The European Union needs to quickly intervene in its gas and energy markets, including by imposing a price cap on wholesale gas, to avoid a spiral of deindustrialization and social unrest amid sky-high energy prices, Belgium’s Prime Minister Alexander De Croo told the Financial Times in comments published on Thursday. …

Senior officials of the Islamic Republic of Iran and Russian Federation expressed their readiness to enhance bilateral cooperation in all fields especially in economic areas in spite of sanctions imposed against the country. Speaking a meeting with managers of 15 high-ranking Russian companies in various fields of energy, oil and …

Tokyo Institute of Technology scientists developed a polymer-based photocatalyst for CO2 reduction that exhibits unprecedented performance. Made from abundant elements and requiring no complex post-synthesis treatment or modifications, it could pave the way for a new class of photocatalysts for efficiently converting CO2 into useful chemicals. The idea is to …

Iran’s oil minister said on Thursday that oil and gas swap between Iran and Russia would turn Iran the hub of energy in the region. Javad Owji, who accompanied Iran’s First Vice-President Mohammad Mokhber in Moscow to attend the second meeting of the Caspian Economic Forum (CEF), said that Iran …

Concerns over tight oil supplies and soaring inflation have intensified after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy. The move has widened a diplomatic rift between the Saudi-backed bloc and Western nations, which worry higher energy prices …

The head of French energy major TotalEnergies said Wednesday (5 October) that a possible price cap on Russian oil over the Ukraine war would benefit Russian President Vladimir Putin. The group’s chairman and CEO Patrick Pouyanné made the remarks at the Energy Intelligence Forum industry gathering in central London. “Honestly, …

Malaysia will curb liquefied natural gas shipments to Japan this winter after a pipeline leak disrupted exports, another hit to already strained global supplies of the power-station fuel. Petroliam Nasional Bhd. has made a request to reduce contracted deliveries to several Japanese customers through the year-end, according to traders with …

The US government may soon reduce sanctions on Venezuela, allowing Chevron and other oil companies to resume oil drilling there. This comes just hours after OPEC+ countries announced a cut in oil supply by two million barrels per day (bpd). A report by the Wall Street Journal (WSJ) said that …

The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising, Trend reports. Washington is arguing to OPEC+ nations that economic fundamentals do not support …

EU ambassadors on Tuesday night (4 October) reached a political agreement on the bloc’s new round of Russia sanctions, including an oil price cap, which earlier had been opposed by a few seafaring member states. The draft measures agreed on Tuesday that will form the eighth package of sanctions since …