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The U.S. will always play an important role in global energy markets, even though President-elect Joe Biden is likely to be less vocal than President Donald Trump about oil, the UAE’s energy minister told CNBC ahead of Inauguration Day. “The United States of America is a major player now … …

Suddenly, the outlook for oil prices has changed dramatically. From a situation at the end of last year when there was talk of Brent crude “stuck” at $50-$55 per barrel, many experts are now looking for upward of $60 in 2021, with some of the more bullish targeting $65 by …

The Organisation of the Petroleum Exporting Countries has expressed its support for the adoption of electric vehicles in a sustainable manner as well as renewable energy as part of efforts to reduce emissions. The Secretary-General, OPEC, Mohammad Barkindo, who spoke at the Atlantic Council Global Energy Forum 2021 on Tuesday, …

Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Wednesday, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming. The announcements will also include a sweeping order to review all of …

Global energy majors including Royal Dutch Shell and Total are expected to benefit most from January’s gas price spike, beating rival trading houses and non-integrated producers thanks to their access to multiple sources of the fuel. Asian liquefied natural gas (LNG) prices have rocketed to record highs in January due …

Russian state gas company Gazprom acknowledged there is a risk that its undersea pipeline to Germany could be suspended or cancelled after the United States imposed sanctions on Tuesday on a Russian ship involved in its construction. Germany’s Economy Ministry said it had been informed in advance of the new …

Oil-producing group OPEC will continue to strengthen its relationship with the U.S. energy industry under Joe Biden’s new administration, the oil cartel’s Secretary General Mohammed Barkindo told CNBC on Tuesday. It comes despite the Democratic leader’s stated commitment to fight climate change and focus on renewable energy. Barkindo congratulated Biden …

Saudi Arabia, the world’s biggest oil exporter, beat Russia to keep its ranking as China’s top crude supplier in 2020, government data showed on Wednesday. China’s oil demand remained strong last year even as the COVID-19 pandemic hammered appetite for fuel elsewhere. The world’s top oil importer, brought in a …

The United Arab Emirates can become one of the world’s biggest and lowest-cost producers of blue hydrogen, Abu Dhabi National Oil Co. Chief Executive Officer Sultan Al Jaber said. The OPEC country aims to cut its emissions by 24% by 2030 compared with 2016, Al Jaber said Tuesday at the …

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Monday said fuel prices had gone up because of lower production in oil-producing nations due to the coronavirus pandemic. This lower production had caused an imbalance in demand and supply, the minister said. “Oil producing countries stopped production or reduced …