International

Global oil demand will rise to 110 million barrels a day in about 20 years, pushing the world’s energy demand up by 23%, said OPEC on Monday. “Oil is irreplaceable for the foreseeable future,” Secretary General Haitham Al Ghais of the Organisation of the Petroleum Exporting Countries said while addressing …

Record heat across Asia is putting its surging renewable power fleet to the test, highlighting the need for backup supply, transmission system upgrades and tariff reforms to ensure reliability and stave off a slowdown in green energy adoption. Temperatures in parts of the region breached 40 Celsius (104 Fahrenheit) in …

India’s government this week asked some of the biggest state oil refiners to launch rights issues with which the authorities plan to help fund the firms’ net-zero and energy transition goals, Reuters reported on Friday, quoting sources with knowledge of the matter. The government will be seeking equity in Indian …

The total number of total active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday, falling by more than 70 rigs over the last two months. The total rig count fell to 682 this week—71 rigs below this time …

Ukraine is looking to raise initial funding of up to $40 billion to rebuild one of its most important industries – iron and steelmaking – including by reducing dependence on coal and launching a green steel industry after the war. The Russian invasion has decimated iron and steel production in …

The Norwegian government announced Tuesday it intends to allow seabed extraction for minerals on the country’s continental shelf saying Norway needs minerals “to succeed in the green transition”. Made a day after the United Nations adopted a historic pact to protect the high seas, the announcement drew condemnation from environmental …

Equinor has selected the family-owned industrial group Wergeland as its preferred supplier for the fabrication of foundations and the assembly of turbines for floating offshore wind projects. The Norwegian energy giant said the agreement is aimed at ensuring industrial capacity to develop offshore wind in Norway, where activities are gathered …

Russia’s crude oil exports by sea fell slightly in the four weeks to June 18, but were still 250,000 barrels per day (bpd) higher compared to February, which serves as a baseline for the 500,000-bpd production cut Russia has promised this year. In the four weeks to June 18, Russia’s …

China’s coal-fired generation has increased the most of any power source this year as hydroelectric production has fallen amid lower-than-normal rainfalls that have reduced water levels on the biggest rivers and depleted hydro reservoirs. Wind and solar generation have also jumped this year as China leads global renewable energy installation …

Economic partnership between China and Saudi Arabia is reaping more fruits, as the two nations extend their cooperation beyond oil as the closer bilateral relations are set to unleash more trade potential, with a focus on new-energy vehicle (NEV) manufacturing. On June 11, Saudi Arabia signed a $5.6 billion deal …