Global primary energy demand is set to rise from 308 million barrels of oil equivalent (mboe/d) in 2024 to 378 mboe/d in 2050.

Japanese oil refiner Taiyo Oil Co. is transporting Russian crude oil to Japan for the first time in two years—on the tanker Voyager, which is blacklisted by the EU and the US Treasury Department.

Novak cited Nigeria as a promising partner for Russia in Africa, saying, “Our joint work within OPEC+ renders a decisive contribution to ensuring stability and predictability of the global oil market.

After meeting the president in the resort to finalize the deal, European Commission President Ursula von der Leyen confirmed the EU and the US will increase their "energy cooperation."

The Senate may vote Monday on its own version of a spending package that would phase out key subsidies for wind and solar sooner than expected, and also adds a new tax.

The BRICS energy alliance has launched a coordinated system of Petro-Yuan (Chinese RMB Yuan currency) oil contracts that directly challenges US dollar dominance in global energy markets.

Hungary and Slovakia decided to block the sanctions package in response to European Union plans to phase out Russian energy imports, the minister said.

The investment plan aligns with Renaissance Africa’s strategy to rebalance its portfolio by strengthening oil production and accelerating gas monetization while reinforcing its position in export markets.

Since 2019 China’s energy system seems to be undergoing significant shifts.

"Despite the significant progress achieved under the REPowerEU Plan and via sanctions since Russia's invasion of Ukraine, in 2024 the EU saw a rebound in Russian gas imports," the EC said. "More coordinated actions are therefore needed, as the EU's overdependency on Russian energy imports is a security threat."

The Indonesian Ministry of Energy and Mineral Resources has awarded five oil blocks and gas blocks offshore Indonesia.

The two sides discussed cooperation within the OPEC+ framework and the energy sector, including electricity, hydropower and renewables. Three coal-fired thermal power plants will be built in Kazakhstan in the cities of Kokshetau, Semey and Ust-Kamenogorsk, and two power units at Ekibastuz TPP-2 will be renovated with the involvement of Russian specialists.

On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.

Joint Indian-Russian operators are already managing the countries second airport at Hambantota, which is being repositioned as a tourist arrivals hub from East Asia. Sri Lanka is a member of the SAARC trade bloc, and has also applied to join the BRICS.

Its target scenario sees output of 540 million tons at the end of this decade and also by midcentury, a document published Monday showed. That’s equivalent to about 10.84 million barrels a day and is only marginally above volumes in 2023, the baseline for the paper. Shipments abroad are also expected to hold steady.