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France’s TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon, the French firm said on January 29. “We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s …

Windfall taxes, price caps, and calls for more oil and gas production marked 2022 in oil and gas. It looks like we’re in for a lot more of the same this year, especially with Western governments doubling down on their emission-reduction ambitions. The record profits that oil and gas majors …

Italian energy giant Eni signed an $8 billion gas deal with Libya’s state-run National Oil Corporation Saturday as Prime Minister Giorgia Meloni visited Tripoli. European governments have been scrambling to find alternatives to Russian gas since last year’s invasion of Ukraine saw deliveries slashed to less than half their pre-war …

The United States supports South Africa’s transition to cleaner energy and will help mobilize financing from the private sector to assist the country which is heavily dependent on coal, U.S. Secretary of the Treasury Janet Yellen said on Friday during a visit to South Africa. Currently, coal is by far …

Germany saw an increase in crude oil import volumes of 11.1% during the first ten months of last year, new BAFA data showed on Friday, cited by Reuters. But the bill for that volume nearly doubled compared to the year prior at $55.98 billion. Throughout 2022, Germany continued to lean …

Europe’s natural gas market will tighten again in 2023 as stockpiles will have to be replenished over the summer without the usual Russian supply, according to TotalEnergies SE CEO Patrick Pouyanne. “Europe will get less Russian gas than in 2022 and will have to again massively re-import LNG,” Pouyanne told …

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in …

Oil prices settled lower on Friday, making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected U.S. economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures settled down 81 cents, or 0.9%, at $86.66 …

The 13th Specialized Exhibition of Khuzestan Manufacturing Oil Industry Equipment is scheduled to be held in the southwestern city of Ahvaz (the capital city of Khuzestan) during February 6-9, Shana reported. The slogan of the current year’s exhibition is “A strong Iran; knowledge-based oil Industry and completion of the value …

Libya’s state energy firm said it expects to sign more deals with foreign companies after Eni SpA agreed to invest $8 billion to extract natural gas in the North African country. Libya’s abundance of oil and gas reserves — among the largest in Africa — and its proximity to Europe …