Tag Archives: Reuters International News Agency

The Australian government on Monday set aside a $300 million ($191 million) to jumpstart hydrogen projects with the help of low-cost financing as the country aims to build the industry by 2030, the country’s energy minister said on Monday. The hydrogen push marks one of the few areas where the …

Oil prices rose on Friday, extending the previous session’s gains, as major producers began output cuts to offset a slump in fuel demand triggered by the coronavirus pandemic while data showed U.S. crude inventories grew less than expected. Still, prices gave up some of their earlier gains as the month …

One of the world’s fastest-growing commodity markets is under great pressure — but it’s healthy. LNG prices are depressed amid destruction in demand, in large part due to the Covid-19 pandemic stalling the global economy. The first big economic punch to the LNG gut started with swathes of virus cases …

While everyone is understandably watching the meltdown in the crude oil market, the global market for natural gas is also cratering. At least 20 cargoes of U.S. liquefied natural gas (LNG) have been cancelled by buyers in Asia and Europe, according to Reuters. The global pandemic and the unfolding economic …

South Korea, the country with the fourth-largest commercial storage capacity in Asia, has just run out of room to store more oil, sources familiar with the matter told Bloomberg on Monday, as available storage capacity everywhere in the world in shrinking fast amid the demand collapse. South Korea’s total commercial …

Following the 2018 unilateral withdrawal of the US from the 2015 Iran nuclear deal and the reimposition of sanctions against Iran, Washington has been issuing special waivers that permit some countries and companies to conduct business with Tehran. The US Department of State has extended a waiver for Iraq to …

International Energy Agency Executive Director Fatih Birol said on Friday that governments should put renewable energy at the heart of economic rescue packages launched in response to the coronavirus outbreak to avoid a rebound in carbon emissions. “Putting clean energy at the heart of stimulus plans is an excellent strategy …

The largest oil producer in North Dakota has halted most of its production in the US state and notified some customers it would not supply crude after prices dived into negative territory this week, sources said. Continental Resources Inc, the company controlled by billionaire Harold Hamm, stopped all drilling and …

The Kremlin said on Wednesday that it was too early to draw any conclusions about possible additional steps to stem the slump in oil prices before the global deal agreed by the OPEC+ group takes effect on May 1. Oil prices slumped to less than $16 a barrel on Wednesday, …

Oil producer countries should respect crude production cuts aimed at stabilizing the oil market, Iranian Oil Minister Bijan Zanganeh told state TV on Wednesday. “The market will stabilize gradually if the oil production cut is respected by all the producer countries … Cooperation is necessary under this circumstances,” Zanganeh said. …