A year after the pandemic and the disagreement within OPEC+ over supply management crushed oil prices, the industry finds itself at an all-too-familiar crossroads: Will OPEC’s bet that U.S. shale’s “drill, baby, drill” is gone forever be right this time? Analysts seem to concur that this is a safe bet, …

Energy giant Saudi Aramco said it has struck a 12.4-billion-dollar deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners. The deal comes as Aramco – the kingdom’s cash cow – seeks to monetise its once-untouchable assets …

Cheniere Energy expects LNG demand to increase until 2040, though it may decline beyond that due to continued global action to reduce greenhouse gas emissions, presenting risks for existing US liquefaction terminal operators and project developers, the company said April 9. The conclusions were issued in a report assessing the …

Iran’s Deputy Foreign Minister Seyyed Abbas Araghchi said in Vienna that cooperation between Iran and the International Atomic Energy Agency (IAEA) continues in both areas of fact-checking and technological assistance. Araghchi held talks with the Director-General of the International Atomic Energy Agency (IAEA) Rafael Grossi on the Joint Comprehensive Plan …

Saudi Arabia remains confident that the OPEC+ agreement to increase output over the next three months was the right move, said its energy minister. “It’s still a good decision,” Prince Abdulaziz bin Salman said in an interview in Riyadh on Thursday. “I don’t see anything yet that disturbs us, me …

China’s electricity-guzzling Bitcoin mines, which power nearly 80 per cent of the world’s cryptocurrency trade, could undermine the country’s climate goals, according to a study published on Tuesday in the scientific journal Nature. While the terminology cunjures up images of digging up precious minerals from a hole in the ground, …

North Asia’s liquefied natural gas importers are making earlier-than-usual moves to stock up ahead of the winter, after they were caught flat-footed this year by a sudden cold blast that sent spot rates skyrocketing to a record. China’s Sinopec purchased at least 35 cargoes for delivery between June and February …

The recent decision by the Organisation of the Petroleum Exporting Countries and its allies to increase their oil production quotas and the prospect of higher Iranian output point to a smaller global oil market deficit this year than previously envisaged, Capital Economics has said. The London-based economic research company said …

China’s crude oil imports are estimated to have declined by 8.81 percent month over month in March to stand at 11.26 million barrels per day (bpd), energy analytics services provider OilX said, noting that its assessment doesn’t show massive crude flows from Iran into China last month. In recent weeks, …

Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But optimism over talks between the United States and Iran and an impending increase in supply …