It was not immediately clear if the new ceiling included rejoining member Indonesia or not.

OPEC has agreed to raise its output ceiling to 31.5 million barrels per day at a meeting on Friday, OPEC sources said in what appeared to be an effective acknowledgment of existing production.

Japan Trio Begins Work on an Ammonia-Fueled Tugboat

As the marine industry works to find the ‘fuel of the future’ to address increasingly stringent emission regulations, an…

Robotics: Autobots Transform in the Offshore Energy Sector

Robots and robotics have slowly been entering our lives, in various shapes and forms (and fictional characters), from self…

Opinion: Egypt Banks on Renewables to Meet Expected Energy Demand Surge

To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become…

Taiwan: Fire Hits Formosa's Mailiao Refinery

Taiwan's Formosa Petrochemical Corp has shut a residue desulfurizer (RDS) unit at its 540,000 barrels-per-day (bpd) Mailiao…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both…

Shell to Write Down $22B in Wake of Coronavirus

Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked…

OPEC Production in June Cut by 1.25 mbpd

OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint…

Amprion Sets Out North Sea Offshore Wind Grid Vision

German power grid company Amprion on Wednesday unveiled long-term plans for joint European offshore wind links in the North…

Innogy Picks Most Powerful Wind Turbine for Its Largest Offshore Wind Project

Offshore wind developer Innogy has chosen giant 14 megawatt (MW) offshore wind turbines for its flagship 1.4 gigawatt (GW) Sofia Offshore Wind Farm…

Sinopec Starts Up $6B Zhanjiang Refinery Complex

Top Chinese state refiner Sinopec Corp said on Tuesday it had started up a $6 billion new refinery and petrochemical plant in south China, making it t

Saudi Oil Price Hike Throws Asian Lifeline to U.S. Shale

Saudi Arabia's decision to jack up the price of its July exports to Asia may have opened the door for U.S. crude oil producers…

OPEC, Russia Extend Record Oil Cuts

OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal…