Secretary-General of OPEC Mohammad Sanusi Barkindo said investment in the global oil industry dropped by nearly 30 percent this year, even more than in the 2014-2016 downturn, from which the industry was still recovering when COVID-19 struck. “The oil industry requires $12.6 trillion in investment to reduce volatility and avoid …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list. A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of …

A total of 207 Chinese companies made the list of 2020 global top 500 new-energy enterprises this year, outnumbering the US’ 69 companies in the second spot, and Japan’s 54 companies in third, according to a report released by the China Energy Economy Research Institute at the 2020 Global Top …

A plan to build a 150-metre tall wind turbine in Avonmouth, near Bristol, that will be able to generate enough electricity to power around 4,000 homes each year has been given the green light. Bristol City Council granted the application by Ambition Community Energy (ACE), a community interest company set …

The Nissan LEAF has a weird gas-powered cousin in Japan, and now there’s a new version. The third-generation Note, with Nissan’s sort-of-electric e-POWER system recently dropped in the Japanese market. The rest of the vehicle isn’t that different from the Versa Note we see in the US market and the …

Russia can probably get around the latest U.S. sanctions against Nord Stream 2 and complete the pipeline, industry executives and analysts of the controversial project say. Gazprom PJSC, which owns the project to boost natural gas flows from Russia into Germany, says it’s drawing up alternatives to complete work that …

OPEC+ will likely decide to roll over its current 7.7m bpd production cut at least until end-March 2021, Trend reports citing UK-based Capital Economics consulting company. “However, we suspect that this view is largely priced into the market. As a result, only a larger or longer production cut would give …

BP said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions. The company is a major producer in countries such as Iraq, where it operates the world’s third-largest oil field of Rumaila, the United Arab …

Russia’s energy giant Rosneft is developing a multibillion-dollar Vostok Oil project which is expected to bolster the country’s presence in the Arctic region and to boost the economy. Rosneft’s CEO Igor Sechin, who has met with President Vladimir Putin this week, has pledged that Vostok Oil will deliver up to …

Saudi Arabia and Russia summoned the OPEC+ alliance for last-minute talks on Saturday, just before it’s due to decide whether to delay January’s output increase. A clear majority of OPEC+ watchers expect the group to maintain their supply curbs at current levels for a few months longer due to lingering …