The total number of active drilling rigs in the United States fell by 7 this week, after falling 11 last week to a low not seen since February 2022, according to new data from Baker Hughes published Friday. The total rig count fell to 623 this week. So far this …

Saudi Aramco on Thursday announced its first global investment in liquefied natural gas, part of a broader bid by the energy giant to expand beyond oil. The company seen as the jewel of the Saudi economy said it would acquire a minority stake worth $500 million in MidOcean Energy, which …

Cheaper Russian crude compared to Middle Eastern alternatives has prompted Indian refiners to import more crude from Russia in September compared to a seven-month low in August, according to preliminary tanker-tracking data. India’s crude oil imports from Russia rebounded amid tighter market and more expensive crude from the Middle East, …

The French government will significantly increase public spending on green energy projects while curbing the support to households to help them with the high energy prices, according to the 2024 budget. Budget 2024 will be “the greenest in our history,” France’s Finance Minister Bruno Le Maire said on Wednesday, announcing …

In an otherwise down market staring at a slow recovery in 2023, only India stands apart from the rest of the world in terms of aluminum production and consumption. Indeed, the government’s push for new infrastructure, especially for green energy, continues to drive domestic consumption and overall stability for aluminum …

The EIA reports that delays at the Panama Canal because of low water levels are causing very large gas carrier (VLGC) rates to reach record highs, increasing the cost of shipping LPG. The Panama Canal is a major energy transit point, and water levels at its crucial Gatún Lake were …

Equinor, an oil and gas company, has signed long-term gas supply deal with Austrian energy company OMV. Starting 1 October 2023, the five-year agreement will see Norway’s Equinor supply 12 terawatt-hour (TWh) of gas annually. Equinor said it will deliver the gas at the Trading Hub Europe in Germany. The …

Saudi Arabia has signed a deal with Greece for the establishment of a jointly-owned company to link up the two countries’ power grids with the goal of supplying Europe with clean energy, Reuters reports. The new company, Saudi Greek Interconnection, joins Greece’s IPTO and Saudi Arabia’s National Grid, each with …

Wood Mackenzie has released a new energy storage market report, with a new record high for US installations for the second quarter of 2023. The United States deployed 1,680 MW/5,597 MWh of energy storage nationwide, leading to an average duration of 3.3 hours. However, second-quarter installations were significantly lower than …

Egypt immediately awarded four blocks of an oil and gas exploration bid round in the Mediterranean and Nile Delta to Italy’s Eni, the UK’s BP, QatarEnergy and Russia’s Zarubezhneft, the Egyptian Petroleum Ministry announced on Tuesday. Eni will take two of the blocks and a third in a coalition with …