The Bank of England on Thursday raised its main interest rate by a quarter point to one percent to tackle runaway UK inflation that is causing a cost-of-living crisis. It was the fourth straight rate rise by the BoE, which added that British annual inflation would top 10 percent this...

Salaries in Britain's financial sector have surged in recent months, widening inequality amid the nation's cost-of-living crisis, a study showed Wednesday. Average monthly pay in the industry jumped 31 percent in February from December 2019, propelled by high-earners, the Institute for Fiscal studies (IFS) said in a report. The performance,...

There will be a total of three projects on which Egypt and the Italian company Eni will work together.

European officials were preparing a new package of sanctions Tuesday to punish Russia for its invasion of Ukraine, but some members are jockeying to opt out of an oil embargo. Several EU officials and European diplomats in Brussels told AFP that they expected the European Commission to hand over the...

A former Saudi intelligence head has insisted that the kingdom should not be held responsible for the rising energy costs in the US. Prince Turki Al-Faisal said that it was the White House's policy agenda that was behind the increase in prices.

China will slash coal import tariffs to ensure energy security, the finance ministry said Thursday, the latest move to cast doubt on the country's environmental promises. The Chinese leadership has pledged the country will curb coal consumption after 2025.

French energy firm TotalEnergies said Wednesday it had taken a $4.1 billion impairment charge on its Arctic LNG 2 gas project under construction in northern Russia. On the eve of reporting its first-quarter results, the firm said additional sanctions adopted by European authorities, "notably prohibiting export from European Union countries...

The number of coal-fired power plants in the pipeline worldwide declined in 2021, according to research released Tuesday, but the fossil fuel most responsible for global warming still generated record CO2 emissions, threatening Paris climate goals. Since the 195-nation treaty was inked in 2015, coal power capacity under construction or...

Tibetan spiritual leader the Dalai Lama urged the public to reduce fossil fuel use during a meeting with activists to mark Earth Day, warning that the climate change crisis transcends national boundaries. "In my own life I have witnessed the decline in snowfall, first in Tibet and later, in Dharamshala,"...

Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP. The region relies on Russia for the vast majority of its energy needs, especially natural gas, and IMF economists looked at the economic cost of...

The Equatorial Guinea-flagged Xelo was thought to have been carrying 750 tons of diesel when it went down en route between Egypt and Malta on Saturday.

The EV Community Hub website covers the latest government strategies, targets, incentives, and relevant regulations for EVs

The company has chosen MAN Energy Solutions to provide 25 sets of biofuel generators for the sustainable tourism destination.

Oil began inching upward on Thursday after a day of losses over demand concerns linked to the Covid-19 lockdown in China. Ongoing restrictions in the country, including in the economic hub of Shanghai where tens of millions are confined to their homes, have hit transport networks but traders are balancing...

These solar projects in Morocco were part of a large international tender.

Meanwhile, Italy is also looking into buying or renting two floating storage and regasification units (FSRU) to allow it to import more LNG. Diversification will not be cheap, warn experts, who foresee extra taxes passed on to businesses and families.

Cultivating alternative energy sources is an urgent priority in India, which burns coal to meet nearly three-quarters of the energy needs of its 1.4 billion citizens.

Asian markets were flat on Wednesday as oil began clawing its way back up from a big drop after the International Monetary Fund downgraded its global growth forecast for 2022. The IMF lowered its outlook to 3.6 percent -- a .08 percent slash from its previous estimate released in January...

The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military operation in Ukraine and the consequent Western sanctions.

Moroccan lawmakers on Monday called for a cap on oil firms' profit margins, describing them as "exorbitant" amid soaring fuel prices in the wake of the Ukraine war. During a plenary session with Prime Minister Aziz Akhannouch -- himself the owner of the main fuel distributor in the kingdom --...

Nakilat noted that earnings per share amounted to QR 0.07 in Q1 2022.

Al-Kadhimi asked the workgroup to visit Iran and remove the obstacles hindering the supply of gas to Iraqi electricity power plants.

Dr. Eng. Hassan Al Zarooni, Director of the Electricity Distribution Department, said the projects support its efforts to achieve sustainability through energy conservation.

