Iran’s oil minister said Monday that output at many oil wells has fallen from 50,000 barrels p/d to 1,000 and local expertise should help restore production. Speaking at an event dedicated to research at the oil ministry, Owji urged Iranian young scientists to help the oil industry and raise production …

The United States is set to become the world’s biggest liquefied natural gas (LNG) exporter in 2022, surpassing Qatar and Australia, and may hold that title for years to come. In a year when China and other large economies in Europe and Asia scrambled to source enough supply for heating …

Equinor ASA will drill about 25 exploration wells off Norway’s coast next year in a bet that it will be among the last companies still producing oil and gas when the world has achieved net-zero emissions. All scenarios, including the International Energy Agency’s vision of a net-zero world, include the …

At the company’s Investor Day held on December 17, Alibaba Group released a pledge to achieve carbon neutrality by 2030, also announcing a pioneering initiative aiming to facilitate 1.5 gigatons of decarbonization across its business ecosystem by 2035. Daniel Zhang, Chairman and CEO of Alibaba, said, “Despite many challenges, we …

OPEC+ compliance with oil production cuts stood at 117% in November, up from 116% the previous month, two sources from the group told Reuters, indicating the group’s production levels continue to be below agreed targets. Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating …

World oil prices fell by more than five percent on Monday, as energy demand fears grew over the fast-spreading Omicron coronavirus variant. In morning deals, Brent North Sea crude tumbled 5.1 percent to $69.79 per barrel and New York’s West Texas Intermediate oil lost 5.7 percent to $66.84. The rapid …

Turkmenistan and India discussed the construction of a transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI), Trend reports citing the Foreign Affairs Ministry of Turkmenistan. Subrahmanyam Jaishankar, Foreign Minister of India, and Rashid Meredov, Foreign Minister of Turkmenistan, met in New Delhi on December 19 to discuss joint actions to implement the TAPI …

Gas prices in Europe increased by more than 7% and surpassed $1,700 per 1,000 cubic meters, according to London’s ICE. The price of the January futures on the TTF hub in the Netherlands increased to $1,732 per 1,000 cubic meters, or 148.87 euro per MWh. By the closure of the …

Energy companies Engie and Equinor have announced the H2BE project which aims to develop production of low-carbon hydrogen from natural gas in Belgium. The Belgian federal government released its Hydrogen Strategy in late October and the H2BE project will help Belgium deliver on the strategy. The project aims at producing …

India’s leading renewable energy developer, ReNew Energy Global PLC, has reportedly planned to switch its strategy, from growth based on China’s raw material supply to seek independent development, which has been viewed as India’s move to “counter China” in the sector. Until recently, ReNew Energy and other Indian renewable energy …