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Natural gas prices in Europe extended losses on Thursday as weather forecasts pointed to warmer temperatures, further delaying the start of the heating season in the region. Benchmark futures declined as much as 9.1%, following a slump of 8.2% on Wednesday. Warmer weather is expected in Scandinavia while above normal …

Oil prices fell for a second day in early Asian trade on Thursday (Nov 17) as concerns over geopolitical tensions eased and rising numbers of COVID-19 cases in China added to demand worries in the world’s largest crude importer. Brent crude futures dropped by 62 cents, or 0.7 per cent, …

Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, is looking to expand into the GCC as drilling activity increases after a surge in crude oil prices, according to the company’s chief executive. Rig activity in the GCC, which includes Bahrain, Kuwait, Qatar and …

Saudi Aramco announced its biggest ever investment in South Korea to develop one of the world’s largest refinery-integrated petrochemical steam crackers through its S-OIL affiliate. In a statement received by Argaam Aramco said, the SAR 26 billion ($7 billion) Shaheen project aims to convert crude oil into petrochemical feedstock. This …

Germany is behind in its plan to expand its gas turbine capacity to 30 GW by 2030—the amount needed to stabilize its electricity distribution networks, according to General Electric. Just 4 GW of turbine capacity are in the planning stages. But the timeframes needed to get from the planning stage …

BP is paying more tax as it is making more profit, its UK head Louise Kingham told the Reuters Energy Transition Europe 2022 event on Wednesday. “It’s right that (the government) should think about how they protect the most vulnerable and taxation is not for companies to determine,” Kingham said. …

China is adding coal plants to tackle energy security concerns, but this doesn’t mean it is backing away from its previously stated emissions curbs, Chinese delegates said at the COP27 summit this week. China may be adding new coal plants to prevent a repeat poor performance from recent years that …

American and European start-ups are racing to develop new batteries using two abundant, cheap materials — sodium and sulphur — that could reduce China’s battery dominance, ease looming supply bottlenecks and lead to mass-market electric vehicles. Today’s EVs run on lithium-ion batteries — made with lithium, cobalt, manganese and high-grade …

COP27 is highlighting the controversial and sometimes contradictory nature of carbon credits as proposals for crediting schemes spark debate and even heckling at the event currently in its second and final week in Sharm El Sheikh, Egypt. While some argue that a carbon credit scheme is an essential form of …

Analysts agree that the severe economic impacts of the energy crisis are being felt in almost all economic sectors in Europe, and the problems are bound to remain until the conflict between Russia and Ukraine is resolved. The crisis in Ukraine has sent energy prices surging, which in turn pushed …