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Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. “The spare capacity is shrinking.” His comments come with crude prices having soared …

Oil prices edged higher on Tuesday after trading down earlier, looking set to sustain a rally driven by strong demand in the US, the world’s biggest consumer of oil and its products. Brent crude was up 13c or 0.2% at $86.12 a barrel by 0427 4.27am GMT, after gaining 0.5% …

European Union energy ministers are set for another spat over how to cushion consumers and companies from soaring power and natural gas prices, with political and legal constraints leaving little room for immediate action. At an emergency meeting in Luxembourg on Tuesday, the ministers will discuss how the EU could …

Saudi Aramco said that oil-output capacity across the world is dropping quickly and that companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. His comments come with crude prices having soared 70% this year …

The European Union’s top negotiator will meet his counterpart from Tehran this week in Brussels for talks on restarting negotiations over Iran’s nuclear deal, a spokesman for the bloc said on Monday. “I can confirm that a bilateral meeting with his Iranian counterpart is planned for this week,” spokesman Peter …

Russian natural gas supplied to Europe has the minimal carbon footprint and meets all EU climatic requirements, Deputy CEO of the Russian gas holding Elena Burmistrova said in an interview with the Gazprom’s corporate magazine. The European Union has recently announced plans to introduce the carbon duty in 2026 at …

Third Iran-Germany Joint Energy Committee meeting will be held on Tuesday, October 25, Trend reports citing ILNA. The meeting will be held online, via a video conference. The Iranian delegation will be represented by Oil Minister Jawad Owji. According to ILNA, the first Iran-Germany Joint Energy Committee meeting was held …

China will work toward having 80% of its total energy mix from non-fossil fuel sources by 2060 and 1,200 GW of solar and wind generation capacities by 2030, according to a high-level policy framework for achieving peak carbon and carbon neutrality, published by the State Council, the country’s highest executive …

In its International Energy Outlook 2021, the EIA projects that global energy-related carbon dioxide emissions will increase for countries both inside and outside of the Organisation for Economic Co-operation and Development (OECD) over the next 30 years under current laws and regulations. Between 2020 and 2050, the EIA projects that …

China will modify its current energy structure with measures including establishing a carbon dioxide emissions scale control system and restricting coal-fired power projects, He Lifeng, chairman of National Development and Reform Commission, said in an article published in the People’s Daily on Monday. The article, which reinitiated the efforts that …