Iran’s Oil Minister Javad Owji has said Russian investors have finalized a contract with Iran for developing seven oil and gas fields worth $4.5 billion. “So far, Russian investors and companies have finalized a contract with Iran for developing seven oil and gas fields worth 4.5 billion dollars, and some …

China’s Nio, the EV maker, has suspended manufacturing activities due to Covid restrictions amid the latest flare-up in infections in the country. “The news that production at Nio’s factories has been temporarily suspended is true and this will have an impact on production and delivery schedules,” a company representative told …

Saudi Arabia, the UAE and Iraq boosted their crude oil shipments to China last month, strengthening their share of a market that Russia has pushed into following the invasion of Ukraine. The Middle East producers loaded almost 4 million barrels a day of crude for Chinese buyers in October. With …

Iran’s Oil Ministry said in a report that Iran and Armenia have renewed a contract for the swap of Iranian gas for Armenian electricity as Armenian Prime Minister Nikol Pashinyan was in Tehran for an official visit on Tuesday, Press TV reported. Deputy Oil Minister Majid Chegeni, who signed off …

More than a decade ago, back in 2010, Scientific American asked, “Is the U.S. Falling Behind in the Clean Energy Race?” In the twelve years following, that question has been answered: unequivocally, yes. While other countries around the world have been developing renewable energy technology as their best hope at …

Russian liquefied natural gas shipments increased in October to nearly a record, illustrating how the world is struggling to curb its dependence on the major supplier ahead of winter. LNG exports from Russia rose 1.1% year on year in October to the highest level since March, according to ship-tracking data …

Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in US crude inventories, suggesting demand is holding up despite steep interest-rate hikes dampening global growth. Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 4.41am GMT, while US West Texas Intermediate …

New G7 and European Union sanctions on Russian oil exports will have a muted impact on flows and global prices according to analysts polled by Reuters, as Russia is set to largely succeed in rerouting its trade eastward. The market is set to be deprived of a maximum of 2 …

The world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term, Organization of the Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais said on Tuesday, November 1. “If we don’t get it right this time, …

China and India will significantly expand their LNG import infrastructure over the next five years with the pair, led by China, set to record the highest LNG regasification capacity additions in Asia. China is set to register the highest liquefied natural gas (LNG) regasification capacity additions in Asia between 2022 …