Tuesday, May 13, 2025
China says fossil fuel phase-out is unrealistic- oil and gas 360

China says fossil fuel phase-out is unrealistic

Oil Price Phasing out fossil fuels is unrealistic as oil, natural gas, and coal will continue to play a crucial role in global energy supply and energy security, China’s special climate envoy Xie Zhenhua said this week in a speech obtained by Reuters. “It is unrealistic to completely phase out fossil fuel energy,” Xie, who will represent China at COP28 in

Oil prices rise as Russia fuel export ban stokes supply concerns- oil and gas 360

Oil prices rise as Russia fuel export ban stokes supply concerns

CNBC Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates. Brent futures were up 80 cents, or 0.86%, at $94.10 a barrel by 1154 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by 95 cents, or 1.06%, to $90.58 a barrel. Brent