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Crude oil prices were set for their second consecutive week of gains today as supply concerns began to seep through a preoccupation with demand. The latest inventory data from the United States helped alleviate concerns about demand, according to Reuters, as the EIA reported a larger-than-expected draw. Even though it …

South Korean inquiry found Japan’s plan to discharge treated wastewater from the tsunami-wrecked Fukushima nuclear power plant to be “consistent with international safety standards,” the government announced Friday. Bang Moon-kyu, the government policy coordination minister, said the plan proposed by the Japanese government met international standards, including those of the …

Concerned about energy security, Europe and China are in an intensifying competition to sign long-term supply deals with U.S. LNG developers and exporters. The race for LNG supply indexed to Henry Hub prices and with flexibility clauses to resell the cargoes if not needed gives buyers certainty about long-term supply …

The United Arab Emirates won’t be making further voluntary OPEC+ oil production cuts at the present time, said the country’s energy minister. The UAE is “doing enough” to contribute to the OPEC+ supply curbs, Energy Minister Suhail Al Mazrouei told reporters in Vienna. He noted the large difference between the …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami once again ruled out rumors about installation of surveillance cameras at a power plant in Central Iran, and underscored that Tehran’s coordination with the International Atomic Energy Agency (IAEA) is in accordance with the Non-Proliferation Treaty (NPT) and the …

Saudi Arabia and Russia announced Monday that they would make additional cuts to oil supply as a global economic slowdown hangs over the outlook for energy demand. Saudi Arabia — the world’s biggest exporter of crude oil — said it would extend a cut of 1 million barrels a day …

The International Atomic Energy Agency chief on Wednesday exchanged views with the heads of local governments and fishermen around the crippled Fukushima nuclear power plant, a day after releasing a report endorsing the safety of Japan’s plan to discharge treated radioactive water into the sea. Amid lingering worries about the …

The World Bank’s Board of Executive Directors has recently approved 1.5 billion dollars in financing to accelerate India’s development of low-carbon energy. In a statement, the World Bank has said that the financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate …

Asia’s oil refiners, responsible for meeting about a third of the world’s fuel consumption, are getting ready to go elsewhere for crude should Saudi Arabia and Russia’s latest pledged output cuts deprive them of barrels. The two producer countries said on Monday that they will prolong and deepen output cuts …

The United Arab Emirates plans to invest as much as $54 billion on renewables over the next seven years as part of efforts to reach net zero emissions by 2050. The nation is targeting a threefold increase in the share of energy produced from renewable sources over the period and …