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Shipping major Mitsui OSK Lines (MOL) on August 30 launched the second of Japan’s first two LNG-fuelled ferries. The ceremony was held at the Enoura plant of Mitsubishi Heavy Industries. The vessel, named Sunflower Murasaki, was ordered from Mitsubishi Shipbuilding Co. and will be delivered in March 2023. It is …

Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement dropped 81c, or 0.7%, to $104.28 a barrel …

With winter just around the corner, Germany has been desperately trying to fill up its gas reserves. On Sunday, the German Vice-Chancellor confirmed that the reserves were filling up quickly, easing fears of households not having access to heating in the coming months. German gas reserves target set to be …

South Korea seeks to expand its generation of nuclear power to nearly 33 percent of its total energy creation by 2030 in a move to boost energy security and to better meet net-zero goals, the industry ministry said Tuesday. Under the blueprint for the country’s electricity supply through 2036, the …

French energy giant TotalEnergies has agreed to divest its 49% stake in Termokarstovoye gas and condensates field in Serbia, Russia to its local joint venture partner Novatek. The transaction includes the sale of Terneftegas, which operates the Termokarstovoye oil and gas field. Upon the completion of the transaction, Novatek will …

An International Atomic Energy Agency (IAEA) mission will visit the Zaporizhzhya Nuclear Power Plant this week, IAEA Director General Rafael Grossi said. “Proud to lead this mission which will be in the Zaporizhzhya Nuclear Power Plant later this week,” Grossi said on a social network. He said the mission, which …

Oil prices rose 1 percent on Monday, as expectations OPEC will cut output if needed to support prices, conflict in Libya, and rising demand amid soaring natural gas prices in Europe helped offset a dire outlook for growth in the United States. US West Texas Intermediate (WTI) crude futures jumped …

The German government has created a holding company for nationalizing the German branch of Russia’s Gazprom. Germany wants to carry out the nationalization as soon as possible. The former Gazprom Germania was initially renamed Securing Energy for Europe (SEFE), and then in June renamed Securing Energy for Europe Holding GmbH …

India is pushing ahead with plans to boost the country’s nuclear power capacity to meet its growing energy needs and reduce its carbon footprint. This is despite hurdles such as the cost and public opposition owing to safety concerns. The Indian government plans to triple its nuclear power generation capacity …

Covid lockdowns, a property market crisis and a struggling domestic economy weren’t enough to slow down China’s oil giants as they posted record first half profits. PetroChina Co., Sinopec and Cnooc Ltd. each said they made historic amounts of money in the January-to-June period as surging prices for the oil …