International

Russia is expected to mothball the Nord Stream natural gas pipelines damaged in the sabotage last autumn as there are no plans to either put them to use or repair them soon, Reuters reported on Friday, quoting sources with knowledge of the plan. Russia plans to seal up the ruptured …

Russia will no longer rely on the West for its energy trade and its new energy policy will be oriented towards more reliable partners like India and China, said Russian Foreign Minister Sergey Lavrov in Delhi on Friday. “We would not rely anymore on any partners in the West. We …

The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, who visited Tripoli Wednesday, discussed issues related to the oil and gas sector, hailing Libya as one of the most important major partners in OPEC. The Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of …

Germany needs to use all energy options available to bring down high prices and protect certain sectors of the economy, Finance Minister Christian Lindner said on Wednesday. “We need to change our energy policy to be adapted to the new realities,” he said at an event organised by the BVMW …

Russian oil and gas output at the Sakhalin-1 project in the Far East is only half of what it was projected to be for 2022 after Russia’s invasion of Ukraine set off a series of Western sanctions that led to the departure of ExxonMobil. In a televised meeting with Russian …

OPEC’s crude oil production for February was, on average, 150,000 bpd more than it was in January, a Reuters survey found on Tuesday. OPEC’s February crude oil production rose to 28.97 million bpd, the survey said, but is still 700,000 bpd less than it was in September. OPEC+–responsible for producing …

Developers of U.S. LNG export facilities could launch $100 billion worth of new plants over the next five years as high prices and the need for energy security create strong momentum for long-term LNG demand and contracts. The United States is set to overtake Qatar and Australia as the world’s …

With EU bans on Russian oil and oil-product exports set to go into effect this year in response to Russia’s ongoing war in Ukraine, emerging market producers are poised to gain larger shares of an evolving market. EU bans against Russian oil products such as diesel were rolled out earlier …

Iraq has been saying it wants to produce more oil and gas for a while now but turning stated ambitions into reality has taken a while. This week, the country took a big step towards that reality when it signed a slew of deals with foreign companies as part of …

According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. Venezuela’s 304 billion barrels of proved reserves just edges out Saudi Arabia’s 298 billion barrels. Both are far ahead of U.S. proved reserves of 69 billion barrels. …