Oil

Oil Price

Oil Giant Aramco Reports Record First Quarter as Oil Prices Soar

Oil giant Aramco reported a more-than 80% jump in net profit Sunday, topping analyst expectations and setting a new quarterly earnings record since its IPO.

LNG

India Looks to Import More LNG amid Rising Demand

Gas demand from households in cities and from the transportation sector in India is currently outpacing supply.

Crude Oil

More Oil From U.S. Strategic Petroleum Reserve Heads to Europe

Europe is set to receive more cargoes of U.S. crude from the Strategic Petroleum Reserve (SPR) as the European Union discusses an oil embargo on Russia and look…

Crude Oil

Shell Agrees to Sell its Russian Petrol Stations

LUKOIL will buy Shell’s Russian retail and lubricants businesses

Oil & Gas Supply

Europe Eyes Gas-Rich African Nations for New Supplies, Rystad Says

Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expec…

Oil & Gas Supply

Russia Could Cut Gas Supply to Finland on Friday

Key Finnish politicians have been warned that Russia could halt its gas supplies to neighbouring Finland on Friday.

OPEC

OPEC+ Misses Production Target by Whopping 2.7 Million Bpd

All 13 members of OPEC saw their production rise by just 153,000 barrels per day.

Offshore Wind Power

BP Bids for Two Dutch Offshore Wind Power Leases

Oil major BP has submitted bids to develop two offshore wind power leases in the Netherlands, it said on Thursday, as the company increases its focus on renewab…

Energy Transition

Circular Economies: A Pathway to the Green New World

Amidst a global energy transition, the financial and social outlook of oil and gas companies is undergoing an extraordinary transformation. One of the key metho…

Crude Oil

China's Shenghong Resumes Crude Buying Ahead of Refinery Commissioning

China's private refining complex Shenghong Petrochemical has resumed crude oil purchases ahead of the commissioning of its new refinery, sources with knowledge …

Natural Gas

Mozambique’s First Offshore Natural Gas Extraction Project is Underway

Sarens has announced its involvement in a natural gas extraction project in Mozambique which, once inaugurated in mid-2022, will be one of the largest in the wo…

Energy Transition

Insurance Giant Allianz Sets Oil and Gas Exit Strategy

The world’s fifth-largest insurance company, Allianz, is withdrawing coverage and investment dollars from a wide swath of fossil fuel projects as of next year.…

Oil Field

Norway’s Equinor Sells Shares in Two North Sea Fields for over $1 Billion

Norwegian state-owned giant Equinor and its compatriot Sval Energi have entered into an agreement for the sale of Equinor’s non-operated share in two North Sea…

Crude Oil

Opec to Attend Iraq Energy Forum in June

Opec said it will participate in the sixth Iraq Energy Forum in Baghdad from June 18-20.

Hydrogen Production

The Hydrogen Stream: Oil Producers Showing Rising Interest in Hydrogen

CoorsTek Membrane Sciences has led a team to demonstrate a 36-cell reactor stack enabled by a new interconnect. The team claims it achieves “complete conversio…