The report from the IEA, which advises industrialised countries, contrasts with the view of oil producer group the Organization of the Petroleum Exporting Countries, which sees oil demand rising long after 2030 and calls for trillions in new oil sector investment. In its annual World Energy Outlook released on Tuesday, the IEA said peaks in […]

Javad Owji and his Syrian counterpart Firas Hassan Kaddour, who met on the sidelines of the 6th Russian Energy Week International Forum in Moscow, discussed global energy market and regional developments. “We welcome the expansion of Tehran-Damascus relations as the Leader of the Islamic Revolution and the Raeisi administration have put great emphasis on boosting […]

Diesel is Russia’s biggest oil product export, at about 35 million tonnes last year, of which almost three quarters were shipped via pipelines. Russia also exported 4.8 million tonnes of gasoline in 2022, Reuters reported on Friday. Global oil prices reversed early gains to decline after the news. As of 0730 GMT, Brent futures nudged […]

Appetite for Iranian crude is growing in China, the world’s biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions, reported the Reuters. Although China’s “teapots”, or small independent refiners, are stocking up on Iran’s discounted oil […]

AMB Spa, a packaging producer based in Italy, will use PET flakes from Indoraa’s PET tray recycling operations in its food-grade packaging film. The partnership between AMB and Indorama is aimed at diverting 150 million post-consumer trays from landfill or incineration by the end of 2025. Indorama produces flakes from post-consumer PET trays at its facility […]

 Hanover, Germany – Continental has started production of the UltraContact NXT – its “most sustainable series tire to date” – at its manufacturing site in Lousado, Portugal. With up to 65% renewable, recycled and mass balance certified materials, the new summer tire is claimed to combine a “remarkably high share of sustainable materials with maximum […]