Tag Archives: Oil Price

India’s renewable energy boom is leading to soaring transmission costs as the country’s transmission network is being built on estimates of potential renewable power generation not on actual capacity or demand, according to a top electricity market executive. This approach to transmission leads to surging transmission charges that state power …

Hungary will buy U.S. nuclear fuel for the first time to use at a Russia-built nuclear power plant in the country, Hungarian Foreign Minister Peter Szijjarto said ahead of a meeting of the U.S. and Hungarian leaders. Szijjarto is part of a large Hungarian delegation led by Prime Minister Viktor …

Not long ago, the UK’s Prime Minister declared his government would turn the country into an “AI superpower”. The EU leadership has similar plans for the bloc—while China and the U.S. race ahead without looking back. Neither the UK nor the EU will catch up soon. Their energy is too …

Saudi Arabia’s Vision 2030 national development strategy establishes the aim of economic diversification, as the government seeks to reduce its reliance on fossil fuel revenues by expanding other economic sectors. In addition to drawing revenue from growing industries, such as construction, ICT, and tourism, the government is encouraging greater energy …

Iraq Prime Minister Mohammed Shia Al Sudani has directed his ministry to halt imports of middle distillates such as gasoline, diesel and kerosene, claiming his country has achieved self-sufficiency through increased oil production coupled with ongoing additions of refining capacity. Iraq has ramped up oil production and exports, partly through …

Canada’s Liberal government on Tuesday proposed a C$2 billion ($1.4 billion) sovereign fund for critical minerals, alongside hundreds of millions in new mining industry spending and an expansion of exploration tax credits, according to the federal budget released on April 1. The initiative aims to bolster domestic supply chains, attract …

Japanese power company J-Power has announced plans to close two units at a thermal coal power plant by the end of fiscal 2028 as part of its commitment to reduce emissions and achieve carbon neutrality by 2050. J-Power will retire Units 1 and 2 at the Takasago Thermal Power Station …

Saudi Aramco booked a net profit of $28 billion for the third quarter of the year, thanks to its oil production boost as OPEC+ unwound its voluntary output cuts. The company also reported free cash flow of $23.6 billion and cash flow from operating activities of $36.1 billion. Base dividend …

Italy’s energy giant Eni and Malaysian state oil and gas firm Petronas are combining their upstream assets in Indonesia and Malaysia in a new, equally-owned joint venture, the Italian company said on Monday. The newly-created joint venture, which will operate as a separate self-sufficient financial entity, plans to invest $15 …

Sanctioned LNG vessels carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project are running into early winter ice on the Northern Sea Route and deliveries to China from the Russian export plant could drop off as temperatures in the Arctic plummet. The Buran vessel, which offloaded a cargo …