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India is considering refilling its strategic hoard of crude oil, joining the US as the world’s top guzzler begins to rebuild its depleted stockpiles after a period of drawdown. The South Asian nation plans to import about 1.25 million tons (9.2 million barrels) of oil to fill empty reserves, said …

Solar and wind power could have a massive waste problem if not dealt with soon, with growing uncertainty over what to do with components at the end of their lifespan. Some countries are now investing heavily in recycling operations for no longer functioning solar panels and wind turbines, while many …

U.S. gasoline and diesel inventories are drawing down and sitting below the five-year average for this time of the year, pointing to resilient fuel demand and supporting both crude oil prices and U.S. refining margins. Although global refining margins have halved since February as Russian oil supply remains elevated despite …

The Sultanate of Oman is the second largest exporter of natural gas in the Arab world, said the Organisation of Arab Petroleum Exporting Countries, OAPEC. A report issued by the Organisation of Arab Petroleum Exporting Countries “OAPEC” confirmed today in Kuwait that the Sultanate of Oman’s total exports of liquefied …

The EU has set itself a new renewables target for 2030 and wants to reach a share of at least 42.5% and ideally 45% renewables in its energy consumption. Commission President von der Leyen recently made clear that the Union strives for a net-zero power sector by 2040. However, it …

Amidst an ongoing global shift towards greener forms of energy, the International Energy Agency (IEA) has predicted that global oil demand will rise more than previously anticipated, partly due to China’s economic rebound. World fuel consumption will increase by 2.2 million barrels a day in 2023 — about 200,000 a …

OPEC invited Ecuador to rejoin the oil producers’ group just over three years after its departure, according to a letter received by the country’s Energy Ministry. Secretary-General Haitham Al-Ghais wrote that readmission of the Latin American nation is a “top priority” for OPEC and offered to visit to “explain the …

Oil prices reversed losses and edged higher early on Wednesday as analysts expect an increasingly tighter market balance later this year. As of 7:20 a.m. EDT on Wednesday, ahead of the EIA’s weekly petroleum status report on inventories in the United States, the U.S. benchmark, WTI Crude, was up by …

Major Indian natural gas importers are discussing long-term supply deals with the biggest LNG exporting countries to lock in future supply and avoid volatility and uncertainty in case of spot price spikes, traders and executives tell Bloomberg. India plans to significantly increase its natural gas consumption as it looks to …

Saudi oil giant Aramco is studying the feasibility of an additional stock offering in Riyadh, which could help the world’s biggest oil firm raise billions of U.S. dollars, Bloomberg reported on Tuesday, citing sources familiar with the plans. Aramco, which is also the world’s number-two company by market capitalization – …