Eni, Enel and other state-controlled Italian energy groups are due to benefit from a partial transfer of European Union funds to the REPowerEU scheme, credit rating agency DBRS said on Monday (24 July). In a report analysing Italy’s challenges to spend €191.5 billion of EU post-COVID funds by 2026, DBRS …

The first signs of a slowdown in activity in the U.S. shale patch emerged earlier this year as declining oil prices prompted drillers to reduce the number of active rigs. Then data suggested that well yields were also dropping—a sign of potential natural depletion that would make drillers think twice …

Local authorities in the Greater Manchester area in the UK have issued planning permission to UK energy infrastructure development company Carlton Power to build what would be the world’s largest battery energy storage scheme, which will cost $963 million (£750 million). Carlton Power plans to build and operate a 1GW …

China is investing record amounts of money into renewable energy sources, but it continues to rely heavily on coal to cope with rising power demand. During the first half of this year, coal production, coal imports, and coal-fired electricity generation jumped and offset a significant decline in power output at …

Chevron Corp. reported second-quarter earnings of $6.01 billion, beating analyst estimates. The figures, while down 48% from the same period last year, topped the second-quarter profit of $5.5 billion expected by analysts in a Bloomberg survey. Chevron also said on Sunday it produced 772,000 barrels of oil equivalent at the …

TotalEnergies has signed an agreement with Rönesans Holding to acquire a 50% stake in Rönesans Enerji and jointly develop, through this joint-venture, renewable projects in Turkey, which is a liberalised growing electricity market. Rönesans Enerji is currently operating a portfolio of 166 MW hydro assets. The company has as well …

Gas Transport System Operator of Ukraine, or GTSOU, has accepted a nomination from Russia’s Gazprom today to transport 40.2 million cubic meters of gas through the country, up from 40 mcm on Sunday, data from GTSOU show. Capacity was requested only through one of two entry points into Ukraine’s Gas …

Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies attracted heavy buying, according to trade sources. The jump in U.S. imports comes on the back of strong Chinese demand for Brazilian oil in the third …

The Undersecretary of the Iraqi Oil Ministry, Basim Mohammed Khudair, stated on Saturday that Iraq will benefit from all available associated gas and achieve self-sufficiency in gas by 2030, the Iraqi News Agency (INA) reported. Khudair also indicated that foreign companies expressed their desire to invest in associated gas-related projects. …

OPEC data cited in a Sunday report by the IRIB News showed that Iran had produced a total of 262.261 billion cubic meters (bcm) (9.26 trillion cubic feet) of natural gas last year, up from 257.119 bcm reported in 2021. Iran was the third largest gas producer in the world …