Countries need to expand manufacturing of solar panels from their current concentrated base in China to ensure secure supply and meet targets for cutting planet-warming carbon emissions, the International Energy Agency said on Thursday. The world needs to double its current capacity to produce the “key building blocks” of solar …

Asian petrochemical markets are in a jam, with price bearishness across the board as recession risks continue to mount. Elevated concerns on the economic front, from the fallout of the Russia-Ukraine conflict and sanctions on Russia, plus fears of upward spiralling inflation continue to weigh on sentiment. The increase in …

Royal Dutch Shell will build the largest renewable energy plant in Europe, as its subsidiaries Shell Nederland B.V. and Shell Overseas Investments B.V. have made a final investment decision on the project, Trend reports with reference to the company. Reportedly, Holland Hydrogen will be operational in 2025. “The 200MW electrolyser …

European Commission chief Ursula von der Leyen has said the European Union needs to make emergency plans to prepare for a complete cut-off of Russian gas in the wake of the Kremlin’s war in Ukraine. The EU has already imposed sanctions on Russia, including on some energy supplies, and is …

The Iranian foreign minister says if the United States wants a lasting nuclear agreement with Iran, it has to stop insisting on its unilateral demands. Hossein Amirabdollahian wrote on his twitter account on Tuesday that he spoke with the EU Foreign Policy Chief Josep Borrell on the phone discussing the …

Asian stocks slipped and the dollar stood by a two-decade high on the euro on Wednesday as investors’ fears deepened that the continent is leading the world into recession, while oil and European equity futures attempted to steady after a slide. Brent crude futures bounced 1.4% in morning trade to …

On behalf of its partners in the Bacalhau oil field, Equinor Brasil has awarded Valaris a 540-day drilling contract to commence in 2023. The Valaris DS-17 drillship will be used to drill an appraisal well, cap a former exploration well and conduct additional drilling scope work in Brazil. It is …

Mohammad Barkindo, a Nigerian politician and the secretary-general of oil group OPEC, has died at the age of 63. The head of Nigeria’s National Petroleum Corporation, Mele Kyari, announced the news in a tweet Wednesday, which was confirmed by two sources at OPEC. “We lost our esteemed Dr Muhammad Sanusi …

Russia’s lower house of parliament approved on Tuesday amendments in the country’s tax code that would slap a windfall tax on Gazprom of the equivalent of $20 billion between September and November, which will boost Russia’s tax revenue income. The amendment still needs to be approved by the upper house …

Norwegian offshore workers have begun a strike that will reduce oil and gas output, according to the union leading the industrial action. The strike, in which workers are demanding wage increases to compensate for rising inflation, came on Tuesday amid high oil and gas prices, with supplies of natural gas …