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India, the world’s fourth largest crude oil refiner, is expected to add one million barrels per day (mb/d) of refining capacity in the next five years. According to the latest refining capacity numbers by the International Energy Agency (IEA), India will increase its refining capacity from 5.2 mb/d in 2022 …

The EU’s carbon emissions could decline again from 2023 amid continued growth in renewable energy generation capacity, Goldman Sachs has said. The bloc’s emissions rose 9 per cent from 2020 to 2022, driven by a surge in transport demand after the Covid-19, and significant gas-to-coal switching in the power generation …

Record heat across Asia is putting its surging renewable power fleet to the test, highlighting the need for backup supply, transmission system upgrades and tariff reforms to ensure reliability and stave off a slowdown in green energy adoption. Temperatures in parts of the region breached 40 Celsius (104 Fahrenheit) in …

An unusually warm winter in the southern hemisphere is threatening to saddle Argentina with a glut of liquefied natural gas. Argentina is spending about $1.8 billion to import 44 LNG cargoes this year, with 20 already delivered and the remainder scheduled to arrive in the coming months. The mild weather …

Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday. “Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, …

Iran’s oil minister said on Friday that the country’s oil products and exports have climbed in spite of harsher sanctions. Javad Owji said in an interview with the IRNA news agency that the promotion of energy diplomacy and relations with Asian, African, and Latin American countries has helped Iran create …

Gazprom is ready to help African countries to produce natural gas, representatives of the Russian gas giant said at a meeting with officials from African countries in Johannesburg this week. “I believe that Gazprom’s experience implementing liquefied natural gas and gas pipeline construction projects could be of interest to South …

India’s government this week asked some of the biggest state oil refiners to launch rights issues with which the authorities plan to help fund the firms’ net-zero and energy transition goals, Reuters reported on Friday, quoting sources with knowledge of the matter. The government will be seeking equity in Indian …

Azerbaijan has begun installation of solar panels at its 230 MW Garadagh plant, the country’s first major solar power plant. Developed by United Arab Emirates-based renewable energy company Masdar, the plant is expected to be operating by the end of this year, producing 500 gigawatt hours (GWh) annually. Azerbaijan has …

The total number of total active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday, falling by more than 70 rigs over the last two months. The total rig count fell to 682 this week—71 rigs below this time …