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OPEC

Saudi Arabia May Push for Higher OPEC Production

Fox News: Saudi Arabia is reportedly planning to advocate for higher production at the upcoming OPEC+ meeting.

Oil Field

First Oil Flows From North Sea Field

German oil and gas company Wintershall Dea has started production from its operated Nova oil field in the Norwegian sector of the North Sea.

Siemens Gamesa Posts €340M Quarterly Loss

Manufacturer reportedly considering cutting 2500 jobs, equivalent to 9% of its workforce.

Oil Price

Saudi Arabia’s Economy Grows 12% In Q2 on High Oil Prices

Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited…

South Africa

South Africa Power Crisis Causes State Monopoly to Open Up

After years of blackouts, the Government of South Africa has started to break the monopoly of its state-owned utility.

Intersect Power Orders 2.4 GW of First Solar’s Modules

US-headquartered First Solar has announced that it has entered into an agreement to supply 2.4 GWDC of its high-performance, advanced thin film photovoltaic (PV…

United Kingdom

Octopus ‘Asks for £1BN Government Support to Seal Bulb Takeover Deal’

The energy supplier is reportedly keen on paying up to £200 million to take on Bulb’s 1.6 million customers.

Wave Energy

The Wave Power Generator Experts Say ‘Proves Ocean Energy Can Work’ Is Already Powering Australian Homes

For the first time in Australia's history, a wave energy converter trial has successfully generated energy from the chaotic and wild ocean waves to power homes.…

OPEC

OPEC Secretary General Says Russia’s Membership in OPEC+ Is Vital for Success of Agreement

OPEC's new secretary general said that Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported on Sunday.

Oil Field

Green Light From TotalEnergies for Oil Project off Angola

France-headquartered energy giant TotalEnergies has taken a final investment decision (FID) to develop an oil development project located offshore Angola.

Chevron, Exxon Post Record Quarterly Profits as Commodity Prices Boom

Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in ch…

Energy Investment

Adnoc Distribution to Buy 50% Stake in TotalEnergies Egypt in Its Largest Investment

The acquisition, expected to be completed in the first quarter of 2023, marks the UAE company's entry into Arab world's most populous market

Shell Reports Record Profit of $11.5 Billion

Shell on Thursday reported a profit of $11.5 billion for the second quarter, beating expectations, lifted by strong refining profits and energy prices.

LNG

US Takes Over as World’s Largest LNG Exporter

LNG exports increased by 12% in the first half of 2022, averaging 11.2 billion cubic feet per day, compared with the second half of 2021

Solar Power Panel

First Solar Receives 500 MW Order From Akuo

First Solar has announced that Akuo, a Paris-headquartered independent global renewable energy producer and developer, has placed an order for 500 MWDC of respo…