International

Indian Oil Corp., the country’s biggest refiner, said it plans to spend 2 trillion rupees ($25 billion) to achieve carbon neutrality by 2046. The company will target Scope 1 and 2 emissions under its net zero aim, Shrikant Madhav Vaidya, chairman of the state-owned refiner-cum-fuel retailer, said on Thursday. It …

Hungary is planning to receive the supply of ‘green’ electricity from Azerbaijan, Trend reports via Minister of Foreign Affairs Peter Siatro’s Facebook page. According to him, the current situation clearly shows the importance of exploring new energy sources and integrating them into the supply. “One of the most important partners …

Wednesday, 24 August 2022, is a bitter-sweet day for us Ukrainians. It marks the 31st anniversary of our country’s post-USSR independence. But sadly, it will also be exactly six months since Russia invaded our country, killing Ukrainian civilians, seeking to destroy Ukraine’s critical infrastructure and violating our right as an …

Japan is considering constructing next-generation nuclear power plants to support its goals of reducing carbon emissions and providing a stable supply of electricity, sources close to the matter said Wednesday, marking a major shift in the government’s no new nuclear energy policy. The plan, which will also consider extending the …

OPEC leader Saudi Arabia’s energy minister has said that the oil cartel and its allies have the means to deal with market challenges – including by “cutting production”. “OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms to deal with such challenges including cutting production at …

China has extended orders for industries to shut down production for five more days as heatwaves and extreme drought in its southwestern regions have boosted electricity demand while reducing hydropower production in the largest hydropower-generating province. The heatwave in the Sichuan province and the rest of southwestern China is now …

The United States has become the world’s biggest liquefied natural gas (LNG) exporter as deliveries to energy-starved buyers in Europe and Asia have surged. In the current year, five developers have signed over 20 long-term deals to supply more than 30 million metric tons/year of LNG or roughly 4 Bcf/d, …

The Bulgarian government has decided to accept only one of the agreed seven liquefied gas supplies from the US company Cheniere, despite the price being almost €30 lower than that offered on European gas exchanges. Currently, the caretaker government appointed by President Rumen Radev is in power. His political opponents …

Norway’s $1.3 trillion sovereign wealth fund posted its biggest loss on record as rate hikes, surging inflation and Russia’s invasion of Ukraine spurred volatility. The Oslo-based fund, the world’s biggest, lost 14.4% in the six months through June. The loss of $174 billion was the fund’s biggest ever in currency …

While the European Union and the UK are trying to shake off dependence on Russian oil and coal in the wake of Russia’s invasion of Ukraine, Europe is also taking steps to reduce its dependence on China for critical minerals and rare earth elements that are crucial to the energy …