Oil prices climbed on Monday, extending preweekend gains to hit multiyear highs as global supply remained tight amid solid fuel demand in the US and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. US West Texas Intermediate (WTI) crude futures rose 87c, or 1.0%, to $84.63 …

Saudi Arabia is aiming for a net-zero carbon target by 2060, Crown Prince Mohammed bin Salman said at the Saudi Green Initiative Forum (SGI) on Saturday. The kingdom plans to cut 278 million tonnes of carbon emissions by 2030, he said in recorded comments. This would entail investments of more …

In early October, President Putin assembled top government ministers, leading state officials and representatives of his country’s biggest energy companies to a meeting on climate policies. According to the President, a detailed plan is now elaborated on how to cut carbon intensity in Russian economy. “We are setting an ambitious …

Although the OPEC+ alliance is currently ramping up its collective crude oil production slightly above what they had agreed on, not all members of the group can quickly raise their output, Russian President Vladimir Putin said at an event on Thursday. “Currently, the OPEC+ countries are increasing production volumes, even …

Poland’s PGNiG has announced that the launching of the €9.5bn Nord Stream 2 pipeline will increase the risks to the security of gas supplies to the European Union (EU). The Polish firm alongside its German subsidiary PGNiG Supply & Trading (PST) has filed its position within the certification procedure of …

Saudi Arabia maintained its position as the largest supplier of crude oil to China for the 10th consecutive month in September, Reuters reported, citing China’s General Administration of Customs. Oil supplies from Saudi Arabia to China rose 2% year-on-year (YoY) in September, to 7.96 million tons or 1.94 million barrels …

Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami rapped Washington and the European states for their non-commitment and inaction towards the nuclear deal. Eslami made the remarks in a meeting with Austria’s Ambassador to Tehran Wolf Dietrich Heim on Wednesday. “It was only the Islamic Republic, which …

Indonesia is now overwhelmingly China’s biggest overseas supplier of coal, with shipments hitting a record last month after Beijing loosened curbs on imports to tackle its power crisis. Cargoes of coking, thermal and brown coal from the Southeast Asian nation surpassed 21 million tons in September, from just over 17 …

BP has signed a sales and purchase agreement with a unit of China’s Shenzhen Gas Group Co Ltd to supply piped natural gas for 10 years starting 2023, BP said in a statement on Wednesday. Under the agreement, BP will provide Shenzhen Sino-Benny LPG Co Ltd, a wholly-owned unit of …