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France is set to build eight new nuclear plants on top of six already announced, the energy minister has said, arguing more reactors are needed to hit carbon reduction targets. A draft law set to be presented soon recognizes that “we will need nuclear power beyond the six first European …

Saudi Arabia will cut key crude oil prices for buyers in all regions, including its main Asia market, for February amid persistent weakness in the market, Bloomberg reported. State producer Saudi Aramco reduced its flagship Arab Light price to Asia by $2 to $1.50 a barrel above the benchmark. Oil …

Canada’s oil producers plan higher output for this year and expect to earn more from their heavy crude once the long-delayed expanded Trans Mountain Pipeline enters into service. The start date of the Trans Mountain Pipeline Expansion (TMX) is the key uncertainty this year for the Canadian oil industry, the …

In 2023, Ukraine imported 4.3 billion cubic meters of natural gas from the European Union and Moldova, which is twice as much as in 2022. Gas Transmission System Operator of Ukraine LLC said this in a post on Facebook, Ukrinform reports. “According to the latest data, in 2023, more than …

According to assessments by the International Renewable Energy Agency in 2022, Germany had an installed photovoltaic capacity of around 67 gigawatts, making it the European country with the greatest solar energy potential. As Statista’s Anna Fleck details below, the capacity of the Federal Republic in that year was more than …

Houthi rebel disruptions reaching the Straits of Hormuz could double oil prices, Goldman Sachs has warned. In an interview given to American television station CNBC yesterday, head of the company’s oil research division Daan Struyven said: “the Red Sea is a transit route and a prolonged disruption there, oil can …

The head of the National Iranian Gas Company (NIGC) said 90 percent of the country’s rural areas are going to be supplied with gas through the national gas network by the end of the current Iranian calendar year (March 19), Shana reported. Making the remarks on the sidelines of the …

Retail gasoline prices in the United States continued to fall on Friday, landing at $3.088 per gallon, according to the latest AAA data. This is down from yesterday’s average of $3.090 per gallon, and down from a week ago’s $3.120. Meanwhile, WTI crude is trading up week over week, exchanging …

Libya’s largest oil field halted production after protesters entered the facility, according to a person with direct knowledge of the operations. The country’s National Oil Corp. had warned earlier that a full stoppage and a force majeure were likely if the north African country was unable to meet the demands …

The Organization of the Petroleum Exporting Countries (OPEC) increased its crude oil production in December, collectively pumping 27.88 million barrels per day, according to a new Reuters survey published on Friday. OPEC’s production rose by an average of 70,000 barrels per day (bpd), the survey showed, with production increases seen …