Japan’s biggest oil refiner Eneos Holdings Inc has no plans to buy Russian crude until all problems related to the Ukraine crisis are over and will purchase alternative supplies from the Middle East, its chairman said on Wednesday. “For now, we intend to get alternatives from existing trading partners such …

Iran said it needs tens of billions of dollars of investment in its natural gas sector, underscoring how it would struggle to ramp up production even if the U.S. lifts sanctions. Iran holds the world’s biggest proven gas reserves after Russia. But it may be forced to import the fuel …

China imported 321,380 tonnes of liquefied natural gas from Russia in March, steady from the same month last year, despite a steep fall in the country’s total imports of the fuel due to high spot prices, according to Chinese customs data. China imported nearly 400,000 tonnes from Russia in February, …

Shell has started to withdraw staff from its joint ventures with Russia’s Gazprom as it moves forward with plans to exit investments in response to the war in Ukraine. Dozens of Shell employees on temporary assignment at the Sakhalin-2 liquefied natural gas export project in Russia were removed over the …

Coal output in China increased by 15% year-on-year in March, with daily production reaching record levels, thanks to Beijing’s calls for a steady market supply, reports Reuters. China churned out 395.79 million tonnes of coal last month, data from the National Bureau of Statistics (NBS) showed on Monday, equivalent to …

Seaborne flows of Russian crude oil declined by a quarter in the seven days to April 15. Volumes heading to Asia from ports on the Black Sea, Baltic and Arctic coasts plunged to the lowest in two months. A total of 30 tankers loaded about 21.8 million barrels from Russian …

U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling Productivity Report published on Monday. It would be the largest monthly production increase since March 2020, according to EIA data. …

Soaring prices of liquefied natural gas (LNG) and coal on the international markets have left Pakistan, the world’s fifth-most populous nation, with having to cut electricity supply to households and industry as the country in a deep political and economic crisis cannot afford to buy more of the expensive fossil …

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed this weekend their countries’ cooperation in the OPEC+ oil production pact in their second telephone call since Russia’s invasion of Ukraine. Russia is a key partner to OPEC’s largest producer and de facto leader, Saudi Arabia, in the …

Arab economies are expected to grow by 5% in 2022, supported by the increase in oil production and its prices in international markets and the continuation of stimulus packages to support economic recovery, said the Arab Monetary Fund (AMF) in a new report. In 2023, the growth of Arab countries …