Indian refiners have stored about 32 million tonnes of oil in tanks, pipelines and on ships, taking advantage of low oil prices to help the nation cut its import bill, oil minister Dharmendra Pradhan said on Monday. India, the world’s third biggest oil importer, buys over 80% of its oil …

The German government intends to provide political support to businesses working on the Nord Stream 2 gas pipeline, reports the Russian newspaper Kommersant. “The Federal Government does not know how the project will be implemented from a technical point of view but assumes that the Nord Stream 2 will be …

Total SA unveiled a plan to neutralize its greenhouse gas emissions by 2050 and deepen cost cuts as its first-quarter profit plunged with oil and gas prices. The French major rounds out a weak quarter for the oil supermajors, forcing them to slash spending, curb production and even reduce the …

China’s move to speed up the construction of natural gas storage facilities is expected to boost the storage capacity over the next two-three years, but the country is unlikely to meet its 2020 targets amid incomplete market liberalization reforms and coronavirus pandemic, trading sources said. City gas suppliers have so …

South Korea has unveiled plans to build the world’s largest liquid hydrogen plant, taking a lead among Asian countries to embrace the clean fuel in its quest to speed up the energy transition process and cut dependence on imported oil. South Korea’s chemical-focused conglomerate Hyosung Group has signed a deal …

Iranian Minister of Industry, Mine and Trade Reza Rahmani said that export of non-oil commodities is the driving force of economy of the country in the current year [started March 21, 2020]. In this line, activation of all export capacities and export markets with a focus on the private sector …

The impact of the move, announced at a time when oil prices are languishing at around $25 per barrel, on Rosneft’s upstream joint ventures with Venezuelan state oil company Petroleos de Venezuela was not immediately clear. The U.S. government has ramped up pressure on Venezuelan President Nicolas Maduro’s government, including …

The executive director of the International Energy Agency (IEA), Fatih Birol, said that the turmoil in the oil sector caused by the covid-19 pandemic gives governments the perfect opportunity to embrace green energy as a source of jobs that also serves climate goals. In an interview with Reuters, Birol said …

India’s solar and gas-fired electricity generation rose in April even as overall power demand fell at the steepest monthly rate in at least thirteen years, a Reuters analysis of provisional government data showed. Solar-powered electricity generation rose 16.9%, accounting for a record 5.6% of the country’s total output, while gas-fired …

Saudi Arabia’s finance minister has warned the kingdom needs to make “extreme” spending cuts to manage the economy during the COVID-19 crisis and oil price crash. “It is very important to take strict and extreme measures, which may be painful, but are necessary for public financial stability,” finance minister Mohammed …