Top News

The consumption of renewable energy cannot come anywhere close to overtaking oil and gas usage in the decades ahead, the Organisation of Petroleum Exporting Countries said on Wednesday. Secretary-General, OPEC, Mohammad Barkindo, said this in his special address at the S&P Global Platts Americas Petroleum and Energy Conference, with the …

A paper identifying key tipping-points for climate action across more than 20 sectors of the global economy is to be published today, outlining the technological breakthroughs key actors must deliver in order to put the world on track to net zero emissions by 2050. Named “The Race to Zero Breakthroughs”, …

Oil slid in Asia morning trade on Thursday despite a huge drop in U.S. crude stock, as the strength in the U.S. dollar and fresh fuel demand worries due to travel curbs and delays with coronavirus vaccines weighed on prices. U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, …

Tackling climate change is impossible without investment in the clean energy transition of developing countries, International Energy Agency (IEA) chief Fatih Birol said on Wednesday. Birol, who heads the Paris-based energy watchdog, said at a virtual meeting of the World Economic Forum that more than two-thirds of global emissions come …

Iran exported $594 million worth of non-oil products to Eurasian Economic Union (EAEU)’s member states, a commercial official said on Wednesday. Iran has exported $594 million of non-oil commodities to the EAEU so far, Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari said at the …

Russia’s gas production will be growing through 2030 and is expected to total from 846 bln cubic meters to around 1.03 trillion cubic meters in 2030, according to the draft general plan for development of the country’s gas sector through 2035 obtained by TASS. Russia produced 739 bln cubic meters …

Russia plans to cut its seaborne oil exports from its western ports to a three-month low in February as the country diverts crude into its local refineries to help tackle record fuel prices. The world’s second-largest exporter will cut overseas shipments of Urals crude by almost 20% in February, according …

Pars Oil and Gas Co. has refuted a report of a pressure drop impacting gas production from the South Pars field in the Persian Gulf. CEO Mohammad Meshkinfam told news service Shana that gas extraction had in fact increased by 65 MMcm since the start of the current Iranian calendar …

Soaring natural gas prices in European markets could be seen as a boon for Russian giant Gazprom to increase its gas exports towards the Old Continent. But instead, somewhat surprising, Gazprom is adopting the exact opposite strategy, drastically reducing its physical deliveries of natural gas to the EU. Since the …

Oil prices fell on Tuesday as fading hopes for a rapid approval of new U.S. economic stimulus and mounting new coronavirus cases raised questions over the pace of any recovery in demand, Trend reports with reference to Reuters. Brent crude was down 28 cents, or 0.5%, at $55.60 by 0431 …