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A member of Iranian Parliament National Security and Foreign Policy Commission said that Iran’s trade volume exchange with the East especially China must increase, for, western countries showed that they are not trustworthy. Speaking in an interview with Mehr news agency on Wed., Ebrahim Azizi said that senior officials of …

Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States decreased against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere. Brent crude LCOc1 was up by 24 cents, or 0.6%, at $43.46 a barrel …

According to a new report by Wood Mackenzie, oil products demand in Asia Pacific is expected to fall by 1.8 million barrels per day (b/d) year-on-year in 2020. But oil demand growth in Asia has still a long way to run. By 2040, the region’s oil demand is expected to …

Germany continues viewing the Nord Stream 2 gas pipeline as an economic project and Berlin does not support unilateral economic sanctions of the United States against it, German Government’s spokesperson Ulrike Demmer said at the briefing on Monday. “The government’s position on the Nord Stream 2 has not changed,” Demmer …

Green hydrogen could as soon as 2023 be competitive with grey H2 made using fossil fuels thanks to US wind power that’s as cheap as $5/MWh, said finance giant Morgan Stanley. Steep falls in clean generation costs mean at $1.53/kg, hydrogen produced via electrolysis sited at “best in class” US …

Oil prices rose for a third straight day on Tuesday, buoyed by support for demand coming from efforts to stimulate the U.S. economy’s recovery from the coronavirus crisis and a weakening of the dollar that makes crude cheaper for global buyers. Brent crude futures climbed 35 cents, or 0.8%, to …

Scientists from ExxonMobil, University of California, Berkeley and Lawrence Berkeley National Laboratory have discovered a new material that could capture more than 90 percent of CO2 emitted from industrial sources, such as natural gas-fired power plants, using low-temperature steam, requiring less energy for the overall carbon capture process. Laboratory tests …

According to Azernews, ver $106 billion were invested in Azerbaijan’s oil sector in the period between 1995 and 2019, Energy Minister Parviz Shahbazov has said. During the period, out of $140 billion of foreign investments in Azerbaijan, $85 billion were attracted to the oil sector, Shahbazov said addressing the seminar …

Russia exported 396,000 tonnes of liquefied natural gas (LNG) to China in June, while US exports amounted to 340,000 tonnes during the same period, Bloomberg reported on Monday, citing data from China’s General Administration of Customs. According to the customs data released on Sunday, Russia’s LNG exports to China increased …

The Trans-Adriatic Pipeline (TAP), which is the final segment of the Southern Gas Corridor, envisaging the transportation of Azerbaijani gas to Europe, is under completion, Azerbaijani Energy Minister Parviz Shahbazov said, Trend reported. Shahbazov made the remark in Baku within the 14th Baku Summer Energy School at ADA University dedicated …