Oil Rises to Month High on Looming Iran Sanctions, Falling U.S. Stock

Oil prices jumped to the highest in several weeks in August, extending gains on growing concerns of a drop-off in Iranian crude exports and after a bigger-than-expected fall in U.S. crude stockpiles. Global benchmark Brent crude...

Energy Transition: Portugal Breaks 100% Renewables Mark

Last month, Portugal's renewable electricity output exceeded its monthly total grid demand, according to REN, the operator of the national transmission system. The average renewable energy for this month exceeded 103% of consumption, 55%...

BP Steps Further into EV Market by Funding NIO Capital

British Petroleum (BP PLC), one of global oil giants, announced that it will inject $10 million into an investment fund backed by Chinese electric-car maker NIO, in order to expand into China’s fast-growing new-energy vehicle and...

EU Set to Scrap Punitive Measures For Chinese Solar Panels

The European Union was preparing to scrap import controls on Chinese solar panels and cells in September when the current protective measures expire, Reuters reported on August 24. The European Commission, which is responsible for...

Indian Refiners Troubled By Venezuela’s Declining Oil Output

Venezuela’s oil exports to India, its third largest crude buyer, experienced a sharp decline in the first half of 2018, according to data from state oil company PDVSA, raising supply concerns for Indian refiners...

Global Gas Demand to Grow 1.6% Annually By 2023: IEA

Global demand for natural gas is expected to grow at an average of 1.6 percent annually within the next five years, with rising Asian markets as the main engine for demand, the International Energy...

Mexico Seeks to End Foreign Crude Imports by 2021

Mexico’s newly elected president Andres Manuel Lopez Obrador said he will make great efforts to stop importing enormous volume of fuels from foreign countries especially the United States, Mexico’s biggest oil source, during the first...

Electric Vehicles Will Triple by 2020

Recently, sales of electric vehicles have increased significantly, surpassing 1 million in 2017 after growing 56% from 2016. The number of electric vehicles (EVs) worldwide could triple to 13 million over the next two...

China is Becoming the Top Natural Gas Importer in the World

After Deng Xiaoping's "Reform and Opening up Policy" in December 1978, China's unprecedented economic development caused serious environmental problems. The pollution of industrialized and populated coastal areas has reached a very high level, threatening...

Turkey Won’t Stop Gas Imports from Iran Despite U.S. Sanctions

Turkey will not stop purchasing natural gas from Iran as it has a long-term supply deal with Tehran, the Turkish energy minister said on Aug. 8, a day after U.S. President Donald Trump threatened...

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EU and Japan Sign Free Trade Agreement

The European Union(EU) and Japan signed an agreement on tariff reduction on Tuesday. According to the deal, 99 percent of the tariffs on Japanese...