https://www.scmp.com/rss/523871/feed The latest news and top stories on Rystad Energy. An Oslo-based independent energy research and business intelligence company, Rystad Energy is dedicated to providing data tools, analytics and consultancy services. Its main areas of focus include analysis and insights into commodity markets, including oil, gas, renewables and clean technologies. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Biman Mukherji Biman Mukherji India’s military is exploring alternative energy sources amid surging oil and gas prices caused by supply disruption from the Iran war, a trend that analysts say is set to accelerate among Asian countries heavily dependent on energy imports. According to local media reports, the Indian army plans to get biogas stoves to replace natural gas-fired appliances for cooking. It is also exploring the use of green fuels for army vehicles and administrative work, as well as solar and wind power for... https://www.scmp.com/week-asia/economics/article/3352787/indias-military-turns-green-energy-options-iran-war-prompts-new-strategy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352787/indias-military-turns-green-energy-options-iran-war-prompts-new-strategy?utm_source=rss_feed Thu, 07 May 2026 11:47:52 +0000 Biman Mukherji Biman Mukherji Asia’s oil import-dependent economies will benefit from the United Arab Emirates’ (UAE) exit from Opec, though the ongoing closure of the arterial Strait of Hormuz may not offer any immediate relief from soaring prices, analysts say. Global oil prices continued to surge on Wednesday, with benchmark Brent crude oil prices hitting US$111 a barrel and US West Texas Intermediate (WTI) approaching US$100 a barrel. Before the Iran war, Brent was trading around US$70 a barrel, while WTI was about US$65... https://www.scmp.com/week-asia/economics/article/3351776/why-uaes-exit-opec-good-news-asias-energy-security?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351776/why-uaes-exit-opec-good-news-asias-energy-security?utm_source=rss_feed Wed, 29 Apr 2026 03:23:16 +0000 Biman Mukherji Biman Mukherji Iran’s firing on two Indian-flagged oil tankers in the Strait of Hormuz has raised fresh questions about how far Tehran can protect even friendly shipping as the conflict pushes closer to maritime chaos. The attack on Saturday has been especially awkward for Tehran because New Delhi is not an adversary and still maintains working ties, including renewed oil purchases in recent weeks under a temporary US sanctions waiver. Analysts said the attack on Jag Arnav and Sanmar Herald was likely a case... https://www.scmp.com/week-asia/politics/article/3350775/can-iran-protect-friendly-shipping-attack-indian-tankers-raises-safety-questions?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3350775/can-iran-protect-friendly-shipping-attack-indian-tankers-raises-safety-questions?utm_source=rss_feed Tue, 21 Apr 2026 00:00:13 +0000 Carol Yang Carol Yang Though high-level officials in Washington have accused China of undermining global energy security by “hoarding” oil during the US-Israeli war on Iran, import and inventory data suggest Beijing is facing its own supply pressures as the conflict drags on. US Treasury Secretary Scott Bessent on Tuesday labelled China an “unreliable global partner,” alleging that Beijing has prioritised stockpiling crude over easing global shortages triggered by the war, according to a Reuters report. He also... https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed Wed, 15 Apr 2026 13:30:09 +0000 Biman Mukherji Biman Mukherji Washington’s naval blockade of the Strait of Hormuz is threatening to tip Asia into its worst energy crisis in living memory, with peace talks on the Iran war stalled and no clear timeline for when oil flows might resume. The United States moved to seize control of the flashpoint waterway on Monday night, with US President Donald Trump framing the move as a way to force Iran to open the strait and accept a deal to end the war. Iran responded by threatening all ports in the Persian Gulf and the... https://www.scmp.com/week-asia/economics/article/3350057/asias-energy-supply-breaking-point-us-blockades-hormuz?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3350057/asias-energy-supply-breaking-point-us-blockades-hormuz?utm_source=rss_feed Tue, 14 Apr 2026 10:09:18 +0000 Biman Mukherji Biman Mukherji Asia is bracing itself for another energy shock after a disruption to Qatar’s liquefied natural gas (LNG) output sent regional gas prices to their highest level in about three years, exposing what observers say is a dangerous reliance on Middle Eastern fuel supplies. The increase follows Iran’s drone strikes on Qatar in retaliation for Israeli and US attacks in a widening conflict, alongside a blockade of shipping through the Strait of Hormuz – a key artery for global oil and gas trade. Spot LNG... https://www.scmp.com/week-asia/economics/article/3345728/qatars-lng-halt-exposes-asias-energy-vulnerability?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3345728/qatars-lng-halt-exposes-asias-energy-vulnerability?utm_source=rss_feed Fri, 06 Mar 2026 09:30:39 +0000 Biman Mukherji Biman Mukherji India wants 100 gigawatts of nuclear capacity by mid-century. It currently has roughly 8GW. Getting there will require not just capital, technology and political will, but a reliable fuel supply that domestic production alone cannot provide. The 10-year uranium agreement signed on Monday when Canada’s Prime Minister Mark Carney met his Indian counterpart Narendra Modi in New Delhi is designed to address exactly that constraint. Analysts say it is a structural commitment – one intended to meet... https://www.scmp.com/week-asia/politics/article/3345211/indias-100gw-nuclear-push-was-missing-one-thing-canada-just-provided-it?