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On March 13, President Trump proposed using the Department of Energy to buy oil for the Strategic Petroleum Reserve (SPR) in a bid to soak up some surplus oil from the market. Oil prices received a jolt on the news just before the close of trading on Friday. However, the …

Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …

Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …

After a dizzying drop in demand and an about-face in Saudi Arabian production policy, global oil markets face the possibility of the biggest crude surplus ever recorded, according to IHS Markit.Should the price war between the kingdom and Russia persist and the world tip into recession due to the coronavirus, …

The United Arab Emirates (UAE) is building the world’s largest concentrated solar power plant, capable of generating 700 megawatts. During daylight, solar power will provide cheap electricity, and at night the UAE will use stored solar heat to generate electricity. But at the same time, four nuclear reactors are nearing …

Although the oil price war was triggered by the Russia-Saudi fall-out, US shale will be the first casualty, writes Robin Mills. In the process, the US will learn that producing a lot of oil at high prices is not the “energy dominance” it has made a centerpiece of foreign policy, …

Those with a functioning memory may have thought that last week’s decision by Saudi Arabia to maximize oil production to crash oil prices and bankrupt U.S. shale producers was an early April Fool’s Day joke. Apparently, though, it is not, and collective amnesia seems to have gripped senior Saudis and …

Turkey’s third drillship arrived in Tasucu, Mersin, a coastal city in the Mediterranean region of the country on Sunday, the country’s energy minister said. Fatih Donmez said that the Turkish Petroleum Corporation took the ship into its inventory on Jan. 31 and it set off from the U.K. “We named …

The Coronavirus economic stimulus packages being drawn up by governments around the world should build-in “large scale” spending on clean energy technologies including wind, solar, green hydrogen and carbon capture and storage (CCS), says Fatih Birol, executive director of the International Energy Agency (IEA). Investment in renewables, said Birol, in …

Global oil spare production capacity could fall in April as Saudi Arabia and the UAE bring more supply to the market following the collapse of output restriction pact. “Global spare capacity will drop by 2-3 million bpd as most of the players with spare capacity will start ramping up their …