About a dozen Japanese companies, including major shipbuilders, have invested a total of about 10 billion yen ($72 million) in a British start-up developing floating offshore nuclear power plants, sources familiar with the matter said Wednesday. Onomichi Dockyard Co. and Imabari Shipbuilding Co. are among the companies that provided funds …

Cooler temperatures this week and a dip in available wind power this month are boosting the demand outlook for June for U.S. natural gas, leading to nearly 3% price gains on Wednesday. At 9:45 a.m. EST on Wednesday, U.S. natural gas futures were trading up 2.93% at $2,389 per million …

The Kurdistan Regional Government in northern Iraq has lost more than $1.5 billion since oil exports to Turkey were stopped, according to a report published on Tuesday by the US financial website Zero Hedge. Oil production in the region under KRG rule has continued to decline, extending a stoppage that …

Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway. Should major economies, including the U.S., avoid deep recessions, the foundations for a rally across the commodity complex remain intact, Goldman Sachs analysts wrote …

Union minister for petroleum and natural gas Hardeep Singh Puri on Wednesday said that India will turn into as a major green hydrogen hub and exporter by 2040, catering to both domestic and global demand. Speaking at the CII Annual Session 2023, the minister said that the energy demand in …

Australia and India on Wednesday pledged to work closer to advance renewable energy, increase cooperation in the critical minerals sector, and study green hydrogen development during a visit of Indian Prime Minister Narendra Modi to Australia. “Renewable energy was once again a focus and an important topic in our discussions,” …

The Shell-led Basrah Gas Co. (BGC) will start up a long-delayed project in Iraq next week that should slash the high volumes of associated gas flared at the country’s giant southern oil fields and move it a step closer to ending costly gas imports from Iran. The $3 billion project …

The value of non-oil trade exchanges between Iran and China has reached $5.23 billion in January-April, 2023, according to figures by the Chinese customs office. Trade between Iran and China had increased by 4% in value terms in January-April compared to the same period last year, the figures showed. The …

Iraq is waiting on a final answer from turkey to resume its northern oil exports through the Mediterranean port of Ceyhan, the country’s oil minister said Tuesday. Hayan Abdel-Ghani’s remarks come as oil production in Iraq’s semi-autonomous Kurdistan Regional Government (KRG)-ruled region continues to drop as export flows to Turkey’s …

Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country’s retail fuel market as it struggles to resolve a worsening energy crisis amid an unprecedented economic upheaval. The contract agreement would enable Sinopec 386, -0.39% to import, store, distribute and sell …