Global metal manufacturing is already set to change in 2023. Indeed, the European Council and European Parliament recently reached a provisional agreement over the Carbon Border Adjustment Mechanism (CBAM). This would impose new tariffs on materials from carbon-intensive industries imported into the 27-member bloc. According to members of the Committee …

QatarEnergy and Japan’s Qatar Petroleum Development Company (QPD) have signed a new agreement for the continued development and production of the Al-Karkara and A-Structures oil fields in Qatar. This new five-year agreement, which commenced on December 23, succeeds the development and production sharing agreement signed in December 1997. Under the …

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports such as liquefied natural gas (LNG), the Nikkei newspaper said on Saturday (Dec 24). Tokio Marine & Nichido Fire Insurance Co, Sompo Japan Insurance Inc …

Turkey on Friday accused Cyprus of increasing tension in the Eastern Mediterranean after a consortium of Italian and French energy companies found more natural gas off the island earlier this week. Cyprus’ hydrocarbon activities “have been carried out unilaterally,” and “violate the rights of the Turkish Cypriots, who are one …

Bulgaria’s acting energy minister arrived in Istanbul for talks that he hopes will lead to an agreement on long-term access to liquefied natural gas (LNG) terminals in Turkey and gas transit to its border. Executives of Bulgaria’s state gas company Bulgargaz and gas grid operator Bulgartransgaz are also taking part …

To say that the six countries that make up the Gulf Cooperative Council (GCC) live and breathe hydrocarbons is hardly an exaggeration. About 60years ago, the average city in Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Qatar, Bahrain, and Oman was home to maybe a few thousand people; fast …

Deputy Prime Minister Alexander Novak has said that Russia is willing to cut its crude oil production, if necessary, as part of its response to the G7 price cap of $60 per barrel on the country’s crude exports. Novak told the Rossiya 24 television channel that output could fall by …

Shell Petroleum has agreed to pay €15 million ($15.9 million) as settlement to Nigeria over oil pipeline leaks in the country’s Niger Delta in the early 2000s. In a statement on Friday, Shell said it had negotiated the settlement for the benefit of the Oruma, Goi and Ikot Ada Udo …

Around the globe, energy companies and governments are racing to develop their hydrogen storage capacity in an attempt to boost their energy security and reduce their reliance on natural gas. As investment into the research and development of hydrogen technologies increases, several world powers are developing better storage solutions to …

Oil rallied to a three-week high and clinched a second straight weekly gain after Russia warned it may cut output by as much as 700,000 barrels a day in response to sanctions on the nation’s crude. With trading volumes dwindling heading into the Christmas holiday, Russia’s threat outweighed the impacts …