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Oil declined as China’s modest new growth ambitions and the prospect of tighter U.S. monetary policy posed headwinds for global fuel consumption. West Texas Intermediate traded below US$79 a barrel after gaining more than four per cent last week. China’s Premier Li Keqiang announced a goal for gross domestic product …

Saudi Aramco raised the official selling price for the crude oil it exports to Asia and Europe for yet another month, with the flagship Arab Light to sell in April for $0.50 more than in March. The price hike for Arab Heavy was even more pronounced, at $2.50 per barrel, …

The Head of the Atomic Energy Organization of Iran (AEOI) said Iran is committed to IAEA protocols and nuclear-NPT, but IAEA supervisions must be within our frameworks and reservations. Mohammad Eslami said in a press conference on Sunday in response to a question about being satisfied with the recent visit …

India’s imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. Iraq, whom Russia has toppled to become the largest oil source for India, supplied 9,39,921 barrels per day …

Global CO2 emissions from the energy sector inched up 0.9% in 2022 to reach a new record of 36.8bn metric tons, the International Energy Agency (IEA) reported on March 3, in part as a result of soaring gas prices that led more countries to burn more coal. Last year also …

Oil prices fell in morning trading on Monday after China’s set a modest target for economic growth for this year. Brent, the benchmark for two thirds of the world’s oil, was trading 0.71 per cent lower at $85.26 a barrel at 9.58am UAE time while West Texas Intermediate, the gauge …

Italy’s Eni and the UAE’s Abu Dhabi National Oil Co. have signed a memorandum of understanding to explore collaboration in the development of renewable energy, blue and green hydrogen and carbon, capture and storage amid ADNOC’s plans to hit net zero scope 1 and scope 2 emissions by 2050. The …

With global geopolitical instability elevating the threat of cyberattacks against businesses and government agencies, the six countries of the GCC are rapidly building more robust and comprehensive cybersecurity strategies to respond to the evolving nature of cyberthreats. In a January 2023 survey of 117 global leaders from 32 countries and …

China signaled coal will retain its role as the country’s mainstay fuel even as the government continues to support the expansion of its world-leading clean energy industry. The nation that mines and burns more than half the world’s coal will keep supporting the fuel, while targeting more efficient consumption and …

India’s imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel …