Top News

Russia appears to have complied in January with its pledge to reduce crude oil exports by 300,000 barrels per day (bpd) this quarter, anonymous sources with knowledge of Russian energy ministry data, which is not public, have told Bloomberg. At the latest OPEC+ meeting at the end of November, Russia …

Saudi state oil giant Aramco may issue a new bond this year to optimize its capital structure, according to its chief financial officer Ziad Al-Murshed. In the bond issue, Saudi Aramco would be looking at longer bond terms of up to 50 years, the executive said at the Saudi Capital …

Equinor has signed a 15-year agreement to supply LNG to India’s Deepak Fertilisers, which will use the gas mainly as a feedstock for ammonia production at a new plant, the Norwegian energy major said on Monday. Equinor is growing its LNG portfolio and will use the super-chilled fuel from its …

QatarEnergy, the state giant of one of the world’s top liquefied natural gas exporters, expects to soon announce new LNG supply agreements with European and Asian buyers as it is working on the world’s largest LNG export capacity expansion. QatarEnergy could also sign additional agreements to welcome more partners in …

Russian state-run oil company Rosneft has reported a nearly 50% jump in net profits for 2023, Reuters reports, hitting over $14 billion despite Western sanctions following Russia’s 2022 invasion of Ukraine. According to Reuters, Rosneft’s 2023 net profit surged by 47.2% to 1.3 trillion rubles–the equivalent of approximately $14.7 billion. …

A 3.8-million-ton liquefaction train at BP’s Tangguh LNG plant in Indonesia has been shut down for a week now due to technical problems. This is according to Upstream, which cited local media as saying the liquefaction train at the 11.4-million-ton facility had been shut down for a week now. This …

The Norwegian Ocean Industry Authority (Havtil) has granted Equinor consent for exploration drilling in the North Sea for wells 15/3-13 S and 15/3-13 A. These exploration activities will enable the Norwegian energy giant to spud the Brokk prospect, which lies in a water depth of 110 meters. This prospect is …

Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. Brent crude futures were down 61 cents, or 0.7 per cent, …

Islamabad is contemplating to kick-off construction work on 80 kilometre portion of Iran-Pakistan gas pipeline project — from Iranian border to Gwa¬dar — to escape a potential penalty of $18 billion, in case Tehran decided to move to the Paris-based International Arbi¬tration for non-execution of the project. It has also …

Japan’s government and ruling party officials are considering extending fuel subsidies beyond May, sources told Reuters on Friday, as a feeble economy and political pressure drive more fiscal spending. The economy unexpectedly slipped into a recession at the end of last year and lost its title as the world’s third-biggest …