Supermajor BP is weighing the possibility of investing directly in feedstock crop farming and buying stakes in producers of biofuel feedstock as it is accelerating its biofuels business, Nigel Dunn, Senior Vice President Biofuels at BP, told Reuters in an interview published on Wednesday. “Biofuels are an easy way for …

Algeria’s exports of liquefied natural gas (LNG) rose in the first quarter of 2023 compared to the same period of 2022, and the North African producer booked the highest LNG export growth rate among the Arab countries as Europe seeks to replace Russian pipeline gas supply. Algeria’s LNG exports rose …

Pakistan is facing penalties of as much as $18 billion if it fails to complete a gas pipeline project it is carrying out with Iran, local media have reported. The project, which should supply some 750 million cubic feet of natural gas to Pakistan daily, has been fraught with difficulties, …

Russian President Vladimir Putin said on Wednesday, May 17, that oil production cuts were required to maintain a certain price level, contradicting assurances from other leaders of the OPEC+ group of producers that it was not seeking to manage the market in that way. The United States and Europe have …

India is considering refilling its strategic hoard of crude oil, joining the US as the world’s top guzzler begins to rebuild its depleted stockpiles after a period of drawdown. The South Asian nation plans to import about 1.25 million tons (9.2 million barrels) of oil to fill empty reserves, said …

Solar and wind power could have a massive waste problem if not dealt with soon, with growing uncertainty over what to do with components at the end of their lifespan. Some countries are now investing heavily in recycling operations for no longer functioning solar panels and wind turbines, while many …

U.S. gasoline and diesel inventories are drawing down and sitting below the five-year average for this time of the year, pointing to resilient fuel demand and supporting both crude oil prices and U.S. refining margins. Although global refining margins have halved since February as Russian oil supply remains elevated despite …

The Sultanate of Oman is the second largest exporter of natural gas in the Arab world, said the Organisation of Arab Petroleum Exporting Countries, OAPEC. A report issued by the Organisation of Arab Petroleum Exporting Countries “OAPEC” confirmed today in Kuwait that the Sultanate of Oman’s total exports of liquefied …

The EU has set itself a new renewables target for 2030 and wants to reach a share of at least 42.5% and ideally 45% renewables in its energy consumption. Commission President von der Leyen recently made clear that the Union strives for a net-zero power sector by 2040. However, it …

Amidst an ongoing global shift towards greener forms of energy, the International Energy Agency (IEA) has predicted that global oil demand will rise more than previously anticipated, partly due to China’s economic rebound. World fuel consumption will increase by 2.2 million barrels a day in 2023 — about 200,000 a …