Despite high international crude and POL prices, the country has imported record-high oil products and crude, both in volume and money terms, on the back of rising U.S dollar strength against the rupee and the government’s decision to raise local POL prices to revive stalled IMF’s program. Having a record …

French-headquartered energy giant TotalEnergies has completed all the required steps to pull out of Myanmar while Thailand’s PTTEP has taken over the operatorship helm at the Yadana offshore gas field. Back in January 2021, TotalEnergies announced its decision to withdraw from its operations in Myanmar, specifically the Yadana field and …

Saudi Arabia has limited additional crude oil production capacity, Wall Street Journal sources revealed on Wednesday. The sources, who are said to be familiar with Saudi Arabia’s oil production capabilities, were not named. The mystery surrounding Saudi Arabia’s crude production capabilities has grown in recent weeks amid a tight oil …

For the first time in six years, the European Union (EU) has overtaken Asia as the biggest buyer of US crude oil, Bloomberg reported. The EU imported 213.1 million barrels US crude over the first five months of the year, while Asia imported 191.1 million barrels, new US Census Bureau …

An Australian advert hyped up the future of “renewable gas” this month in a bid to start raising public knowledge of new green energy projects that could eventually change our home energy use. Automakers and many energy majors have already set their sights on green hydrogen, but there is little …

China became the world’s largest importer of liquefied natural gas last year. But in a completely different energy market this year, China will likely cede the title to Japan, as Chinese imports of LNG are set for the largest-ever annual plunge since China started importing the super-chilled fuel in 2006. …

Russia started sending gas through it’s biggest pipeline to Europe after a 10-day maintenance period, according to Nord Stream AG. Flows restarted on Thursday, a spokesperson for the pipeline operator said by phone. Restoring flows to the levels requested will take some time. Gazprom PJSC declined to comment. The resumption …

Oil prices fell over $2 a barrel on Wednesday before recouping some losses, under pressure from global central bank efforts to limit inflation and ahead of an expected buildup in U.S. crude inventories as fuel demand weakens. Brent crude prices for September were down $1.81, or 1.69%, at $105.54 a …

The European Union (EU) is considering a voluntary 15% cut in natural gas use by its member states beginning next month on concerns that Russia may halt supplies of the fuel, Bloomberg reported on Tuesday, citing EU diplomats, Reuters reported. Brussels is expected to publish plans on Wednesday for how …

Tehran and Ankara agreed to start negotiations on a new gas exports agreement which would allow an increased supply of natural gas from Iran to Turkey for a period of 25 years starting in 2026. Talks on a new Iran-Turkey gas supply deal had started based on agreements reached between …