The European Union will aim to double its use of renewable energy by 2030 under a deal announced on Thursday. It addresses the EU’s twin goals of drastically cutting its carbon emissions and replacing the Russian fossil fuels it once relied upon. EU states will have new targets for clean …

The UK selected projects from developers including BP Plc and Equinor ASA to enter into negotiations for the country’s first large-scale efforts to capture and store carbon emissions. In total, eight projects are set to receive government support to trap carbon from industrial clusters in the north of England. The …

A Japan’s leading trading company has reportedly offered Pakistan to sell Russian oil and Nigerian Liquified Natural Gas (LNG) to Pakistan at 35 per cent less than the global market’s prices. The Japanese company partners with an Irish company for the purpose. It is learnt that the representative of the …

Turkey on Wednesday said it was ready to assist Hungary with natural gas delivery via the Trans-Anatolian Natural Gas Pipeline (TANAP). “We, (Turkey) together with Azerbaijan, are ready to provide all means of support in the delivery of natural gas to Hungary via TANAP,” President Recep Tayyip Erdogan said at …

Iraqi Oil Minister, Hayan Abdul Ghani, announced today that gas investment operations have commenced in the Akkas gas field, located in al-Anbar governorate, with a production rate of 60 million standard cubic feet per day (MMSCFD). The Ministry spokesperson emphasized the significance of this development as an invitation to foreign …

Europe has negotiated through the winter of a crisis that threatened to choke energy supplies and overwhelm its economy, but officials are warning that the squeeze may not yet be over. Fears of blackouts and freezing homes have faded for now, and gas reserves remain far fuller than normal. The …

Crude oil inventories in the United States fell this week by 6.076 million barrels, the American Petroleum Institute (API) data showed on Tuesday, in a major divergence from the 187,000 barrel build that was expected. The total number of barrels of crude oil gained so far this year is still …

Saudi Aramco’s new refinery deal to buy a 10% stake in private Chinese chemical group Rongsheng Petrochemical includes agreements on crude oil storage in eastern China and the supply of plastics and petrochemicals to the Middle East energy giant. Saudi Aramco said on Monday it would buy the stake in …

Qatar’s state-owned energy giant QatarEnergy has entered into a farm-in agreement for two exploration licenses offshore Newfoundland and Labrador in Canada with ExxonMobil Canada, a subsidiary of the U.S. oil major ExxonMobil. This deal allows the Qatari player to expand its offshore exploration portfolio in Atlantic Canada. QatarEnergy revealed on …

BP Plc and Abu Dhabi National Oil Co. will form a natural gas joint venture and have made an offer to take Israel’s NewMed Energy private in a deal worth around $2 billion. The move will deepen BP’s presence in the eastern Mediterranean and mark ADNOC’s first venture into the …