Novatek, Russia’s largest producer of liquefied natural gas (LNG), will start loading first cargo from the Arctic LNG 2 plant no earlier than March, Russia’s Kommersant daily reported on Thursday, citing anonymous sources. Russian Deputy Prime Minister Alexander Novak has earlier said the first shipment would happen in February, but, …

Oil supermajors returned more cash to shareholders than ever before last year as management teams reined in spending on new projects to free up cash for dividends and buybacks. There may be more to come. Exxon Mobil, Chevron, Shell, TotalEnergies and BP spent $113.8 billion on 2023 dividends and share …

Oil extended gains on Thursday after Israel rejected a ceasefire offer from Hamas, while a weaker dollar also supported prices. Brent crude futures rose 30 cents, or 0.4%, at $79.51 a barrel at 0400 GMT. U.S. West Texas Intermediate crude futures climbed 26 cents, or 0.4% to $74.12 a barrel. …

India’s role in global oil markets will likely expand substantially over the remainder of the decade, fueled by strong growth in its economy, population and demographics — making the country the largest source of demand growth, the International Energy Agency said in a report Feb. 7. n the report titled …

Iran is ready to continue bilateral talks with Kuwait over the Arash (Durra) offshore gas field, according to Foreign Ministry Spokesman Nasser Kanani. “Iran has repeatedly declared, that the Islamic Republic is ready to continue bilateral negotiations with Kuwait in line with the results of the previous talks over exploiting …

The global oil market will require an investment of $14 trillion by 2045 to meet the rising energy demand of the world, said Haitham al-Ghais, Secretary General of the Organisation of Petroleum Exporting Countries on Tuesday. “The demand for oil will continue to rise and there is a need to …

Germany will tender 10 gigawatts (GW) of new natural gas-fired capacity from power plants that could be converted to hydrogen in the 2030s, as part of plans to ensure stable electricity supply as wind and solar power generation and installations grow. The plan for Germany’s power plants is in its …

Russian natural gas producer Novatek is building a new China-based team to explore marketing the fuel, sources familiar with the plans said, as U.S. sanctions thwart plans for exports from its new multi-billion dollar Arctic project. The move illustrates Russian energy companies’ continued pivot to Asia, especially China, after the …

QatarEnergy inked a 20-year deal with India’s Petronet for the supply of 7.5 million tons per annum (mtpa) of LNG to India, the Qatari company announced on Tuesday. As part of the deal, starting May 2028, QatarEnergy’s vast LNG fleet will deliver the contracted LNG volumes to Indian terminals, the …

In 1943 President Franklin Roosevelt declared that “the defense of Saudi Arabia is vital to the defense of the United States.” The reason: Ten years earlier the desert kingdom had granted a concession to Standard Oil of California to explore for oil. It turned out there was some, in fact, …