Russian oil company Lukoil has said it now has rights to two offshore energy blocks in the Republic of Congo in partnership with Italian oil giant Eni. The rights to the offshore blocks, known as Marine 24 and Marine 31, are now held by Lukoil with a 43% interest, Interfax …

President of the EU Commission Ursula von der Leyen and NATO Secretary General Jens Stoltenberg visited the Troll A natural gas platform in Norway and called for increasing joint efforts for the security of Europe’s energy infrastructure on Friday. Norwegian Prime Minister Jonas Gahr Store, von der Leyen and Stoltenberg …

Oil prices settled lower on Friday, reversing earlier gains to post their biggest weekly declines in months amid turmoil in global financial markets stemming from fears of a banking crisis. Brent, the benchmark for two thirds of the world’s oil, slid 2.32 per cent, or $1.73, to settle at $72.97 …

Shell Offshore Inc, a subsidiary of the UK-headquartered energy giant Shell, has taken a final investment decision (FID) for a deepwater project in the U.S. Gulf of Mexico (GOM), which will be developed as a subsea tie-back to the oil major’s operated Appomattox production hub. While announcing the FID for …

Shell plc has published its Energy Transition Progress Report 2022, which shows it has again met its climate targets as part of its energy transition strategy. The report will be put to shareholders for an advisory vote at Shell’s Annual General Meeting on May 23, 2023. “In this report, we …

The European Commission (EC) has outlined plans for how the EU will compete in the development of new technologies necessary for the green transition against the US and China. The Critical Raw Minerals Act, proposed by the European Commission on Thursday, seeks to reduce the EU’s dependence on raw minerals …

Iraqi oil expert Hamza al-Jawahiri on Thursday said the West has started a “war” on oil prices, warning that the assumed price of oil in Iraq’s 2023 budget is disappointing. Al-Jawahiri’s comments came as the price of oil dropped to record lows following the collapse of some banks in America …

OPEC+ will likely wait for financial markets to calm before deciding whether it needs to react to oil’s rout by cutting production, according to consultancy Energy Aspects Ltd. “It would be premature for OPEC+ to take action without first understanding what the risks are,” EA analysts, including co-founder Amrita Sen, …

Australia is to become the seventh country in the world to introduce nuclear-powered submarines to its naval fleet, as part of a newly brokered deal between the United States, the United Kingdom and Australia (AUKUS), reports Statista. The US has said it will sell Australia three US Virginia-class nuclear-powered submarines …

Tehran and Riyadh have exchanged views regarding OPEC and OPEC+ policies to ensure stability in the world oil markets, Iran’s oil minister said. “All decisions concerning global oil markets over the last few months have been made by pooling minds with OPEC’s de facto leader and closer collaborations are on …