China’s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold supplies, two people with knowledge of supply levels said. The build-up follows a push by Beijing to buy up crude for its reserves last …

Chevron Corp. launched a new $300 million fund on Feb. 25 aimed to address challenges facing the oil and gas industry in the so-called energy transition through investments in low-carbon technologies. The U.S. oil major hopes to build on the success of its previous fund, Future Energy Fund, which has …

A large oil field has been discovered in the Mangistau region. According to experts, this is the largest field of hydrocarbons found in the region over 30 years of Kazakhstan’s independence. It was reported by the local Kazpravda with reference to the press service of the regional government. A new …

The US Senate confirmed former Michigan Governor Jennifer Granholm on 25 February to head the Department of Energy (DOE) despite opposition from a majority of Republicans. After a 65-34 vote, Granholm will now head an agency that is charged with overseeing and implementing US energy policy, including the use of …

Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels as of the end of 2020 in a regulatory filing, cited by Bloomberg. This compared with 22.44 billion barrels a …

To see the gulf between China’s ambitious carbon-neutral goals and the desire of its companies to maintain breakneck growth, look at Shandong’s oil refineries. The coastal province, a hub of private factories with an economy the size of Indonesia’s, issued a notice urging local industry, and especially oil and petrochemical …

Russia’s largest independent natural gas producer and LNG operator Novatek has secured an LNG supply deal with China’s Shenergy Group. Novatek said on Thursday the deal is for a cumulative supply of over 3 million tons of LNG from the Arctic LNG 2 project over a 15-year term. The volumes …

Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. …

The gas market will progressively become more interconnected and less regionalised due to the projected extension of total gas exports; GECF said and noted the Asian LNG market, with 71% of global LNG imports, will remain the largest regional market. The share of traded LNG will increase to approximately 48% …

Iran’s minister of energy said on Tuesday that the Iranian engineers are among the most advanced builders of hydraulic megastructures, such as dams and tunnels. These advances are not confined to Iranian borders and several dams and tunnels in other countries have been built by Iranians, Reza Ardakanian said addressing …