International

China is installing about as many solar panels and wind turbines as the rest of the world combined, and is on track to meet its target for clean energy six years early. It is using renewables to meet nearly all of the growth in its electricity needs. Yet there is …

Lukoil signed a supplementary agreement with state-owned Basra Oil Co. to extend the oil service contract for West Qurna 2 field in Iraq by 10 years to 2045 and to double oil production to 800,000 b/d, Lukoil said in a release. The field development plan envisages bringing new multi-well pads …

The temporary ban on exports of Russian diesel and heavy refinery maintenance reduced Russia’s diesel exports by sea by 11% in October compared to September, according to data from LSEG and trade sources cited by Reuters. On September 21, Russia surprised the markets by announcing a temporary ban on exports …

China’s first domestically-produced LNG storage tank of 270,000 cubic meters was put into operation in Qingdao, Shandong Province, on Thursday. It is the largest LNG storage tank in the country, which has significantly increased the supply capability in north China. The tank has a diameter of 100.6 meters and a …

Turkey’s first seismic research vessel “Barbaros Hayreddin Pasa,” which has scanned more than 50,000 square-kilometer in the last five years to search for oil and natural gas within the country’s territorial waters, is currently getting prepared for its next mission at Trabzon port where it briefly anchored for scheduled maintenance. …

Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge Sunday to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties. The nations promised to maintain “a free and fair trading system based on the rule of law and …

The International Energy Agency on Oct. 24 lowered its 2050 oil demand projection by 2.4 million b/d to 54.8 million b/d along with a 0.5 million b/d reduction for 2030 under its central scenario in the World Energy Outlook. The annual outlook cited a faster pace of adoption of electric …

The substance that constitutes a pencil lead and an important component of electric vehicle batteries is suddenly less available. China, the world’s top producer of graphite, will now require permits for shipments abroad. The country is the world’s top producer and plays a special role by refining 90 percent of …

Chinese offshore operator China National Offshore Oil Corp (CNOOC) announced on Monday the discovery of its first deep coalbed methane (CBM) field with proved geological reserves exceeding 110 billion cubic meters in northwest China’s Shaanxi Province, China Media Group (CMG) reported. The discovery of the Shenfu deep CBM field, located …

The United States has eased its sanctions on Venezuela following an election deal. This follows four years of sanctions on its oil and gas industry, restricting the South American oil giant’s production and export levels. Despite the tough restrictions on the country’s energy industry, Venezuela continued to produce and export …