Australia is to become the seventh country in the world to introduce nuclear-powered submarines to its naval fleet, as part of a newly brokered deal between the United States, the United Kingdom and Australia (AUKUS), reports Statista. The US has said it will sell Australia three US Virginia-class nuclear-powered submarines …

Tehran and Riyadh have exchanged views regarding OPEC and OPEC+ policies to ensure stability in the world oil markets, Iran’s oil minister said. “All decisions concerning global oil markets over the last few months have been made by pooling minds with OPEC’s de facto leader and closer collaborations are on …

Iran’s production of oil increased in February by an average of 17,000 barrels per day (bpd), according to the latest figures by the Organization of the Petroleum Exporting Countries (OPEC). Excerpts of the report published by IRNA on Tuesday showed that Iran’s average oil output in February was 2.571 million …

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz confirmed that the OPEC+ agreement in October 2022, which lowers production by two million barrels per day (bpd) until 2023-end, will continue until December 23, 2023. The minister said in an interview with Energy Intelligence that the impact of the …

Aramco, one of the world’s leading integrated energy and chemicals companies, has joined forces with Linde Engineering, a global leader in the production and processing of gases, to develop a new ammonia cracking technology. The collaboration between the two companies will see Linde Engineering and Aramco’s experience and capabilities being …

After Russia’s invasion of Ukraine in March 2022 set off a rush for gas resources worldwide, Europe picked Africa as an alternative supply market for natural gas. European energy ministers and other political leaders toured North African countries and gas initiatives in both East and West Africa received renewed support. …

Europe feels pretty strained lately, torn between the cost of living crisis, the fossil fuel prices crisis and increasing climate impacts. And we have seen European capitals at work trying to answer to immediate crises, while sometimes forgetting that the quick responses should pave the way for the longer transformation …

Oil drillers in China set a new record for well depth, drilling 9,396 meters into the ground for what has become the deepest oil well in Asia, Chinese media have reported. The record well is part of a new phase in the development of an oil field in the Taklamakan …

The European Union will overhaul its electricity market in a way that encourages the development of more wind and solar installations and discourages more fossil fuel generation. According to a draft of the proposal seen by Reuters, the overhaul will push fixed-price power contracts designed to protect consumers. The proposal …

Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures were down 82 cents, or 1 per cent, at $79.95 a barrel at 0700 GMT. U.S. …