Articles

The pushback from the UAE over historic supply cuts brought in to offset the fallout from the pandemic comes at a delicate moment for OPEC, threatening the brittle coalition and an already weakened oil market. The news of COVID-19 vaccines alongside the highest oil price since September has lifted sentiments …

Senior market analyst Phil Flynn argues hurricanes and fears over a second wave of coronavirus is hurting oil demand expectations. Global oil demand is set to slip as more countries reintroduce lockdowns in an effort to slow the spread of COVID-19, according to OPEC. Continue Reading Below The oil cartel …

On October 22, Rosneft’s CEO, Igor Sechin, revealed some new, previously unpublished details regarding the state-owned Russian petroleum giant’s latest mega-project in the Arctic—Vostok Oil. Specifically, Sechin confirmed that Vostok Oil will include a natural gas liquefaction plant, which will ultimately enable Rosneft to ship significant volumes of liquefied natural …

Wind and solar capacity will double over the next five years globally and exceed that of both gas and coal, according to a new International Energy Agency (IEA) report. The Paris-based intergovernmental agency anticipates a 1,123 gigawatt (GW) increase in wind and solar that would mean these power sources overtake …

The International Energy Agency recently said solar farms were among the cheapest sources of electricity. It called solar “the new king of electricity”. But there has always been one aspect of solar that, unlike costs, cannot really change: land need. Solar farms need a lot of land and critics have …

Russia has no plans to rein in its production of fossil fuels in the coming decades despite the global efforts to shift towards low-carbon energy, according to its energy minister. Alexander Novak told the Guardian that Russia did “not see that we will achieve a peak in [gas] production anytime …

The members of the Organization of Petroleum Exporting Countries (OPEC) and their non-OPEC allies, have set the stage for a dramatic meeting at the end of November as bears look firmly in control of oil markets. The expanded OPEC-plus alliance, which is dominated by Saudi Arabia and Russia, could have …

“I would transition from the oil industry, yes,” Democratic presidential candidate Joe Biden said during last night’s debate with President Donald Trump in response to a question from his opponent. “Would he close down the oil industry?” Trump asked Biden, as quoted by the National Review. “Would you close down …

The chief executive of Russian oil producer Gazprom Neft said he expects global oil consumption to return to pre-crisis level in the second half of 2021, slightly later than the energy ministry’s forecast for the second quarter. Speaking at a conference – first large-scale industry event since Russia scrapped public …

The EU’s relations with Russia in connection with the construction of the Nord Stream-2 gas pipeline are unlikely to improve in the future. Therefore, the approach to this project should be changed, said the head of the European Commission (EC) Ursula von der Leyen, reports the newspaper Les Echos. “Russia’s …