The Philippines is counting on the U.S. and its allies to play a crucial role in its plans to explore energy resources in the disputed South China Sea, according to Manila’s envoy to Washington. The country is seeking to parlay its deepening security ties with Washington into broader economic benefits, …

Saudi Aramco 2223.SE Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing. State-owned Aramco has been ramping up its China presence in a string of deals in refining and petrochemicals, some …

The head of UK supermajor BP paid chief executive Murray Auchincloss £8m for 2023 on the back of a better-than-expected year. Figures published by the oil supermajor today showed Auchincloss’s base pay for the year was £1.6m with a variable performance-based top-up of £6.5m. Auchincloss served as the firm’s chief …

Equinor has put into operation a 531-megawatt solar plant in Brazil, which boosts its power production in the South American country by 30%, the Norwegian major said on Friday. The 531-MW Mendubim solar plant will produce 1.2 terawatts per hour (TWh) of power annually, of which some 60% will be …

The OPEC+ group’s combined crude oil production in February was little changed from January and still above the overall output quota that OPEC and its allies pledged when they announced extra voluntary supply reductions, according to the latest Platts survey by S&P Global Commodity Insights. The survey showed total OPEC+ …

With Turkmenistan and its gas export dreams, intentions are strong, but implementation is faltering. On March 1, Turkmen National Leader Gurbanguly Berdymukhamedov, the father of the president, traveled to Turkey to attend the Antalya Diplomatic Forum. During the visit, he met with Turkish President Recep Tayyip Erdogan — an encounter …

Global oil demand looks robust in a balanced market this year, Shaikh Nawaf Al-Sabah, chief executive of Kuwait’s state oil firm Kuwait Petroleum Corporation (KPC), told Bloomberg in an interview published on Thursday. “From my perspective I think it remains a healthy market on the demand side,” the executive said, …

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais announced, on Wednesday, that the organization is expected to secure a larger share of India’s oil imports in the coming decades due to its proximity. This comes after OPEC’s recent diminished dominance, attributed to competition from discounted …

Iranian President Ebrahim Raeisi says that Tehran has proven that it is not looking for a nuclear weapon and is only using nuclear energy for peaceful purposes. The Iranian President made the remarks in an interview for an Algerian TV network during his recent visit to Algiers. Having access to …

Saudi Arabia raised the official selling prices of its crude for Asian buyers following the extension of the OPEC+ production cut agreement until the end of the first half of the year. The price for the country’s flagship Arab Light grade was raised by $0.20 per barrel over the Oman/Dubai …