Despite current challenges, Equinor still believes in the long-term prospects of offshore wind and will take part with $939 million in the $9.4-billion rights issue of the world’s offshore wind developer Ørsted, in which the Norwegian energy major holds 10%. Ørsted last month announced plans for a $9.4 billion (60 …

Russia kept its number-one spot as the biggest crude oil supplier to India in July, despite U.S. pressure on India over its continued imports of Russian crude. Amid difficult U.S.-India trade talks, the Trump Administration has singled out India to punish as a buyer of Russian crude. After weeks of …

The United States pumped an all-time high of 13.3 million barrels per day (bpd) of crude oil in 2024, the Energy Information Administration (EIA) said in its Petroleum Supply Annual released on Friday. That tops the previous record of 12.9 million bpd set in 2019, cementing the U.S. as the …

A record smashing 26MW offshore wind turbine has been successfully installed in China by Dongfang Electric, which has now wrestled the claim of having the world’s most powerful installed turbine from Siemens Gamesa. Dongfang announced today that it has installed the prototype machine at a testing and certification base, saying …

Hyundai Motor said Sunday sales of its face-lifted Nexo hydrogen-powered sport utility vehicle (SUV) have reached nearly 7,000 units since its launch in June, far outpacing its predecessor. Sales of the upgraded hydrogen fuel cell electric vehicle (FCEV) model came to 6,767 units in the June-August period, far surpassing the …

China accounts for $65-70 billion worth of Iran’s foreign trade each year, according to a senior Iranian businessman who says that China’s oil purchases from Iran have reached record levels. Majid Reza Hariri, who chairs the Iran-China Joint Chamber of Commerce, said on Saturday that up to 50% of Iran’s …

Europe’s biggest gas supplier, Norway, is starting the annual maintenance on gas fields, processing plants, and pipelines, which will see Norwegian gas flows slashed through the middle of September. Some planned works have already begun this week, including the processing plant at Nyhamna. Others begin this weekend, with most maintenance …

ords in 2025 Exxon projects global natural gas demand will rise more than 20% by 2050 from 2024 levels, driven by coal displacement in industry and growing electricity use in emerging markets, according to a Reuters report. The outlook underpins Exxon’s long-term strategy, including an 18% production increase over five …

Jet fuel imports from Asia to Europe reached a record this summer as prices subsided from 2022 highs, the Financial Times has reported, noting the bulk of the record imports came from China and South Korea, cementing their dominance in fuel markets. Citing data from energy analytics provider Vortexa, the …

Pakistan is undergoing an energy revolution fuelled by a sharp rise in solar-plus-battery systems. This rapid evolution and decentralization of power grids is helping to shore up the nation’s energy security and meet international decarbonization pledges. However, while the solar boom is helping to keep the lights on for many …