Tag Archives: Oil Price

Turkey’s ambitions to become a regional gas hub just received a fresh boost after the country signed a 10-year agreement with French energy giant TotalEnergies (NYSE:TTE), Turkey’s Daily Sabah reported on Wednesday. Under the terms of the deal, the oil and gas supermajor will supply Turkish state energy firm BOTAS …

Rosneft is likely to fail in its legal challenge against a planned sale of a minority stake in a German refinery that it used to control before Germany took over the Russian oil giant’s assets in the country. Rosneft has a 54% stake in the Schwedt refinery, the fourth-largest refinery …

China saw in August the first increase in coal-fired power generation in four months as coal remains a vital part of the system despite soaring output from clean energy sources and a growing share of renewables in the electricity mix. China’s electricity output from thermal sources – which are predominantly …

It’s been just over a year since Turkmenistan, a country boasting the world’s fourth or fifth biggest largest natural gas reserves, ended decades of indecision and finally announced it was serious about exporting to Western markets. For just about any other country, such an announcement would have touched off a …

Itay will no longer grant concessions for oil and condensate exploration and production, a draft of a new government decree shows. The decree, seen by Reuters, specifies that the oil exploration and production ban will only apply to new concessions—not existing ones that have already secured government approval. The ban …

Power prices in France turned negative for hours on Tuesday morning amid tepid demand in a struggling economy and increased renewables generation. French intraday power prices traded at as low as -$22.25 (-20 euros) per megawatt-hour (MWh) on the Epex Spot exchange, according to data compiled by Bloomberg. So far …

Slumping refining margins amid tepid fuel demand in China have already claimed victims among the refineries in the Shandong province, where two plants operated by chemicals giant Sinochem were declared bankrupt in recent days. Zhenghe Group Co and Shandong Huaxing Petrochemical Group Co were declared bankrupt after creditors failed to …

U.S. power-generating companies are announcing plans for the highest volume of new natural gas-fired capacity in years as the AI boom is driving demand for electricity. During the first half of 2024, electricity-generating firms unveiled plans for the new gas-powered capacity equal to all capacity announced in 2020, according to …

A little under a year before the Russian invasion of February 2022, Saudi Aramco’s chief executive officer, Amin Nasser, had spent several days at the annual China Development Forum hosted in Beijing, during which time he stated: “Ensuring the continuing security of China’s energy needs remains our highest priority – …

This year, nuclear power has generated more electricity in South Korea than either coal or natural gas for the first time ever, achieving a milestone in one of the world’s top importers of fossil fuels. Nuclear power accounted for 32% of South Korea’s electricity generation mix in the first half …