Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter. Moscow expects the current global oil-output deficit to persist in the medium term, two officials said, asking not to …

Egyptian Prime Minister Mostafa Madbouly said he wanted to work with the Greek government to export surplus natural gas to Europe. It is part of a wider push to boost cooperation across energy and electrical grid interconnection across the island of Crete, which lies midway between the North African country …

Oil prices rose on Tuesday over bullish market sentiments of a sooner-than-expected demand rebound. International benchmark Brent crude was trading at $75.26 per barrel at 07.29 GMT for a 0.48% increase after closing Monday at $74.90 a barrel. American benchmark West Texas Intermediate (WTI) traded at $73.33 a barrel at …

Japan has been the world’s biggest LNG market for as long as most people can remember. Decades of LNG expansion in the supply of the country have been driven by utilities and trading firms, which have been the basis of long-term deals for Japan. However, nothing lasts indefinitely, and with …

Turkey’s renewables expansion, driven by hydro, wind and solar places the Izmir province as a leader in wind power and Konya as a pioneer in solar energy, data compiled by Anadolu Agency reveals. Of the country’s total renewables capacity of 50,990 megawatts (MW), hydropower stood at 31,280 MW, wind power …

The increasingly bullish sentiment in oil markets has several analysts to predict $100 in 2022, but some think that prices could hit that level in 2021 already Oil’s rally to above $70 a barrel has spurred talk of $100 oil—an unthinkable outlook at this time last year when economies and …

China National Petroleum Corporation announced on Sunday the discovery of a shale oil field with geological reserves of 1 billion tonnes in northwest China’s Ordos Basin, making it the largest in the country. The leading energy company said the accumulated proven geological reserves of its Changqing Oilfield reached 1.052 billion …

India started buying prompt shipments of liquefied natural gas from the spot market after a two-month absence, indicating a rebound in demand as the nation exits a deadly phase of the Covid-19 pandemic. Petronet LNG Ltd. and Indian Oil Corp. awarded tenders for delivery over the next few months, the …

The return of Iranian oil to the world market needs to be taken into account, but first, there has to be an understanding of the exact schedule and volume limits, Russian Deputy Prime Minister Alexander Novak told Sputnik. “Of course, this must be taken into account. Because it affects the …

China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. The consortium, led by U.S. firm EIG Global Energy Partners LLC, has now closed a deal to acquire a 49% equity stake in Aramco Oil …