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 …

On July 18, OPEC+, which includes most members of OPEC and several non-OPEC members (including Russia), agreed to increase monthly crude oil production starting in August 2021. On July 19, after the new OPEC+ agreement was made public, the price of Brent crude oil fell 7% from the previous day …

Senate Foreign Relations Committee Head Bob Menendez and lawmakers from the UK, Ireland, Latvia, Lithuania, Poland, Ukraine, Czechia and Estonia have signed the statement criticizing the American-Germany agreement on the Nord Stream 2 gas pipeline as Voice of America reported. “We consider the Nord Stream 2 to be a geopolitical …

Car manufacturing group and pioneer in the European EV market, Renault Group, and Australian-German geothermal lithium developer Vulcan Energy Resources, announce having signed a lithium offtake term sheet. This agreement is for an initial five-year term which can be extended if mutually agreed, with a start of commercial delivery set …

Oil company BP swung to profit in the second quarter amid higher oil prices and a broader recovery in the global economy this year after posting a loss in the same period a year earlier. The company earned $3.1 billion in the three months to the end of June, compared …

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo is to attend inauguration ceremony of Iranian President-elect Ebrahim Raisi, Iran ambassador to Nigeria said. Mohammad Alibak in a Twitter message referred to his constructive and friendly meeting with Mohammed Barkindo. He noted that Barkindo has appreciated …

Iranian Foreign Ministry spokesman Saeed Khatibazdeh has responded to allegations by U.S. and UK top diplomats against Iran about last week’s attack on an Israeli oil tanker off the coast of Oman. In a statement on Monday, Khatibzadeh said the statements issued by U.S. and UK top diplomats contain “contradictory” …