Empire Offshore Wind, a joint venture between Equinor and BP, has secured approval for its offshore wind farm project on the US East Coast. The project is the sixth commercial-scale wind farm to be given a go-ahead under President Joe Biden’s administration. Equinor and BP plan to build two offshore …

South Korea is avoiding the global trend toward long-term agreements on liquefied natural gas due to high prices, a risky move that will leave the top importer exposed to the volatile spot market. State-owned Korea Gas Corp. plans to rely on short-term deals or spot purchases to fill its supply …

The Mediterranean has big dreams of becoming Europe’s clean energy powerhouse, but they have a long way to go before that goal becomes economically and logistically feasible. Between its plentiful sun for solar energy and its considerable existing natural gas infrastructure, which could be repurposed for piping green hydrogen across …

Oil prices were largely unchanged in Asian trade on Wednesday as a potentially big build-up of U.S. crude cancelled out gains triggered by likely supply cuts from the OPEC+ producers group. Brent crude futures rose 11 cents, or 0.1%, to $82.56 a barrel by 0004 GMT. U.S. West Texas Intermediate …

The current oil market deficit will turn into a slight surplus next year even if OPEC+ leaders Saudi Arabia and Russia extend their production and export cuts into 2024, Toril Bosoni, the Head of Oil Industry and Markets Division at the International Energy Agency (IEA), told Reuters on Tuesday. Global …

Supported by the United States, France will propose at the COP28 climate summit in Dubai an exit of private financing for coal-fired power plants, Reuters reported on Tuesday, citing sources with knowledge of the talks. According to Indian officials who spoke to Reuters, France has discussed with India – a …

ArcelorMittal, the world’s second-largest steelmaker, is looking to sign an agreement with a U.S. LNG exporter as it aims to secure stable supply of natural gas following last year’s energy crisis in Europe, the Financial Times reported on Tuesday, quoting sources with knowledge of the plans. Industrial giants in Europe …

The national oil producer of the United Arab Emirates and Australia’s energy group Santos have teamed up to jointly explore the development of a global carbon management platform to help customers in the Asia Pacific region cut emissions. Abu Dhabi National Oil Company, which pumps nearly all the oil in …

European natural gas prices were having a nervous trading session early on Tuesday as traders weighed higher heating demand amid colder weather with still nearly full EU inventories. The front-month Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were down by 1.7% to $49.30 (45 euros) per …

World oil demand continues to exceed expectations, the International Energy Agency (IEA) stated in its latest oil market report (OMR), which was released recently. “We have slightly revised up our 2023 growth forecast to 2.4 million barrels per day, as U.S. deliveries proved more resilient than indicated by preliminary data …