BP Plc and Abu Dhabi National Oil Co. will form a natural gas joint venture and have made an offer to take Israel’s NewMed Energy private in a deal worth around $2 billion. The move will deepen BP’s presence in the eastern Mediterranean and mark ADNOC’s first venture into the …

The U.S. surpassed Russia as the top oil supplier to Europe at the end of last year as sanctions targeting Russia’s energy sector took hold. In December 2022, the U.S. exported nearly 34.5 million barrels of oil to the European Union, accounting for about 18% of the EU’s total imports, …

The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023 as it navigates a fragile recovery in global oil …

The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions. The bloc’s energy ministers on Tuesday endorsed a proposal that would allow member governments to temporarily prevent Russian exporters from booking the …

Iraq’s oil ministry welcomed an arbitration ruling in its long-running dispute with Turkey centered on crude oil exports from the semi-autonomous Kurdish region and said it would discuss “mechanisms” to keep oil flowing. The International Chamber of Commerce’s International Court of Arbitration decided in Iraq’s favor on March 23, Iraq …

China’s growing energy needs on the back of a post-COVID economic recovery has put the spotlight on coal, but whether it will come from higher imports or a more aggressive domestic production remains debatable. While some analysts believe that rising domestic output will be sufficient to cater to the coal …

The managing director of National Iranian Oil Company (NIOC) emphasized the efforts of this company to realize the slogan of this Iranian calendar year (began on March 21) and said during the activity of the Ministry of Oil in the 13th government, increasing production in the oil and gas sector …

India is reportedly considering the creation of a strategic reserve of liquefied natural gas (LNG) to protect against potential supply shortages or price spikes in the future, following the country’s energy crisis last year, according to a senior executive at India’s leading LNG importer. The government has “proposed we should …

European natural gas prices rose after a second straight weekly decline, as another spell of colder weather passes through the region. Temperatures across the continent are forecast to drop again this week. Together with some project maintenance in Norway in the coming days, there could be an upside for near-term …

Moscow may seek compensation over damage from last year’s explosions on the Nord Stream gas pipelines, news agency RIA Novosti reported on Monday, citing a Russian diplomat, who also said that the future of the projects was unknown. The pipelines, which connect Russia and Germany under the Baltic Sea, were …