BMW Group and Daimler Mobility’s joint venture Digital Charging Solutions GmbH soon will be strengthened by a third shareholder – BP, which will invest an undisclosed amount to acquire a 33.3% share in the DCS. The DCS, initially launched by BMW and then joined by Daimler (50/50), is a developer …

The International Energy Agency (IEA) upgraded the forecast for oil demand growth by 230,000 barrels a day to 5.7 million barrels a day (mbd), but noted that the post-COVID recovery remained fragile. Last month, the IEA also upgraded the forecast for world oil demand growth in 2021 by 0.1 mbd …

U.S. oil major Chevron, together with Norwegian company Moreld Ocean Wind, is set to invest in offshore wind technology at Ocergy, a U.S. company developing a low-cost floating wind foundation and a multi-disciplinary environmental monitoring buoy. Ocergy secured the investments through its Series A equity fundraising round to accelerate the …

The latest data published by the Organization of the Petroleum Exporting Countries (OPEC) shows an increase in Iran’s crude oil output for the third consecutive month in March. According to the OPEC report, Iran’s oil production rose by 137,000 barrels per day to 2.304 million bpd in March, marking the …

Evidence shows that biased media outlets will always exist when it comes to news about Saudi Arabia. The announcement of a $12.4 billion deal to set up a new unit called Aramco Oil Pipelines Company was reported unconstructively by some global news media as Saudi Aramco selling its assets, taking …

OPEC on April 13 raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. Demand will rise by 5.95 million bbl/d in 2021, or 6.6%, OPEC forecast in …

Oil extended gains in early Asian trading after an industry report pointed to another decline in U.S. crude stockpiles that followed an upbeat assessment of the demand outlook from OPEC. Futures in New York rose 0.6% in New York after advancing 0.8% on Tuesday. The American Petroleum Institute reported crude …

The International Atomic Energy Agency said Tuesday it supports Japan’s decision to release treated radioactive water from the Fukushima nuclear plant into the sea and stands ready to provide technical assistance in monitoring the discharge. The U.N. nuclear watchdog reiterated that the water release is in line with international practice …

Iran’s ambassador to the International Atomic Energy Agency (IAEA) Kazem Qaribabadi emphasized on Monday that uranium enrichment at Iran’s Natanz Nuclear Complex has not been halted. Ambassador Qaribababdi who was speaking in a TV interview in Vienna stressed that the damaged IR1 centrifuges were replaced with machines capable of 50% …

Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output. The kingdom will deliver in full what most of the refiners asked for in May-loading cargoes, while …