Oil trading giants and the national oil companies of some of the Middle East’s biggest oil producers are in the race to buy Shell’s South African service stations as they look to expand their access to downstream assets. The world’s largest oil firm and oil exporter, Saudi Aramco, the national …
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Iranian Ambassador to Russia Kazem Jalali says that Russia’s investment in Iranian oil fields is among the areas of energy cooperation between Tehran and Moscow. “We are cooperating with our Russian partners in the energy sector. First, there are investments by the Russian side in Iranian oil fields. We are …
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The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had risen during the past week. “In a span of a week, the US imports of crude oil from nine major countries amounted to 4.876 million bpd, down by 732,000 bpd from the previous …
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Oil posted its biggest weekly drop in 11 months as a weak US jobs report added to concerns about tepid demand in the world’s largest consumer of crude. West Texas Intermediate fell 2.1% to settle at $67.67 a barrel, cementing the biggest weekly plunge since October 2023. While the US …
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In addition to the most popular renewable energy sources – solar and wind power – several countries are investing in the development of their hydropower capacity as they look to diversify their energy mix in pursuit of greater energy security. The hydropower market is valued at an estimated $251.58 billion …
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The pace at which China will reduce its greenhouse gas emissions will be critical to reaching the global targets to fight climate change, Germany’s climate envoy has said. “What China decides to do in its NDC is probably the most important thing to keeping that 1.5-degree target in sight,” Jennifer …
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The European Union will receive natural gas supplies that may have Russian gas mixed in, Czech energy minister Jozef Sikela told Bloomberg. Sikela has been tapped by the Czech government to be its member of the European Commission, and European Commission President Ursula von der Leyen has been said to …
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Japan’s Toyota Motor Corporation has drastically cut its electric vehicle production target by 30% compared to previous plans, on the back of the slower EV uptake globally, Nikkei reported on Friday. Toyota, one of the world’s biggest car manufacturers, now aims at rolling out 1 million EVs in 2026, down …
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The secretary general of the Organization of Petroleum Exporting Countries (OPEC) has thanked Iran’s former Oil Minister Javad Oji for his positive contribution to the organization, Tasnim News Agency reported. In a message to Oji, Haitham al-Ghais said: “I have received the news of the change in the oil ministry …
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A sanctioned LNG carrier is enroute to the Arctic LNG 2 facility to load what would be the fourth cargo of liquefied gas from the newest LNG facility in Russia. Bloomberg cited ship-tracking data as showing Everest Energy moving to the facility on the Gydan Peninsula in Siberia. The vessel …
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