Russia plans to greatly reduce the export of crude oil and oil products to Europe and reroute the saved amount to Asia, Russian Deputy Prime Minister Alexander Novak said on Thursday. Russia exported around 40 [Read More]
Crude oil futures prices dropped over 2 percent on Tuesday as concern over recession and demand returned to the market. The West Texas Intermediate (WTI) for June delivery fell 1.69 U.S. dollars, or 2.15 percent, [Read More]
Türkiye on Thursday started the delivery of natural gas from its Black Sea field, as part of its flagship project aiming at reducing the country’s dependence on energy imports. The gas, shipped from a depth [Read More]
Daqing Oilfield, China’s largest onshore oilfield, has produced 300 million tonnes of crude oil via the tertiary oil recovery technology, according to Daqing Oilfield, a subsidiary of China National Petroleum Corporation. So far, the annual [Read More]
Iraq will voluntarily cut oil production by 211,000 barrels per day (bpd) from May until the end of this year, the country’s oil ministry says. The move is a “precautionary measure” taken in coordination with [Read More]
State-owned Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) has moved to set up three more liquefied natural gas (LNG) terminals in addition to the existing two currently being operated to regasify imported gas. The proposed [Read More]
Oil prices rose on Monday, reclaiming some of the massive losses they had suffered in the previous week. The West Texas Intermediate for April delivery increased 90 cents, or 1.35 percent, to settle at 67.64 [Read More]
Saudi Arabian Oil Company (Saudi Aramco) has announced a record net income of 161.1 billion U.S. dollars for 2022, its highest annual profit as a listed company, the Saudi Press Agency (SPA) reported. In 2022, [Read More]
Iraq exported about 92.25 million barrels of crude oil in February, generating 7.08 billion U.S. dollars in revenue, the country’s oil ministry announced Wednesday. The average price for Iraqi crude oil in the month was [Read More]
For an average household, the quarterly energy price cap in the United Kingdom (UK) will fall to 3,280 pounds (3,949 U.S. dollars) per year from April to June, the country’s energy regulator said on Monday. [Read More]
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