Russian President Vladimir Putin said the proposed “gas hub” in Türkiye is still on the agenda. He noted that Moscow wants to set up an electronic platform for gas sales in Turkey, and they do not want to store gas there. Last year, Putin proposed the idea of creating a …

Global crude oil prices witnessed significant gains, driven by a scarcity of supply following cuts by Saudi Arabia and OPEC countries. Basra crude increases in its last session on Friday, contributing to a bullish trend in the market. The Basra Heavy crude closed at $81.79 per barrel in its last …

National Iranian Drilling Company (NIDC) dug and completed the digging operations of 36 oil and gas wells during the first four months of the current Iranian calendar year (March 21-July 22), an official with the company said. According to Masoud Afshar, the deputy head of NIDC for drilling operations, one …

The secretary of Iran Coal Association has said the country holds 1.5 billion tons of definite coal reserves which is enough to meet the country’s needs for the next 500 years, IRIB reported on Saturday. According to Saeed Samadi, Iran’s total coal reserves are estimated at 14 billion tons of …

Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024 and Saudi …

Kazakhstan and China are looking to boost joint scientific research. Kazakhstan’s science and higher education minister, Sayasat Nurbek, met with top officials of the China-based Center for Technology Transfer of the SCO Member States (SCO CTTC), the ministry’s press service reported July 24. The parties discussed potential partnerships “in the …

The total number of active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 664 this week. So far this year, Baker Hughes has estimated a loss of more than 100 active drilling …

French LNG technology company Technip Energies has withdrawn from the Russian Arctic LNG 2 project. The French Technip Energies has completely left the Arctic LNG 2 liquefied natural gas production project. The project is headed by Novatek, a gas producer registered on the Moscow Stock Exchange. It will be recalled …

Germany’s largest integrated Bio-liquefied natural gas (Bio-LNG) is set to begin production after the successful completion of conversion and assembly work at the BioEnergie Park Güstrow in Mecklenburg-Western Pomerania. The work involved project operator EnviTec Biogas connecting a 300,000-litre liquefied carbon dioxide (LCO2) tank to the plant. The raw biogas …

European natural gas prices rose for a fifth day, the longest streak since April, as outages tighten global supply while heat blankets parts of the region. Benchmark futures advanced as much as 5.2% on Wednesday, signaling that a bullish trend is taking hold after prices slipped in the first half …