Oil prices edged lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 41 cents, or 0.5%, to $80.28 a barrel by 10:36 …

Russia is extending its ban on gasoline exports from October to the end of December 2024, as it seeks to keep domestic supply stable amid seasonal demand and scheduled repairs at refineries, the Russian government said on Wednesday. In the autumn of 2023, Russia banned exports of diesel and gasoline …

Saudi Arabian Oil Co. (Aramco) is partnering with a Saudi-based research university and investing millions of dollars in future projects. The national oil company signed a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST) to support research that aims to deliver environmental and commercial benefits, …

Azerbaijani officials have green-lighted the resumption of operations at a controversial gold mine following a more than year-long hiatus due to public protests over pollution concerns. Trouble at the mine near the village of Soyudlu in western Azerbaijan’s Gadabay District began in mid-2023, when its operator, Anglo Asian Mining, sought …

BP has signed a deal with US space agency NASA which could see its technology used on Mars or the moon in future. Under the agreement, BP America and NASA will share digital technologies and technical expertise from “decades of experience operating in harsh environments”. This includes digital models and …

Kazakhstan began to supply oil to Europe via Druzhba (Friendship) system. The Ministry of Energy of Kazakhstan confirmed the information. According to the ministry, Eni (Italian investor of Kashagan) began supplying oil to Europe via Druzhba system. It is specified that AGIP Caspian Sea (subsidiary organization of Eni in Kazakhstan) …

Chinese authorities have stated that Newnew Shipping’s container ship Newnew Polar Bear was responsible, albeit by accident, for damaging the Balticconnector subsea gas pipeline between Estonia and Finland last year. According to a report by the South China Morning Post, Chinese authorities have conducted an internal investigation and forwarded the …

As uncertainty over global crude oil demand continues to hang over the market, even one of its most bullish forecasters – the Organization of Petroleum Exporting (OPEC) – has now lowered its demand growth forecasts for both 2024 and 2025. For nearly a year, both it and the think-tank International …

European benchmark natural gas prices have dropped from their highest level this year as concerns about a possible halt to Russian pipeline supplies via Ukraine have eased. The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were up by 0.3% as of 11 a.m. local time in …

Brent and U.S. crude oil futures fell on Tuesday as traders grew less nervous about the potential for a wider war in the Middle East, with Iran yet to act on threats to retaliate on Israel for assassination of a Hamas official in Tehran. Benchmark Brent crude futures settled down …