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Citi predicts that oil prices will plummet to the $60s range by 2025 as inventories build following a tight market this summer, signaling a bearish outlook despite current robust demand and higher prices. Oil has recouped the losses from early June when the OPEC+ group’s indication that it could begin …

Recent years have witnessed an increase in global uncertainties, driven by economic, political and technological shifts, adding complexity to the environment in which countries operate and their energy transition trajectory. Geopolitical tensions pose risks to energy security and hinder international co-operation, according to the World Economic Forum (WEF). Ongoing conflicts …

India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data. That boosted Russia’s share in the world’s third largest importer and consumer to …

The Indian Petroleum and Natural Gas Regulatory Board (PNGRB) is considering increasing regulatory control over India’s LNG import terminals, which could slow investments in the sector due to the potentially tightened oversight. PNGRB has issued a draft proposal of new regulations which include certification of registration by PNGRB for each …

Norway’s government appointed on Friday a committee tasked with considering whether the country should develop nuclear energy as an electricity source. Kristin Halvorsen, a former finance minister and currently director of the Center for International Climate and Environmental Research in Oslo, will lead the committee, which is set to deliver …

Chinese engineering company Wison New Energies has decided to discontinue all ongoing Russian projects and will immediately and indefinitely stop taking any new Russian business, dealing a blow to the Arctic LNG 2 project. “In view of the strategic future of the company, we have to make this difficult decision,” …

The European Commission has allowed Germany to grant $3.2 billion (3 billion euros) in state aid to support the construction of a pipeline system for hydrogen transportation. The European Commission said on Friday that it had approved, under EU State aid rules, the German scheme to support the construction of …

Equinor ASA has been awarded licenses for the development of two new carbon dioxide (CO2) storage areas in the North Sea by the Norwegian Ministry of Energy. Equinor was awarded 100 percent share in each of the two licenses, referred to as Albondigas and Kinno. The new licenses are important …

New research from the Institute for Energy Economics and Financial Analysis (IEEFA) shows that over 800 coal-fired power plants could be profitably replaced by solar power in emerging economies starting at the end of this decade. This is both a surprising and hopeful finding, as the lack of affordability of …

Copper demand continues to surge globally. And as the rest of the world struggles with the rising price of copper and the ever-changing copper market, guess who is sitting pretty? Hint: it’s China. Despite fears of a worldwide copper shortage driving copper prices to new highs, the world’s largest producer …