Oil

Crude Oil

Oil Exporters to See Large Surpluses in 2021 and 2022 Amid Higher Crude Prices

Prices are also up because of underinvestment in the sector, which led to tighter supply

Natural Gas

South Korea Cuts Price of Domestic Natural Gas for Hydrogen Production by 25%

South Korea has cut the domestic price of natural gas used to make hydrogen by 25% to help lower hydrogen production costs in a bid to boost hydrogen consumptio…

Oil Price

LNG Prices Soar To New Record In China

There is one recurring problem with central planning: the greater the level of intervention, the worse and more widespread the unexpected adverse consequences.

Oil Exploration

Empyrean Gearing up to Drill ‘First Exciting Exploration Well in China’

Oil and gas company Empyrean Energy has made significant operational progress towards spudding the LH 17-2-1 exploration well at the Jade prospect on Block 29/1…

Oil Price

Opec+ Set to Meet Amid Calls for Lower Prices as Oil Hits Multi-Year Highs

Crude prices have surged in recent months as economies reopen after months of lockdowns

Uganda

Uganda Counts on TotalEnergies, CNOOC to Create New African Oil Hub

Ugandan President Yoweri Museveni is counting on TotalEnergies SE and CNOOC Ltd. to produce oil from its fields in four years, laying the foundation for a new r…

Crude Oil

OPEC+ Lgnores Calls For More Crude, Adds Meagre 140,000 Bpd In October

OPEC+ added just 140,000 barrels daily of crude oil last month

Natural Gas

POSCO International to Explore Gas Field in Malaysia

POSCO International will explore natural gas mines in Malaysia.

Natural Gas

Gazprom's Gas Production Rises in October

Russia's state-controlled Gazprom boosted gas production in October, despite exports slowing.

Oil Exploration

Equinor Makes Iits 6th Norwegian Oil Discovery of 2021

Equinor EQNR.OL has made an oil discovery estimated to hold up to 62 million barrels of crude off the coast of Norway.

Crude Oil

OPEC Rejects Biden’s Call for More Oil

OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasolin…

Oil Price

Bank of America Expects $120 Oil by June 2022

Bank of America expects Brent crude to hit $120 a barrel by the end of June 2022.

Oil Price

Aramco Books 158% Surge In Q3 Net Profit On Higher Oil Prices

Saudi state energy giant Aramco booked a net profit of $30.4 billion for the third quarter of the year, up by 158 percent from the third quarter of 2020 on subs…

Crude Oil

Iraqi Crude Exports Inch up in October

Iraqi crude exports marketed by state-owned Somo edged up in October, according to preliminary figures from the country's oil ministry.

Oil Field

Serica Announces Delay of Columbus Production Start-up

UK oil and gas company Serica Energy has confirmed the start-up of production at its Columbus field located in the Central North Sea will be delayed.