The leader of the non-OPEC oil producers in the OPEC+ alliance, Russia, is the biggest beneficiary of the 2 million barrels per day (bpd) cut announced this week, as Russia will not cut any output while the price of oil is set to rise in the coming months, analysts say. …

The global electric vehicle (EV) battery market is expected to grow from $17 billion to more than $95 billion between 2019 and 2028. With increasing demand to decarbonize the transportation sector, companies producing the batteries that power EVs have seen substantial momentum. Visual Capitalist’s Bruno Venditti and Sabrina Lam have …

Germany is set to soon unveil measures to alleviate the impact of soaring energy prices on consumers, with steps likely to include a one-off payment and subsidizing more than half of the expected gas consumption, sources close to the talks at the German expert commission told Reuters on Monday. The …

On September 21, Chinese Foreign Minister Wang Yi met with Georgian Prime Minister Irakli Garibashvili in New York, during the United Nations General Assembly, and stressed the importance of the Middle Corridor (or Trans-Caspian International Transport Route, “TITR”), which runs directly through Georgia, for regional transit. Due to the war …

Russian President Vladimir Putin has signed a decree to transfer operations of the Sakhalin-1 oil and gas project in the Russian Far East to a new operator, reported Bloomberg News. The move would result in American energy firm Exxon Mobil’s final withdrawal from Russia and would give authority to the …

Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday (Oct 10). The producer is keeping supplies to Asia steady despite likely production …

OPEC+, a group of 24 OPEC and non-OPEC oil producers, announced sharp output cuts Wednesday in a bid to facilitate the recovery of crude prices. The move comes despite calls from Washington to raise oil production to prop up the global economy. Saudi Arabia, the key OPEC member and the …

Qatargas, a liquefied natural gas (LNG) production unit of state-owned QatarEnergy, has delivered a commissioning LNG cargo to China’s newest LNG terminal, the Jiangsu-Binhai LNG terminal, owned and operated by China National Offshore Oil Corporation (CNOOC). The cargo was loaded in Ras Laffan on 10 September on the 216,000 cubic …

The Iranian deputy oil minister says Russia’s state-run oil company Gazprom is going to develop six oilfields and two gas fields in the Islamic Republic. Ahmad Assadzadeh added that Iranian and Russian officials have agreed during talks in Moscow to fast-track plans to finalize deals to this end. Assadzadeh expressed …

A senior official at the Trade Promotion Organization (TPO) of Iran has announced expansion of cooperation in holding exhibition between Tehran and Moscow. Rahmatollah Khormali, director of department of Central Asia, Russia and Caucasus at TPO, made the remarks in a meeting held in Moscow with the managing director of …