Top News

Russia would prefer its partners of the OPEC+ group to leave oil production unchanged when it meets next week, as Moscow is okay with the current oil prices and production quotas, sources with knowledge of the Russian position told Reuters on Friday. OPEC+, which will hold a meeting on June …

Global investment in clean energy is on course to rise to USD 1.7 trillion in 2023, with solar set to eclipse oil production for the first time. Investment in clean energy technologies is significantly outpacing spending on fossil fuels as affordability and security concerns triggered by the global energy crisis …

Lloyd’s Register has removed the certification of 21 vessels operated by Indian shipping company Gatik Ship Management, which is one of the biggest shippers of Russian oil abroad. “Lloyd’s Register is committed to facilitating compliance with sanctions regulations on the trading of Russian oil,” Lloyd’s Register told Reuters, which reported …

Amid a slump in EU gas prices, the continent is rushing to diversify its natural gas imports. Oilprice.com wrote yesterday that Russian gas giant Gazprom has seen its 2022 revenue and market share in Europe collapse as a result of Western sanctions. While Russia is busy trying to re-route exports …

Surging hydroelectric power, new nuclear reactors online, and an influx of solar and wind capacity additions sent electricity prices in Finland below zero on Wednesday, in a stark reversal from last year when residents were warned of shortages after Russia cut off pipeline gas supply to its EU neighbor. “The …

Exxon and its partners in the offshore Stabroek Block in Guyana have made almost $6 billion from their operations. Citing official documents, Reuters says audited financial results show that Exxon, Hess Corp., and CNOOC earned a combined 5.8 billion from the Guyana business in 2022. Exxon’s individual share of the …

Last year, Europe was in the grips of a gas crunch that sent the price of electricity—and everything produced with its participation—soaring. Then the crisis eased, thanks in no small part to the unusually mild winter as well as to record high U.S. LNG imports. Now, food prices are soaring. …

Shenzhen-listed Jilin Jinguan Electric Co Ltd signed a memorandum of understanding (MoU) to build a road between Iran and Russia for the construction of new energy facilities, it said on Wednesday. The company plans to build 70 optical storage and charging stations worth 1.4 billion yuan and 3,400 charging facilities …

About a dozen Japanese companies, including major shipbuilders, have invested a total of about 10 billion yen ($72 million) in a British start-up developing floating offshore nuclear power plants, sources familiar with the matter said Wednesday. Onomichi Dockyard Co. and Imabari Shipbuilding Co. are among the companies that provided funds …

Cooler temperatures this week and a dip in available wind power this month are boosting the demand outlook for June for U.S. natural gas, leading to nearly 3% price gains on Wednesday. At 9:45 a.m. EST on Wednesday, U.S. natural gas futures were trading up 2.93% at $2,389 per million …