IOC buys Russian Urals crude from Vitol

Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase of the grade since Russia invaded Ukraine on Feb. 24. Western sanctions against Russia have led many companies and countries to shun its oil, depressing Russian crude to record

How trump’s oil policies driven profits for Putin and fossil-fuel promoters

It was a double-whammy for two of then-President Donald Trump’s biggest patrons, Vladimir Putin and American fossil-fuel billionaires and their industry: the price of oil was too low. Between the pandemic-induced collapse in demand for oil and the price war Saudi Arabia was then fighting with Russia — two of the world’s largest producers —

Amid Russian crude loss European refiners forced to amend output

European oil refiners will probably be forced to cut production of gasoline and diesel as they seek to find alternatives to Russian feedstocks. Shell Plc, which operates Europe’s biggest oil refinery, said this week that operating rates at some of its plants will be reduced, while finding other crude supplies could take weeks. That would

The simple technology that will bring an end to fossil fuels

The world is turning its back on fossil fuels to save the planet and, in recent times, to hurt Putin and his horrific plans. But, there is a massive problem. Renewable energy, like solar and wind are erratic, and the mega batteries we use to overcome this issue are costly and massively impact the environment.

Eni suspends oil purchases from Russia

Italian energy major Eni has suspended all new purchases of oil and oil products from Russia, according to a statement. “Eni has suspended the stipulation of new contracts related to the procurement of oil and oil products from Russia,” said the emailed statement. “In any case, Eni will fully honor every decision to be taken

Australian LNG exports to Europe likely to increase

Australian exporters could secure new LNG export contracts for existing and new projects to Europe over the next few years as the region seeks to avoid a long-term gas crunch. LNG prices have soared in recent weeks, hitting a six-month high recently, as importers scramble to source new supplies to reduce their dependence on Russia.

Energy-related CO2 emissions touched record highs in 2021

Energy-related carbon dioxide emissions rose to their highest level in history last year, according to the International Energy Agency, as economies rebounded from the coronavirus pandemic with a heavy reliance on coal. The IEA found energy-related global CO2 emissions increased by 6% in 2021 to reach a record high of 36.3 billion metric tons. In

Russia warns of serious consequences for oil ban

Oil prices see-sawed on Tuesday even as Ukraine peace talks made little headway, torn between the prospect of a ban on Russian oil imports and Russia’s warning crude costs could rise to $300 a barrel. After the third attempt by Russia and Ukraine at talks in Belarus, a Ukrainian negotiator said although little progress on

Greenpeace activists protest at Russian LNG tanker on arrival

Greenpeace France activists have taken action at sea to highlight the historical responsibility of fossil fuels in triggering and financing international conflict and to call on Europe to divest from Russian oil and gas and push for investment in renewable energies. On board an inflatable, the activists displayed a banner reading “Fossil Fuels War” in

Spike in oil prices may not be good for energy transition

Currently, oil prices have touched more than $100 a barrel, moreover Russia’s war in Ukraine accentuating the risk of relying on fossil fuel. It seems to be a great time to accelerate the transition away from the polluting fuel. But, the reality isn’t so simple. Public support for climate action has attained greater attention across