The International Energy Agency (IEA) has said that the global oil market could see tightness in the second half of 2023, which would push oil prices higher. Executive Director of IEA, Fatih Birol, made the prediction as oil prices surged above $80 since the beginning of the month, after the …

The Organisation of Petroleum Exporting Countries (OPEC) says global primary energy demand is forecast to increase by 23 per cent in the period to 2045, which necessitates utilising all forms of energy. The OPEC said based on its World Oil Outlook (WOO) forecast, resultantly, many of its Member Countries had …

Last month, Russia managed to bring its crude oil exports back to pre-war levels. This is stated in the April report by the International Energy Agency, Ukrinform reports. “Russian oil exports in March soared to the highest since April 2020 thanks to surging product flows that returned to levels last …

Oil prices firmed slightly early on Tuesday, after falling 2 per cent in the previous session, as stronger economic data from the world’s largest crude importer China underpinned demand outlook. Brent crude climbed 23 cents to $84.99 a barrel at 0416 GMT, while U.S. West Texas Intermediate rose 21 cents …

When the idea of re-creating the process that powers the sun here on Earth felt more like a thought experiment or a science fiction premise than a viable part of our global energy mix, it was easy to imagine equally far-fetched outcomes. We imagined that fusion would be limitless, unstoppable, …

Cost inflation and increased competition to secure long-term buyers and financing could hold back some of the more than a dozen proposed LNG export projects in the United States. Demand for LNG globally is currently high, as European countries rush to build import terminals and purchase liquefied natural gas to …

The biggest nuclear reactor in Europe by capacity, Olkiluoto 3 in Finland, started regular electricity production on Sunday, entering into service 14 years later than initially planned. Olkiluoto 3, which had completed test production and is now regularly producing electricity, is expected to account for 30% of Finland’s power generation, …

Iran’s gas export rose 79 percent in terms of worth, and 10 percent in terms of amount, in 2022, the managing director of National Iranian Gas Company (NIGC) announced. Majid Chegeni also announced that the country’s gas swap experienced a 530 percent rise in terms of value, and a 358 …

Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. The March 23 arbitration ruling by the International Chamber of Commerce (ICC) ordered Turkey to pay Baghdad damages of $1.5 …

Qatar “reclaimed” its position as the largest liquefied natural gas exporter in the world with 80mn tonnes of LNG exports in 2022, the Gas Exporting Countries Forum (GECF) has said in a report. Last year, Qatar was followed by Australia (79mn tonnes), the US (78mn tonnes), Russia (32mn tonnes) and …