Oil prices settled more than 2% lower on Saturday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump. Brent crude futures settled down $1.60 or …

The annual solar power generation at PetroChina Tarim Oilfield, China’s third-largest onshore oil and gas field, has surpassed 2 billion kWh as of Sunday. To date, Tarim Oilfield has completed five centralized solar power projects with a total installed capacity of 2.6 million kilowatts. There are also 239 distributed photovoltaic …

BP is closing out the year with a flurry of moves that underline a decisive shift in strategy, marked by major portfolio changes, a leadership transition, and continued momentum in upstream project delivery. The company has agreed to sell a majority stake in its Castrol lubricants business, one of BP’s …

Global trading in oil and precious metals was suspended on Thursday due to the Christmas holiday, leading to subdued market activity and the absence of daily price updates. According to the latest closing data before the holiday, Brent crude settled at $62.29 per barrel, while US West Texas Intermediate (WTI) …

The United States has expressed willingness to cooperate with India in the nuclear energy sector as Asia’s second-largest economy opens its civil nuclear industry to private investment and foreign participation. “We welcome India’s new #SHANTIBill, a step towards a stronger energy security partnership and peaceful civil nuclear cooperation,” according to …

Oil prices rose slightly on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of the government in Abuja. Brent crude futures rose 6 cents, or 0.1%, to $62.30 per barrel at 0456 …

China looks to accelerate solar thermal power development in a new policy roadmap unveiled on Tuesday, with plans to have as much as 15 gigawatts (GW) of such installed capacity by 2030. Costs for the solar thermal power, which differs from solar photovoltaic (PV) as it is used to heat …

Japan will provide investment subsidies of a total of $1.3 billion (210 billion Japanese yen) over five years to companies using only clean power, as the world’s fifth biggest carbon dioxide emitter looks to bolster renewable energy usage. The funds will be available for five years beginning in the 2026 …

Prices for liquefied natural gas in China have fallen to the lowest in five years as demand failed to live up to expectations despite winter being peak season, driven by heating demand. Citing data from a Chinese commodities pricing outlet, Bloomberg reported the wholesale price per million British thermal units …

Norway’s Equinor said it had suspended work on the offshore wind project Empire Wind 1 following a Monday stop-work order issued by the Trump administration. The order relates to a pause on the leases of five offshore wind power projects, declared by the Department of the Interior on national security …