OPEC+ compliance with oil production cuts rose to 129% in January, a source from the producer group told Reuters, indicating that some members continue to struggle to raise their output. The January figure compares with 122% in December, and 117% in November. Compliance from members of the Organization of the …

China National Offshore Oil Corporation (CNOOC), the leading liquefied natural gas (LNG) player in China, announced Sunday that it had completed concrete casting for the foundations of six world’s largest LNG storage tanks in Yancheng City of east China’s Jiangsu Province. The six storage tanks of 270,000 cubic meters, the …

China saw strong exports in photovoltaic products (PV) last year as the world picked up efforts to cope with climate challenges. In 2021, the country’s PV exports surpassed $28.4 billion, growing about 60 percent from $18.23 billion a year before, the Ministry of Industry and Information Technology said. With a …

In order to accompany Iranian President Seyyed Ebrahim Raeisi to Qatari capital Doha slated on Monday, Iranian Oil Minister Javad Owji left Tehran for Doha to attend 6th Gas Exporting Countries Forum (GECF) on Sunday morning. According to the scheduled program, Iranian President Seyyed Ebrahim Raeisi and high-ranking delegation will …

German Chancellor Olaf Scholz has told CNBC that the West has to work “very hard” to find alternative sources of energy beyond Russia as talks of potential sanctions intensify. Speaking to CNBC’s Hadley Gamble at the annual Munich Security Conference, Scholz stressed that much of the West is reliant upon …

Geopolitical tension in Eurasia has ruffled financial markets in recent weeks and contributed to the almost 20 per cent increase in oil prices since the start of 2022. In addition, oil markets are expected to remain relatively tight in the first quarter of this year, as supply is only gradually …

South Korea is thinking seriously about sharing its liquefied natural gas (LNG) inventories with Europe amid looming supply disruptions sparked by the Ukraine crisis, officials said Sunday. “The government is seriously contemplating supporting Europe should the situation aggravate in Ukraine and create difficulties in the supply of natural gas,” a …

As many as 35 major cyberattacks on energy and oil infrastructure have taken place since 2017, making up one-third of all cyberattack incidents of the past five years, data from the S&P Global Platts Oil Security Sentinel research project showed on Friday. Since 2017, the U.S. has been the most …

Sources close to the Organization of Petroleum Exporting Countries (OPEC) have told Reuters that OPEC+ is expected to persuade Iran to join the group’s cut deal if the U.S. sanctions are lifted from the country’s oil industry. A successful outcome to the Vienna nuclear talks could lift U.S. sanctions on …

The U.S. added seven rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on December 10. The additions comprised six land rigs and one offshore rig, Baker Hughes’ count showed. They take the country’s total rig count up to 576, comprising 560 land rigs, …