International

China’s largest offshore oil producer China National Offshore Oil Corp (CNOOC) on Monday announced that Liuhua 16-2 oilfield cluster, China’s first independent deepwater oil and gas project, is now in full-throttle production in the South China Sea. CNOOC hailed the new progress at Liuhua 16-2 oilfield cluster as another major …

Aramco has refuted recent reports claiming that the company plans to embark on Bitcoin mining activities. In a statement, Aramco said: “With reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.” Aramco is a global …

Russia increased oil production in July for the first time in three months, after more generous quotas were extended to the entire OPEC+ alliance. Producers pumped 44.24 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s about 10.46 million barrels …

Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah. Iraq’s oil ministry has been in talks with the company for the last six months to convince it to repeal its decision, and …

Amid all the talk of global warming, climate change-induced catastrophes, decarbonization and green finance, the global trade in “dirty” coal is enjoying an ironic renaissance. Bulk ships are busy transporting coal to Asia — and to eco-conscious Europe — boosting freight income for some of the very shipowners who publicly …

In the region, work is under way to drill new, deeper wells, Trend reports citing turkmenian media. At the same time, productive wells are transferred to the gas-lift method of operation. The work carried out significantly contributes to an increase in the volume of oil produced here. The total volume …

South Korean Data showed, on Saturday, that Iraqi oil exports to South Korea are 3.872 million barrels in last June. The Data stated that “The South Korea oil imports is 80.165 million barrels (2.67 barrels per day.)” The top four source countries of South Korean import oil are Saudi Arabia …

Saudi Arabia is aiming to use Fourth Industrial Revolution (4IR) technology to fundamentally transform the energy sector, enhance the security of its water and food resources, and fight climate change, senior ministers announced. “Our vision is to transform the energy sector through the application of data and technology,” Saudi Energy …

Basra’s light crude exported to Asia registered $75.14 a barrel, 0.49% below the previous session’s price. The price of a Basra heavy crude barrel rose to $70.05 a barrel, up by 0.17%. The Saudi Arab light crude closed at $75.13 a barrel, while Iran’s heavy settled $69.54 a barrel. UAE’s …

Russia is building on its 2020 roadmap for hydrogen production over the next decade, announcing a new working group to coordinate the country’s hydrogen production and exportation projects. With the development of a new working group, by Russian Prime Minister Mikhail Mishustin, to coordinate hydrogen projects, Russia appears to be …