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Russia is still expecting its oil export revenues to continue to increase through the next three years—even in the face of Western price caps and embargos, according to a government created forecast that was submitted to Prime Minister Mikhail Mishustin and seen by Bloomberg. The forecast, which covers the years …

India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels. The alliance, with the United States and Brazil as its founding members, would help accelerate global efforts to meet net zero emissions targets by facilitating …

China is by far the world leader in nuclear reactor development at present. The country has been rapidly expanding its nuclear energy industry in line with its renewable energy development, to diversity and become a leader in several clean energy sources. In contrast, the development of new plants in the …

European gas prices jumped on Friday after workers at liquefied natural gas facilities in Australia began strike action, stoking fears of disruption to global supplies. Prices of TTF, the European benchmark, rose 13 percent to €34.50 per megawatt hour ($10.8 per million British thermal units) according to LSEG data. The …

OPEC+ member countries saw a collective increase of 120,000 barrels per day (bpd) in crude oil production during August, driven by rises in Iraq, Iran, and Nigeria, which partially offset additional cuts by Saudi Arabia and Russia. According to the latest Platts survey by S&P Global Commodity Insights, OPEC+ production …

Lukoil PJSC’s trading unit Litasco SA is launching a Mexico operation as the oil giant seeks new markets for Russian products under widespread sanction. Litasco hired oil products trader Yuri Carreno for its new office in Mexico City, according to people with knowledge of the situation. Carreno, who previously spent …

Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices. This means some buyers may be priced out of this market for good. That, in turn, means they will turn to other sources of energy—like coal. It’s a domino effect even …

Oil prices fell on Friday as the rising value of the US dollar and pessimism over China’s economic revival blunted gains from Saudi Arabia and Russia’s supply curbs. International benchmark crude Brent traded at $89.64 per barrel at 10.01 a.m. local time (0701 GMT), a 0.31% loss from the closing …

Saudi Arabia and Russia moved with determination to support oil prices, extending their respective ongoing production and export cuts through the end of the year. In an initial response to Tuesday’s news, oil prices jumped and hit the highest level so far this year, with Brent Crude prices exceeding the …

Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies from extended production cuts in Saudi Arabia and Russia. Brent crude futures fell 24c to $90.36 a barrel by 4.12am GMT, after …