Top News

The total number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 758 this week—88 rigs higher than the rig count this time in 2022 and 317 rigs lower …

High export demand for LNG and higher domestic natural gas consumption pushed U.S. gas demand to higher levels than supply last year, resulting in the highest average Henry Hub spot price since 2008, the Federal Energy Regulatory Commission (FERC) said in its 2022 State of the Markets report. Yet, U.S. …

Greek ships remain the dominant force shipping Russian crude, increasing their market share significantly since the December 5 ban on Russian oil exports started, according to new data from freight data firm Vortexa. Greek and other foreign owners are allowed to transport crude and products out of Russia under an …

A burgeoning row between France and Germany fired by differences over nuclear energy and combustion engines threatens to spill over into a gathering of the 27 European Union leaders on Thursday (23 March). A row erupted between two of the European Union’s biggest economies after Berlin upset some of its …

Oil prices fell on Thursday amid concerns surrounding the US banking sector and worry over lower oil demand. International benchmark Brent crude traded at $76.27 per barrel at 10.14 a.m. local time (0714GMT), a 0.55% decrease from the closing price of $76.69 a barrel in the previous trading session. At …

Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a new report on Wednesday. ETSs generally set the total amount of greenhouse gases that can …

On February 13, the groundbreaking ceremony was held in Baku for the largest thermal power station (TSP) yet to be built in Azerbaijan with a planned capacity of 1,280 megawatts (MW) (Apa.az, February 13). The project’s total value is estimated at around $400 million, which is two to three times …

Oil prices slid on Wednesday over bearish demand indicators driven by expected rise in US crude oil stockpiles, coupled with lingering effects of US bank collapses and upcoming US Fed decision on interest rate. International benchmark Brent crude traded at $74.91 per barrel at 10.09 a.m. local time (0709GMT), a …

Global renewable generation capacity increased by 9.6%, or 295 gigawatts (GW) last year, amounting to a total of 3,372 GW, the International Renewable Energy Agency (IRENA) revealed in a recent report. Renewables delivered 83% of all electricity capacity installed last year, according to IRENA’s Renewable Capacity Statistics 2023. The report …

China’s installed renewable energy capacity significantly increased in the first two months of 2023, according to data from the country’s National Energy Administration showed on Tuesday. By the end of February, the installed capacity of wind power of China rose 11% year-on-year to nearly 370 million kilowatts. Meanwhile, the installed …