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Crude Oil

Petroecuador Plans to Double Oil Output in Next Five Years. Target Set at 800,000 Boed

Petroecuador, Ecuador's state-owned oil company, on Friday said it will look to double production to 800,000 barrels of oil equivalent per day (boed) in the nex…

Crude Oil

China's Jan-Feb Daily Crude Oil Throughput Falls to Lowest Since End-2020

China's daily oil processing rate dropped 1.1% in the first two months of 2022 from a year ago, to the lowest since December 2020, as independent refiners scale…

Electric Car

Electric Vehicle Market: Is Lithium the New Oil?

More governments today are working towards creating new legislation and regulations for pollution and emission reduction. This has made electric and hybrid cars…

Oil Field

Bohai Sea Oilfield Output Exceeds 500 Million Tons

The Bohai Sea oilfield, China's largest crude oil base, had produced a cumulative total of oil equivalent exceeding 500 million tons as of Monday, after it has …

LNG

Dutch Limit Gas Production at Groningen Despite Energy Crisis

The Dutch state announced in 2019 that Groningen output would end by October 2022 to limit seismic risks in the region, with gas only to be extracted thereafter…

Crude Oil

Again, Crude Oil Production by OPEC, Allies Falls by 890,000 bpd

Despite the decision of the Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, to raise crude oil production by 340,000 barrels per day…

EU

EU Will Need Five Years to Ditch Russian Energy

Europe plans to phase out its dependency on Russian oil, gas and coal by 2027.

Coal Production

China's Jan-Feb Coal Output Jumps 10.3% for Winter Heating

China’s coal output rose 10.3% in the first two months of 2022 from a year earlier, after Beijing encouraged miners to ramp up production for the winter heatin…

LNG

Japan Eyes LNG Investments to Cut Dependence on Russian Energy

Japan aims to reduce its dependency on Russian energy supply by taking steps.

Crude Oil

India Hopes for Oil from Iran, Venezuela; Higher Output from OPEC+ to Cool Prices

Replying to supplementaries during question hour in the Rajya Sabha, Oil Minister Hardeep Singh Puri said oil export from Venezuela and Iran had been hit due to…

Energy Transition

BP Sees Energy Transition Progress and Challenges

BP released its latest Energy Outlook to 2050 on Monday, which sets out its thinking on how the energy transition will unfold.

EV Market

Higher Petrol Prices Hurt, but Cutting Fuel Excise will Slow Transition to Electric

Australian petrol prices are rising as Russia’s invasion of Ukraine pushes up global oil prices. It’s likely motorists will be paying more than $2.15 a litre …

Wind Farm

140MW Wind Farm Starts Feeding South Africa’s Grid

African independent power producer Red Rocket has announced commercial operations of its first wind farm in South Africa, Roggeveld, now feeding much-needed ele…

SMR

Kärnfull Teams up with GEH for SMR Deployment

Kärnfull Next - a fully-owned subsidiary of Kärnfull Future AB - will collaborate with GE Hitachi Nuclear Energy (GEH) on the deployment of the BWRX-300 in Sw…

Russian Federation

Norway's Equinor Confirms Trading Halt in Russian Oil

Norwegian state oil company Equinor said on Monday it will stop trading in Russian oil as the company shuts down operations in Russia following its invasion of …