Emergency energy price measures implemented by the European Union in 2022 will not be extended further, the European Commission said on Monday, bringing to an end hundreds of billions of dollars in tax cuts, subsidies and other incentives. Citing electricity prices that have dropped to under 80 euros per megawatt-hour …

Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key projects in Iran’s close ally Iraq is in the offing. The problem with this idea is that it is dependent on two highly unpredictable elements. The …

Following a suspense-filled weekend in Vienna, where OPEC oil ministers attempted to downplay media attention, global oil markets remain uncertain about the direction of oil prices. The recent “surprise” oil production cut announced by Saudi Arabia’s Minister of Energy, Prince Abdelaziz bin Salman, has failed to restore confidence in the …

Iran will not sign a nuclear deal until all files at the International Atomic Energy Agency are resolved, the advisor to the Iranian negotiating delegation in the nuclear talks said. Seyyed Mohammad Marandi told Al Mayadeen that “Western governments were lying from the very beginning” about Iran’s nuclear activity, stressing …

The Japanese government on Tuesday decided on a plan to generate 15 trillion yen ($107 billion) of investment in the supply of hydrogen over the next 15 years from the public and private sectors in a push to increase its use and speed up decarbonization. Under the revised Basic Hydrogen …

Oil prices edged lower early on Tuesday, coming off gains made the previous day as concerns about the global economic backdrop outweighed supply worries raised when Saudi Arabia announced its biggest output cut in years. Brent crude futures slipped 27c to $76.44 a barrel by 4.11am GMT. US West Texas …

Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group seeks to boost flagging oil prices. Saudi’s energy ministry said the country’s output would drop to 9 million barrels per day (bpd) in …

Crude oil prices rose by more than 1% in early trade today following the OPEC+ meeting that took place Sunday. At that meeting, Saudi Arabia said it would voluntarily cut its oil production by another 1 million barrels daily next month in a bid to prop up global oil prices. …

Getting 170-plus countries to agree on a global treaty to fight plastic pollution was never going to be easy. But negotiators didn’t think clearing the first hurdle would be this hard. A second round of U.N. talks for an international plan to tackle plastic pollution limped toward its conclusion Friday, …

The International Energy Agency (IEA) announced in its latest report that Iran’s crude production volume reached 2.75 million barrels per day (bpd) in April. According to the report, Iran’s daily oil production increased 60,000 barrels of oil per day (bpd) in in the fourth month of 2023, according to which, …