International

OPEC+ is slimming down its projections for an oil market surplus this year, according to a report seen by Reuters. The report, which was prepared ahead of the OPEC+ JTC meeting that will take place on Tuesday, showed that the OPEC+ group now sees the oil market surplus at 1 …

Goldman Sachs continues to be very bullish on energy and believes that the upside risk in crude oil and refined products “is tremendously high right now,” Jeffrey Currie, global head of commodities research at Goldman Sachs, told CNBC’s Squawk Box on Monday. The recent pullback in oil prices could be …

In a rare joint letter, the heads of France’s three largest energy companies have urged the French to use less energy in anticipation of even worse supply. “We need to work collectively to reduce our consumption in order to regain room to manoeuvre,” the chief executives of TotalEnergies, EDF, and …

Saudi Arabia’s Finance Minister has called on the Organization of the Petroleum Exporting Countries to fund more green transformation projects, in the wake of oil giant Aramco pushing ahead with solar and wind energy developments. Speaking at the ministerial meeting of the OPEC Fund for International Development in Austria, Mohammed …

China’s first intelligent factory for the production of offshore gas and oil extraction equipment was put into operation on Sunday, marking a breakthrough in pivoting the industry to intellectual manufacturing. Covering an area of about 575,000 square meters, the factory has three intelligent production centers, seven auxiliary workshops and eight …

Pakistan ranks 29th among the countries holding natural gas reserves. This was revealed in the findings of a gas monitor report presented by Dr Amanullah Mahar, Director Center for Environmental Sciences, University of Sindh, Jamshoro. He said total extractable potential is reported around 24 TCFT, however, 4 billion cubic feet …

Deep Sea No. 1, China’s independently developed, ultra-deepwater gas field, has produced more than 2 billion cubic meters of natural gas by Saturday since it was put into operation one year ago, its operator China National Offshore Oil Corporation (CNOOC) said on Saturday, the Xinhua News Agency reported. The gas …

Moscow has never made nuclear threats, Russian Foreign Ministry Spokeswoman Maria Zakharova said on Friday following the first Conference of States Parties to the Treaty on the Prohibition of Nuclear Weapons. “Statements about mutual threats of using nuclear weapons, which we heard before the conference, are perplexing, as well as …

Qatar plans to insist on terms that will lock Europe Union countries in for two decades of liquefied natural gas purchases, a move that will complicate the bloc’s goal to cut emissions while also reducing its dependence on Russian fuel. The Persian Gulf state, one of the world’s top LNG …

A proposal under discussion by the G7 would call for using tax money for natural gas projects as a response to Russia’s war in Ukraine — potentially clashing with the group’s climate pledges. A draft section of the communiqué, yet to be agreed by the leaders of G7, acknowledges that …