US diplomats intend to set up working groups with their Armenian and Azerbaijani counterparts to accelerate implementation of the US-brokered provisional peace plan signed in August in Washington, according to a state-connected media outlet in Azerbaijan. The Report.az outlet queried the State Department about the status of the peace deal, the centerpiece of which is the establishment of a corridor connecting the Azerbaijani mainland with its Nakhchivan exclave across Armenian territory, dubbed the Trump Route for International Peace…

CNOOC Ltd, China’s top offshore crude oil and gas producer, on Thursday said its net profit fell by 12.2% from a year earlier in the third quarter, amid a decline in oil prices.  CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported a third-quarter net profit of $4.6 billion (32.4 billion Chinese yuan) for the July-September quarter, down by 12.2% on the year.  The lower Brent crude prices this year couldn’t offset the rise in CNOOC’s oil and gas production in China and…

CNOOC Ltd, China’s top offshore crude oil and gas producer, on Thursday said its net profit fell by 12.2% from a year earlier in the third quarter, amid a decline in oil prices.  CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported a third-quarter net profit of $4.6 billion (32.4 billion Chinese yuan) for the July-September quarter, down by 12.2% on the year.  The lower Brent crude prices this year couldn’t offset the rise in CNOOC’s oil and gas production in China and…

The Zimbabwe government has finally approved the involvement of independent power producers (IPPs) and private companies to generate, sell, and distribute electricity in the country, marking a significant policy shift for a country that has been struggling with high power demand but low supply. The government also plans to launch a competitive bidding process in 2026, further liberalizing the sector.  According to a public notice issued by the Zimbabwe Energy Regulatory Authority (ZERA), the move will help attract more investments into the…

The world’s electricity demand is expected to surge by 30% over the next decade as data centers, electric vehicles, and demand for heating and cooling drive increased consumption, a new report by Rystad Energy says.  Renewable power generation, especially solar energy, is expected to be crucial to meeting the electricity demand growth, found the report cited by Bloomberg.   Renewable energy is forecast to provide 55% of all electricity globally by 2035, raising its share from 34% today, according to the energy intelligence…

There’s an exciting new development in the global race to discover next-gen battery tech. Iron-air batteries are finally ready to be tested in real-world applications, with major disruptive potential for the energy storage sector. These batteries use rust to create electricity and have the potential to deliver long-term energy storage at a time when such a breakthrough is desperately needed.  Iron-air batteries function by running air through a negatively charged cathode toward a positively charged iron anode to react with a water-based…

NNPC, the state-owned Nigerian oil company, is looking to revive the three state refineries in Africa’s top crude producer and plans to select technical equity partners to help resume operations at the facilities that have been idled for years.   In an update on Nigeria’s refineries, NNPC said that it “continues to make measured progress in the comprehensive technical and commercial review of the nation’s three refineries — Warri, Port Harcourt, and Kaduna.”  These three refineries have a total…

NNPC, the state-owned Nigerian oil company, is looking to revive the three state refineries in Africa’s top crude producer and plans to select technical equity partners to help resume operations at the facilities that have been idled for years.   In an update on Nigeria’s refineries, NNPC said that it “continues to make measured progress in the comprehensive technical and commercial review of the nation’s three refineries — Warri, Port Harcourt, and Kaduna.”  These three refineries have a total…

China has agreed to begin the process of buying American energy products, U.S. President Donald Trump said on Thursday after meeting with Chinese President Xi Jinping in South Korea.   Hailing “a truly great meeting” with the Chinese leader, President Trump said in a Truth Social post “We agreed on many things, with others, even of high importance, being very close to resolved.” China has agreed to resume purchases of U.S. soybeans and other farm products, President Trump added.   In a sign that there…

Lukoil has agreed to sell its international business to Switzerland-based commodity trader Gunvor, the second-largest Russian oil company said on Thursday, a week after the U.S. slapped sanctions on Russia’s top oil firms, making doing business with their international subsidiaries extremely complex and nearly impossible.  Following the U.S. sanctions on Lukoil and Rosneft from last week, “as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” Lukoil announced early this week…

