Speaking at COP28 in Dubai, Saudi Aramco CEO Amin Nasser repeated calls for more upstream investment in the interests of both energy security and to meet growing global demand. Those arguing against fossil fuels have criticized oil and gas industry expansion plans. However, the United Arab Emirates — a fellow …

China’s nuclear power ambitions received a boost Wednesday as the country’s first next-generation reactor entered into commercial operations. China Huaneng Group Co.’s 200-megawatt unit at Shidao Bay is the world’s first high temperature gas-cooled reactor, the National Energy Administration said in a WeChat post. The reactor was given permission to …

G7 leaders are expected to announce on Wednesday a ban on Russian diamonds and measures to manage some 300 billion euros ($323.58 billion) in immobilised Russian central bank assets and the G7 oil price cap, sources familiar with the matter said. G7 leaders are having a virtual meeting later on …

Iran exported non-oil commodities valued at $89.5 million to South Africa during the first seven months of the current Iranian calendar year (March 21-October 22), the spokesman of Trade Development Committee of Iran’s House of Industry, Mining and Trade announced. Ruhollah Latifi also announced that the Islamic Republic imported products …

Turkmenistan picked the lowest possible of hanging fruit at the ongoing COP-28 climate summit in Dubai by announcing it will sign up to the Global Methane Pledge, a voluntary agreement that commits adherents to cut methane emissions by 30 percent by 2030. In his speech to the UN Climate Change …

Oil prices were mixed in early trade on Wednesday as markets sought direction amid uncertainties over OPEC+ supply cuts and a surprise build in US crude oil inventories that cast doubts on the country’s demand outlook. International benchmark crude Brent traded at $77.28 per barrel at 9.23 a.m. local time …

The European Commission will recommend a three-year delay for EV tariffs traded with the UK, Bloomberg sources suggested on Tuesday. Starting in 2024, the current Brexit deal calls for EVs transported between the UK and EU to be slapped with a 10% tariff if less than 45 percent of the …

Today’s electric vehicles are predominantly powered by nickel-manganese-cobalt (NMC) lithium-ion batteries. However, the inclusion of cobalt in this type of batteries has been considered as problematic due to its anticipated scarcity as well as associated supply chain risks related to its single source, human rights and mining practices. Now, a …

Russian President Vladimir Putin is scheduled to visit the United Arab Emirates and Saudi Arabia on Wednesday. The talks will focus on bilateral relations and the Israel regime-Hamas war, Kremlin spokesman Dmitry Peskov said on Tuesday. Peskov said that discussions on oil market cooperation will be on the agenda of …

Saudi oil giant Aramco’s Chief Executive on Monday told a panel on the sidelines of the COP28 climate summit in the UAE that that all the renewable energy coming to market is still not enough to handle additional demand. Aramco CEO Amin Nasser added that more investment in the oil …