International

China’s top offshore oil and gas producer, CNOOC, has launched the country’s first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more than 1.46 million tonnes of carbon dioxide.

The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the …

Gazprom must sell the Nord Stream 2 gas pipeline to comply with European competition standards. This view is shared by the European Commission, reports Frankfurter Allgemeine Zeitung, citing officials in Brussels. The EU Third Energy Package prohibits the same company from being both a gas supplier and the owner of …

The Biden administration said on Tuesday it would take steps to restart the federal oil and gas leasing program in the next week and plans to hold a Gulf of Mexico auction as soon as October, court papers showed. The move comes two months after the U.S Interior Department first …

China’s Daqing Oilfield, a subsidiary of the China National Petroleum Corporation, announced Wednesday the discovery of a major shale oil field with predicted geological reserves of about 1.27 billion tonnes.

Chancellor Angela Merkel reinforced her pledge to ensure Russian gas flows through Ukraine, an economic lifeline for the former Soviet republic threatened by the Nord Stream 2 gas pipeline linking Russia to Germany. A gas-transit accord between Russia and Ukraine must be extended “as quickly as possible,” Merkel said at …

Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income. The Kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first half …

US energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to the wellpad over the past year. The oil and gas rig count, an early indicator of future output, rose three …

Saudi Arabia maintained its position as China’s top crude oil supplier for the ninth month in July, Reuters reported, citing data from the General Administration of Customs in China. Shipments from Saudi Arabia totaled 6.69 million tons in July, or 1.58 million barrels per day (bpd), compared with 1.75 million …

A German regional court will decide on 25 August whether European Union rules requiring the separation of energy production from transportation and trade must be applied to the Nord Stream 2 (NS 2) gas pipeline, the court’s website showed on Thursday (19 August). The ruling will not affect completion of …