Kazakhstan is buying tankers to transport its oil through the Caspian and Black seas. Thus, the country can look for an alternative to the main export pipeline through the Russian Federation. A division of the state-owned company “KazMunayGaz” has already purchased two tankers with a deadweight of 8,000 tons each …

The EU’s liquefied natural gas imports from Russia jumped by 40% between January and July 2023 compared to the same period of 2021, before the Russian invasion of Ukraine, campaign NGO Global Witness said on Wednesday. Unlike Russian oil, Russian gas is not banned or under sanctions in Europe. But …

Russia’s gas giant Gazprom has reported a massive drop in its first-half net profit as deliveries to Europe have slumped compared to 2022 when Russia was still supplying pipeline gas to its European customers for most of the first half of last year. Gazprom’s net profit plunged by 8.5 times …

Egypt plans to drill 35 new natural gas wells in the Mediterranean Sea and the Nile Delta in the next two fiscal years to boost its production. The country already drilled 10 natural gas wells during the fiscal year 2022-2023, which ended on June 30, 2023, Tarek El-Molla, Egyptian Minister …

A couple of weeks ago, the International Energy Agency reported that global oil demand reached an all-time high of 103mn barrels a day in June. According to the global energy watchdog, robust demand was driven by better than expected economic growth in OECD countries, surging oil consumption in China, particularly …

Slower U.S. shale growth and persistent underproduction from several OPEC+ producers are set to tighten the oil market further in 2024, Barclays said on Wednesday, hiking its Brent price forecast for next year by $8 to $97 a barrel. “Slowing non-OPEC+ supply growth, driven primarily by the US, and persistent …

Equinor has acquired a 25% interest in Bayou Bend CCS LLC, positioned to be one of the largest U.S. carbon capture and storage projects located along the Gulf Coast in Southeast Texas. Bayou Bend is positioned to be one of the largest CCS solutions in the U.S. for industrial emitters, …

In the push to embrace emerging technologies and harness their potential commercial opportunities, Gulf countries are launching new initiatives to bolster their domestic space industries. In June Saudi Arabia’s Council of Ministers approved the transformation of the Saudi Space Commission, which was launched in 2018, into a full government agency …

Regarded as the most important gas project in the country, Phase 11 of the South Pars Gas Field was inaugurated in a ceremony in Assaluyeh, Iran’s southern province of Bushehr, on Monday with President Ebrahim Raisi and Oil Minister Javad Owji in attendance. Construction of Phase 11 of the South …

The shipping industry has taken another important step towards the era of unmanned ships with the delivery of an LNG-powered capesize bulk carrier in South Korea fitted with artificial intelligence (AI)-based machinery monitoring and safety systems. The 180,000 dwt HL Nambu 2, built by Hyundai Samho Heavy Industries for compatriot …