Energy

Russian state oil revenues fall 40 per cent on sanctions Tanker owners post record profits, traders and bankers say India, China get cheaper oil Western sanctions on Russia have significantly reduced ...

BP (BP.L) on Tuesday reported a record profit of $28 billion for 2022, lifted by the surge in energy prices since Russia’s invasion of Ukraine, while boosting its dividend in ...

Britain is likely to spend 69 billion pounds ($82.95 billion) on schemes to protect households and business from soaring electricity costs, half of the original estimate, a UK spending watchdog said, as ...

Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of US dollars, four sources with knowledge of the ...

France is leading a campaign for the European Union to recognise low-carbon hydrogen produced from nuclear power in its renewable energy rules, but some member states oppose the idea for ...

Oil prices eased on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset ...

The subsidy for the cost of electricity consumption from September 1, 2022 to January 31, 2023 amounted to €58.4 million, the finance ministry said on Thursday. In an announcement, the ministry said that it had ...

Oil prices fell on Tuesday as the prospect of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures fell by $1.01, ...

Turkey will hold a natural gas summit on Feb. 14-15 to bring together gas supplier countries and Europe’s consumer countries in Istanbul, Turkish Energy Minister Fatih Donmez said on ...

The inauguration of the VLPG consortium’s LPG terminal at Vasiliko is not only a boost to the island’s energy hub but was the final step in removing oil ...

Europe is striving to cut the costs of operating wind turbines on water. By Michael Allen Off the coast of Portugal, a team of underwater robots is scanning the base ...

By Maria Demertzis The global fight against climate change suffers from a problem that holds back international action in many areas: countries make promises and set goals, but then fail ...

Oil prices rose for a second session on Friday, buoyed by stronger than expected US economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese ...

As Europe strives to become the first climate-neutral continent by 2050, Turku and Dijon are among a group of cities seeking to reach this goal two decades earlier. By Gareth Willmer ...

We still lag terribly behind on the use of renewables and battery storage and there’s no firm date for the import of LNG at Vasiliko In a first, and ...

By Charles Ellinas With no end in sight for the Russia-Ukraine war, global energy markets will continue to be unstable, making 2023 another difficult year for global energy. On top of ...

Following Moscow’s invasion of Ukraine, world’s largest oilfield firm SLB (SLB.N) has boosted its business in Russia by cherry-picking service and equipment contracts from rivals who left, ...

Europeans have dialled down their heating this winter, apparently heeding government calls to conserve energy amid the Ukraine crisis, with some delaying switching it on by almost a month and ...

The West’s top energy firms are expected to rake in a combined record profit of $200 billion from a turbulent 2022 marked by huge volatility in oil and gas prices after ...

A meeting between the energy and finance ministers, and unions representing workers at the Electricity Authority (EAC) has been rescheduled for this coming Friday. The meeting had been set for ...

Europe is set to ban imports of Russian oil products on Feb. 5 in a move that is already causing massive shifts in global diesel trading. Buyers are rushing to fill ...

The Cyprus Economy and Competitiveness Council on Friday published a report outlining a number of recommendations that seek to provide both medium and long-term solutions to the ongoing issue of ...

Oil prices traded mostly flat on Thursday, giving up gains made earlier in the day, as optimism over China’s demand outlook was tempered by caution ahead of upcoming inflation ...

Oil prices were broadly steady on Wednesday as market participants were pulled in different directions by an unexpected build in US crude and fuel inventories, global economic uncertainty and China ...