U.S. crude oil production has overwhelmingly exceeded earlier forecasts and has grown at a much faster pace this year, offsetting much of the OPEC+ efforts to push up prices by coordinated supply reductions. U.S. production growth is expected to continue into the new year, thanks to further gains in efficiency …

Spain has just confirmed that it will go ahead with plans to close all its nuclear plants by 2035, while Europe remains divided on whether nuclear energy should be part of the climate change solution. The management of radioactive waste and dismantling of the plants will cost about 20.2 billion …

Russia has decried U.S. sanctions targeting the country’s massive Arctic LNG 2 project, saying they are unacceptable and will undermine global energy security. Located in the Gydan Peninsula in the Arctic, the LNG project is considered key to Russia’s efforts to boost its global LNG market share from 8% to …

It looks like a step forward has been taken in the longstanding task of figuring out energy and cost efficient ways of desalinating ocean water. According to ABC, scientists at Tianjin’s Nankai University have innovated a solar-powered desalination system that harnesses smart DNA hydrogels for freshwater production. The method was …

Crude oil inventories in the United States rose this week by 1.837 million barrels for the week ending December 22, according to The American Petroleum Institute (API), after recording a 939,000-barrel build in crude inventories in the week prior. API data shows a net build in crude oil inventories in …

The recent easing of sanctions between the United States and Venezuela, marked by pivotal legal settlements and new commercial arrangements, represents a significant turning point for the global energy industry. These developments, particularly the resolution of disputes involving Petróleos de Venezuela S.A. (PDVSA), signal the reinvigoration of Venezuela’s oil and …

Russia’s biggest liquefied natural gas producer began production at its Arctic LNG 2 project — despite US sanctions — in a move that could provide some relief to the tight global market for the fuel. The first train of the Novatek PJSC-led Arctic LNG 2 project “has actually started operating,” …

Iranian Oil Minister Javad Oji has expressed Iran’s readiness for exporting oil products and technical and engineering services to Nicaragua, Shana reported. The minister made the remarks in a meeting with visiting Nicaraguan Foreign Minister Denis Moncada on Monday, saying Iranian companies are prepared to help Nicaragua implement its refinery …

Oil prices were little changed on Wednesday as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions. Brent crude futures dipped 5 cents, or 0.1 per cent, at $81.02 a barrel by 0415 GMT, while U.S. West …

Gazprom PJSC has connected 842,000 new users to Russia’s natural gas infrastructure during 2023. The company said in a media release that in 2023 Russian residents have signed some 1.081 million contracts with national gas infrastructure expansion operator Gazprom Gazifikatsiya, regional gas infrastructure expansion operators and independent gas distribution entities …