Oil prices rose on Monday, recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though persistent anxiety over surging cases of the Delta coronavirus variant kept sentiment cautious. Brent crude futures climbed $1.16, or 1.8%, to $66.34 a barrel by 6.30am, after …

Norway has long been one of the world’s leaders in exports of energy resources. While over the decades, the oil and gas revenues have been the foundation for the so-called Oil Fund, the world’s largest sovereign wealth fund, demands for a complete halt in oil and gas exploration have of …

IKEA, the world’s biggest furniture brand, is branching out into selling renewable energy to households, starting with home market Sweden in September, Trend reports citing Reuters. Ingka Group, the owner of most IKEA stores worldwide, said households would be able to buy affordable renewable electricity from solar and wind parks, …

Europe wants to achieve climatic neutrality in 25 years and will need much less gas than today, German Chancellor Angela Merkel said on Sunday after talks with Ukrainian President Vladimir Zelensky. “Europe will need to achieve climatic neutrality step by step by 2050,” she said. “It means that in 25 …

Chancellor Angela Merkel reinforced her pledge to ensure Russian gas flows through Ukraine, an economic lifeline for the former Soviet republic threatened by the Nord Stream 2 gas pipeline linking Russia to Germany. A gas-transit accord between Russia and Ukraine must be extended “as quickly as possible,” Merkel said at …

President Ebrahim Raisi said on Sunday that there should be mechanisms to expand and facilitate non-oil exports and bring back proceeds to the domestic economy. Speaking during a session of Economic Coordination Headquarters, Raisi pointed to currency obligations arising from exports, saying that barriers against fulfilling these obligations should be …

The global market for floating solar panels is set to more than quadruple by 2025, a recent report has revealed. The report published by Korea Energy Economics Institute on Sunday estimates that the total power generation capacity of floating solar farms around the globe had surpassed 3 gigawatts as of …

Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income. The Kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first half …

US energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to the wellpad over the past year. The oil and gas rig count, an early indicator of future output, rose three …

Turkey expects that the supplies of natural gas via the TurkStream pipeline will be increased, President Recep Tayyip Erdogan told Russian President Vladimir Putin during their talks by phone on Saturday. “President Erdogan pointed out that Turkey and Russia believe the cooperation in the economic sector to be crucial. He …