China’s first offshore million-tonne carbon storage project was put into operation on Thursday in the South China Sea, according to the China National Offshore Oil Corporation (CNOOC). The project is designed to store a total of more than 1.5 million tonnes of carbon dioxide (CO2), which is equivalent to planting …

Spot prices for liquefied natural gas in Asia are trading at a consistent premium over the European benchmark for the rest of this year, signaling that competition for the fuel could tighten if demand rebounds. Exports from the US are currently more profitable to Asia in July, August and September, …

A Reuters survey on Wednesday shows a drop in OPEC oil output for May following voluntary production cuts by OPEC+ said to help support the market. According to the survey, OPEC production was down 460,000 barrels per day from April, and down more than 1.5 million bpd from September, though …

Qatar Airways has signed a deal with Shell to source 3000 t of neat sustainable aviation fuel (SAF) at Amsterdam Schiphol airport, the Netherlands. It encompasses the existing jet fuel contract with Shell at Amsterdam which will now see Qatar Airways using at least a 5% SAF blend over the …

Falling coal prices could drive Chinese imports to all-time highs, as fuel unwanted elsewhere in the world is diverted to the biggest consumer. China’s purchases may hit about 326 million to 345 million tonnes in 2023, according to its top industry association. That compares with 266 million tonnes in 2022, …

The EU is set to add 60 GW of solar photovoltaic (PV) and wind capacity this year, further reducing its reliance on fossil fuels and supplies from Russia, the International Energy Agency (IEA) said on Thursday. By 2024, the IEA expects wind and solar PV to make up more than …

Tesla CEO Elon Musk made a bold prediction in 2017: “Everything will go fully electric, apart from (ironically) rockets. Ships are the next easiest to solve after cars.” Six years later, the world’s second-richest person might be right about the next battery boom in ships. Japanese battery startup PowerX Inc. …

With more than 35 oil discoveries since 2015 the impoverished South American microstate of Guyana has emerged as the world’s hottest frontier drilling location. Global energy supermajor ExxonMobil is leading the charge by exploiting the prolific offshore Stabroek Block where it has discovered over 11 billion barrels of oil resources. …

The Japanese parliament on Wednesday passed a bill that allows nuclear reactors in the country to be operated beyond the current limit of 60 years to help cut carbon emissions while ensuring an adequate national energy supply. The law on power sources for green transformation and decarbonization amends five laws …

US ambitions to break China’s dominance of green energy supply chains are “great for the world” as long as tensions don’t lead to war, said iron ore magnate Andrew Forrest. The chairman of Fortescue Metals Group, the world’s fourth-largest iron ore producer, said it was healthy for competitors to challenge …