IBT Staff Reporter

Developing countries should not have to target renewable energy sources and turn away from fossil fuels, Nigerian energy officials said on Tuesday, joining other emerging oil-producing nations reluctant to embrace the global energy transition trend.

Developing countries should not have to target renewable energy sources and turn away from fossil fuels, Nigerian and Equatorial Guinea energy officials said on Wednesday, joining other emerging oil-producing nations reluctant to embrace the global energy transition trend.

On the third day of the world's biggest energy conference, the spotlight will pick out natural gas amid debate on its role in the transition to cleaner energy - and its status as a Russian export key to Europe's power generation needs.

Energy industry leaders said the burgeoning energy crisis is perhaps more dire in natural gas markets than in crude oil, due to Europe's dependency on Russia and as prices have been sky-high for months.

Energy industry leaders said the burgeoning energy crisis is perhaps more dire for Europe's natural gas market than its crude oil imports, due to the continent's dependency on Russia and as prices have been sky-high for months.

Norwegian great Ulset to bow out of Paralympics for play dates

Freedom's choice for Afghans: Over the wall or through the desert

Russia inches toward Kyiv, its attacks draw war crimes warnings

Guatemala's Congress approved on Tuesday a law that punishes abortion with up to 25 years in prison and prohibits same-sex marriage and teaching about sexual diversity in schools.

Prudential PLC notched up a 16% rise in 2021 operating profit after it strengthened its focus on Asia, though it warned of implications for global markets and the economy from Russia's invasion of Ukraine.

Hong Kong resident Yeung waited for 13 hours outside a hospital in the city's eastern district in cold, rainy weather with his 3-year-old daughter, who had a high fever, before they could be admitted for COVID-19 treatment.

Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee besieged cities, after days of mostly failed promises that have left hundreds of thousands trapped without access to medicine or fresh water.

Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee besieged cities, but there were only limited signs of progress providing escape routes for hundreds of thousands of people trapped without medicine or fresh water.

Fukushima region forges renewable future after nuclear disaster

Oil prices firmed on Wednesday over fears of a potential supply shock as the United States banned Russian oil imports, and amid signs that some buyers are already shunning them.

Oil prices firmed on Wednesday over fears of a potential supply shock as the United States banned Russian oil imports, and amid signs that some buyers are already shunning them.

Oil slid over 5% on Wednesday, pulling back from a rally to peaks not seen in more than a decade, as some investors' fears over a disruption in Russian supplies eased and the head of the International Energy Agency said the agency could further tap oil stocks.

Oil slid over 7% on Wednesday after reports that the United Arab Emirates will call on fellow OPEC members to boost production, potentially easing some of the supply concerns caused by sanctions on Russia after its invasion of Ukraine.

Oil prices plunged as much as 17% after media reports said OPEC producers United Arab Emirates and Iraq said they would support increased production, potentially offsetting some of the supply disruptions caused by sanctions on Russian oil after its invasion of Ukraine.

Oil prices plunged over 17% on Wednesday after the United Arab Emirates said the OPEC member would support boosting supply into a market in disarray because of supply disruptions caused by sanctions imposed on Russia after it invaded Ukraine.

Global oil prices on Wednesday posted their biggest plunge since the early pandemic days nearly two years ago, after the United Arab Emirates said the OPEC member would support increasing output into a market in disarray because of supply disruptions caused by sanctions imposed on Russia after it invaded Ukraine.

Global oil prices fell on Wednesday by the most in nearly two years after OPEC member the United Arab Emirates said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia after it invaded Ukraine.

Floods that have devastated Australia's east coast will be declared a national emergency, Prime Minister Scott Morrison said on Wednesday, as authorities look to deploy aid and urgent supplies to the worst-hit areas.

Australia declared a national emergency on Wednesday in response to devastating floods along its east coast, and designated catastrophe zones in towns swept away by swollen rivers.

Israel, Turkey hail new era after years of broken ties

Putin nuclear threats 'extremely dangerous', 'blackmail': ICAN

European stock indexes clawed back some ground in early trading on Wednesday after three days of falls, as crude prices rose after the United States banned Russian oil imports.

European stock markets rose on Wednesday as investors paused after three days of selling, while oil prices edged back down from their latest peak.

Global stock markets rallied in Europe and North America on Wednesday after three straight days of selling, and oil prices retreated from the peaks scaled over the last week as investors digested the news of Russian oil import bans.