Divers who inspected the hull of a tanker loaded with 750 tonnes of fuel that sank off southeast Tunisia have detected no leaks, officials said. The Equatorial Guinea-flagged Xelo, which sank yesterday in the Gulf of Gabes, has settled on its side at a depth of almost 20 metres, the...

NEPCO Director Amjad Rawashdeh has called the linkages a model for Arab countries.

The tanker XELO, carrying 750 tons of diesel from Egypt to Malta, sank in the Gulf of Gabes off Tunisia’s southeast coast.

Masdar, one of the world’s leading renewable energy companies, has signed an agreement with Kyrgyzstan to explore the development of renewable energy opportunities in the Central Asian nation and support Kyrgyzstan’s clean-energy objectives. Bekmurzaev Doskul Djumagulovich, Minister of Energy of the Kyrgyz Republic and Abdulla Zayed, Head of Development and...

France and Algeria have been attempting to improve their ties after a diplomatic crisis.

"A maritime gasoil smuggling network resulting from the looting of Libyan state oil refineries was allegedly carried out between 2014 and 2015 in the context of the Libyan conflict," Swiss state prosecutors said.

Jose Mauro Coelho was appointed to the post for a one-year term.

In an effort to ease Americans' pain at the gas pump, President Joe Biden has announced his administration will ease restrictions on the sale of E15 -- gasoline that includes 15 percent ethanol -- and new investments in biofuels as a whole. But the decision hasn't pleased scientists who study...

Current President Guillermo Lasso has plans to double Ecuador's oil production in spite of opposition from indigenous communities and environmentalists.

The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said, warning of potential social unrest. In its latest update the development lender said inflationary pressures set off by Covid-19 "are likely to be exacerbated"...

Saudi Arabia and Kuwait will develop a disputed gas field despite Iranian objections, while urging Tehran to engage in negotiations, a statement said Wednesday. The Gulf allies will honour their deal, branded "illegal" by Iran, to develop the Arash/Dorra maritime gas field, the Saudi foreign ministry said.

Jordan and Turkey will jointly mine copper in Abu Khashaba Canyon and Ghor Fifa in Southern Jordan. Jordan’s Ministry of Energy and Mineral Resources and Turkey's "Solvest Trade and Industry Limited Company" on Wednesday signed a memorandum of understanding (MoU) regarding the same. The deal was signed by Energy Minister...

In Denmark, large black pipes are about to be buried in a muddy trench, as construction of a gas pipeline from Norway to Poland resumes following Russia's invasion of Ukraine. From plans for liquefied natural gas terminals in northern Germany, Finland and France to potential new routes through Spain and...

Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions placed on Moscow.

The Saudi Arabian Oil Company has outlined a clear strategy to continue to invest in both upstream and downstream segments, says Rehan Akbar, Senior Vice-President at Moody’s.

The PCK refinery in Germany has been processing crude oil from Russia since before reunification, but a looming ban on Russian oil has put its future in doubt.

Syria has over the past few months repeatedly accused the US of using its forces to steal oil from its territories. Operation Inherent Resolve, the US military's operational name for the international military intervention against the Islamic State group, has refuted those claims.

Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when it comes to power generation.

Yemen's Huthi rebels already agreed a "framework for cooperation" with the United Nations on the issue last month.

The pullback came as US Federal Reserve meeting minutes showed several officials at the central bank favoring a hike in interest rates by half a percentage point.

Nations and their companies have axed business ties with Russia over Ukraine.

The IEA members which include the United States, European countries, Australia and Japan, among others had already pledged last month to release 62.7 million barrels of oil.

More than 11 million people in Ukraine have been displaced since Russia invaded on February 24, aiming to seize the capital Kyiv. With that goal thwarted, it is instead trying to create a land link between occupied Crimea and Moscow-backed separatist statelets in Donbas.

Boris Johnson's government will consult with local communities to host onshore wind farms in return for "guaranteed lower energy bills," after the UN warned that investing in fossil fuels would be equated with 'moral and economic madness'.

It comes less than a month after Iran's Revolutionary Guards claimed an assault on Arbil that it said targeted an Israeli ‘strategic center’.

Announced in July 2021, the national program aims to boost efficiency by 40 percent across the three most energy-consuming sectors in the UAE

The EU is considering to hit Russia with sanctions on oil or coal over the war in Ukraine, a top official said on Tuesday, though some countries remain worried of the potential economic fallout.