Oil

Somalian parliament approves new petroleum law - minister

The upper house of Somalia’s parliament on Monday approved a new petroleum law, which aims to provide a regulatory framework that will help to attract investme…

Geothermal And Biomass Have Great Potential in Indonesia's Energy Future

Geothermal and biomass could be key elements in efforts by Indonesia to curb the high current account deficit, which is caused by the large import of oil and ga…

Oil Price

Oil Surges After Trump Threatens Iraq Sanctions

Oil prices shot more than 2 per cent higher on Monday, with Brent rising above $70 a barrel, after US President Donald Trump issued a threat to impose sanctions…

Oil&Gas Drilling

New Zealand Oil Exploration Hinges on Great South Basin

OMV's drilling programme off the Otago coast this summer will probably determine whether there is any further exploration in New Zealand waters, a leading energ…

Market Analysis

Oil Industry Braces for more Mideast Turmoil After Soleimani Killing

The U.S. assassination of one of Iran’s most powerful generals has the oil industry bracing for something it has long feared and anticipated – direct military…

Oil & Gas Trade

Baltic Pipeline Opens to Ease Natural Gas Dependence on Russia

Stored natural gas has begun flowing to Finland from Latvia through the new Balticconnector pipeline in a bid to ease the region's dependence on Russian gas.

​Iran Tension May Push up Fuel Prices, Spook Bid to Boost Economy

Global oil prices spiked 4 per cent on Friday as tensions flared up in the Middle East, setting off worries over an extended spell of market volatility hitting …

Market Analysis

Oil Infrastructure at Risk as Iran Looks to Avenge Soleimani's Death

Energy infrastructure around the Persian Gulf could be among the most tempting targets for Iran in seeking retaliation for the U.S. killing of Gen. Qassem Solei…

Oil & Gas Trade

Russia to Resume Limited Oil Supplies to Belarus Amid Talks

Belarus has reached an agreement with Russia for limited oil supplies after Moscow earlier this week stopped supplying crude amid stalled talks on strengthening…

Nigeria Final Passage of PIB Expected By Mid 2020, Says Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the review of the Petroleum Industry Bill (PIB) is at an advanced stage, while the …

Crude

Tullow Oil Reveals Discovery of ‘Higher Quality’ Crude Offshore Guyana

Tullow Oil PLC (LON:TLW) has revealed a higher quality oil discovery offshore Guyana, in the Carapa-1 well within the Kanuku licence.

Oil & Gas Trade

Greece, Cyprus and Israel Sign Agreement to Build Gas Pipeline

Greece, Cyprus, and Israel have signed an agreement to construct 1,900-kilometer undersea pipeline to carry natural gas from the eastern Mediterranean to Europe…

Oil&Gas Drilling

China's Top Coal Province to Seek Investors Extracting Gas from Abandoned Mines

Shanxi holds about 2,052 sq km of depleted coal mine zones that could contain an estimated 72.6 billion cubic metres of coal-seam gas.

Oil & Gas Trade

Jordan Gets The First Supplies of Israeli Gas

Under the agreement, the U.S.-Israeli consortium will supply Jordan gas for 15 years from the field in the Mediterranean.

Crude

China Sinochem to Start $4.6 Billion Quanzhou Petrochemical Complex in Mid-2020

China Sinochem Group is expected to start up a new crude processing unit and a petrochemical complex in southeastern China around mid-2020, marking the state fi…