OPEC+ countries are beginning to gradually increase oil production after nine months of tough restrictions. The rate of production increase will not exceed 0.5 mln barrels per day (bpd). By setting such a small rate, the oil exporters, which account for 40% of the global oil market, will be able …
Read More »China’s Natural Gas Output to Surpass Oil Around 2025
China’s natural gas output is expected to surpass crude oil production around 2025, China National Petroleum Corp (CNPC) oil and gas exploration expert Zou Caineng said on Friday. Domestic natural gas output from CNPC, China’s largest producer, topped 130 billion cubic metres (bcm) in 2020, up 11.6 bcm from the …
Read More »Russian Nuclear Power Plants Set Electricity Production Record in 2020
Nuclear power plants in Russia produced over 215.7 billion kilowatt-hours of electricity in 2020 thus reaching an all-time-high, Rosenergoatom, a subsidiary of state nuclear energy corporation Rosatom, said on Friday. “We ended 2020 with an absolute record in the entire history of the Russian nuclear power industry, achieved previously only …
Read More »Iran Tells IAEA It Plans to Enrich Uranium to up to 20% at Fordow Site
Iran has told the United Nations nuclear watchdog it plans to enrich uranium to up to 20% purity, a level it achieved before its 2015 accord, at its Fordow site buried inside a mountain, the agency said on Friday. The move is the latest of several recent announcements by Iran …
Read More »Industry Warns Looming Gas Shortages could Hamper Exports
Industrialists on Wednesday urged Prime Minister Imran Khan to ensure that the commitment made to the business community for uninterrupted gas supply was fulfilled in letter and spirit. In a joint statement, Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce and Industry (KCCI) M. Shariq Vohra …
Read More »The Cleanest Fossil Fuel is Set for a Post-Pandemic Rebound
Liquefied natural gas traders anticipate a swift demand recovery in 2021 after a year in which the coronavirus pandemic prompted dramatic price swings. Colder weather in key importing nations, outages at major production hubs and congestion along global shipping routes already have combined to push spot prices in Asia to …
Read More »LNG must Hitch Its Future to a Robust ‘Carbon Neutral’ Stance
A large box must be ticked before LNG can be considered a cornerstone of the 21st century energy basket – and that is its de-carbonization. LNG has fairly been heralded as a coveted jigsaw piece in the global energy transition; an energy market to bridge the traditional fossil fuel industry …
Read More »Oilfield Service Giants are Diversifying Their Operations
The oilfield services sector is usually the one to suffer the most during an oil and gas industry downturn. This last crisis has been no exception in most respects. Drilling fell sharply this year in response to the demand slump in both oil and gas, budgets were cut and exploration …
Read More »2020: The Year of the Great Energy Disconnect
2020 obviously will be the Year of the Pandemic. However, when it comes to energy, 2020 will also be known as the Year of the Great Disconnect. Thanks to the COVID-19 Pandemic, never have fossil fuels been more important for human health, yet never have they been more disparaged and …
Read More »UAE-Based Firms Help Venezuela’s Oil Exports to Skirt U.S. Sanctions
Little-known shipping companies registered in the United Arab Emirates (UAE) have been shipping Venezuelan crude oil in breach of the U.S. sanctions on Nicolas Maduro’s regime, Reuters says in a special report on Tuesday. The companies Muhit Maritime, Issa Shipping FZE, and Asia Charm Ltd, all registered in two free …
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