Top News

NASA is accelerating plans to set up a nuclear reactor to the Moon by the end of the decade, to power bases there and help America be the first nation to have an energy base powered by 24/7 nuclear power on the Moon and win the “second space race” with …

Continued weaker demand for hybrid vehicles slowed the growth in China’s new energy vehicles to 12% in July from nearly 20% in June, according to official Chinese data published on Friday. Overall Chinese car sales also saw slowing growth last month, as the government is trying to tackle the overcapacity …

Russia’s Urals crude grade, which usually goes from the western Russian ports to India, is now being offered at discounts in China amid uncertainties over Indian purchases of Moscow’s oil following the additional tariffs. Spot Urals shipments going to China would be a significant re-routing of the Russian oil export …

Exxon has inked a preliminary deal for exploration at four offshore blocks in Libya after a decade of absence from the country. The news was reported by Libya’s National Oil Corporation, which said the U.S. supermajor will conduct a detailed technical study of the blocks that are located off the …

U.S. President Donald Trump on Monday said he would “substantially raise tariffs” on Indian exports in response to the country’s continued import and resale of Russian crude oil. The remarks, posted on Truth Social, marked the first time Trump directly tied trade penalties to India’s energy sourcing decisions, according to …

Hammerfest LNG, the liquefied natural gas export facility in Norway, is back online following more than three months of scheduled maintenance works. The return of LNG supply from Norway, which is also Europe’s top pipeline gas supplier having replaced Russia in 2022, contributed to the fall in Europe’s benchmark natural …

Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations and exports that were prohibited in May. Venezuela also exported about 227,000 …

Tankers loaded with Russian crude that had stayed idle off India’s coast for days discharged their cargo at Indian oil import terminals over the weekend, in defiance of the U.S. threats of additional “penalties” on the world’s third-largest crude importer for buying Russian oil. While Indian refiners last week were …

BP announced on Monday a significant oil and gas discovery in Brazil’s prolific offshore Santos Basin, the supermajor’s biggest in 25 years. BP’s exploration well in the deepwater Bumerangue block found an estimated 500 meter (1,640 ft) gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent of …

Goldman Sachs has maintained its oil price forecast for Brent crude, seeing the benchmark averaging $64 over the fourth quarter of the year despite recent developments that have pushed both Brent and West Texas Intermediate higher. “Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to …