Europe’s natural gas market will tighten again in 2023 as stockpiles will have to be replenished over the summer without the usual Russian supply, according to TotalEnergies SE CEO Patrick Pouyanne. “Europe will get less Russian gas than in 2022 and will have to again massively re-import LNG,” Pouyanne told …

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in …

Oil prices settled lower on Friday, making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected U.S. economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures settled down 81 cents, or 0.9%, at $86.66 …

The 13th Specialized Exhibition of Khuzestan Manufacturing Oil Industry Equipment is scheduled to be held in the southwestern city of Ahvaz (the capital city of Khuzestan) during February 6-9, Shana reported. The slogan of the current year’s exhibition is “A strong Iran; knowledge-based oil Industry and completion of the value …

Libya’s state energy firm said it expects to sign more deals with foreign companies after Eni SpA agreed to invest $8 billion to extract natural gas in the North African country. Libya’s abundance of oil and gas reserves — among the largest in Africa — and its proximity to Europe …

Equinor and bp jointly bid into New York’s third offshore wind solicitation (NY3) today. Equinor and bp’s bid, submitted to the New York State Energy Research and Development Authority in response to the state’s most recent offshore wind energy solicitation, would provide New York with renewable energy from the Beacon …

Italian oil and gas major Eni and Algeria’s Sonatrach have signed strategic agreements to accelerate emissions reduction and strengthen energy security. Eni said that, through the agreements, the two companies would identify opportunities for the reduction of greenhouse gas and methane gas emissions. They will also define energy efficiency initiatives, …

Speaking to ILNA, Mohammad Eslami said that the JCPOA is a deal and a trade-off but our relations with the IAEA are based on the safeguards. Commenting on Rafael Grossi’s recent remarks that there is no shell left from the JCPOA, the official said that the relations of Iran with …

Officials from Pacific island nations will meet Japan’s prime minister in March in an effort to halt the planned release of water from the tsunami-damaged Fukushima Daiichi nuclear plant into the Pacific Ocean, a regional leader said. Plans to dispose of Fukushima water over four decades are a source of …

The oil “price cap” of $60 per barrel for Russian oil is a controversial move by the European Union and G7. The price cap prohibits Western insurers and shipping companies, which account for more than 90 percent of the marine insurance industry, from servicing vessels that carry Russian oil above …