Azerbaijan’s total renewable energy capacity in 2022 amounted to 1,339 MW, Trend reports via the latest publication from the International Renewable Energy Agency (IRENA). According to the report, renewable energy capacity in the country over the last year increased by 1.74 percent year-on-year (1,316 MW in 2021). At the same …

While the debate about the effectiveness of the Western-led sanctions on Russians continues, China’s imports of Urals-grade Russian crude oil could hit an 11-month high, Reuters said on Monday. China, so far in April, has purchased 265,000 barrels per day of Russian Urals grade crude oil. This is a 36% …

Managing Director of National Petrochemical Company said that 10 petrochemical projects will be inaugurated in the country this year. Morteza Shahmirzaei made the remarks at the press conference of the 14th edition of international conference of the Iranian petrochemical industry or IPF held in Tehran. He stated that the capacity …

Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea. That is, that the non-U.S. part of the North Atlantic Treaty …

Record imports of cheap Russian crude into India have undermined OPEC’s share of supply to the world’s third-biggest crude importer so much that OPEC’s share of all Indian oil imports has hit the lowest in at least 22 years, according to a Reuters analysis of data from industry sources. As …

The European market is fairly balanced, with prices and renewable energy generation fairly stable. The only downside is the low level of gas injection into underground storage facilities, but the season for this has only just begun. UKRAINIAN TRANSIT Gas Transport System Operator of Ukraine, or GTSOU, has accepted a …

A drilling rig was erected off Lavan Island, the Persian Gulf, another step toward boosting oil output, said an Iranian Offshore Oil Company (IOOC) official Monday. Pouya Ma’arefi, the director of the Resalat oil field development project, said the drilling rig was installed adjacent to the DP-R1 platform. The first …

Leaders from European countries surrounding the North Sea are set to pledge to expand renewable generation in the region to strengthen energy security, at a summit in Ostend, Belgium, on Monday. Seven European Union countries, including France, Germany and the Netherlands, alongside non-EU countries Norway and the United Kingdom, will …

As Europe shuts down its remaining coal power plants and turns away from volatile gas for electricity generation, it is also losing key flexible power supplies that can be switched on at the last minute to keep the lights on during peak hours. To replace those, the European Union hopes …

Oil prices started the week on the decline due to demand fears fueled by weak global economic data and the possibility of more interest rate hikes. International benchmark Brent crude traded at $80.44 per barrel at 09.35 a.m. local time (0635 GMT), a 1.25% decrease from the closing price of …