Tag Archives: Oil Price

China and India are buying more crude oil, providing some respite for producers facing expectations of oversupply, Bloomberg reported today, citing unnamed trading sources. The two large importers have been buying mostly Middle Eastern cargos, the Bloomberg sources said, noting that these were being sold at a discount, with China …

Coal mines are finding a second life as companies invest in repurposing huge, disused coal sites into geothermal power projects. In the U.K., the government and energy companies have been discussing the idea for several years, and it seems to be gaining momentum with the launch of the first geothermal …

Germany’s ruling coalition has slashed in half the capacity of new natural gas-fired power plants it aims to tender by 2032 in a significant scale-down from the previously planned 20 GW of new gas capacity. The governing coalition led by conservative Chancellor Friedrich Merz has reached a compromise on the …

India’s state-run refiners have locked in their first-ever long-term deal to import U.S. liquefied petroleum gas (LPG), awarding tenders to Chevron, Phillips 66, and TotalEnergies Trading for delivery beginning in 2026—a move that marks a geopolitical and commercial break from the Middle East and a step toward appeasing Washington. The …

Power generation in China jumped by the most in October in nearly two years and overall electricity output was at its highest for any October since at least 1998, as a heat wave hit southern China while temperatures were colder-than-usual in the north. China’s power generation surged by 7.9% in …

Faced with difficult trade negotiations with the United States and American tariffs on their products, Canada and India pledged to encourage long-term supply chain partnerships in critical minerals and clean energy. At a trade summit in India, Canada and the host country agreed to revive their stalled bilateral relations and …

Uncertain demand signals and high costs are holding back India’s green hydrogen goals and plans, the Institute for Energy Economics and Financial Analysis (IEEFA) said in a briefing note on Friday, days after a senior Indian official warned the country would miss its 2030 green hydrogen production target. Most projects …

Libyan company Zallaf Oil and Gas has shipped the first export cargo from the Chadar oil field, at 600,000 barrels. Production at the field started in January this year from five wells, Reuters reported, citing the company, which is a subsidiary of the National Oil Corporation. When production started, it …

The surplus on the oil market next year will be even higher than previously expected, the International Energy Agency (IEA) said on Thursday, as it raised both its demand and supply growth estimates. “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil …

China will aim to use more renewable energy such as green hydrogen and green ammonia to avoid curtailments of solar and wind power whose soaring capacity sometimes boosts clean power generation beyond the limits of the grids. China will promote and support the use of renewable energy beyond the electricity …