Top News

Oil prices rose about 2% in volatile trade on Friday but were still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks around the world are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle …

European countries are attempting to substitute Russian energy resources, but it will lead to price growth, Russian President Vladimir Putin said on Friday at the Cabinet meeting. “Europeans are attempting to substitute Russian energy resources, but the outcome of such actions is expectable – this is the gas price increase …

Italian energy company Snam acquired a new floating regasification vessel from BW LNG company to contribute to Italy’s energy security and diversification. The vessel has a maximum storage capacity of 170 thousand cubic metres of liquefied natural gas (LNG) and a continuous regasification capacity of about 5 billion cubic metres …

The European Union plans to become the top investor in the world’s tallest dam in Tajikistan, EU officials told Reuters, in a move aimed at helping Central Asia cut its reliance on Russian energy and part of EU’s answer to China’s Belt and Road Initiative. Tajikistan began in 2016 the …

Countries need to expand manufacturing of solar panels from their current concentrated base in China to ensure secure supply and meet targets for cutting planet-warming carbon emissions, the International Energy Agency said on Thursday. The world needs to double its current capacity to produce the “key building blocks” of solar …

Asian petrochemical markets are in a jam, with price bearishness across the board as recession risks continue to mount. Elevated concerns on the economic front, from the fallout of the Russia-Ukraine conflict and sanctions on Russia, plus fears of upward spiralling inflation continue to weigh on sentiment. The increase in …

Royal Dutch Shell will build the largest renewable energy plant in Europe, as its subsidiaries Shell Nederland B.V. and Shell Overseas Investments B.V. have made a final investment decision on the project, Trend reports with reference to the company. Reportedly, Holland Hydrogen will be operational in 2025. “The 200MW electrolyser …

European Commission chief Ursula von der Leyen has said the European Union needs to make emergency plans to prepare for a complete cut-off of Russian gas in the wake of the Kremlin’s war in Ukraine. The EU has already imposed sanctions on Russia, including on some energy supplies, and is …

The Iranian foreign minister says if the United States wants a lasting nuclear agreement with Iran, it has to stop insisting on its unilateral demands. Hossein Amirabdollahian wrote on his twitter account on Tuesday that he spoke with the EU Foreign Policy Chief Josep Borrell on the phone discussing the …

Asian stocks slipped and the dollar stood by a two-decade high on the euro on Wednesday as investors’ fears deepened that the continent is leading the world into recession, while oil and European equity futures attempted to steady after a slide. Brent crude futures bounced 1.4% in morning trade to …