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The Saudi Ministry of Energy has announced a substantial increase in gas reserves at the Jafurah field, operated by state-owned Aramco, marking a significant boost for the country’s energy sector. As per the Saudi Press Agency (SPA), the additional reserves comprise 15 trillion standard cubic feet of gas and two …

Oil prices drifted lower on Monday over strong US dollar pressure as investors await Thursday’s release of the Personal Consumption Expenditures (PCE) price index, the US Fed’s preferred measure of price fluctuations and an importance gauge in its next monetary policy decision. International benchmark Brent crude traded at $80.60 per …

QatarEnergy (QE) will target 142 million tonnes per year of LNG production before 2030, up from its previous goal of 126mn tpy by 2027. QE president and CEO Saad Sherida Al-Kaabi, also the Minister of State for Energy Affairs, set out the plans for the expansion at a press conference …

Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism …

The oil industry has historically been politically conservative. In turn, Democratic politicians have often been hostile toward the industry. Nevertheless, oil companies have recorded some of their largest profits during Democratic administrations. For example, neither President Obama nor President Biden was cozy with the oil industry, but the industry profited …

Qatar plans to expand exports of liquefied natural gas amid rising demand and a pause on growth projects in the US, a key rival supplier. The nation, which vies with the US and Australia as the biggest shipper of the fuel, will develop a new 16 million tons a year …

An additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco’s Jafurah field, Energy Minister Prince Abdulaziz bin Salman said on Sunday. Reserves at Jafurah have reached 229 trillion cubic feet of gas and 75 billion barrels of condensates, Prince Abdulaziz said in …

The US Energy Information Administration (EIA) announced, on Sunday, that Iraq’s oil exports to the United States rose last week to 226,000 bpd last week. The EIA mentioned that the average US imports of crude oil during the past week from nine major countries reached 5.642 million bpd, increasing by …

Shell earned $2.4 billion from LNG trading in the fourth quarter amid strong demand for the fuel ahead of the winter, with LNG trades contributing to almost a third of its Q4 adjusted earnings, Reuters reported on Friday, quoting sources close to the UK-based supermajor. The LNG trading profit for …

Iraq reopened on Friday its rehabilitated North Oil Refinery in Baiji, which had been inactive for more than 10 years and which brings OPEC’s second-largest crude producer closer to being self-sufficient in oil products, the Prime Minister Media Office said in a statement. The Baiji refinery was damaged by insurgent …