International

China looks to accelerate solar thermal power development in a new policy roadmap unveiled on Tuesday, with plans to have as much as 15 gigawatts (GW) of such installed capacity by 2030. Costs for the solar thermal power, which differs from solar photovoltaic (PV) as it is used to heat …

Norway’s Equinor said it had suspended work on the offshore wind project Empire Wind 1 following a Monday stop-work order issued by the Trump administration. The order relates to a pause on the leases of five offshore wind power projects, declared by the Department of the Interior on national security …

Oil and gas producer Indonesia has put up for tender eight new blocks to award to companies as Southeast Asia’s biggest economy looks to boost domestic hydrocarbon reserves and production. Interested parties can submit bids by February 5, 2026, for the onshore and offshore blocks Tapah, Nawasena, Mabelo, Arwana III, …

Russia is heading into 2026 with a familiar problem wearing a sharper edge: the oil revenues that bankroll its budget — and its war — are shrinking fast. According to Reuters calculations released Friday, Russia’s tax proceeds from crude oil production in January could fall to about 380 billion roubles …

Ukraine has hit an empty oil tanker of Russia’s shadow fleet in the Mediterranean in the first such drone attack in this sea in another escalation of the Ukrainian strikes on Russian vessels. The Qendil tanker, flying the flag of Oman, was targeted and hit by drones, Ukraine said on …

The economics of shipping additional volumes of heavy crude from Iraq to compensate for a potential loss of Venezuela’s supply are just not there at present, Shafaq News reported on Friday, quoting Iraqi economist Nabil Al-Marsoumi. Concerns in the heavy crude market are that the U.S. blockade of tankers carrying …

China’s exports of refined petroleum products last month booked a 2.2% decline on the year to 5.12 million tons, which was an increase on October, by 13.3%. Exports of refined petroleum products over the first 11 months of the year were also lower on an annual basis, by 3.2%. The …

Falling U.S. energy sales in China and India failed to offset increases elsewhere in Asia as the Trump Administration’s trade policies have upended Asia’s energy imports. While Japan and South Korea have increased their imports of American crude oil, China has slashed U.S. crude and LNG imports, after halting purchases …

Japan’s JAPEX has struck a deal to buy shale oil and gas asset owner Verdad Resources Intermediate Holdings for $1.3 billion, Reuters has reported, adding the company will finance the deal with a combination of cash and debt. Verdad Resources Intermediate Holdings has assets in Wyoming and Colorado, which currently …

Oil tanker rates are set to stay elevated in early 2026 as crude supply is rising while the number of available vessels is shrinking due to the U.S. sanctions on Russia, Venezuela, and Iran, officials and analysts in the shipping industry tell Reuters. The daily rates for chartering a vessel …