Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by a rise in US crude inventories, were offset by a drop in gasoline stocks that lifted hopes for fuel demand recovery amid the re-opening of the global economy.
Brent crude was up 12 cents, or 0.3%, at $42.75...
A consortium of six global investors has entered into a $20.7 billion agreement with Abu Dhabi National Oil Company (ADNOC), the state-owned oil company said Tuesday.
As part of the agreement, the group will invest $10.1 billion to acquire a 49% stake in a newly-formed subsidiary, ADNOC Gas...
As the OPEC+ alliance sticks to its guns in trying to curb oil output to shore up prices, Asian buyers are increasingly looking to the US for a cheaper source of supply.
Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from...
Oil prices slid on Monday as concern grew that a record rise in coronavirus infections worldwide could stall a recovery in fuel demand, outweighing tighter supplies from major producers.
Brent crude fell 10 cents, or 0.2%, to $42.04 a barrel, while US crude was at $39.72 a barrel, down 11 cents...
Oil exploration shrank for a 14th straight week in the US fields amid weak crude prices and skepticism about a recovery in energy demand.
Drillers idled 10 oil rigs in onshore US fields this week, bringing the total to 189, according to data released by Baker Hughes Co. Despite this week’s rise...
Growth in energy demand was declining even before the coronavirus pandemic spread globally, keeping consumers under lockdown and sending prices to record lows, BP said.
The oil major’s annual Statistical Review of World Energy showed that growth in primary energy consumption slowed to 1.3% in...
Nearly all of the coal produced in the United States goes for electricity generation, but its share has eroded in recent years by growing natural gas-powered generation and rising share of renewable energy generation.
According to the US Energy Information Administration, coal is one of the main...
An inflatable rubber dam has been built in Kermanshah Province, Deputy Energy Minister Qassem Taqizadeh Khamesi said.
“Built on Sirvan River, the dam has a capacity to hold 280,000 cubic meters of water,” ISNA quoted him as saying.
Inflatable rubber dams are cylindrical rubber fabrics placed...
To assist power supply during the hot summer, production of distributed generation (DG) power plants has increased 21% compared to last year.
Electricity production generated with the help of DG systems has risen by 167 MW over the last 12 months and reached 800 megawatts.
DG or on-site...
Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
Brent crude futures rose 61 cents, or 1.5%, to $42.12 a barrel, the highest...