The transportation of Kazakh oil through Azerbaijan will begin this year, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vasilenko said at a briefing, Trend reports via Kazakh media. “The transportation of Kazakh oil through in the direction of Aktau – Baku will start in 2023,” he said. The deputy …
Read More »PetroChina Completes Drilling Asia’s Deepest Horizontal Well in NW China
PetroChina announced on Friday that it has completed drilling a well at a depth of 9,396 meters in Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, making it the deepest horizontal well in Asia. It marks the Tarim Oilfield entering a new phase of oil and gas exploration at a …
Read More »Russia Uses Ship-to-Ship Transfers to Boost Diesel Exports to Saudi Arabia
Russia is accelerating its exports of diesel to Saudi Arabia by both direct shipments and ship-to-ship transfers, Reuters reported on Friday, quoting trade sources and shipping data from Refinitiv. Using STS loadings, Russia is shortening the routes for tankers headed to Africa and Asia after Moscow is now banned from …
Read More »Latin America on Track to Become Renewable Energy Giant
Latin America is set to become a global leader in renewable energy development by the end of the decade as a slew of major solar and wind projects come online, according to independent think tank Global Energy Monitor (GEM). But the region must overcome environmental, economic and social obstacles to …
Read More »Iran Signs New Oil Contracts, MoUs with Chinese Companies
Iran’s Oil Minister announced that Iran has reached new oil and gas agreements with Chinese companies. Javad Owji made the remarks on the sidelines of the opening ceremony of the 16-inch Torbat-e- Jam transmission line project in the Khorasan Razavi province in the northeast adding that “We have defined various …
Read More »Iran’s 9-Month GDP Growth Stands at 3.3%: SCI
Iran’s gross domestic product (GDP) including oil grew 3.3 percent in the first nine months of the current Iranian calendar year (March 21 – December 21, 2022) compared to the same period last year, according to the Statistical Center of Iran (SCI). Based on the SCI data, the figure excluding …
Read More »Irish CEO of BP’s Pay Doubled to €11.3m in 2022 after Record Profit
BP chief executive Bernard Looney’s pay more than doubled to £10 million (€11.3 million) last year after the UK-listed energy major delivered a record $28 billion (€26.4 billion) in profits. The payout follows a tumultuous year in energy markets driven by Russia’s invasion of Ukraine that led to historic earnings …
Read More »Europe Set to Raise LNG Imports as Regasification Capacity Jumps
The EU is boosting its LNG import capacity and is ready to welcome even more LNG cargoes this year and in the coming years, Maros Sefcovic, European Commission Vice President for Interinstitutional Relations and Foresight, said on Thursday. The EU will soon have 35 LNG regasification terminals, up from 27 …
Read More »Libya Eyes First Oil and Gas Licensing Round in Two Decades
Libya will be ready to hold an oil and gas licensing round next year, Libya’s state-run oil company chief said at CERAWeek, according to Argus. If Libya does manage to hold a licensing round next year, it would be its first in nearly two decades, and would help Libya reach …
Read More »EU Strikes Deal to Curb Energy Use by 2030
The European Union struck a deal on Friday to cut final energy consumption across the bloc by 11.7 pct. by 2030. Lawmakers believe the goal would help fight climate change and curb Europe’s use of Russian fossil fuels. Hitting the targets will require countries to renovate millions of drafty buildings …
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