Nigeria is losing $1,000 on every barrel of crude oil it exports, due to a lack of the added value from refining, Nigerian media quoted energy policy expert Henry Adigun as saying at a conference. This loss is no longer sustainable, Adigun said. The Nigerian federal government is supporting local …

U.S. electric power plants held a total of 138 million short tons of coal at the end of May, the highest level since the slump in power and coal demand at the start of the pandemic in early 2020, the U.S. Energy Information Administration (EIA) said on Monday. In recent …

U.S. oil production dipped by 61,000 barrels daily in May, the EIA reported this week, confirming what many already expected: continued stringent discipline among drillers. But those expectations may have been misleading because now some producers are planning output boosts—thanks to cost reductions. Last year, shale drillers surprised pretty much …

The world is rapidly ramping up its renewable energy capacity in line with ambitious climate pledges. While this is great for the planet, the accelerated transition to green brings new challenges. Many sectoral experts are now concerned about what the rise in electricity use from renewable sources could mean for …

Saudi Aramco raised the official selling prices of its light crude for Asian clients for the first time in three months, with the September price for flagship Arab Light up by $0.20 per barrel for September delivery. Aramco kept Arab Medium and Arab Heavy crude prices unchanged for Asian buyers. …

Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world’s largest oil producing region. Share markets also tumbled across Asia as U.S. recession worries sent …

The property sector crisis and the rise of LNG use in trucking have weighed on China’s diesel demand this year, dampening the prospects of oil demand growth in the world’s top crude importer, which has been a key driver of global demand growth for years. Diesel demand in China is …

Iran’s Ambassador to Russia Kazem Jalali has described the Iran-Russia gas transfer as a win-win deal. In an interview with IRNA which was published on Sunday, Jalali said that the landmark project will benefit both sides. In the past, there were some speculations that Tehran and Moscow were rivals when …

Iraqi oil exports to the United States increased last week, according to the US Energy Information Administration (EIA) on Sunday. The EIA reported that the average US crude oil imports from nine key countries reached 5.554 million barrels per day (bpd) last week, down by 420,000 bpd from the previous …

Demand for critical minerals such as copper, cobalt, lithium and nickel is soaring. These raw materials are used in a range of new technologies, from electric cars to wind turbines, which are becoming ever more important as the world moves towards a green transition. Experts forecast that this trend is …