Energy will remain expensive in the European Union even under a best-case net-zero scenario, the bloc’s business association, BusinessEurope, has warned. According to a study by the association, electricity prices in the European Union would be at least 50% higher than the same prices in the United States and China …

Saudi Aramco is considering a takeover bid for Australian energy major Santos, Bloomberg has reported, citing unnamed sources, who also said the UAE’s Adnoc was also studying an offer for the company. The bids were a demonstration of Middle Eastern energy companies’ interest in expanding their natural gas business internationally, …

China’s government this week made a decisive step towards developing more of the country’s oil and gas reserves, including unconventional ones. A new umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations. Given China’s standing as a top wind and solar …

Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, while the market kept tabs on flaring tensions in the Middle East. Brent crude futures edged up 47 cents or 0.5% to $86.71 per barrel at 0330 GMT, touching a 10-week high. U.S. West …

The volume of natural gas imported into the European Union fell by over 11 percent in the first quarter of 2024 compared to the same three-month period a year ago, while the value was more than halved, official figures showed. “The significant decrease in value reflected the declining prices of …

Falling crude oil exports from Saudi Arabia accounted for half of the 1 million barrels per day (bpd) drop in global seaborne shipments in June compared to May, tanker-tracking data compiled by Bloomberg showed on Tuesday. The estimated decline of about 1.08 million bpd in global crude oil shipments was …

Global CO2 equivalent emissions grew by 2.1% in 2023, crossing 40 billion metric tons for the first time. This category of emissions is the sum of carbon dioxide emissions from energy, carbon dioxide emissions from flaring, and methane emissions (in carbon dioxide equivalent). This news, reported by the recently published …

Via Metal Miner Sources said that steel manufacturing entities in northern Europe are unlikely to seek price increases on hot rolled coil until July, despite events since May that could create conditions to raise them. “If you do that, you seem very opportunistic,” one source told MetalMiner. Mills were seeking …

Shell will pause on-site construction work at a biofuels plant in Rotterdam amid weak market conditions, the supermajor said on Tuesday, as international oil firms continue to re-evaluate their low-carbon energy projects. Shell’s subsidiary Shell Nederland Raffinaderij will temporarily pause on-site construction work at its 820,000 tons-a-year biofuels facility at …

Germany’s small and medium-sized companies are increasingly turning to solar power to cover their electricity consumption as energy prices in Europe’s biggest economy haven’t dropped much despite the fall in natural gas prices compared to the peak energy crisis. “As electricity prices in Germany show no signs of decreasing as …