When news first broke a few years ago that Russia’s state nuclear energy company was working on a floating nuclear power plant, some took it as a joke. Others mocked it as the worst idea ever. But it turns out it wasn’t such an outlandish idea after all. The Akademik …

Turkey has threatened to block any “unauthorized” search for gas and oil in what it considers its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights to Exxon Mobil and Qatar Petroleum, following a statement issued by the Turkish Foreign Ministry yesterday, 5 December …

The Energy Efficiency Hub – a global platform for collaboration aimed at delivering the social, economic and environmental benefits of more efficient use of energy – has been launched at an event hosted at the International Energy Agency (IEA) in Paris. The Hub’s initial 16 members are Argentina, Australia, Brazil, …

Oil rose after Saudi Arabia boosted the prices of its crude, signalling confidence in the demand outlook despite the spread of the Omicron variant of the coronavirus. Futures in New York advanced more than 2 per cent to trade near $68 a barrel. The Kingdom increased its oil prices for …

Saudi Arabia raised oil prices for buyers in Asia and the U.S., days after OPEC and its allies made a surprise decision to increase output. The move signals that the world’s biggest crude exporter still sees strong demand in its two main markets, despite the spread of the omicron variant …

Saudi Arabia’s state oil and gas corporation Saudi Aramco said that it signed five agreements with leading French companies including a deal on hydrogen-powered vehicles with Gaussin, during French President Emmanuel Macron’s visit to the kingdom. The agreements were concluded in the city of Jeddah during the workshops that were …

U.S. imports of crude oil from Iraq averaged 140 thousand barrels per day (bpd) last month, the Energy Information Administration (EIA) said on Saturday. In its monthly report on U.S. oil imports, EIA said that the U.S. imports from Iraq grossed 4.192 million barrels in November at a rate of …

The UAE’s clean energy firm Masdar and France’s Engie plan to invest $5 billion to develop 2 GW of renewable and hydrogen projects by 2030 as OPEC’s third biggest producer seeks to implement its net zero emissions pledge by 2050. The agreement between Masdar and Engie was signed during French …

GCC economies are expected to return to an aggregate growth rate of 2.6% in 2021 due to stronger oil prices and the growth of non-oil sectors, and will accelerate into 2022 as OPEC+-mandated oil production cuts are phased out and higher oil prices improve business sentiment and attract additional investment, …

The world’s wind project pipeline increased significantly from the second quarter and fourth quarter of this year as efforts to mitigate climate change spur the adoption of renewables, according to a report by Fitch Solutions. The pipeline of wind projects has risen sharply to 423 gigawatts from 320 gigawatts in …