“Our products make the world run.” This is what Chevron’s chief executive Mike Wirth said at this week’s World Petroleum Congress in Houston. The statement echoed a sentiment expressed by other oil executives attending the event—oil and gas are indispensable and will continue to be indispensable for the observable future …

Oil prices increased on Thursday on investor relief following news that the Pfizer-BioNTech vaccine booster is capable of neutralizing the omicron variant. International benchmark Brent crude was trading at $76.32 per barrel at 0624 GMT for an 0.65% increase after closing the previous session at $75.82 a barrel. American benchmark …

Attempts to cut investment in oil and gas to combat climate change are “misguided,” Organization of the Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo told an energy conference on Wednesday, December 8, arguing that producers have a critical role to play during the transition to cleaner fuels. Speaking at …

Abu Dhabi’s renewables energy company Masdar has commissioned its first wind farms in Poland. These ‘farms’ are jointly owned with Taaleri SolarWind II Fund. In January, Masdar and Taaleri SolarWind II Fund each acquired a 50 per cent stake in the projects, marking their first investment in the Polish renewable …

Qatar has based its 2022 fiscal budget on an average oil price estimate of $55/b, up from $40/b in 2021, thanks to the improvement in international energy prices, the country’s finance minister said Dec. 7. “The remarkable recovery in global energy prices, which still reflects the continued adoption of conservative …

The first major contracts for Saudi Arabia’s Jafurah field – supposedly, the biggest shale gas field outside the U.S. – were awarded last week, as the Kingdom aims to become the third largest natural gas producer in the world by 2030, to the point where it could even become a …

On Tuesday, European natural gas futures jumped after U.S. and European allies weighed new sanctions against Russia if it should invade Ukraine. Cold weather is not the only driver of natgas prices but also geopolitical instability in the region has helped push prices near 100 euros per megawatt-hour. According to …

China is likely to commence the operations of 412 petrochemicals projects between 2021 and 2025, accounting for about 50% of the total upcoming petrochemicals project starts in Asia by 2025, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ …

QatarEnergy said that its LNG producing affiliate, Ras Laffan Liquefied Natural Gas Company, has entered into a long-term Sale and Purchase Agreement (SPA) with China’s Guangdong Energy Group Natural Gas Company. The SPA is for the supply of one million tons per annum of LNG to China over a 10-year …

In the showdown over Russia’s implicit threat to invade Ukraine, the United States and European allies are eyeing what they see is a major vulnerability for Moscow — the just-completed Nord Stream 2 pipeline to carry natural gas to Europe. US officials made clear Tuesday after President Joe Biden’s two-hour …