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Oil prices in world market has increased to the highest level since late 2018 and it is expected to reach 100 dollars per barrel; given the facts, the market is waiting for Iran to export over 200 million barrels of its crude oil as soon as the US sanctions are …

Saudi Arabia’s Energy Minister, Prince Abdul Aziz bin Salman said the OPEC+ alliance will play a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel, Bloomberg reported. “We also have a role in taming and containing inflation, by making sure that …

Oman’s Ministry of Energy and Minerals and the International Energy Agency (IEA) will organise a Ministerial Dialogue on September 9 to explore ways to leverage clean energy transitions to ensure broader economic resilience. The Ministerial Dialogue – which will be co-hosted by Oman’s Minister of Energy and Minerals Mohammed bin …

Strong government policies and financial support will see renewable energy account for nearly 40% of the world’s power mix by the end of this decade, according to research by GlobalData. In a new report, the data and analytics firm highlights how increasing investment in solar and wind plants, and new …

The International Renewable Energy Agency (IRENA) and the Ministry of Ecology and Environment of the People’s Republic of China (MEE) have today agreed to extend existing co-operation on energy transition. The joint work will center-stage the acceleration of renewable energy development as central climate solution, enabling China’s pledge to peak …

Giant oilfield services provider Schlumberger is the next company in line to commit to achieving net-zero greenhouse gas (GHG) emissions by 2050. Schlumberger said on Tuesday that it spent 18 months conducting extensive analysis and working with experts to produce a decarbonization plan. With minimal reliance on offsets, the plan …

Iran has started pumping oil at a giant new reservoir at the offshore Abuzar oilfield in the Gulf, Iran’s oil ministry news service Shana reported on Tuesday. The Iranian Offshore Oil Company (IOOC) announced it had achieved first oil from the Asmari reservoir of Abuzar oilfield, which is located southwest …

South Korea’s oceans ministry said Wednesday it plans to speed up efforts to cut the emissions of greenhouse gases from older ships in line with new environmental regulations from an international body. Last week the International Maritime Organization (IMO) announced its plans to adopt tougher environment rules on ships built …

Japan restarted the first nuclear reactor in more than three years, a long-awaited step forward for the nation’s utilities that are struggling to gain local support and fulfill onerous regulatory requirements. Kansai Electric Power Co. on Wednesday morning resumed operations of its Mihama No. 3 reactor, which has been offline …

Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned, said a delegate. Crude just hit …