Unlike the European Union, Australia has no SAF requirements, but BP plans to convert an oil refinery in Kwinana and become Australia's first producer of the sustainable fuel from 2025.

The IEA and the US say the energy crisis stemming from curbs on Russia should be a warning for Indo-Pacific nations to focus on shifting away from fossil fuels and China's solar tech suppliers

A senior Russian legislator said on Thursday that Moscow would take control of the Sakhalin-1 oil and gas project in which ExxonMobil and Japan's SODECO are also partners

The quotas will bring this year's total refined fuel export quotas to 22.5 million tonnes, 39% less than the first three allotments last year

The deal is part of one-year pilot programme to test the new fuel for planes

The US Treasury cracked down on Hong Kong-based Lustro Industry, saying it hid its role in purchases of petrochemical products for delivery to China, plus Triliance Petrochemical

About 2 million barrels of cheap Russian crude oil flowed into China every day in June, according to industry monitors, who said supplies from Africa and the Middle East were being squeezed out

Negotiations with the International Monetary Fund have got more difficult and complicated because the country is bankrupt, the PM told Parliament on Tuesday

Shares in Indian energy firms fell sharply on Friday after Delhi imposed a tax on fuel exports. Reliance sank by 8.7%, while state-owned ONGC and Mangalore Refinery each slumped 10%

The new firm will take over rights and obligations of Sakhalin Energy Investment Co, in which the two Japanese companies and Shell hold just under a 50% stake

A source said the price-per-barrel cap level had not yet been determined, but it would have to be high enough to give Russia an incentive to keep producing oil

China and India have been stocking up on Russian oil, but their actions have undermined efforts by the US and Europe to impose sanctions that limit funds to the Kremlin while it wages war in Ukraine