Global oil prices closed at more than 12% of weekly gains today, Saturday. Brent crude closed in its last session yesterday, Friday, with a rise of 1.62 dollars, to reach 120.65 dollars, and achieved a weekly profit of 12.72 dollars or 11.79%. US West Texas Intermediate crude also closed up …

While it does not operate any oil and gas fields or LNG plants in Russia, the French oil and gas company has minority stakes in several non-state-owned Russian oil and gas companies. These include Novatek (19.4%), Yamal LNG (20%), Arctic LNG 2 (10%) and TerNefteGaz (49%). TotalEnergies is also a …

An immediate ban on Russian energy imports would trigger an economic recession in Germany and across Europe, German Chancellor Olaf Scholz warned Wednesday. Speaking to the Bundestag, Scholz said Germany would end its energy dependence on Russia in due course but cutting all ties now would hit the German economy …

Global energy-related carbon dioxide emissions rose by 6 per cent in 2021 to 36.3 billion tonnes, their highest ever, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to a new analysis by France-based International Energy Agency (IEA). Thus, …

China’s top economic planner announced a target on Wednesday (Mar 23) to produce up to 200,000 tonnes per year of green hydrogen, a zero-carbon fuel generated from renewable energy sources, by 2025, but envisions a more widespread industry over the long term. The country aims to produce 100,000 tonnes to …

TotalEnergies has announced it will stop purchasing oil and petroleum products from Russia as soon as possible and by the end of 2022 at the latest. In this way, TotalEnergies wanted to address “serious and unfounded” accusations of “complicity in war crimes” for continuing to work in Russia. The energy …

Oil ticked higher ahead of a flurry of high-level diplomatic activity over the month-old war in Ukraine that may see fresh curbs on Russia. West Texas Intermediate climbed toward $110 a barrel after giving up early gains on Tuesday to end slightly lower. European Union and NATO leaders are set …

Faced with high energy prices and the urgent need to break away from Russian fossil fuels, the European Commission is doubling down on the roll-out of renewables and energy efficiency measures. The war in Ukraine has led to a monumental shift in EU climate policy. Within weeks of the invasion, …

Oil prices will jump to $300 a barrel if the West abandons Russian oil, the country’s Deputy Prime Minister and former Energy Minister Alexander Novak said on Monday, adding that “some see it possibly reaching $500 a barrel”. The warning comes as the EU plans to discuss placing an embargo …

China aims to increase renewable power, maintain crude oil output and boost natural gas production, as it seeks to balance energy security and achieve its climate change goals. China, the world’s biggest greenhouse gases emitter, has said its carbon emission would peak by 2030 while it would achieve carbon neutrality …