LG Chem Ltd. and Eni SPA have signed a joint venture agreement for a planned biorefinery in South Korea, toward a final investment decision expected later this year. The project is planned to rise in the town of Daesan on the west coast of the country where local company LG …

Russian Sakhalin Energy wants to increase long-term contract prices, threatening to drive up energy costs in South Korea and Japan. Sakhalin Energy sees a tighter gas market now than it did earlier. Accordingly, the talks in North Asia began late last year as part of a regular price review that …

TotalEnergies has bought a majority stake in two offshore wind projects in Denmark from European Energy and both companies agreed to cooperate on offshore wind auctions in the Scandinavian nation. Under the agreement, the French energy company takes an 85% stake in the 240 MW Jammerland Bugt project and a …

China has become a powerhouse in clean energy, and has overtaken the EU on clean technology research, a paper prepared for the European Commission has shown. “China has caught up with the EU in R&D expenditure. While Chinese R&D intensity more than doubled since 2000, EU R&D intensity grew much …

Russia’s reliance on four, mainly Asian, countries to import its coal has increased since some countries implemented sanctions against Russia after it invaded Ukraine, according to Global Trade Tracker data. This trade shift corresponds with increased coal exports from the United States to Europe and EU sanctions that went into …

Libya’s National Oil Corp. (NOC) announced Sunday the lifting of a force majeure declaration for Sharara, two weeks after pausing production citing a blockade by residents. The NOC did not provide further details besides saying in a statement on its website that it was “declaring lifting of force major and …

After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves …

The value of Iran’s exports to Pakistan increased by 13 percent in 2023 as compared to 2023, according to the Pakistan Ministry of Commerce. The data released by the Pakistan Ministry of Commerce indicate that Iran exported non-oil commodities worth $944 million to its neighbor Pakistan in the past year, …

China is taking advantage of the slide in oil prices, which began in October, to ramp up its stockpiling of cheaper crude. In December alone, China is estimated to have sharply boosted the volume of crude going to storage for the highest rate of stockpiling in six months, according to …

Ukrainian forces conducted a drone attack on Russia’s largest Baltic port over the weekend. The operation, which used two long-range drones, resulted in a massive fire at Novatek’s gas terminal with all staff evacuated. Four tankers were moored at the port at the time of the attack. They quickly left …