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Russian President Vladimir Putin on Thursday said that the country’s natural gas must be paid for with rubles, a demand apparently intended to help bolster the Russian currency, but one that European leaders say they will not comply with because it violates the terms of contracts and sanctions. Putin said …

The head of Latvia’s natural gas storage operator said April 2 the Baltic states were no longer importing Russian natural gas. “If there were still any doubts about whether there may be any trust in deliveries from Russia, current events clearly show us that there is no more trust,” said …

Japan may expand a subsidy programme for gasoline and other fuels among measures under consideration to ease soaring energy costs, the industry minister said on Sunday (Apr 3). The measure will be part of a fresh relief package which Japanese Prime Minister Fumio Kishida ordered his cabinet last Tuesday to …

China has unveiled a five-year plan, from 2021 to 2025, on developing energy technologies to propel green growth and digital transformation of the energy sector, the National Energy Administration (NEA) said Saturday. The country will focus on developing new technologies to render a more efficient, cost-effective and reliable supply of …

Iran’s oil exports have seen a 40-percent rise and the capacity of oil production has reached pre-sanctions level despite sanctions and economic pressure, the CEO of National Iranian Oil Company (NIOC) said on Sunday. Mohsen Khojasteh-mehr said that Iran is in the first place of the world in aggregate oil …

Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia’s invasion of Ukraine, the oil ministry said. The second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues …

German Chancellor Olaf Scholz has announced that Russian President Vladimir Putin has climbed down from a demand that Europe pay its gas bills in rubles and will allow payment in euros for the meantime, Deutsche Welle (DW) reported on March 30. The Russian leader said money would be paid into …

Japan has no plans to withdraw from a joint Russian oil and gas project, despite joining tough sanctions on Moscow over its Ukraine invasion, Prime Minister Fumio Kishida said Thursday. Energy resource-poor Japan is attempting to balance its need for fossil fuels with toeing a hard line on Russia, and …

Oil prices dropped sharply on Thursday after reports that U.S. President Joe Biden is considering the release of up to 180 million barrels from the country’s strategic petroleum reserve (SPR). Biden is set to give remarks later on Thursday, with multiple outlets reporting that the plan to cool soaring crude …

Hyundai Motor Group said on Wednesday it will collaborate with Saudi Aramco and a Saudi Arabian university to jointly develop an environment-friendly fuel and engine for vehicles. Hyundai, Aramco, and King Abdullah University of Science and Technology (KAUST) plan to develop an advanced fuel for ultra-lean burn, spark-ignition engines to …