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Oil prices fell in morning trade on Tuesday on a strong dollar and concerns about further monetary tightening by the US Federal Reserve. Brent, the benchmark for two thirds of the world’s oil, was trading 1.05 per cent lower at $83.19 a barrel at 8.37am UAE time. West Texas Intermediate, …

Russia renewed its calls on Sweden late on Monday to share its findings from the ongoing investigation into the explosions that damaged the Nord Stream gas pipelines last year. The U.N. Security Council will meet on Tuesday to discuss “sabotage” after Moscow asked for an independent inquiry into the September …

The global energy industry’s methane emissions surged to 135 million tonnes last year, slightly below 2019’s record highs, the International Energy Agency has said. Despite high energy prices, worries about security of supply and economic uncertainty, there was no reduction in methane emissions observed in 2022, the agency said in …

Haitham Al Ghais, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) has called upon the oil industry to get united and be more vocal in the face of criticism that the industry is a major polluter. He said this to a gathering of delegates at the Middle …

An 80,000-cubic meter liquefied natural gas (LNG) carrier was delivered in east China’s Shanghai on Saturday, making it the largest river-sea intermodal LNG carrier in the world, said its builder Hudong Zhonghua Shipbuilding (Group) Co., Ltd., a subsidiary of the China State Shipbuilding Corporation Limited. With a length of 239 …

OPEC remains flexible and can alter its oil-production strategy if market conditions change, according to Saudi Arabia’s energy minister. “We are flexible enough to adjust OPEC decisions if needed,” Prince Abdulaziz bin Salman said at a conference in the kingdom on Monday. He reiterated that the group’s policies are determined …

Russian Ambassador to the United Nations (UN) Vasily Nebenzya urged the UN Security Council to launch an investigation into the attacks on Nord Stream gas pipelines in September last year, saying the UN is capable of establishing mechanisms to investigate such an incident after UN said it had no mandate. …

China’s petrochemical industry saw an increase in revenues and a decline in profits in 2022, according to the China Petroleum and Chemical Industry Federation (CPCIF). The country’s petrochemical industry registered a total revenue of 16.56 trillion yuan (about 2.41 trillion U.S. dollars) in 2022, climbing 14.4 percent year on year, …

Spokesman of the Atomic Energy Organization of Iran Behrouz Kamalvandi has underlined that the Islamic Republic has not enriched uranium above 60 percent purity so far. Kamalvandi told IRNA in an exclusive interview on Sunday night that the member states of the International Atomic Energy Agency (IAEA) are tasked with …

International Energy Agency (IEA) head Fatih Birol has warned of possible energy shortages next winter as relatively little new liquefied natural gas (LNG) is coming to the market while China’s consumption set to rise this year. European governments made many correct decisions over the last year to ensure energy supply, …