Chinese President Xi Jinping moved to seize the climate agenda from the US, vowing that the world’s largest polluter will go carbon neutral by 2060, a target hailed by environmental activists as a major stride forward. The goals, which included a pledge to reach peak emissions in 2030, are the …

The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next year, resulting in a relatively balanced market by the end of 2021, the U.S. Energy Information Administration (EIA) said on …

The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not …

The United States is building a coalition aimed at preventing the completion of the Nord Stream 2 pipeline that will substantially increase the flow of Russian gas into Europe, the U.S. Secretary of State told German daily Bild in an interview, Oilprice analysed.. “From the US point of view, Nord …

The chief executive of Russian oil producer Gazprom Neft said he expects global oil consumption to return to pre-crisis level in the second half of 2021, slightly later than the energy ministry’s forecast for the second quarter. Speaking at a conference – first large-scale industry event since Russia scrapped public …

Iranian Energy Ministry adopted plan to supply electricity to Afghanistan which soon will announced soon, Iran’s Ambassador to Afghanistan Bahador Aminian said on Wednesday. “The two countries have many opportunities for ties development in different fields that aliens should not be allowed to sabotage them, so if Afghanistan intends to …

Iranian Gas refining capacity has reached 1.1 billion cubic meters a day compared to 670 million cubic meters a day seven years ago, it was announced on Wednesday. Gas refining capacity of Iran has witnessed 65 percent increase after seven years since the current Iranian government took office in August …

The Netherlands is taking a well-balanced approach to its plans for a rapid transition to a carbon-neutral economy that will support strong growth and energy security, according to a new energy policy review by the International Energy Agency. To drive this ambitious shift, the Netherlands has focused its energy and …

Chinese President Xi Jinping says his country will aim to stop adding to the global warming problem by 2060. Xi’s announcement during a speech Tuesday to the UN General Assembly is a significant step for the world’s biggest emitter of greenhouse gases. Calling for a “green revolution,” Xi said the …

A new wave of coronavirus lockdowns is already slowing oil’s price recovery. Now, commodity traders have a new headache: Libya. The civil-war-torn country’s oil industry has been all but shut down since January. But it looks as if exports will restart imminently thanks to a truce and an agreement between …