Oman could turn into one of the biggest hydrogen suppliers in the world, the International Energy Agency has forecast in a recent report. The tiny Gulf sultanate currently generates some 60% of its export earnings from oil and gas but has set itself ambitious net-zero targets that would involve leveraging …

One of the world’s largest oil and gas companies—and a favorite target of climate activists and activist investors—is making something of a U-turn on its plans for the future. Shell, which was sued into cutting its oil output, is going back to oil and gas in a big way, and …

A “transparent and objective” international investigation into the blasts at the Nord Stream natural gas pipelines is needed, a high-ranking Russian diplomat to the United States said early on Wednesday (14 June). Commenting on reports that the US reportedly warned Ukraine not to attack the pipelines under the Baltic Sea, …

Siemens will spend €2 billion (US$2.16 billion) on a new global investment plan, the German engineering and technology group said on Thursday (Jun 15), as it gears up to meet increased demand triggered by global stimulus packages. Siemens will build new factories, research and development centres and training sites around …

Global oil production in 2023 will reach a record figure of 101.3 mln barrels per day (bpd) and in 2024 will grow to 102.3 mln bpd, according to the report of the International Energy Agency (IEA). The United States will continue to dominate non-OPEC+ countries in terms of production growth. …

Sanctions on Russian oil by Western countries have failed to make any dent in its oil exports. The country’s oil export revenues increased by $1.7 billion to $15 billion in April 2023, as per the monthly report released by the International Energy Agency (IEA). The growth is due to higher …

Crude oil prices climbed early on Tuesday morning after ending trade on Monday with yet another loss, driven by demand concern. As the latest Fed meeting begins today, however, eyes will be on the U.S., with most analysts expecting the central bank to announce a pause for rate hikes. That …

Iraq produced 3.955 million barrels per day (bpd) of crude oil in May, up 17,000 bpd from April, a source at state-owned marketer SOMO told Reuters on Tuesday. The May production, according to SOMO, was 265,000 bpd below Iraq’s OPEC+ quota when including pledged additional voluntary cuts. Iraq’s production has …

With the expansion capacity of the Trans-Anatolian Natural Gas Pipeline (TANAP) Project, Azerbaijan will correspondingly increase its gas exports to Turkey to 10.2 billion cubic meters (bcm) per year, Azerbaijan’s Ambassador to Türkiye, Rashad Mammadov, told Anadolu Agency in an exclusive interview. According to the Natural Gas Market 2022 Sector …

As governments and private firms worldwide invest heavily in research and development into alternative clean energy sources, geothermal energy is attracting greater attention. Although still highly underdeveloped, the potential for new geothermal operations is significant, with countries across Europe converting old fossil fuel projects into geothermal energy sites and using …