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Russian oil producers are confronting their greatest challenge in decades as they try to fend off a historic price slump without permanently damaging their fields. To save the market from collapse caused by the coronavirus, Moscow and its OPEC allies agreed to cut crude output deeper than ever before. Their …

Italian energy major ENI published on May 13 the company’s sustainability report that describes its commitments in its Long-Term Strategic Plan to 2050, which combines financial, environmental and social sustainability. “The historical moment we are going through poses complex challenges on our path, but we are certain that these difficulties …

The US Department of Energy’s Oak Ridge National Laboratory (ORNL) has refined its design for a very small, 3D-printed nuclear reactor, as well as the manufacturing process needed to create it. Last year, ORNL set out to use advances in 3D printing, materials, nuclear science, nuclear engineering and computing to …

Saudi Arabia stood by its pledge to curtail oil output under the OPEC+ deal, reducing shipments to the prized Asian market. Saudi Aramco cut contractual volumes for June loading to at least seven Asian customers, according to traders notified by the state-owned company. Three other regional buyers received what they …

The rebalancing of the oil market is underway and will accelerate, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, May 13, days after some of its members voluntarily increased their production cuts. The world oil market was thrown into disarray earlier this year as lockdown measures imposed …

It will take more than a year, and perhaps several, for oil demand to recover to what it was before the coronavirus shuttered economies and caused energy markets to collapse, according to the head of the International Energy Agency. Crude demand of about 100 million barrels a day prior to …

The Joint Ministerial Monitoring Committee (JMMC) meeting will be held on June 8, 2020, most probably in a video format, while ministerial meetings of OPEC and non-OPEC states will be held on June 9 and 10 as planned, sources in delegations told TASS. “The JMMC meeting will be held on …

The OPEC+ agreement and the additional oil output cuts announced this week will push GCC budgets even deeper into deficit, according to Fitch Ratings. Saudi Arabia said on Monday it would add to existing cuts by reducing output by another 1 million bpd next month — equivalent to 1 per …

Asian spot prices for liquefied natural gas (LNG) have jumped by at least 20% in a week as supply of the super-chilled fuel tightens amid fewer cargoes arriving from the United States and as demand rebounds in the region, several traders said. Several cargoes have changed hands at $2.40 to …

For the first time since 1982, India’s CO2 emissions have fallen. According to the BBC, the lockdown from the coronavirus pandemic was the tipping point of something already happening. In an analysis by Carbon Brief, a study found that India’s carbon dioxide emissions had fallen 15% in March and were …