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Energy and Natural Resources Minister Fatih Dönmez has said Turkey must concentrate on producing its own natural gas not to be affected by the fluctuations in global energy prices, adding that the quality of the natural gas discovered in the Black Sea was high. “If we had oil, natural gas …

Iran insisted on Monday that the United States and its allies promise to allow Tehran to export its crude as negotiations on restoring the tattered nuclear deal were to resume in Vienna. The remarks by Iranian Foreign Minister Hossein Amirabdollahian signal that Iran is pressing its position ahead of the …

Iranian Oil Ministry and the Academic Center for Education, Culture, and Research (ACECR) have signed two memorandums of understanding (MOUs) and two contracts for expanding cooperation in various areas. The mentioned agreements were signed on Monday by ACECR Head Hamidreza Tayebi and the representatives of companies affiliated with the Oil …

US oil may retest a resistance at $73.99 per barrel, a break above which could lead to a gain into $74.98-$76.59 range. The contract is riding on a fierce wave (c), which has briefly travelled above the peak of the wave (a) around $72.87. It is expected to extend into …

China’s oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday. Last year, the research group, called the CNPC Economics & …

A surge in renewable energy in India is set to massively increase spot power trading, according to the country’s largest electricity bourse. Buyers will increasingly turn away from traditional long-term contracts in favor of cheaper renewable energy, said Rohit Bajaj, head of business development at Indian Energy Exchange Ltd. More …

Oil climbed as investors weighed a surge in Omicron cases against signs that the new strain is not as severe as previous waves. Brent was 0.39 per cent higher at 9.40am UAE time after losing 0.9 per cent in the previous session. West Texas Intermediate, which didn’t trade on Friday …

Japan’s industry ministry said on Monday it will hold an auction on Feb. 9 to sell about 100,000 kilolitres, or 628,980 barrels, of crude oil from its national reserve as a part of a U.S.-led coordinated release of oil reserve to cool rising prices. The supply, to be taken from …

Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. The value of exports jumped to 106.2 billion riyals ($28 billion) from 55.9 billion riyals a year ago, according to the kingdom’s General Authority for Statistics. The share of oil in total exports …

As part of its pledges during the COP26 climate summit last month, India—where coal currently accounts for around 70% of electricity generation—committed to net-zero emissions by 2070, and 500 gigawatts (GW) of installed renewable energy capacity by 2030. In late October, an expert committee appointed by the power ministry submitted …