The continuous shift in oil trade flows following the EU embargo on Russian exports is a huge win for the crude from Western Europe’s largest oilfield offshore Norway. Norway’s Johan Sverdrup crude is now a top choice for European refineries that used to rely on Russia’s flagship grade, Urals, before …

Brazilian company Petrobras has partnered with Shell and Senai CIMATEC to develop a production development laboratory (LDP) for pre-salt research and development. Being built inside Senai CIMATEC Park in the Petrochemical Camaçari Cluster, the LDP will be equipped to allow testing of integrated systems in safe operating conditions similar to …

Europe will find it very difficult to refill its natural gas stockpiles ahead of next winter, Russian gas giant Gazprom said on Tuesday. Filling the European gas storage to the levels from before the 2022/2023 winter could become “a non-trivial task” for European companies, Gazprom said on its Telegram social …

Amid the misery of war in Ukraine and the global energy crisis, there is a glimmer of good news. The green transition has speeded up. True, a spike in natural-gas prices fuelled greater demand for coal, the dirtiest of fossil fuels. But it also led consumers to use energy more …

Less than a month before general elections that will decide the fate of Turkish President Recep Tayyip Erdogan, the government has announced that a natural gas discovery in the Black Sea will start production and deliveries as soon as April 20, helping the country move towards energy independence. The discovery, …

Equinor Energy and its partners have started production from the Bauge oil and gas field in the southern Norwegian Sea, which has been developed with an investment of NOK4.6bn ($438.2m). Bauge is tied back to the Equinor-operated Njord platform, which went through an upgrading project that was completed in December …

Oil prices moved little in Asian trade on Wednesday as anticipation of a slew of indicators on U.S. monetary policy and the economy kept sentiment tepid, although signs of shrinking U.S. inventories pointed to tighter supplies. Data from the American Petroleum Institute showed that U.S. crude inventories shrank by a …

Turkey is considering petitioning a federal court in the United States to enforce an arbitration award amounting to hundreds of millions of dollars that it won against Iraq, amid a dispute over crude oil exports Ankara received from Iraq’s autonomous northern Kurdish region. Almost nine years after Iraq began suing …

Just as the EV price wars are heating up, Volkswagen has launched its much awaited ID7 sedan. Expected to be priced around $38,000 to $40,000 for the entry level model, the stunning sedan will assuredly be a direct competitor to Tesla’s Model 3. A release by the company on Monday …

U.S. oil and gas giant Chevron is looking to explore for natural gas off the coasts of Cyprus, Egypt, and Israel as the region’s energy demands grow. In a lease tender issued on Monday, the company is seeking a drilling vessel for 2024 with an option to extend its use …