OPEC+ ministers rejected oil’s bearish reaction to its decision to gradually boost crude production from October and predicted the market will eventually see that the group’s policy is correct. The alliance remains committed to the stability of the oil market and can react quickly to any changes, ministers from the …

Foreign investors were allocated about 60% of the shares on offer in Saudi Aramco’s $11.2 billion stock sale, people familiar with the matter said, marking a turnaround from the oil giant’s 2019 listing that ended up as a largely local affair. The deal generated strong demand from the U.S. and …

Asia’s first cylindrical floating production, storage and offloading (FPSO) facility, the Haikui No. 1, approaches completion after the successful connection of its 12th mooring cable at the Liuhua oilfield in the Pearl River Mouth Basin in the South China Sea on Monday. The FPSO facility, a cornerstone of offshore oil …

Oil and gas production in the United States hit record highs at the end of 2023 but has since trended lower, and the growth in output has slowed year-over-year. U.S. companies have slowed production growth rates as oil prices stabilized at lower levels last year compared to the 2022 highs, …

Clean hydropower is produced in several parts of the world with around 60 percent coming from China, Brazil, the United States, Canada, Russia, India, Norway, Venezuela, Sweden, and Japan. Now, more countries want to exploit their hydropower potential as governments worldwide push for a green transition. However, the industry faces …

The United States and the European Union fear the Chinese electric vehicle competition, the founder and CEO of China’s EV manufacturing giant BYD said on Friday. “There are many examples of politicians in other countries who are worried about EVs in China,” BYD founder, CEO, and chairman Wang Chuanfu said …

The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter. The Saudi government is expected to sell the 1.545 billion shares of Aramco …

EU competition regulators have given an informal approval to a German plan to offer state support to new natural gas-fired power capacity of 10 gigawatts (GW) that would help stabilize the grid as Europe’s biggest economy is boosting renewables, government and industry sources with knowledge of the talks told Reuters …

Investment in renewable energy projects in Australia rebounded in the first quarter of 2024 from the 2023 lows, but the country needs to further boost its annual investments to meet the government’s 2030 clean energy target, industry body Clean Energy Council said in a report on Friday. The association’s Renewable …

The $12-billion secondary share offering of Saudi oil giant Aramco has drawn strong demand from foreign investors, sources with knowledge of the matter told Bloomberg on Thursday. Saudi Aramco launched on Sunday a secondary public offering of 1.545 billion shares of the company, representing approximately 0.64% of the company’s issued …