Oil fell for a third day on a challenged Chinese demand outlook and after an industry report pointed to rising US inventories. West Texas Intermediate sank toward $88 a barrel after sliding 4 per cent over the first two days of the week. Swelling virus outbreaks in China show the …

The International Renewable Energy Agency (IRENA), co-founding partner Siemens Energy and 13 companies across all industry sectors have launched the global Alliance for Industry Decarbonization. The new Alliance aims to accelerate net-zero ambitions and the decarbonization of industrial value chains in pursuit of the Paris Agreement climate goals. The new …

The executive arm of the European Union, the Commission, has indicated that a price cap on gas imports is not the best approach to containing energy costs amid a worsening cost-of-living crisis across the bloc. The idea of a price cap on all imports of gas was floated by a …

The CEO of Sina Energy Gostar Holding, affiliated with Mustazafan Foundation, said the holding was planning to build a pipeline for the transfer of petroleum products with support from Russian companies. According to the Mustazafan Foundation, Mohammad Ziyar underlined the details of a document signed during the recent visit of …

Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs. The cost of electricity from onshore wind fell by 15%, offshore wind by 13% and solar PV by 13% compared to 2020. Renewable Power …

India will “benefit” from the proposed price cap on oil, Treasury Secretary Janet Yellen has said, arguing that the United States does not want Russia to “profit unduly” from the war by enjoying prices that are essentially very high due to its Ukrainian invasion. Developing countries like India and China …

Southeast Asian countries can meet their growing energy demand with renewables and cut 75% of their energy-related CO2 emissions by 2050, half of the emissions compared to today. Released by the International Renewable Energy Agency (IRENA) during the ASEAN Energy Ministerial, the 2nd edition of the Renewable Energy Outlook for …

China is struggling to balance its pressing need to shore up energy security with its ambitions to position itself at the forefront of the global clean energy transition. As the world gears up for the 27th annual United Nations Climate Change Conference, more commonly known as COP27, the world’s major …

The National Agency for Petroleum, Gas and Biofuels (ANPG), Exxon Mobil Angola and the Angola Block 15 partners on Monday announced a new discovery at the Bavuca South-1 exploration well. The well encountered 30 m (98 ft) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 kilometers northwest off the …

Oil prices fell on Tuesday as recession concerns and worsening COVID-19 outbreaks in China sparked fears of lower fuel demand, outweighing supply worries. Brent crude fell 31 cents, or 0.3 per cent, to $97.61 a barrel by 0434 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or …