Latest: Energy News

Heavy flooding is likely to continue in July and August, according to a government official. Meanwhile, drought conditions are also exacerbating problems in other regions.

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

Gotion said it would build total battery production capacity of 300 gigawatt hours (GWh) over three years against the 16 GWh it produced in 2021. It plans to have a third of that output overseas

Japan warns that the electricity supply in Tokyo will be strained as heat increases in the capital. Officials have called for people to be conservative in their use of power

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

Profits shrank 6.5% year-on-year, less than the 8.5% decline in April, according to data released by the National Bureau of Statistics (NBS) on Monday

Britain, the United States, Japan and Canada announced a ban on imports of Russian gold, sales of which totalled $15bn last year, at the start of the G7 three-day summit on Sunday