Italy, Austria, Germany, Algeria, and Tunisia reiterated on Tuesday their intention to develop a pipeline that would carry renewable hydrogen from North Africa to Europe, the Italian energy ministry said. The 3,300-km (2,050 miles) hydrogen pipeline, named SouthH2 Corridor, is planned to ship green hydrogen from the African coast to …

Low wind speeds have pushed the UK’s power prices to their highest level in two years on Tuesday, with wind generation expected to plunge to the lowest level on Wednesday since September 2023, Bloomberg models show. The day-ahead power price in the UK hit $296.28 (£241.49) per megawatt-hour (MWh) on …

Saudi Aramco, the world’s largest oil exporter, expects global oil demand to grow by a steady 1.3 million barrels per day (bpd) this year compared to 2024, the chief executive of the biggest oil firm in the world told Reuters. Oil demand is set to hit nearly 106 million bpd …

The state-owned Iraqi Midland Oil Company said that it has discovered huge oil reserves in the East Baghdad oil field. Mohammed Yassin Hassan, director general of the company, said the new discovery is expected to add more than 2 billion barrels to Iraq’s oil reserves, according to a statement by …

The Arabian Gulf Oil Company (AGOCO), a subsidiary of Libya’s National Oil Corporation, has successfully activated a new oil well in the Sarir field on 17 January. The well, designated L096, commenced operations following the completion of essential mechanical and electrical infrastructure works. AGOCO officials report the new installation will …

U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former …

On Tuesday, Basrah crude oil prices dropped tracking a decline in global oil markets. Basrah Heavy crude decreased by $0.83, or 1.06%, to $77.60 per barrel, while Basrah Medium crude also decreased by $0.83, or 1.02%, to settle at $80.85 per barrel. The drop comes as global oil prices reacted …

One week into the latest – and most aggressive yet – U.S. sanctions on Russian oil exports, the Asian buyers of Russian crude are scrambling for alternative supply, the price of oil has rallied, and analyses suggest that more than 1 million barrels per day (bpd) of Moscow’s export volumes …

China’s crude oil imports from top supplier Russia were up 1% in 2024 to a record high versus 2023, while purchases from Saudi Arabia dropped 9%, data showed on Monday, as refiners chased discounted Russian supplies to cope with weakened margins. Volumes from Russia – including pipeline and seaborne supplies …

Following Russia’s invasion of Ukraine in 2022, India emerged as a major buyer of Russian oil that was widely and rapidly sanctioned by the West. However, all that may be about to change, courtesy of a fresh wave of U.S. sanctions on Russia and India’s own scramble to find alternatives. …