Turkey has dispatched its seismic research vessel Oruc Reis to Somalia following the oil and gas cooperation deal signed early this year. This is the first intercontinental mission for the vessel since it was commissioned in 2017, significantly expanding Turkey’s exploration capabilities. In a ceremony to send off the vessel …

The Japanese government announced a decision Sunday to expand a Japan-South Korea cooperation framework aimed at reducing emissions of methane from natural gas development projects. Twenty-two Japanese companies, including Kansai Electric Power, Tokyo Gas and trader Mitsubishi, will newly join the framework, according to the government. The government made the …

The International Energy Agency (IEA) warned that rising global gas consumption and geopolitical tensions may complicate supply as countries approach winter, the German news agency dpa reported. According to the agency’s latest report, industrial demand, particularly from Asia, is driving a significant increase in gas usage. The agency projected global …

Libya is focusing on developing its renewable energy potential, particularly solar and wind power, to reduce its dependence on oil and enhance energy security. The country’s renewable energy efforts are supported by international partnerships with organizations like the EU, UNDP, and countries like Italy. Despite facing political challenges and a …

Italian energy company Eni is in talks with Japan on supplying the country with liquefied natural gas (LNG), Cristian Signoretto, Eni’s director for global gas and LNG portfolio, told reporters on the sidelines of a conference on Sunday. “We already deal with Japanese buyers on a short-term basis and we …

The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had dropped during the past week. “In a span of a week, the US imports of crude oil from 10 major countries amounted to 5.744 million bpd, up by 343,000 bpd from the previous …

Europe has experienced negative energy prices several times this year, as the rapid pace of development of solar and wind energy outpaces the region’s ability to cope with excess supply. Electricity prices dropped into negative figures for 7,841 hours during the first eight months of 2024, sometimes to as much …

After facing huge hurdles in oil and gas production, Libya is now striving to develop its renewable energy capacity and diversify its energy mix to establish greater energy security. Over the last decade, Libya has worked hard to get its oil industry back on track in the face of major …

Exxon has warned that its third-quarter earnings would likely be affected by lower oil prices, with the impact in the range of $600 million to $1 billion. In an SEC filing, the supermajor also estimated the effect of lower refining margins on its third-quarter earnings at up to $1 billion. …

Crude oil prices were set to end the week with substantial gains pushed higher by the latest events in the Middle East. Both Brent crude and West Texas Intermediate were about 8% higher on Friday morning in Asian trade than they were at the start of the week. The jump …