Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer outweighed concerns about the impact of rising COVID-19 cases in India, Japan and Brazil. Brent crude for June rose 15 cents, or 0.22%, to $66.93 a barrel by 0528 GMT …

A group of EU lawmakers have drafted a resolution that would impose new sanctions on Russia and scupper a Moscow-backed Baltic Sea pipeline, ignoring recent calls from the bloc’s top politicians for more constructive relations. The motion, put forward by representatives of some of the assembly’s largest political groupings, says …

Every day, the sun ejects large amounts of a hot particle soup known as plasma toward Earth where it can disrupt telecommunications satellites and damage electrical grids. Now, scientists at the U.S. Department of Energy’s (DOE) Princeton Plasma Physics Laboratory (PPPL) and Princeton University’s Department of Astrophysical Sciences have made …

Major Chinese investors are in talks to buy a stake in Saudi Aramco, several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to sell another slice of its business to international investors, Reuters reports. Saudi Arabia was in discussions to sell 1% of Aramco to a …

Oil prices rose Wednesday after the OPEC+ alliance made bullish predictions signaling a strong global oil demand recovery this year despite COVID-19 flare-ups in India and an expected build in U.S. crude stocks. International benchmark Brent crude was trading at $66.17 per barrel at 6:43 a.m. GMT for a 0.45% …

The 16th OPEC and non-OPEC Ministerial Meeting of the Declaration of Cooperation (DoC), has been held via teleconference on Tuesday under the Chairmanship of Saudi Arabia’s Minister of Energy HRH Prince Abdul Aziz bin Salman and Deputy Prime Minister of the Russian Federation, Co-Chair HE Alexander Novak. According to the …

Saudi Arabia expects to benefit from future drop in oil supply from major producers such as the US and Russia and pump more crude to cater to global demand as it mulls more sales in Saudi Aramco shares to foreign investors, the country’s crown prince said April 27. “There is …

The 16th OPEC and non-OPEC Ministerial Meeting of the Declaration of Cooperation (DoC) took place via teleconference on Tuesday, 27 April 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation. The …

The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil, Reuters sources said on Monday. The Joint Technical Committee, or JTC, is responsible for assessing oil market fundaments. It is also tasked with monitoring which member countries are complying with the production …

A Qatari company hopes to use the country’s abundant gas reserves to make protein for fish food and other animal feeds. Gulf Biotech, the Doha-based industrial biotech investor, and Unibio have signed a license agreement to produce sustainable and organic protein in Qatar. “The abundance of natural gas in Qatar …