International

Libya’s oil output has risen to 295,000 barrels following a truce in the OPEC nation’s civil war and the lifting of a blockade on energy facilities. Fields that feed the newly restarted eastern ports of Hariga, Brega and Zueitina are ramping up production, according to a person with knowledge of …

Saudi Arabia’s Finance Ministry sees oil prices at around $50 a barrel for the next three years, according to Goldman Sachs Group Inc.’s analysis of the kingdom’s pre-budget statement. “Using our own estimates for the breakdown of government revenues, we calculate that the numbers presented in the budget statement are …

At the moment, the energy news out of China is a deluge of reports and think pieces about the government’s recently unveiled an extremely ambitious plan to become carbon neutral by 2060 – very big news from the nation that is responsible for a quarter of the world’s total greenhouse …

Turkey is preparing to deploy a third drill ship as part of its search for hydrocarbons, Energy Minister Fatih Dönmez said in a tweet on Thursday. “The Kanuni period begins in our seas. Kanuni will sail from Taşucu Port on Oct. 10” the Dönmez said, referring to the Kanuni drillship …

China is set to build its largest import liquefied natural gas (LNG) terminal with operations slated to start in 2022, state media CCTV reported. According to the broadcaster, the LNG “reserve base” will be located in the Jiangsu province, eventually featuring 20 million tonnes per annum (Mtpa) importing capacity. During …

The Turkish Minister of Energy and Natural Resources, Fatih Donmaz, said on Monday that several Turkish investors have agreements in Libya to install power stations to be run with natural gas. Donmaz added that a thousand megawatt power station in Tripoli is presently being implemented by a Turkish company which …

Norwegian oil and gas giant Equinor has made an oil and gas discovery in the Swisher prospect near the Fram field in the North Sea offshore Norway. Equinor, as the operator of the production licence 248 C, has concluded the drilling of wildcat well 35/11-24 S and appraisal wells 35/11-24 …

Russia was the biggest exporter of crude oil to China last month, for the 2nd month in a row, Reuters reported, citing Chinese customs data. Saudi Arabia came 2nd, but its exports to the world’s top importer fell by 300 % in August, Oilprice analysed. Russia shipped 1.37 million bpd …

Russia expects a long and gradual revival of the oil market after the pandemic this year crushed energy demand across the world. “The recovery won’t be fast, it will take quite a while before the pre-crisis levels can be reached,” Russia’s Energy Minister Alexander Novak said Sunday. In 2020, on …

Russia supports the concept of the Closed Carbon Cycle Economy based of renewable resources, Russian Energy Minister Alexander Novak sais on Sunday at a meeting of Group of Twenty energy ministers. “I would like to thank, first of all, Saudi Arabia for high-quality presidency and offering a G20 energy agenda, …