Oil prices continued their decline on Thursday amid a high inventory build-up in the US and rising numbers of Covid-19 Delta cases. Brent, the international benchmark, fell 0.11 per cent to trade at $70.30 per barrel at 11.19am UAE time. West Texas Intermediate, the main US gauge, was flat at …

The world’s largest oil exporter, Saudi Arabia, raised on Wednesday its official selling prices for crude oil loading for Asia in September in a widely expected move tracking stronger Middle East oil benchmarks. Saudi oil giant Aramco lifted its official selling price (OSP) for its flagship Arab Light grade for …

Recovering LNG demand, buoyed by China’s record-high LNG imports and low storage levels in Europe will combine to make 2021 a “remarkable year for LNG shipping”, according to a Drewry Maritime Research senior lead analyst Aman Sud. “LNG shipping rates, which started the year on a high are expected to …

Russia’s gas giant Gazprom boosted its natural gas exports to Europe by 23 percent annually in January to July 2021, Gazprom Export said this week. In the first seven months of this year, Gazprom’s gas sales to Turkey and Europe reached 115.3 billion cubic meters, up by 23.2 percent annually, …

Russia’s permanent envoy to international organizations based in Vienna Mikhail Ulyanov voiced hope that Iran will back OPEC+ efforts to maintain stability on the oil market after sanctions against Tehran are lifted, he wrote on Twitter on Wednesday. “Hopefully after lifting of sanctions and restoration of its oil export Iran …

The world’s biggest solar company is tapping the hydrogen sector to reduce its global carbon footprint further. China’s Longi Green Energy Technology Co. has set up a stand-alone unit for hydrogen-related equipment and aims to make this clean energy more affordable. “There is no doubt that renewable energy will help …

Oil declined for a third day as the coronavirus spread in Asia, particularly China, continued to threaten demand. West Texas Intermediate futures slumped 1.9%, after retreating 4.6% in the previous two sessions. The delta strain of Covid-19 has been detected in almost half of China’s 32 provinces in just two …

Saudi Arabia raised oil for prices for buyers in Asia and the U.S. for September in a sign the world’s largest crude exporter sees demand continuing to recover despite a surge in coronavirus cases in some of the world’s main energy importers. OPEC+, the oil-producers’ group led by the Saudis …

Japan has been making headlines with its plans to significantly increase its reliance on hydrogen to satisfy its energy needs. Right now, it is demonstrating its transformation into a hydrogen economy by showcasing hydrogen buses and cars used in the Olympics. But there is a problem with that for those …

Built to China Classification Society (CCS) rules, Shen Hai Yi Hao has been deployed by field operator China National Offshore Oil Corporation (CNOOC) – China’s largest producer of offshore crude oil and natural gas. CNOOC estimates the Lingshui 17-2’s reserves at about 136Bn cubic metres (bcm) of recoverable gas. CCS …