French firm TotalEnergies has signed a contract to begin drilling and exploring for gas this year in waters off crisis-hit Lebanon, the company said in a statement. “TotalEnergies in agreement with its partners Eni and QatarEnergy has signed a firm contract with Transocean to hire the drilling rig that will …

Gas production in Russia decreased by 10% to 180 billion cubic meters this year mostly from Gazprom’s declining capacities, the Kommersant business daily reported Wednesday, citing an unnamed source familiar with the data. State-owned gas giant Gazprom has classified its production statistics since the start of 2023. Kommersant’s source said …

Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with …

The biggest developing economies and largest coal consumers, India and China, are seeking a G20 pledge that would leave countries to decide on “multiple energy pathways” to reduce emissions instead of setting a firm deadline for phasing out the use of fossil fuels, Indian government officials have told Reuters. India, …

Turkey’s President Recep Tayyip Erdoğan has announced a fresh discovery of a new oil reserve in the country’s eastern region. “I’d like to share some fresh good news. We have discovered oil reserves with a production capacity of 100,000 barrels per day in Cudi and Gabar,” the president said on …

Saudi Arabian Oil Group, Saudi Aramco has emerged as the second largest company in the world after displacing Microsoft. After displacing Microsoft to become the second largest company in the world, it only has to displace Apple to become the largest company in the world. According to reports, Aramco’s current …

A new report by the Center for Research on Energy and Clean Air (CREA) has found that European countries that banned Russian oil imports are instead importing huge amounts of oil commodities from India, China, United Arab Emirates, Singapore and Turkey, therefore qualifying them as laundromats. The report, titled Laundromat: …

News last week from Iraq Oil Ministry sources that the first stage of a gas processing facility at the Halfaya oil field is now expected to come online ahead by early 2024, ahead of schedule, is crucial for the country’s future in three respects. First, it will go some way …

Exports of natural gas from Libya to Europe are expected to be significantly lower this month compared to normal levels, due to a three-week maintenance program at the Mellitah Industrial Complex in the North African oil and gas producer. The Mellitah Industrial Complex will begin a total shutdown to start …

Oil prices kept to a tight range in early Asian trade on Tuesday as markets hunkered down before a widely expected Federal Reserve interest rate hike and more cues on U.S. monetary policy due later in the week. Crude markets saw increased volatility before the conclusion of a two-day Fed …