The oil and gas industry is set to spend $15.6 billion on digital transformation by the end of this decade to enhance cybersecurity, maintain safe operations, and create sustainable performance, technology intelligence firm ABI Research said in a new report on Wednesday. Currently, the oil and gas sector faces operational, …

The European Commission unveiled on Wednesday proposals to curb methane emissions and reduce leaks in the energy sector in the European Union (EU) as part of efforts to put the bloc on a path to climate neutrality by 2050. Methane is a powerful greenhouse gas, second only to carbon dioxide …

Russia does not appear to be backing down from its oil and gas commitments, with speculation over new partnerships with India, as well as plans to up its crude output from January, its fossil fuel industry is going from strength to strength. Russia and India signed several energy cooperation agreements …

The pace of Gazprom’s natural gas exports’ growth to Europe has slowed in recent months to just under five percent, according to data published by the Kremlin-backed gas giant yesterday. Gazprom revealed its natural gas exports outside the former Soviet Union bloc between January and December had increased 4.8 percent …

The European Union (EU) is reportedly reconsidering its position on extending long-term natural gas contracts beyond 2049 as part of reforms in its natural gas market to meet the net-zero by 2050 goal. Should the European Commission’s proposal be endorsed by EU heads of state and government this week, putting …

Mitsui OSK Lines (MOL) and Royal Vopak (Vopak) have come to an agreement whereby Vopak will acquire 49.99% of the shares in the vessel owning company of MOL FSRU Challenger, whose name will be changed to Bauhinia Spirit, a nod to Hong Kong’s flag, which features the tropical plant. This …

The European Union plans to stop funding new oil and gas pipelines in future, as it switches the focus to promoting energy sources that are less harmful to the climate. Negotiators from the EU member states and the European Parliament agreed on Wednesday morning on a reform of the TEN-E …

Italian major Eni has signed a contract to relaunch production in Algeria’s Berkine basin as well as an agreement for decarbonization initiatives. The contract for the Berkine area was signed by the CEO of Sonatrach Toufik Hakkar and the CEO of Eni Claudio Descalzi in the presence of the Minister …

China, the world’s biggest buyer of crude, is set to start 2022 with a subdued appetite for oil. For that, you can blame — or thank — Beijing’s increasingly tough line on the virus, pollution, and rule-breakers. The winter months are usually the time when refiners buy crude to replenish …

Japanese automakers are looking for ways to catch up with European and U.S. competitors in China, which has grown to become the world’s largest car market. Around 2 million vehicles were sold in China in 2000, before the country joined the World Trade Organization. Sales have since grown over tenfold …