energy and resource

World Bank: Energy prices to rise by nearly 25 per cent next year

Global energy prices are forecast to rise by nearly 25 per cent next year, the World Bank said Thursday.

Iran eyes bigger stake in European oil market with boosted production

Iran is planning to increase its oil production from the current 600 million to 1 billion cubic metres per day, the vice minister for petroleum said on Saturday.

Russian-Turkish pipeline installation in Black Sea to begin next year

Installation of the Turkish Stream natural gas pipeline in the Black Sea will begin next year, Russian Energy Minister Alexander Novak said Wednesday.

Russia suspends atomic research collaboration with US

Russian Prime Minister Dmitry Medvedev has signed a decree to suspend atomic research and development work with the United States, his website said Wednesday.

Niger Delta militants attack oil pipeline in southern Nigeria

Militant group Niger Delta Avengers Saturday said it attacked an important export pipeline in Nigeria’s oil-rich south.

Iran plans to export 2.4 million barrels of oil per day

Iran is planning to export 2.4 million barrels of oil per day by March, according to the Ministry of Petroleum.

Kuwait increases petrol prices as low oil prices bite

Kuwait started enforcing increases in domestic petrol prices on Thursday as low oil prices have put pressure on the crude-producing Gulf country's budget.

Cyprus and Egypt agree to build gas pipeline

Cyprus and Egypt are to build a natural gas pipeline between the two Mediterranean countries, Cypriot media reported on Wednesday.

Nigerian militants attacking oil installations open to negotiations

Nigerian militants attacking oil installations in the Niger Delta have called a ceasefire and expressed a willingness to negotiate with the government.

Australia blocks Chinese bidders from leasing major electricity grid

Australia has stopped the sale of a major electricity distributor to state-owned Chinese companies on national security grounds, a senior government official said Thursday.

Tesla to purchase SolarCity for 2.6 billion dollars

Electric car producer Tesla has reached an agreement to move forward on a controversial 2.6-billion-dollar takeover of the clean power firm SolarCity, the Palo Alto, California-based company...

Ex-minister: May had objected to Chinese investment in nuclear plant

British Prime Minister Theresa May had "raised objections" to Chinese investment in a controversial new nuclear power plant during the previous coalition government, former business secretary...

Iran calls for OPEC production quotas as cartel mulls output levels

The Organization of the Petroleum Exporting Countries (OPEC) should set production quotas for individual members, Iran demanded Thursday at a meeting of the cartel, highlighting divisions over the...

EU approves German plans to shut down eight coal-fired power plants

The European Union gave its blessing Friday to plans by Germany to subsidize the closing down of eight power plants fired by highly polluting lignite, also known as brown coal.

Italy referendum on offshore drilling fails due to low turnout

A referendum in Italy on limiting offshore drilling rights for oil and gas failed Sunday as the necessary 50-per-cent turnout threshold for its validation was not reached, preliminary results...