The spot price for gas in Europe has again risen above $400 per thousand cubic meters after falling below that level at the end of last week. It had soared towards $500 before falling back to $355 amid concerns regarding a labor dispute and possible industrial action at LNG plants …

Iraq’s Basra Oil Company (BOC) announced that TotalEnergies entered into a contractual commitment to carry out four large energy projects as part of a deal concluded with the Iraqi government last July. TotalEnergies long-awaited $27 billion energy deal is expected to increase oil production and Iraq’s capacity to produce energy …

The Indian government has formally called on Iraq to provide further concessions on oil prices, drawing parallels with the low-cost Russian crude that has emerged as India’s primary oil source since May 2022, displacing Iraq from its longstanding position. In a strategic move to diversify their oil imports and curtail …

Oil prices ticked higher on Monday (Aug 28) after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further US interest rate hikes that could dampen fuel demand. Brent crude rose 19 cents, or 0.2 per cent, to US$84.67 …

Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery. China Petroleum & Chemical Corp., as it’s officially known, posted net income of 36.12 billion yuan ($4.96 billion), according to international financial reporting standards. That compared with a revised 44.8 billion …

Global oil major BP said the world must invest in the production of oil and gas to avoid to sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia’s invasion …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami has stated that Tehran will continue to produce radiopharmaceuticals in order to meet the domestic demands of the health sector. Eslami made the comment on Saturday during an interview on national TV. He said that radiopharmaceuticals have already helped …

The United General Assembly has decided to mark January 26 as the International Day of Clean Energy. The decision was co-signed by the United Arab Emirates and Panama. The information was disclosed by Abu Dhabi-based International Renewable Energy Agency (IRENA). The announcement is made ahead of the Conference of the …

BP is expanding alternate fuel options in India, CEO Bernard Looney said. Speaking on the sidelines of the B20 Summit, he said BP and partner Reliance Industries have expanded charging stations for EVs to 3,000 now, from 750 in January. “That’s going to be so critical for India… not just …

Equinor has started production at Statfjord Øst, which is expected to boost production by a total of 26 million barrels of oil equivalents from the project, the Norwegian energy major said on Friday. Equinor has been looking to extend the life of various producing oil and gas fields on the …