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Since the mid-1990s, China’s extraordinary economic expansion almost singlehandedly drove a supercycle in key commodities prices it required to power such growth, including oil and gas. In 2013, it became the world’s largest net importer of total petroleum and other liquid fuels and, as late as 2017, its still high …

Azerbaijan will get a welcome earnings boost from BP’s announcement that it has launched production at a new $6-billion facility in Azerbaijan’s giant Azeri-Chirag-Gunashli oil field. The upgrade can boost the field’s output by as much as 25 percent. Dubbed Azeri-Central-East (ACE), the facility consists of a new production platform …

The OPEC+ group is still studying whether to raise oil production but it would act on supply if necessary, Russian Deputy Prime Minister Alexander Novak said on Tuesday. The possibility to raise supply is still being reviewed, Russia’s top oilman said, as carried by Russian news agency Interfax. “It always …

Following Russia’s announcement of drills involving the use of tactical nuclear weapons, German Chancellor Olaf Scholz warned Moscow on Monday against deploying atomic weapons in the Ukraine war. “It is always important to say loudly that nuclear weapons must not be used in this war,” Scholz said at a press …

China’s state-owned energy giant Sinopec is in talks with Pembina Pipeline Corporation over buying a stake in a planned Canadian LNG project and an offtake agreement for LNG from the facility on the Pacific coast, Reuters reported on Monday, quoting unnamed sources familiar with the development. Pembina is a partner …

BP is expected to reverse a previous commitment to reduce oil and gas production by the end of the decade amid a broader pivot in the industry to continue providing the hydrocarbons the world needs, some of the biggest shareholders in the UK-based supermajor told the Financial Times. BP’s peer …

Saudi Aramco has raised the official selling price of all the grades it exports to Asia, with flagship Arab Light for delivery in June set to become $0.90 more expensive, Bloomberg reported citing a pricing list it had seen. The move pushed international oil prices higher, Reuters reported earlier today, …

The Abu Dhabi sovereign wealth fund’s investment arm, Mubadala Capital, plans to make a substantial investment in biofuels in Brazil, the Financial Times has reported, quoting the head of Mubadala’s Brazilian operations. The $13.5-billion investment in biofuels is part of a broader investment plan for Brazil that may also include …

Several regions of the world are battling to achieve green hydrogen dominance by rapidly developing their hydrogen production capacity, transport infrastructure, and hydrogen corridors. While Asia and the Middle East are rapidly building their production capabilities, Europe is focusing on connectivity to ensure it can transport hydrogen across borders. Hydrogen …

China accounted for 65% of new wind capacity last year, which placed four Chinese original equipment manufacturers in the top five spots in the global ranking, a new report by Wood Mackenzie showed on Wednesday, highlighting the Chinese dominance in clean energy technologies. China’s Goldwind installed a record 16.3 gigawatts …