Equinor is exiting Azerbaijan by selling all its oil and gas assets there to Azeri state energy firm SOCAR, the Norwegian major said on Friday. For an undisclosed sum, Equinor will divest all its assets in Azerbaijan, which include a 7.27% non-operated interest in the huge Azeri Chirag Gunashli (ACG) …

Russia is planning to scale back oil exports from its sea ports next month by between 100,000 and 200,000 barrels per day compared to December levels, according to industry sources familiar with Russia’s export plans. The reason for the scaleback, the anonymous sources told Reuters, is increased throughput at its …

Several cargoes of LNG loaded in recent days at U.S. export facilities and bound for Asia have changed course shortly after departing to avoid crossing the Red Sea, which has become theater of daily attacks on commercial vessels by the Iran-aligned Houthis from Yemen. Several vessels have indicated they would …

Crude oil prices were trading slightly down on Friday afternoon, just hours before the weekend and the Christmas holiday, reasonably unaffected by Angola’s decision to quit OPEC. The price of a barrel of WTI was trading at $74.03, $0.07 down on the day, or a 0.09% dip. Last year, the …

The head of Ilam Customs reported that more than two million tons of goods, valued at over $1.169 billion, were exported from Mehran Border Crossing in the first eight months of the current Iranian calendar year. Miragha Abdi conveyed in an interview with Mehr News Agency that over 500 truck …

Potential contract cancellations for the construction of ice-class LNG carriers and U.S. sanctions on the latest Russian LNG export project could hamper Russia’s plans to boost LNG sales now that its pipeline route to Europe is largely cut off. There aren’t enough ice-class LNG tankers built to carry LNG from …

China’s natural gas consumption hit an all-time high this weekend amid a cold wave that froze parts of the country. One of the biggest gas importers in the world, China must have felt its dependency on external supply particularly acutely this weekend. But it is working to change things, boosting …

It’s getting cheaper — at least for now — to rent a liquefied natural gas tanker, despite turmoil in the Red Sea that is forcing some vessels to take longer and more costly routes. The slump in LNG shipping rates started in late November but accelerated this week, with prices …

China could see its oil production growth taper off in the coming years as the recent new discoveries could prove challenging to develop while output at mature fields declines, according to analysts and forecasters. Since 2019, China has boosted its crude oil production every year, by around 2% per year, …

Nearly five million barrels of Sokol grade crude oil from Russia is languishing en route to Indian refiners, caught in a sanctions trap for a month, Bloomberg News reported on Wednesday. According to Bloomberg, citing tanker tracker data, one tanker, the NS Century, remains stuck near Sri Lanka due to …