UK Wants China Out Of Nuclear Power Project

The global energy transition is fueling a spike in specialty steel demand. India is looking to capitalize on this emerging market while reducing its dependence on materials from Japan and South Korea. New steel technologies require significant R&D, but a few countries, including India, are already ahead in the race.

British companies have spent years increasing imports from China, especially key minerals and commodities. The hope that the investment in these relationships would bring China more in line with Western values has begun to fade. There is now a growing call for British energy and mining companies to reduce their...

The prolonged political instability in Bulgaria will continue to impact critical energy security decisions and maintain the country’s status as Russia’s best client in Europe. Bulgaria, currently the third-largest buyer of Russian oil in the world, is heading for another round of general elections on April 2, since the parliament failed to form a regular cabinet following the October 2022 elections (Dnevnik.bg, February 2). This will be the fifth parliamentary poll in the past two years.

Russia had diverted most of its fuel oil and vacuum gasoil (VGO) exports to Asia and the Middle East even before the EU embargo on Russian petroleum products came into effect on February 5, according to data from traders and Refinitiv cited by Reuters. Last month, the European Union took...

The Ceyhan oil terminal in southern Turkey has halted operations after the devastating earthquake in Turkey and Syria early on Monday, Tribeca Shipping Agency said, as carried by Reuters. A powerful earthquake of 7.8 magnitude on the Richter scale hit Turkey and Syria in the early hours of Monday local...

On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to expectations of a rebound in Chinese demand. Saudi oil giant Aramco lifted the price of its flagship Arab Light grade...

The EU is lagging behind on artificial intelligence, electric vehicles, and other key technologies. Microsft alone is on track to spend as much as three times what Germany as a country will spend on the development of artificial intelligence. The EU’s regulatory approach to tech is largely responsible for its...

U.S. supermajor Chevron has increased efforts to reach an energy exploration agreement with Algeria and is assessing the North African country’s estimated huge shale gas resources, The Wall Street Journal reported on Monday, quoting sources with knowledge of the plans. Other energy majors, including Eni and TotalEnergies, see Algeria...

Recent developments concerning North Korea pose both traditional and non-traditional security challenges to China. Beijing has both the motivation and the ability to take a leading role in inspiring a change of course by North Korea. China should play a more positive role in the North Korean denuclearization process by...

The price of Russia’s flagship Urals oil blend is no longer set by Europe but by Asia, which has become the largest market for the commodity, Rosneft’s chief executive Igor Sechin said at the India Energy Week. "If Russian oil does not enter the European market, then there...

The current Brent oil price is just about the level at which Saudi Arabia breaks even from a fiscal perspective and it is way lower than Russia’s fiscal breakeven oil price. It is certain that Russia would have been pressing for a bigger OPEC+ production cut behind the scenes.

As of Sunday, no Russian oil products can be imported into the European Union, per the latest sanction hit of Brussels against Moscow. The embargo has been combined with a price cap, agreed upon with the G7 in the same way that the EU and the G7 coordinated the price cap on Russian crude last year.

Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double. While the Indian prime minister did not offer a specific time frame for this major...

Oil production at Norway’s huge Johan Sverdrup 1 oilfield was halted on Monday due to a technical fault and reduced power supply, the operator of the field, Norwegian energy major Equinor, said. Production at the field, which can pump up to 535,000 barrels per day (bpd), was stopped after...

Hong Kong is still hoping to convince Aramco to make its secondary listing on the city-state’s stock exchange, the chief executive of the city has said. Several years ago, when the Saudi government first announced it would partially privatize its state oil major, Hong Kong was among the candidates for the secondary listing of the company along with London and New York.

The OPEC+ group deserves to be given credit for the way it has handled oil market stability in recent months, OPEC Secretary General Haitham told Reuters on Monday. “Due recognition should be given for our constructive and positive role in supporting global market stability including to remind ourselves that the G20 and major consumers around the world commended us for our historical actions taken since 2020,” Al Ghais told Reuters on the sidelines of the ongoing India Energy Week conference.

A City University of Hong Kong research team has successfully mediated poor charge carrier transport at low voltage by adding phosphorus to a metal oxide catalyst. Metal oxides are a promising catalyst for photoelectrochemical (PEC) water splitting to produce hydrogen as an alternative fuel. However, their effectiveness is restricted at low voltage. Adding phosphorus reduced energy losses during water splitting.

Official figures from the Russian Finance Ministry on Monday show a 35% decline in fiscal budget revenues in January, compared to the same period last year, reporting a ~$24-billion budget deficit for January. The budget deficit reflects oil and gas revenue that has declined 46% year-on-year, according to The Associated...

The U.S. and EU have issued warnings to Georgia as it considers re-establishing direct flights with Russia. Georgia’s government has tried to maintain a delicate balancing act in the wake of the Ukraine war. The U.S. State Department noted, “The entire Western community has distanced itself from this brutal...

Copper prices reacted to short-term resistance and rallied at the beginning of the year. That said, copper prices need to break lows and form a lower high to change the overall trend. Currently, the trend is up, and prices are expected to continue rising. Technical support levels should act as a price floor, giving buyers opportunities at price dips.