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Saudi Aramco is pushing ahead with plans for an initial public offering of its energy-trading business and is targeting a listing in Riyadh for the end of the year or early 2023, Bloomberg News reported on Wednesday. The world’s top oil producer is in the process of adding more banks …

Turkish President Tayyip Erdoğan announced on Wednesday that he had agreed with Russian dictator Vladimir Putin to form a natural gas hub in Turkey. Speaking to members of his AK Party in parliament, Erdoğan said Putin had said Europe can obtain its gas supply from the hub in Turkey. Putin …

Minister of Energy Prince Abdulaziz bin Salman and Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura underscored the significance of supporting the stability of global oil market by promoting dialogue and cooperation between producing and consuming countries. During a meeting via video conference on Wednesday, the ministers affirmed that …

Carbon dioxide (CO2) emissions from the combustion of fossil fuels globally are expected to rise by just under 1% in 2022, a much smaller increase compared to last year’s thanks to record deployment of renewable energy sources and electric vehicles, the International Energy Agency (IEA) said in a new analysis …

The Biden administration will start buying crude to replenish the strategic petroleum reserve when prices fall to between $67 and $72 per barrel, the White House said in a fact sheet. “As part of its commitment to ensure replenishment of the SPR, the DOE is finalizing a rule that will …

Amid tepid demand and high spot prices, China is expected to see an unprecedented slump in its liquefied natural gas imports this year, ceding the world’s top LNG importer status back to Japan. Chinese buyers are expected to largely stay away from spot purchases on the LNG market as inventories …

Record power generation from solar and wind helped the European Union save $10.75 billion (11 billion euros) on natural gas imports since the Russian invasion of Ukraine, a new study by environmental think tanks E3G and Ember finds. Wind and solar energy sources accounted for a record 24% of EU …

Vessel tracking data suggest that the demand for Russian crude oil seems to be picking up, especially among India, China, and Turkey, according to media reports. The three countries have been Russia’s most reliable buyers of its crude during its ongoing conflict with Ukraine amid sanctions threat, reports said. Shipments …

OPEC+’s decision to cut oil production came at the “worst possible moment” and will add to global inflationary pressure, a senior US State Department official said during a visit to the Middle East. “The impact is wide ranging,” Barbara Leaf, Assistant Secretary of State for Near Eastern Affairs, told reporters …

President Joe Biden will announce the release of 15 million barrels of oil from the US strategic reserve on Wednesday as part of a response to recent production cuts announced by the Organization of the Petroleum Exporting Countries (OPEC+) nations. As per Washington Post, he will say more oil sales …