Oil

Crude Oil

UK’s Market-Defying North Sea Oil IPO Falls Flat

After braving high-level market volatility in Britain’s biggest IPO of the year, North Sea oil and gas producer Ithaca Energy warned that any further boost to …

OPEC

Iraq's October Oil Output in Line With OPEC+ Quota, SOMO Data Show

Iraq produced 4.651 million barrels per day (bpd) of crude in October, down by 11,000 bpd from September.

Crude Oil

EIA Cuts World Oil Demand Growth for 2023

The U.S. Energy Information Administration has slashed its world oil demand growth forecast for next year as President Biden lashed out at oil companies for not…

Oil Price

European Commission Says Gas Price Cap Is Impossible

The European Commission told countries at a Monday seminar this week that there was no way to create a gas price cap as previously requested by EU leaders.

South Korea

South Korea, Saudi Arabia Eye Continued Cooperation for Energy Supply Chain

The two markets aim to collaborate on oil and hydrogen.

Carbon Emissions

COP27: UAE Says Will Carry on Pumping Oil Responsibly

The United Arab Emirates will be a responsible supplier of oil and gas for as long as the world needs.

LNG

Canadian LNG Exports to Asia Could Cut Emissions by the Equivalent of Removing All Vehicles From Canadian Roads, New Study Shows

Canadian liquefied natural gas (LNG) exports to Asia could reduce annual emissions by the equivalent of removing every single car from Canadian roads.

Floating Offshore Wind

Oil Firm Equinor Looks to Celtic Sea for Floating Wind Development

Norwegian oil and gas major Equinor on Monday said it was interested in developing a "gigawatt scale" floating offshore wind project off the coast of Britain i…

Oil Pipeline

Curbing Oil Theft Has Helped Pipeline Availability, Nigeria LNG Says

Nigeria LNG said there had been an improvement in the availability of some oil pipelines since the government and state oil firm NNPC LTD stepped up efforts in …

Oil Price

Euro Could Stay Below Dollar for as Long as Natural Gas Prices Remain High

The euro is on course to stay below parity with the US dollar for some time if gas prices do not fall markedly.

Oil&Gas Drilling

Biden Says “No More Drilling” at a Rally

“No more drilling…there is no more drilling,” said U.S. President Joe Biden at a campaign rally in New York state on Sunday when asked by a person in the cro…

Oil Price

Saudi Arabia Cuts Oil Prices for Asia

Saudi Arabia has lowered its official selling prices for oil for all its Asian clients, with the flagship Arab Light for December delivery now priced $0.40 lowe…

Natural Gas

Enbridge Greenlights C$3.6 Billion Gas Pipeline Expansion in Canada

Canadian energy infrastructure firm Enbridge Inc on Friday announced a C$3.6 billion expansion of the southern segment of its British Columbia (B.C.) gas pipeli…

Oil&Gas Drilling

Drillers Ask U.S. To Exempt Smallest Wells From Looming Methane Rule

Oil and gas companies have asked the Biden administration to exempt hundreds of thousands of the nation's smallest wells from upcoming rules requiring drillers …

Crude Oil

UAE Believes the Oil Industry Is in “Decline Mode”

Crude oil is in “decline mode” in the long term, OPEC heavyweight the United Arab Emirates (UAE) says.