Top News

Coal will remain India’s largest source of electricity generation by 2030 and additional new plants will be required, even as the nation adds record clean energy installations to hit climate targets. India, the world’s third-largest emitter, is seeking to meet surging electricity demand driven by rising per-capita energy consumption and …

Saudi Aramco Base Oil Company, known as Luberef, posted net income of 446 million riyals ($118.92 million) for the first quarter, up from 303 million riyals a year earlier, it said in a statement. The company, which listed 30% of its shares in an IPO in December, reported revenue of …

Australia’s top-selling automaker has shown off a collection of big and small hydrogen-powered vehicles in an event designed to spark conversation about its potential as mainstream, pollution-cutting transport technology. The Toyota Hydrogen Showcase, which will tour other Australian capitals over the next two months, ranges from a hydrogen fuel-cell bus …

Oil prices rebounded on Thursday, with both benchmarks dropping around 5% in previous trade as supply concerns caused by Iran’s seizure of an oil tanker and renewed tensions between Ukraine and Russia overshadowed demand woes caused by the US Federal Reserve’s (Fed) decision to cut interest rates further. International benchmark …

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari said that the fifth edition of the Export Potential Exhibition of the Islamic Republic of Iran (Iran EXPO 2023) is going to help Iran boost its non-oil exports. Iran EXPO 2023 is set to be held at Tehran Permanent International Fairgrounds …

French firm TotalEnergies has signed a contract to begin drilling and exploring for gas this year in waters off crisis-hit Lebanon, the company said in a statement. “TotalEnergies in agreement with its partners Eni and QatarEnergy has signed a firm contract with Transocean to hire the drilling rig that will …

Gas production in Russia decreased by 10% to 180 billion cubic meters this year mostly from Gazprom’s declining capacities, the Kommersant business daily reported Wednesday, citing an unnamed source familiar with the data. State-owned gas giant Gazprom has classified its production statistics since the start of 2023. Kommersant’s source said …

Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with …

The biggest developing economies and largest coal consumers, India and China, are seeking a G20 pledge that would leave countries to decide on “multiple energy pathways” to reduce emissions instead of setting a firm deadline for phasing out the use of fossil fuels, Indian government officials have told Reuters. India, …

Turkey’s President Recep Tayyip Erdoğan has announced a fresh discovery of a new oil reserve in the country’s eastern region. “I’d like to share some fresh good news. We have discovered oil reserves with a production capacity of 100,000 barrels per day in Cudi and Gabar,” the president said on …