International

Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. “The spare capacity is shrinking.” His comments come with crude prices having soared …

European Union energy ministers are set for another spat over how to cushion consumers and companies from soaring power and natural gas prices, with political and legal constraints leaving little room for immediate action. At an emergency meeting in Luxembourg on Tuesday, the ministers will discuss how the EU could …

Iraq, OPEC’s second-largest producer, plans to invest $3 billion annually to replace the burning of liquids at its power plants with natural gas, the country’s deputy minister said. “We’re also drawing policies to stop burning accompanying gas [flared gas] that will stop for good by 2025,” said Ali Allawi, who …

China will work toward having 80% of its total energy mix from non-fossil fuel sources by 2060 and 1,200 GW of solar and wind generation capacities by 2030, according to a high-level policy framework for achieving peak carbon and carbon neutrality, published by the State Council, the country’s highest executive …

China will modify its current energy structure with measures including establishing a carbon dioxide emissions scale control system and restricting coal-fired power projects, He Lifeng, chairman of National Development and Reform Commission, said in an article published in the People’s Daily on Monday. The article, which reinitiated the efforts that …

In early October, President Putin assembled top government ministers, leading state officials and representatives of his country’s biggest energy companies to a meeting on climate policies. According to the President, a detailed plan is now elaborated on how to cut carbon intensity in Russian economy. “We are setting an ambitious …

Although the OPEC+ alliance is currently ramping up its collective crude oil production slightly above what they had agreed on, not all members of the group can quickly raise their output, Russian President Vladimir Putin said at an event on Thursday. “Currently, the OPEC+ countries are increasing production volumes, even …

Saudi Arabia maintained its position as the largest supplier of crude oil to China for the 10th consecutive month in September, Reuters reported, citing China’s General Administration of Customs. Oil supplies from Saudi Arabia to China rose 2% year-on-year (YoY) in September, to 7.96 million tons or 1.94 million barrels …

Indonesia is now overwhelmingly China’s biggest overseas supplier of coal, with shipments hitting a record last month after Beijing loosened curbs on imports to tackle its power crisis. Cargoes of coking, thermal and brown coal from the Southeast Asian nation surpassed 21 million tons in September, from just over 17 …

India is open to the idea of a term deal with OPEC + to ensure price stability in crude supplies, Oil Secretary Tarun Kapoor said Oct 20 at the India Energy Forum by CERAWeek, erasing volatile price swings detrimental to the economic growth of Asia third-largest economy. He said such …