Russia could use alternative routes to send natural gas via pipeline to Europe if the current Russia-Ukraine gas transit deal is not extended beyond its expiry date at the end of 2024, Kremlin spokesman Dmitry Peskov said on Friday. Peskov, however, warned that there would be logistics changes along the …

The Houthi attacks on commercial shipping in the Red Sea have forced many tanker and container ship operators to reroute voyages via Africa, which has increased travel times, delayed goods delivery, disrupted supply chains, and raised shipping costs. The disruption to traffic via the Red Sea/Suez Canal route could continue …

Shortly after achieving 1 billion barrels of total oil production the West Azeri platform, one of the seven Azeri-Chirag-Gunashli (ACG) production platforms in the Caspian, BP kicked off a new 4D seismic program on the ACG field on January 20, 2024. According to the oil major, this is its largest-ever …

The U.S. upstream oil and gas industry booked its biggest-ever quarter for mergers and acquisitions in the fourth quarter of 2023, with a total of $144 billion worth of deals, Enverus Intelligence Research (EIR) said in a report on Tuesday. The record-setting fourth quarter also pushed the full-year 2023 deal …

Non-oil exports of the Islamic Republic of Iran exceeded $36 billion over the past 9 months of the Iranian calendar year, a senior Iranian trade official announced. The export director general of the Iranian customs organization, Ali Akbar Shamani, said on Tuesday the country’s non-oil exports have reached $36bln over …

LG Chem Ltd. and Eni SPA have signed a joint venture agreement for a planned biorefinery in South Korea, toward a final investment decision expected later this year. The project is planned to rise in the town of Daesan on the west coast of the country where local company LG …

Russian Sakhalin Energy wants to increase long-term contract prices, threatening to drive up energy costs in South Korea and Japan. Sakhalin Energy sees a tighter gas market now than it did earlier. Accordingly, the talks in North Asia began late last year as part of a regular price review that …

TotalEnergies has bought a majority stake in two offshore wind projects in Denmark from European Energy and both companies agreed to cooperate on offshore wind auctions in the Scandinavian nation. Under the agreement, the French energy company takes an 85% stake in the 240 MW Jammerland Bugt project and a …

China has become a powerhouse in clean energy, and has overtaken the EU on clean technology research, a paper prepared for the European Commission has shown. “China has caught up with the EU in R&D expenditure. While Chinese R&D intensity more than doubled since 2000, EU R&D intensity grew much …

Russia’s reliance on four, mainly Asian, countries to import its coal has increased since some countries implemented sanctions against Russia after it invaded Ukraine, according to Global Trade Tracker data. This trade shift corresponds with increased coal exports from the United States to Europe and EU sanctions that went into …