Senegal, marking the third case in recent days. The Mersin had made several calls at Russian ports this year before it met its fate on Monday. The vessel was later stabilized and placed under tow, with …

Oil prices remained elevated in early Asian trade on Tuesday as investors priced in growing geopolitical risk, especially after a drone strike damaged infrastructure at the Caspian Pipeline Consortium (CPC) Black Sea terminal. At the time of writing, Brent crude was trading at $63.16 a barrel and U.S. West Texas …

India could reduce its imports of Russian crude oil by 50%, a former foreign minister in New Delhi told local media, noting that both India and Russia would nevertheless look for ways to go around U.S. sanctions to keep some oil flowing. “We will be gradually reducing oil purchases from …

Several United States environmental policies may be weakened or removed following a week of announcements by various agencies with plans to introduce major changes. This could mark the largest rollback of environmental protections under any administration. In November, the U.S. Environmental Protection Agency (EPA) proposed to remove federal protections from …