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3345211/indias-100gw-nuclear-push-was-missing-one-thing-canada-just-provided-it?utm_source=rss_feed Tue, 03 Mar 2026 04:14:45 +0000 Biman Mukherji Biman Mukherji Oil prices surged by the most in four years on Monday as the killing of Iranian supreme leader Ayatollah Ali Khamenei amid a widening conflict between the United States, Israel and Iran brought tanker traffic through the Strait of Hormuz to a near standstill. Freight costs climbed sharply alongside crude, as traders swiftly priced in the war, which analysts say will have far-reaching consequences for Asia’s heavily import-dependent economies. Benchmark Brent crude jumped 13 per cent to a high... https://www.scmp.com/week-asia/economics/article/3345098/asia-faces-oil-shock-us-iran-war-chokes-strait-hormuz?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3345098/asia-faces-oil-shock-us-iran-war-chokes-strait-hormuz?utm_source=rss_feed Mon, 02 Mar 2026 06:03:51 +0000 Reuters Reuters Indian Prime Minister Narendra Modi’s push to accelerate the roll-out of rooftop solar power is falling short of targets despite heavy subsidies due to loan delays and limited support from state utilities, vendors and analysts say. The shortfalls represent the latest challenge to India’s efforts to nearly double clean energy capacity to 500 gigawatts by 2030, and come as the government plans to suspend clean energy tendering targets amid a mounting backlog of awarded projects yet to be... https://www.scmp.com/news/asia/south-asia/article/3343665/indias-solar-power-push-misses-targets-red-tape-loan-refusals-hamper-transition?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3343665/indias-solar-power-push-misses-targets-red-tape-loan-refusals-hamper-transition?utm_source=rss_feed Mon, 16 Feb 2026 01:48:09 +0000 Mia Nurmamat Mia Nurmamat China’s discounted crude purchases are coming under strain as the United States tightens its stance on Iran and Venezuela, with analysts warning that more refineries may have to turn to higher-priced barrels from Canada, Brazil and the Middle East. The world’s second-largest economy is also accelerating its shift to electric vehicles and ramping up domestic fossil fuel production to help narrow its oil supply gap, while maintaining strategic reserves to mitigate any potential disruption. After... https://www.scmp.com/economy/china-economy/article/3342374/us-toughens-stance-how-exposed-china-iranian-and-venezuelan-oil?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342374/us-toughens-stance-how-exposed-china-iranian-and-venezuelan-oil?utm_source=rss_feed Wed, 04 Feb 2026 22:02:42 +0000 Bloomberg Bloomberg US President Donald Trump said Venezuela would relinquish as much as 50 million barrels of oil to the United States, worth roughly US$2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries. The announcement on Tuesday marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the US capture of leader Nicolas Maduro on Saturday. After the operation, Trump said that the... https://www.scmp.com/news/world/united-states-canada/article/3338975/trump-meet-oil-bosses-push-venezuela-output-revival?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3338975/trump-meet-oil-bosses-push-venezuela-output-revival?utm_source=rss_feed Tue, 06 Jan 2026 22:35:40 +0000 Biman Mukherji Biman Mukherji Asian economies face the risk of renewed volatility in oil prices this year as analysts say the US capture of Venezuela’s leader Nicolas Maduro and uncertainty over Washington’s plans for the oil-rich South American country may unsettle investor sentiment. On Monday morning, Benchmark Brent crude opened about 1.2 per cent lower near US$61 a barrel, before falling further to US$60.54 in the early afternoon, while US West Texas Intermediate crude declined by 0.5 per cent to US$57.04 a barrel. The... https://www.scmp.com/week-asia/economics/article/3338786/asian-economies-face-volatile-oil-prices-over-venezuela-us-plans-caracas?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3338786/asian-economies-face-volatile-oil-prices-over-venezuela-us-plans-caracas?utm_source=rss_feed Mon, 05 Jan 2026 10:32:09 +0000 Biman Mukherji Biman Mukherji India has taken a decisive step to open its tightly controlled nuclear power sector to private and foreign capital, signalling a shift in how the country plans to meet soaring electricity demand while cutting emissions. Parliament earlier this month approved the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (Shanti) Bill, one of the most consequential overhauls of India’s civilian nuclear framework in decades, ending years of near-exclusive state control. Under... https://www.scmp.com/week-asia/economics/article/3337634/indias-new-law-fuel-energy-needs-drive-nuclear-power-growth?