Saudi oil giant Aramco is proceeding with plans to boost its downstream presence in its most important export market, China, with discussions to buy a minority stake in a Chinese petrochemical company. Aramco has entered into discussions with Hengli Group Co., Ltd. regarding the potential acquisition of a 10% stake …

A 26% plunge in coal mining weighed on Poland’s industrial output in March 2024, casting a shadow over the expectations that the biggest emerging-market economy in Europe would grow by the expected 3% this year. Coal mining output slumped by 25.9% year-over-year in March, contributing to a 6% decline in …

Russia’s natural gas giant Gazprom had to shut down more than two dozen producing wells during the spring floods in the Orenburg region to keep the gas-producing wells from flooding, the local Gazprom unit said. River and floodwaters rose early this month in the Orenburg region in southwestern Russia near …

Renewable energy installations reached record highs in 2023, growing at their fastest pace in decades. 510 gigawatts (GW) of renewable energy were added worldwide, representing a 50% increase from 2022, according to figures from the International Energy Agency (IEA)’s annual flagship report on the global status of renewable energy. Projections …

The price of carbon dioxide on the European Union’s emissions trading markets, ETS, has taken a bad tumble. On the face of it, this is good news—it means industries covered by the scheme are emitting less. But in this case, fewer emissions mean less money for the transition. Earlier this …

With rapid growth and continuous upgrading in its industrial structure, China has made remarkable progress in the new energy industries in recent years, such as electric vehicles (EVs), solar products and lithium batteries, which has not only met the domestic needs for high-quality development but also cater to the global …

Norway produced 2.1 million barrels of petroleum, natural gas liquids (NGLs) and condensate per day last month, up from the prior month and the corresponding period a year ago, the Norwegian Offshore Directorate has reported. The figure exceeded the forecast by 2.4 percent, the report showed. Daily oil output averaged …

Namibia wants to join OPEC as it prepares to reap the benefits of its crude oil resources, with daily production capacity seen at an impressive 700,000 bpd in 2030—the first year of production per current plans. OPEC, it seems, will be only too happy to welcome it in the fold. …

Amid calls from some member states, the European Union should be careful in its efforts to ditch Russian LNG as it should protect its security of gas supply, the European Union Agency for the Cooperation of Energy Regulators, ACER, said in a report on Friday. The Baltic EU member states …

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, for an increase of 2. The total rig count fell by 2 to 619 this week, compared to 753 rigs this same …