International

The Sultanate of Oman’s production of crude oil and condensates recorded an increase of 8.2 per cent by the end of February 2022 to reach 60,929,200 barrels compared to 56,300,900 barrels by the end of February 2021, according to the latest data issued by the National Centre for Statistics and …

A driver refuels a vehicle at a petrol station in Gimpo, South Korea. Asia’s fourth-largest economy almost entirely relies on imports for its fossil fuel needs. Photo: Bloomberg South Korea is worried about knock-on effects from the Ukraine war on the prices of raw materials it needs to produce goods …

OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva told Anadolu Agency on Friday. “It is not something that you can open a tap for at this point. You must have the additional capacity, …

The outlook for crude oil demand in the world’s second-largest consumer is dimmed amid the continued increase in Covid-19 cases and the extended lockdown in Shanghai, where daily cases have topped 2,000. Because of the movement restrictions put in place to rein in the spread of the virus and because …

As tensions persist over stable energy supplies due to the Russia-Ukraine war, Japan said on Thursday it will release oil from its state reserves. Prime Minister Fumio Kishida announced the release of at least 15 million barrels from its state reserves, Kyodo News reported. The announcement came amid disruptions in …

A new U.N. report detailing what the world needs to do to combat climate change has highlighted the need for China – by far the world’s biggest greenhouse gas emitter – to accelerate its shift towards clean and low-carbon energy. This week’s report by the Intergovernmental Panel on Climate Change …

Greece plans to accelerate gas exploration in its western and southern waters in a fresh drive to tap domestic resources amid soaring energy prices and concerns over Russian gas supplies, government sources said on Tuesday. Greece has produced small quantities of oil in the past and has attempted to explore …

U.S. natural gas production will decline by 5 percent by 2050, and consumption will shed 4 percent if no new interstate pipelines are built, the Energy Information Administration said in its latest Annual Energy Outlook. This, in turn, will lead to higher gas prices, the authority also said, and this …

At least 45% of U.S. coal power is set to disappear by the end of the decade, a figure that will likely rise as more utilities conclude their coal-fired plants no longer make financial sense to operate, according to the Institute for Energy Economics and Financial Analysis. Electricity producers have …

Japan may expand a subsidy programme for gasoline and other fuels among measures under consideration to ease soaring energy costs, the industry minister said on Sunday (Apr 3). The measure will be part of a fresh relief package which Japanese Prime Minister Fumio Kishida ordered his cabinet last Tuesday to …