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3337634/indias-new-law-fuel-energy-needs-drive-nuclear-power-growth?utm_source=rss_feed Wed, 24 Dec 2025 09:35:33 +0000 Biman Mukherji Biman Mukherji Asia’s oil-dependent economies could soon find further relief as a peace deal between Moscow and Kyiv edges closer, raising the prospects of Russia resuming crude supply to global markets and again reshaping supply dynamics that have significantly influenced prices since the war in Ukraine broke out in 2022. Analysts told This Week in Asia that the potential accord had already led to lower oil prices amid heightened expectations that sanctions against Moscow might soon be lifted, potentially... https://www.scmp.com/week-asia/economics/article/3334369/asias-oil-markets-eye-ukraine-russia-peace-deal-will-prices-fall-further?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3334369/asias-oil-markets-eye-ukraine-russia-peace-deal-will-prices-fall-further?utm_source=rss_feed Thu, 27 Nov 2025 09:46:28 +0000 Reuters Reuters Opec is set to agree on Sunday on another modest increase in oil output targets, three sources familiar with the talks said, as the producers’ group moderates plans to regain market share due to rising supply glut fears. Opec has raised output targets by more than 2.7 million barrels per day (bpd) – about 2.5 per cent of global supply – since April but slowed the pace in October and November from larger increases amid predictions of a looming oversupply. New Western sanctions on Opec member... https://www.scmp.com/news/world/russia-central-asia/article/3331245/opec-agrees-output-increase-moderates-plans-due-glut-fears?utm_source=rss_feed https://www.scmp.com/news/world/russia-central-asia/article/3331245/opec-agrees-output-increase-moderates-plans-due-glut-fears?utm_source=rss_feed Sun, 02 Nov 2025 13:31:54 +0000 Biman Mukherji Biman Mukherji Carbon dioxide emissions are expected to peak globally next year, marking a turning point in the energy transition, with Asia set to play a prominent role in decarbonisation. The findings were revealed in a report by Rystad Energy released on Thursday, which noted that while the shift to renewable energy had gained momentum, peak oil demand was set to occur only by the 2030s, with near-term demand for fossil fuels including gas likely to be resilient. Emerging countries such as Pakistan and... https://www.scmp.com/week-asia/health-environment/article/3330986/asia-play-key-role-decarbonisation-amid-shift-renewables-report?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3330986/asia-play-key-role-decarbonisation-amid-shift-renewables-report?utm_source=rss_feed Fri, 31 Oct 2025 04:00:12 +0000 Biman Mukherji Biman Mukherji India is expected to stop buying discounted Russian oil after the imposition of fresh US sanctions on two top producers, Rosneft and Lukoil, and instead increase its purchases of other goods from long-time ally Moscow. Many Indian refiners have paused new orders of Russian oil since Washington sanctioned the two Russian crude exporters last week, with buyers turning to the spot market for alternatives, according to a Reuters report. India, along with China, has been among the top buyers of... https://www.scmp.com/week-asia/economics/article/3330878/india-pressured-stop-russian-oil-imports-after-us-sanctions-2-more-producers?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3330878/india-pressured-stop-russian-oil-imports-after-us-sanctions-2-more-producers?utm_source=rss_feed Thu, 30 Oct 2025 08:00:12 +0000 Biman Mukherji Biman Mukherji In the wake of a landmark ceasefire deal between Israel and Hamas, the world’s oil traders are watching the Middle East with a rare sense of cautious optimism, as hopes for lasting peace begin to chip away at the recent risk premium attached to global energy flows. While analysts caution that the immediate effects on oil supply and demand may be muted, the truce is already having an effect. Should the agreement lead to fewer attacks on Red Sea shipping lanes, renewed progress on Iran’s nuclear... https://www.scmp.com/week-asia/economics/article/3328566/asia-eyes-cheaper-oil-israel-hamas-ceasefire-kindles-hope-calm?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3328566/asia-eyes-cheaper-oil-israel-hamas-ceasefire-kindles-hope-calm?utm_source=rss_feed Sat, 11 Oct 2025 08:00:15 +0000 Agence France-Presse Agence France-Presse Eight key members of the Opec alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales. Oil ministers in the V8 grouping – comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman – decided to increase production by 137,000 barrels a day (bpd) from next month, they said in a statement. Those countries had already increased production by 2.2 million bpd in... https://www.scmp.com/news/world/article/3324668/key-opec-members-send-big-message-higher-oil-production?utm_source=rss_feed https://www.scmp.com/news/world/article/3324668/key-opec-members-send-big-message-higher-oil-production?utm_source=rss_feed Sun, 07 Sep 2025 15:32:36 +0000 Biman Mukherji Biman Mukherji US President Donald Trump’s threat to impose steep secondary tariffs on countries trading with Russia has raised alarm in India over the future of its discounted oil purchases from Moscow, with analysts warning the issue could complicate negotiations on a bilateral trade deal with Washington. Trump vowed on Monday to impose “very severe tariffs” if Russia did not end its war in Ukraine within 50 days. Washington would target Moscow’s remaining trade partners with measures aimed at choking off... https://www.scmp.com/week-asia/economics/article/3318295/india-fix-over-trumps-tariff-threat-aimed-russian-oil?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3318295/india-fix-over-trumps-tariff-threat-aimed-russian-oil?utm_source=rss_feed Tue, 15 Jul 2025 10:00:17 +0000