Washington has drawn a new line in the global battle for critical minerals. The U.S. Export-Import Bank has issued a $200 million Letter of Interest to REAlloys Inc., a rare-earth company developing what could become North America’s first fully integrated mine-to-magnet supply chain. The commitment marks one of the clearest signals yet that the United States intends to rebuild the rare-earth infrastructure that China has dominated for a generation.REAlloys, now completing its merger with Blackboxstocks (NASDAQ: BLBX), plans to link every…

Asian energy importers are curbing their appetite for thermal coal as prices rebound after falling to the lowest in four years earlier in 2025. Reuters’ Clyde Russell reported today that October coal arrivals in China, India, Japan, and South Korea were all going to be lower than the September total because of the price developments. Since June, when thermal coal fell to a four-year low, prices for Australian coal have added 16% while Indonesian coal prices have inched up by 12%. The price recovery was driven by higher Chinese imports during…

US President Donald Trump and Chinese leader Xi Jinping held talks in South Korea where they discussed the war in Ukraine and agreed to walk back elements of their bruising trade war. Speaking aboard Air Force One following the October 30 sit down, Trump said that he had an "amazing meeting" with Xi and they they agreed on "many important points," including agreements on trade, tariffs, and rare-earth minerals. He told reporters that he will reduce a tariff on China over its role in the fentanyl crisis by 10 percent and that China would resume…

Exxon has canceled a public appearance by several executives scheduled for today, at which they were supposed to reaffirm the company’s commitment to the Rovuma LNG project, currently frozen, in the company of Mozambique’s president, Daniel Chapo. The $30-billion facility that will be the biggest LNG export hub in Africa once completed has yet to receive a final investment decision, mainly due to the unstable security situation in the Cabo Delgado region, where both Rovuma and TotalEnergies’ Mozambique LNG are located. Mozambique…

Exxon has canceled a public appearance by several executives scheduled for today, at which they were supposed to reaffirm the company’s commitment to the Rovuma LNG project, currently frozen, in the company of Mozambique’s president, Daniel Chapo. The $30-billion facility that will be the biggest LNG export hub in Africa once completed has yet to receive a final investment decision, mainly due to the unstable security situation in the Cabo Delgado region, where both Rovuma and TotalEnergies’ Mozambique LNG are located. Mozambique…

Trump, after the summit aboard Air Force One, claimed to have reached a one-year deal in Busan. Oil prices dipped slightly as markets reacted cautiously, awaiting more details on the deal’s enforcement. Trump said Taiwan was not discussed, but noted plans for cooperation with Xi on the Ukraine conflict. End of live blog 1m ago1:16am CST Oil Markets Unmoved Oil markets appeared largely unmoved by the news of a U.S.-China trade pact, with prices holding near session lows despite broader risk-on sentiment across equities. WTI crude hovered 0.63%…

When the official report on the Spain and Portugal blackout from April came out, it described a grid made vulnerable to excess voltage as a result of the fast growth of weather-dependent generators. But this excess voltage problem is not just reserved for the Iberian Peninsula. The whole of Europe has become vulnerable. Last year, a total of 65.5 GW of solar generation capacity was installed across the European Union. It was a record high, and the fourth record-high year of installations in a row, as reported by the EU’s solar power industry…

The Trump Administration is following through on its pledge to revive America’s nuclear energy with a strategic partnership with Westinghouse and Cameco to help build large-scale nuclear power plants in the U.S. with a total investment of at least $80 billion. In the landmark agreement, Cameco Corporation, Brookfield Asset Management, and Westinghouse Electric Company have entered into a binding term sheet with the United States Department of Commerce to establish a strategic partnership, which is expected to accelerate the global deployment…

As the AI boom sends shockwaves across energy grids around the world, global leaders are rushing to add extra power production capacity as fast as they can. The problem is, no one knows how much energy AI is going to be using a year or five years from now. In fact, we don’t even know how much it’s using right this moment. The result is a mad scramble to maintain energy security in the face of unprecedented uncertainty, with potentially disastrous results for global energy grids and climate goals.  “In the past few years,…

Trump has launched the United States’ most aggressive rare-earth and critical-minerals expansion in more than a decade, signing over $10 billion in supply-chain deals across Australia, Japan, Malaysia, and Thailand in less than a week. The flurry of agreements aims to cut China’s 90 percent grip on global refining capacity and establish a network of Indo-Pacific partners for mining, processing, and stockpiling key materials vital to defense and clean-tech industries.On Tuesday, the United States and Japan signed an agreement to secure…