Top News

China’s liquefied natural (LNG) gas importers are starting up or expanding trading desks in London and Singapore to better manage their growing and diversified supply portfolios in an increasingly volatile global market. The beefed-up trading presence of Chinese importers puts them in direct competition with such global heavyweights as Shell, …

ADNOC Gas PLC has signed a five-year agreement with Japan Petroleum Exploration Co. Ltd. (JAPEX) for the supply of liquefied natural gas (LNG). The deal amounts to between $450 million and $550 million, Abu Dhabi National Oil Co.’s (ADNOC) integrated gas unit said in a press release last week, not …

Despite lingering concerns about China’s economy, global oil demand hit a record high in June and could be on track for another record in August, the International Energy Agency (IEA) said in its latest monthly report. The cuts from OPEC+ and Saudi Arabia, coupled with expected continued strength in demand, …

Significantly improved electric vehicle (EV) batteries could be a step closer thanks to a new study led by University of Oxford researchers. The research findings have been published in Nature. Using advanced imaging techniques, the team revealed mechanisms which cause lithium metal solid-state batteries (Li-SSBs) to fail. If these can …

Iran’s natural gas exports in the current Iranian calendar year (started on March 21) increased by 16 percent compared to the previous year, according to the managing director of the National Iranian Gas Company (NIGC). According to Majid Chegeni, the country’s annual liquefied petroleum gas (LPG) exports also registered a …

Qatar is set to provide Hungary with liquified natural gas (LNG) starting from 2027 as the European country seeks to diversify its energy resources, Budapest’s Foreign Minister Peter Szijjarto confirmed on Friday. “We have reached a political agreement, which is now followed by talks between energy companies Qatargas and Hungary’s …

Russia remained China’s largest crude supplier in July, Chinese government data showed on Sunday, even as Russian shipments fall from all-time highs on narrower discounts and rising domestic demand crimps Russian exports. Arrivals from Russia were up 13% from the same month last year to 8.06 million metric tons in …

Iraq’s crude oil exports to the U.S. has trumped those from Saudi Arabia last week, despite a marginal decline in the rate of supply, data by the Energy Information Administration (EIA) showed on Sunday. Drawing on a recent data chart, the EIA illustrated that the average daily crude oil imports …

The total number of active drilling rigs in the United States fell by 12 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 652 this week. So far this year, Baker Hughes has estimated a loss of 136 active drilling rigs. This …

In the first half of 2023, China’s intake of refined copper saw the biggest drop in four years. The news underscores the current deceleration of the nation’s manufacturing sphere. China is one of the world’s largest buyers of refined copper. Still, it seems the country’s appetite for imports is waning. …