OPEC+’s surprise move to keep a lid on crude exports is hitting oil tanker owners afresh. Shares of owners giant supertankers including Frontline Ltd., International Seaways Inc. and DHT Holdings Inc. all fell late Thursday and into Friday. The Organization of Petroleum Exporting Countries and its allies wrong-footed oil traders …

Russia’s oil production declined last year for the 1st time since 2008 and reached its lowest level since 2011 following a global deal to cut output and low demand due to the coronavirus. According to an article by Reuters, Russian oil and gas condensate output declined to 10.27 million barrels …

South Korea signed an agreement with the United Arab Emirates on Thursday to cooperate on the hydrogen economy, further expanding their partnership currently focused on nuclear energy, oil and gas. During the Korea-UAE Industry and Energy Cooperation Forum held online, South Korean Minister of Trade, Industry and Energy Sung Yun-mo …

Japan needs steep emission reductions as soon as possible, and latest from 2030 onwards, to meet its 2050 net zero carbon targets, along with accelerated gas and power market reforms and rapid development of low carbon power sources, the International Energy Agency said in its Japan 2021 Energy Policy Review …

President Rouhani said Thur. that if the US lifts sanctions, Iran will have warmer relations with the International Atomic Energy Agency (IAEA) and the agency’s monitoring will be carried out according to the law. “From the start, we were interested in cooperating with the International Atomic Energy Agency (IAEA), and …

The Organization of the Petroleum Exporting Countries and its allies, including Russia, are expected to meet by videoconference on Thursday to consider a potential but by no means certain production increase of as much as 1.5 million barrels a day. Analysts say the combined group, called OPEC Plus, could increase …

A group of some of the world’s most powerful oil-producing nations will meet on Thursday to discuss the next phase of production policy amid the ongoing coronavirus crisis. OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference from 1 p.m. London time. …

The institutional framework for offshore wind farms and energy storage will be ready by June 2021, Environment and Energy Minister Kostas Skrekas told the Blue Economy Forum, titled “The Way to a Green Recovery,” on Tuesday. He said it would include issues of licensing, installations and connections to the power …

The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the oil and gas sector, which has been anticipating big changes with President Joe Biden’s climate-focused, clean energy policies. “The oil and gas industry is calibrating …

There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present — with Saudi Arabia cautious and Russia keen to open the taps — all sides are ready to increase production, they said, asking …