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If the current increase in Nigeria’s oil production is sustained, the country may not find much trouble financing its 2023 budget, with the Vitol Group, the world’s largest energy trader predicting yesterday that oil prices could return to triple digits later this year. Vitol’s Chief Executive Officer, Russell Hardy, said …

Oil prices could hit the $90-$100 per barrel range in the second half of this year as global demand is set to reach record levels amid constrained supply, Russell Hardy, CEO at the world’s largest independent oil trader, Vitol Group, has said “The prospect of higher prices in the second …

European gas demand is expected to be “broadly flat” this year after falling to an all-time low in 2022 following the curtailment of Russian exports, the International Energy Agency said. But there is a “high” level of uncertainty about Russian supply cuts and the possible economic effect of volatile energy …

Southwest China’s Yunnan Province on Monday inked photovoltaic project deals with a total generation capacity of 10 gigawatts in a green drive to alleviate its power supply shortage. Yunnan Provincial Energy Investment Group and Yunnan Provincial Investment Holdings Group signed the project deals with parties from seven prefectures and cities …

Oil prices slid on Monday as recent economic data from the US, the world’s largest oil consumer, suggests that the US Federal Reserve will maintain its hawkish stance on interest rates, supporting the dollar near multi-week highs. International benchmark Brent crude traded at $82.31 per barrel at 9.58 a.m. local …

The value of Iran’s non-oil exports rose 12.22 percent during the first 11 months of the current Iranian calendar year (March 21, 2022-February 19, 2023), as compared to the same period of time in the past year. According to Mohammad Rezvani-Far, the head of the Islamic Republic of Iran Customs …

A year into an unprecedented energy crisis that rocked the European Union, officials in Brussels are ready to unveil their plan to prevent consumers from facing huge swings in electricity prices in the future. While some EU leaders pledged massive overhaul, what’s likely to emerge is anything but radical. Power …

The system of main oil pipelines of the KazTransOil national company started receiving Kazakh oil for transportation to Germany on Feb. 23, said Shyngys Ilyasov, director of the public relations and internal communications department at KazTransOil, in a press statement. According to the oil supply schedule approved by the Kazakh …

In the winter of late 2022 and early 2023, Europe got lucky. It got very lucky. Gas storage sites were fuller than usual because of the massive LNG-buying effort the EU put into securing gas for the winter, and the winter itself turned out to be warmer than usual. Yet …

With EU bans on Russian oil and oil-product exports set to go into effect this year in response to Russia’s ongoing war in Ukraine, emerging market producers are poised to gain larger shares of an evolving market. EU bans against Russian oil products such as diesel were rolled out earlier …