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The number of oil rigs operating in the U.S. increased this week for the first time since June as crude prices soared, but drilling remains well below where it was at the beginning of the year. Some 513 drill rigs are operating in the U.S., up one from the previous …

When Iraq in April asked a US federal court to enforce an arbitration ruling against Turkey, seeking $1.4bn damages in relation to crude oil exports from its autonomous Kurdistan region, everyone was caught off guard in Ankara. Iraq had not notified Turkish officials, let alone tried to have a conversation …

Libya has shut four oil ports as a precautionary measure while state-owned National Oil Corp. declared a state of maximum alert on Sept. 10, before a possible hurricane headed for the country. Ras Lanuf, Zueitina, Brega and Es Sidra ports will be shut for at least three days, a source …

It looks as though the competition in semiconductors between the U.S. and China is only getting started. And hey, when it doubt: nationalize the industry! That seems to be China’s strategy after it was announced this week that Beijing is going to be launching a new, $40 billion investment fund …

Oil prices eased in early Asian trade on Monday as economic concerns in China weighed on fuel demand outlook although Brent stayed perched above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts. Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel …

Indian Prime Minister Narendra Modi hopes to use the Group of 20 summit, which kicks off Saturday in New Delhi, to urge other leaders to step up their clean energy transition. Modi, who has overseen a rapid expansion of India’s renewable energy industry, has set bold targets to power more …

Iraq secured the eighth position on the list of the Arab countries with the highest natural gas consumption for the previous year, with an annual growth of up to 2.1 billion cubic meters, according to the Energy Agency. The agency reported that “Saudi Arabia ranked first as the largest Arab …

Russia is still expecting its oil export revenues to continue to increase through the next three years—even in the face of Western price caps and embargos, according to a government created forecast that was submitted to Prime Minister Mikhail Mishustin and seen by Bloomberg. The forecast, which covers the years …

India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels. The alliance, with the United States and Brazil as its founding members, would help accelerate global efforts to meet net zero emissions targets by facilitating …

China is by far the world leader in nuclear reactor development at present. The country has been rapidly expanding its nuclear energy industry in line with its renewable energy development, to diversity and become a leader in several clean energy sources. In contrast, the development of new plants in the …