Natural gas demand among European industries has dropped by the most since the early days of the pandemic, with soaring prices prompting widespread output cuts and factory shutdowns. Fourth-quarter industrial gas use in northern Europe fell by almost 5% from a year earlier, the biggest decline since the second quarter …

Russia will become one of the world’s three largest producers of liquefied natural gas (LNG) in terms of output in five to eight years, a senior consultant with Russian independent energy advisor VYGON Consulting, Ekaterina Kolbikova, has told Sputnik. “In [a period from] 2027-2030, Russia will become one of the …

Equinor has discovered oil in the Toppand prospect in the Troll/Fram area of the Norwegian North Sea. The semisubmersible West Hercules drilled wells 35/10-7 S and 35/10-7 A 8 km (5 mi) west of the Fram field in 354 m (1,161 ft) water depth. Well 35/10-7 S encountered 75-m (246-ft) …

If you’ve unlocked some recent International Energy Agency (IEA) data for a few thousand dollars, it could be the last time you are required to do so. The IEA is suggesting that it could make all its data and analyses free and available to all, Quantum Commodity Intelligence reported on …

Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19 cases which spooked markets in late 2021. Brent crude futures, which traded close to $83 per barrel earlier on Friday, …

ExxonMobil announced that it has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well, which was drilled in 6,030 feet of water, is said to have encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. Lau Lau-1, which was drilled in …

The United States became the world’s largest exporter of liquefied natural gas in December as deliveries of the superchilled fuel to energy-starved Europe surged. According to Bloomberg calculations, the U.S. dethroned Qatar as the top LNG exporter in the world after a substantial jump in LNG production from Cheniere Energy’s …

The hunt for natural gas is spreading to Asia’s developing economies, with India and Indonesia adding to the global demand pressure. Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders. Indonesia …

Explaining the 24th OPEC Plus Ministerial Meeting, the Iranian oil minister stated that the member countries are ready to take responsibility for the fast and reliable supply of oil whenever the market and consumers need it. After the end of the 24th OPEC and non-OPEC Ministerial Meeting on Tuesday, Javad …

The Organization of the Petroleum Exporting Countries (OPEC) has appointed Haitham Al-Ghais of Kuwait as its Secretary General with effect from August 1, 2022, for a period of three years. The decision was taken as a special conference of OPEC under the chairmanship of its President, Bruno Jean-Richard Itoua, Congo’s …