Top News

The head of the International Atomic Energy Agency said his body is ready to send a monitoring team upon request to check treated radioactive water set to be discharged from the crippled Fukushima No. 1 nuclear plant to address concerns over environmental impact. “We can cooperate if the government of …

The OPEC+ group may prolong its current strategy to manage oil markets until the end of 2022 in order to keep speculators “on their toes”, Saudi energy minister Prince Abdulaziz bin Salman and Russian deputy prime minister Alexander Novak said in a joint press conference Dec. 19. The show of …

A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand and prices in the second half of next year, Trend reports with reference to UK-based Capital Economics research and consulting company. “Indeed, after crashing in early 2020 in response to widespread …

Libya’s crude oil production continues to increase as one of its companies has nearly doubled its output to 100,000 barrels per day (bpd) compared to production levels before the blockade of Libyan oil ports and oilfields in January. Libya’s Sirte Oil and Gas Production and Processing Company has nearly doubled …

China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s research think-tank as saying in its annual report. “China’s oil products will enter a final growth phase before peaking in …

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 263. The total number of active oil and gas rigs increased for the week by 8. The oil and gas rig count has risen for four weeks in a row for …

Eight energy companies including BP, Shell and Total have agreed to apply a common set of “energy transition principles” across their businesses, including a commitment to industry decarbonisation. Six principles have been devised in collaboration with with investor lobby group Climate Action 100+. The eight companies comprise the three European …

Global demand for coal is set to jump 2.6% next year after a record pandemic-led drop this year, as recovering economic activity will lift use for electricity and industrial output, the International Energy Agency (IEA) said on Friday. Demand for thermal and metallurgical coal should rise to 7,432 million tonnes …

Global gas demand will not decline in coming 25-30 years, it will only rise due to a small carbon footprint, Russian Deputy Energy Minister Pavel Sorokin told a forum on Friday. “Due to the fact that gas has the smallest carbon footprint we do not expect a decline in gas …

The Russian government has approved the participation of the China Petroleum & Chemical Corporation (Sinopec) in a large petrochemical project. Thus, the Cabinet, led by Michail Mishustin, is acting in accordance with Moscow’s strategy of establishing closer economic relations with Beijing. As per a framework agreement signed by the parties …