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Saudi Arabia, the world’s biggest oil exporter, may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners have weakened, refining sources said. The July official selling price (OSP) for flagship Arab Light …

It is possible to resume production from the wells through the production of artificial lift pumps in Iran throughout the country and installing them on old wells, the production of which has been reduced, Iran’s Persia Oil and Gas Development Company Jaafar Hejazi said, Trend reports. According to him, these …

The global economy has been relatively resilient in recent months, which has led OPEC to continue to anticipate robust oil demand growth this year and next, OPEC Secretary General Haitham Al Ghais said on Monday. “For 2024, oil demand growth is at 2.2 mb/d, with total global demand anticipated to …

Huge upticks in renewable energy capacity installations around the world are causing demand for key rare earth elements to skyrocket. While these materials aren’t as geologically rare as their name might suggest, their production is limited as a finite number of already developed supply chains struggle to keep up with …

No other energy source has seen more rapid growth in the United States over the past half a decade than solar power. But soaring solar installations have begun to distort the power distribution and transmission systems in the top solar-producing states such as California, creating challenges for utilities and the …

The European Union approved on Monday a set of rules and regulations that will impose methane emissions limits and monitoring of the EU’s energy sector and oil, gas, and coal imports beginning in 2030. The new regulation on tracking and reducing methane emissions is part of the EU’s ‘Fit for …

“Gold is money. Everything else is credit,” John Pierpont Morgan famously testified while giving evidence to a congressional subcommittee. Investors and market watchers have long regarded precious metals as the ultimate safe haven, a place to fall back on when the world seems to be going to hell in a …

Saudi Arabia is preparing for a multi-billion-dollar share sale for its oil and gas company Aramco, potentially as early as June, reported Reuters, citing sources. The sources added that the divesture could fetch approximately $10bn (SR37.5bn) for the Saudi government. The sale’s specifics are still being worked out, and people …

Oil prices rose slightly in Asian trade on Monday, recovering mildly from steep losses last week as traders awaited more cues on U.S. inflation and a meeting of the Organization of Petroleum Exporting Countries this week. Still, trading volumes were expected to be limited with market holidays in the U.S. …

The United Arab Emirates is on course to achieve its full oil capacity target more than a year earlier than expected. Abu Dhabi National Oil Co.(ADNOC) is likely to reach its 5 MMbpd goal by the end of next year or early 2026, ahead of the 2027 goal the company …