International

China, Kyrgyzstan and Uzbekistan have signed a long-anticipated agreement to push ahead with the construction of a railroad linking their countries that will, if completed, establish a shorter route to Europe, bypassing sanctions-hit Russia. The three governments signed the agreement on September 14 on the sidelines of a summit of …

Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream of Gulf firms tapping equity markets. The firm will sell 26.7 million shares, or a …

Russian President Vladimir Putin said Friday Turkey would pay for a quarter of its Russian natural gas imports in rubles under a new set of deals designed to boost trade. Putin made the announcement in opening remarks of his meeting with Turkish President Recep Tayyip Erdogan on the sidelines of …

It’s December in Europe, and the temperature is dropping. People have the heating on as they cook dinner, run the washing machine, watch television. But in France, the grid operator is running out of options to keep the lights on. The utility has issued a “red” alert, meaning supplies are …

Current forecasts of U.S. crude oil production growth may have to be significantly revised as the recent slide in active drilling rigs in the top shale basin, the Permian, suggests that output may disappoint due to supply chain constraints and cost inflation in the double digits. The rig count in …

India’s energy sector will be needing an additional 28GW coal-fired power generation capacity by 2032, advisory body Central Electricity Authority (CEA) stated. These additions will be needed on top of the 25GW in thermal coal projects currently under construction. In its ‘Draft National Electricity Plan (Vol-1 Generation) CEA gives these …

The long-mooted prospect of the end of the U.S. dollar’s hegemony in the global oil and gas markets took another step towards realisation last week with the announcement that Russian and Chinese hydrocarbons giants, Gazprom and China National Petroleum Corporation (CNPC) have agreed to switch payments for gas supplies to …

OPEC raised its August oil production by 618,000 bpd, according to the group’s Monthly Oil Market Report published on September 13. According to OPEC’s secondary sources, OPEC raised its production to 29.651 million bpd, with the largest increases coming from Libya and Saudi Arabia. Libya’s oil production has been severely …

GCC GDP is expected to grow by 6.7% this year, the fastest rate since 2011, driven by higher oil production, the recycling of government revenues into investment initiatives and, to a lesser extent, household and business spending. However, the possibility of a global recession limiting oil demand remains a key …

Economists are warning prime minister Liz Truss’s decision to freeze energy bills for everyone in the UK at £2,500 raises the risk of blackouts. Experts at the economic think tank the Institute for Fiscal Studies (IFS) said energy supplies may run dry due to the government propping up energy spending. …