Oil prices have recorded the biggest weekly decline in three months thanks in large part to challenging economic indicators and growing demand concerns. Last week, U.S. crude inventories posted an unexpected rise, with the American Petroleum Institute (API) reporting a build of 4.91 million barrels, a sharp contrast from the anticipated decrease of...

The United States says Russia is violating UN-imposed limits on total shipments of fuels to North Korea, signaling it is preparing more sanctions against entities involved in facilitating Pyongyang's access to petroleum products above the UN-mandated levels.    The UN Security Council has imposed a limit of 500,000 barrels of annual supply of all refined...

Exxon Mobil Corporation has finalized its acquisition of Pioneer Natural Resources, marking a monumental milestone in the energy sector. With a price tag of $60 billion, this deal stands as one of the largest oil-and-gas acquisitions in recent memory, reshaping the landscape of the industry. The completion of this megadeal significantly bolsters Exxon's...

Some materials are transparent to light of a certain frequency. When such light is shone on them, electrical currents can still be generated, contrary to previous assumptions. Scientists from Leipzig University and Nanyang Technological University in Singapore have managed to prove this. The scientists have published their findings in the journal Physical...

Several regions of the world are battling to achieve green hydrogen dominance by rapidly developing their hydrogen production capacity, transport infrastructure, and hydrogen corridors. While Asia and the Middle East are rapidly building their production capabilities, Europe is focusing on connectivity to ensure it can transport hydrogen across borders....

Last year marked a record for U.S. oil production with an average daily production of 12.93 million barrels per day (BPD). That record was 5% greater than the previous record of 12.31 million bpd set in 2019. However, current data from the Energy Information Administration (EIA) shows that average daily production thus far in 2024 is 13.12 million bpd...