International

Organisation of the Petroleum Exporting Countries (OPEC) said the proven crude oil reserves in the bloc’s member countries increased by 0.3 per cent to 1.237 billion barrels at the end of 2020, following a firm increase its previous year. At the end of 2020, world proven natural gas reserves fell …

It’s not just extra natural gas that Europe’s struggling energy markets are finding tough to get from Russia. Power producers in the continent are being forced to ask Russia for more coal to ease an energy crunch with winter approaching and record-high gas prices denting profitability, according to officials at …

China’s electric carmakers are darting into Europe, hoping to catch traditional auto giants cold and seize a slice of a market supercharged by the continent’s drive towards zero emissions. Nio Inc, among a small group of challengers, launches its ES8 electric SUV in Oslo on Thursday (30 September) – the …

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 …