The U.S. is proposing that the Task Force on Climate-related Financial Risks (TFCR) at the Basel Committee on Banking Supervision (BCBS) be downgraded to a working group, the Financial Times reported on Friday, citing sources briefed on the matter. The Basel Committee is the top global regulator of the banking …

Russia saw its budget revenues from oil and gas drop by 12% in April from a year earlier, due to the oil price rout last month, the Russian finance ministry said on Wednesday. Oil and gas revenues for the Kremlin dipped to $13.45 billion (1.09 trillion Russian rubles) in April, …

Slovakia criticized on Wednesday the European Commission’s roadmap to phase out imports of all kinds of Russian energy by 2027, particularly natural gas, claiming that it is “economic suicide” that will hurt the EU more than Russia. The European Union’s executive arm, the European Commission, on Tuesday unveiled a roadmap …

U.S. supermajor ExxonMobil plans to invest as much as $1.5 billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore …

India’s federal government eased on Wednesday coal supply restrictions, allowing independent power producers to bid and procure coal supply at auctions for periods of between 1 and 25 years. Under the new measure passed by the cabinet, producers can bid for coal for periods of up to 25 years at …

Norway is looking to expand its oil and gas production with a new licensing round in frontier areas, with parliament directing the country’s minority government to facilitate the event. Reuters reports that the proposal to restart licensing rounds for oil and gas came—unsurprisingly—from the Conservatives but it gained majority support …

For the first time in history, fossil fuels supplied less than half of the United States’ electricity generation for an entire month, according to new data released by energy think tank Ember. This milestone, achieved in March 2025, represents a turning point in the evolving energy mix of the world’s …

Governments worldwide are searching for ways to decarbonise and tackle climate change, while many continue to rely heavily on fossil fuels for their energy. This has led several countries to explore the potential for geoengineering to combat climate change without relying entirely on the gradual shift away from fossil fuels …

Oil buckled on concerns of a global glut after OPEC+ agreed to another bumper output increase, adding to supply at a time when demand is challenged by the drag from the trade war. Global benchmark Brent tumbled as much as 4.6% toward $58 a barrel as the week’s trading kicked …

Saudi Arabia’s progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap …