International

China’s oil giant Sinopec on Tuesday released a report about the company’s participation and growth in Russia which deepens ties with China on energy cooperation, a key sector following global energy crunch in tandem with climate change crisis. The report focuses on sustainable development of Sinopec in Russia and its …

OPEC+ compliance with oil production cuts stood at 117% in November, up from 116% the previous month, two sources from the group told Reuters, indicating the group’s production levels continue to be below agreed targets. Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating …

Turkmenistan and India discussed the construction of a transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI), Trend reports citing the Foreign Affairs Ministry of Turkmenistan. Subrahmanyam Jaishankar, Foreign Minister of India, and Rashid Meredov, Foreign Minister of Turkmenistan, met in New Delhi on December 19 to discuss joint actions to implement the TAPI …

Energy companies Engie and Equinor have announced the H2BE project which aims to develop production of low-carbon hydrogen from natural gas in Belgium. The Belgian federal government released its Hydrogen Strategy in late October and the H2BE project will help Belgium deliver on the strategy. The project aims at producing …

Egypt is joining the Middle East’s push to adopt electric cars, tasking a state-owned company to build affordable vehicles with a Chinese firm while taking advantage of its renewable energy boom to power them. Authorities are in contact with three potential companies as they seek a partner for El Nasr …

Iraqi drilling company has started boring a new oil well in the Maysan governorate in the south of Iraq, the State-owned company said in a press release on Saturday. The company said it deployed the 2,000 HP “IDC-23” drilling device to reach 3,290 meters depth in the new well named …

“Thanksgiving was a Thanksgiving day for the speculators,” said Saudi energy minister Prince Abdulaziz bin Salman. “But let them dare to do another Thanksgiving. They will be ouching like hell.” Saudi Arabia’s energy minister warned traders against shorting oil, saying OPEC+ could react quickly to any fall in prices. OPEC+, …

Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century. By 2030, the Wall Street firm intends to have lowered the …

Russia does not appear to be backing down from its oil and gas commitments, with speculation over new partnerships with India, as well as plans to up its crude output from January, its fossil fuel industry is going from strength to strength. Russia and India signed several energy cooperation agreements …

Mitsui OSK Lines (MOL) and Royal Vopak (Vopak) have come to an agreement whereby Vopak will acquire 49.99% of the shares in the vessel owning company of MOL FSRU Challenger, whose name will be changed to Bauhinia Spirit, a nod to Hong Kong’s flag, which features the tropical plant. This …