Latest: Energy News

The proposed legislation would impose penalties on countries that increase their imports of Russian oil, provoking tensions with India and China, The Economic Times said.

Europe is "20 years" behind China and will have to rely on them for raw materials for some time, Livista Energy chief Roland Getreide was quoted as saying

China's purchases have climbed in order to reap the benefits of a plunge in European buying as sanctions push Moscow in search of alternative markets.

Core consumer inflation hit 2.8% in August, its fastest since late 2014, which was well over the central bank's target. Price pressure is seen as lasting longer than the BoJ expected

China bought a record 8.54 million tonnes of Russian coal last month to help deal with extreme hot weather, plus 15.8 million tonnes of thermal coal from Indonesia.

Traders expected China's exports of gasoline, diesel and jet fuel to rebound in August after Beijing issued more export quotas in June and July.

The world's largest exporter of coal wants to retire some coal plants early and nearly double the proportion of renewable power sources in its energy mix to 23% by 2025