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OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic. OPEC+ cut its production 15 per cent deeper than planned in September, compared with 16 per cent in August and 9 per …

Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Brent crude oil futures rose 87c, or 1%, to $85.73 a barrel by …

Remote, quiet but energy-rich: the coastal area of Lubmin in north Germany hosts the world’s most controversial gas pipeline. Nord Stream 2 stretches for 1,200 kilometres from Vyborg in Russia through the Baltic Sea to Lubmin in Germany, bypassing Ukraine and Poland. The gas pipeline is finished, but it is …

U.S. refiners are expected to show higher earnings for the third quarter as margins to sell gasoline and diesel have improved despite the surging cost of crude oil, analysts said. After more than a year of depressed fuel demand, gasoline and distillate consumption is back in line with five-year averages …

The EU’s jobs and social rights commissioner has warned of rising energy poverty in Europe as prices climb. Nicolas Schmit told dpa there are millions already who suffer from energy poverty in the bloc, and said the number could keep growing. The EU Commission could help EU countries limit the …

The US Energy Information Administration (EIA) said on Sunday that Iraqi crude oil exports to the US rose to 188,000 barrels per day (bpd) during the past week. According to a report released by the EIA, “The United States imported crude oil from Iraq at a rate of 188,000 bpd, …

The Covid-19 pandemic has led to many unforeseen consequences, and right now we may be approaching one of the biggest: the possible neutering of the green energy movement. Prices of fossil fuels are rising sharply, and most of the world is responding by trying to get those prices back down …

Forty global cement and concrete manufacturers have pledged a new 25 percent reduction in CO2 emissions by 2030. The Global Cement and Concrete Association (GCCA) is aiming to accelerate the long-term shift to greener concrete, as part of the industry’s wider plans to achieve net-zero in concrete manufacturing by 2050 …

The coalition that will form the government to succeed Germany’s Angela Merkel has agreed to phase out coal by 2030, eight years than currently planned, Reuters reported on Friday. The center-left Social Democrats, the Greens, and the liberal Free Democrats have agreed on a plan for Germany to exit coal …

Managing Director of National Iranian Oil Company (NIOC) has said his company is going to benefit from the potentials of the country’s private sector to maximize oil and gas condensate sales in the future, Shana reported. Referring to the NIOC plans in the oil sales sector, Mohsen Khojasteh Mehr said: …