The number of total active drilling rigs in the United States rose by 6 this week, after drilling increases stalled out in the week prior, according to new data from Baker Hughes published on Friday. The total rig count rose to 733 this week—272 rigs higher than the rig count …

OPEC+ once again fell short of its oil production targets in May on continued production declines in many OPEC members, a survey by S&P Platts found, as cited by OPEC and Middle East managing editor Herman Wang. In April, OPEC alone missed its target by 2.7 million barrels daily, and …

On 21 November, the Fifa football World Cup kicks off in Qatar, marking the end of a glorious cycle of investment and the start of Qatar’s next phase of development. Nine stadiums have been built for the tournament at a cost of about $5bn. Together they crown a $157bn programme …

After six challenging years for the GCC construction industry, contractors, consultants and suppliers can at last look forward to a return to growth and the prospect of rising project opportunities in 2022. With some $1.4tn-worth of construction and transport projects planned in the GCC yet to see their main contracts …

Iran’s foreign minister has reiterated that the country is not seeking an A-bomb, but will keep developing its nuclear knowhow. “Nuclear technology is a complex one. Only when a country develops its knowhow in the domains of physics, mathematics, chemistry and different dimensions of science and technology can it achieve …

An oil tanker chartered by Italian oil company Eni SpA to carry 650,000 barrels of diluted crude oil supplied by Venezuelan state-run PDVSA arrived on Friday in Venezuelan waters, according to a document from the state-run firm. The crude cargo will be the first for Eni following an authorization issued …

A key meeting of North Korea’s ruling Workers Party is underway amid speculation of Pyongyang preparing for a nuclear test. The top huddle, which convened on Wednesday, is being presided by North Korean leader Kim Jong Un, with the participation of key officials of the party and ministries, Korean Central …

A research team comprised of Chinese and Russian scientists have recently developed a cost-effective and environmentally friendly way to lift efficiency to convert sunlight into hydrogen energy, a method that could help Russia and China enter a new era of clean energy and help both countries take a leading position …

Ukraine hopes to make €1.5 billion from electricity exports to the European Union by the end of the year and earn to more in the future after obtaining the right to export its energy there, a Ukrainian energy ministry adviser said on Wednesday (8 June). Former Soviet Ukraine’s electricity grid …

Based on current projections, energy prices are expected to rise by 50 percent in 2022, reflecting an 81 percent increase in coal prices, a 74 percent rise in natural gas prices (average of the European, Japan, and U.S. benchmarks), and a 42 percent increase in the price of oil, Trend …