International

As a severe power crunch roils China’s northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections …

NATO Secretary-General Jens Stoltenberg on Monday asked China to show more transparency on its nuclear arms program. Stoltenberg held a talk with Chinese Foreign Affairs Minister Wang Yi by a video link to discuss NATO-China relations and international security challenges, Stoltenberg’s office announced in a press statement. Stoltenberg reaffirmed that …

Two investments banks, Goldman Sachs and Bank of America, have projected the crude oil price to hit between $85 and $100 in the coming months. The banks’ projection would come as good news for Nigeria despite production output struggles. In a note published on Friday, Goldman Sachs predicted an $80 …

Russia’s reserves of natural gas could run low in 70 years at the current production level, while oil reserves should last about 30 years, geological firm Rosgeo estimates show. “Over the past 25 years there have been ten times fewer new reserves discovered than in the previous 25 years, with …

U.S. shale producers have behaved in an exemplary way in the past year. It wasn’t something the industry wanted to do. It was something it was forced to do by the pandemic and by its shareholders, who after years of waiting for windfalls put their foot down and demanded higher …

Low-carbon energy sources will account for 90% of all energy sources in Russia by 2035, Deputy Prime Minister Alexander Novak said speaking at a high-level dialogue meeting on energy held as part of the UN General Assembly. “Thanks to the state support, the share of renewable energy sources in the …

Poland’s energy company PGNiG will not have the right to veto the certification of Russia’s Nord Stream 2 gas pipeline, says German energy regulator Bundesnetzagentur (BNetzA). The Warsaw-based firm, however, will get an opportunity to muster the arguments during certification proceedings of the widely-debated pipeline, the watchdog said as quoted …

Additional investments in development of the Northern Sea Route in 2022 are planned at 4 billion rubles ($55 million). The money will be used for construction of the Utrenniy LNG terminal at the Arctic port Sabetta, reads a memorandum on Russia’s draft budget for 2022-2024. TASS has a copy of …

The United Arab Emirates is seeking to more than double non-oil trade with India to as much as $100 billion over five years as part of efforts to deepen ties with fast-growing economies beyond the Middle East. The two governments have started talks on an economic pact aimed at boosting …

OPEC+, the exporters’ group making corrections in the supply of crude oil, will stick to its plan to incrementally bring 2 million barrels per day back to the markets by the end of the year, the UAE’s energy minister has said. “I think that if things move as they are, …